TESTBANK FOR An Introduction to Management Science

True / False

1. The process of decision making is more limited than that of problem solving.
   a. True
   b. False
   ANSWER: True
   POINTS: 1
   DIFFICULTY: Easy
   LEARNING OBJECTIVES: IMS.ASWC.19.01.01 – 1.1
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.1 Problem Solving and Decision Making
   KEYWORDS: Bloom’s: Understand
2. The breakeven point is the point at which the volume of output produced is the result of total revenue equaling total
   cost.
   a. True
   b. False
   ANSWER: True
   POINTS: 1
   DIFFICULTY: Easy
   LEARNING OBJECTIVES: IMS.ASWC.19.01.04 – 1.4
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.4 Models of Cost, Revenue, and Profit
   KEYWORDS: Bloom’s: Understand
3. Problem solving encompasses both the identification of a problem and the action to resolve it.
   a. True
   b. False
   ANSWER: True
   POINTS: 1
   DIFFICULTY: Easy
   LEARNING OBJECTIVES: IMS.ASWC.19.01.01 – 1.1
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.1 Problem Solving and Decision Making
   KEYWORDS: Bloom’s: Remember
4. The decision-making process includes implementation and subsequent evaluation of the decision.
   1 / 4
   CH 01 – Introduction
   © Cengage. Testing Powered by Cognero. Page 2
   a. True
   b. False
   ANSWER: False
   POINTS: 1
   DIFFICULTY: Easy
   LEARNING OBJECTIVES: IMS.ASWC.19.01.01 – 1.1
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.1 Problem Solving and Decision Making
   2 / 4
   CH 01 – Introduction
   © Cengage. Testing Powered by Cognero. Page 3
   KEYWORDS: Bloom’s: Understand
5. Most successful quantitative analysis models will advise separating the management analyst from the managerial team
   until after the problem has been fully structured.
   a. True
   b. False
   ANSWER: False
   POINTS: 1
   DIFFICULTY: Moderate
   LEARNING OBJECTIVES: IMS.ASWC.19.01.03 – 1.3
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.3 Quantitative Analysis
   KEYWORDS: Bloom’s: Understand
6. The value of making a decision based on models is dependent on how closely the model represents the real situation.
   a. True
   b. False
   ANSWER: True
   POINTS: 1
   DIFFICULTY: Easy
   LEARNING OBJECTIVES: IMS.ASWC.19.01.03 – 1.3
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.3 Quantitative Analysis
   KEYWORDS: Bloom’s: Understand
7. Uncontrollable inputs are the decision variables for a model.
   a. True
   b. False
   ANSWER: False
   POINTS: 1
   DIFFICULTY: Easy
   LEARNING OBJECTIVES: IMS.ASWC.19.01.03 – 1.3
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.3 Quantitative Analysis
   KEYWORDS: Bloom’s: Remember
8. The feasible solution is the best solution possible for a mathematical model.
   a. True
   b. False
   ANSWER: False
   POINTS: 1
   DIFFICULTY: Moderate
   LEARNING OBJECTIVES: IMS.ASWC.19.01.03 – 1.3
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
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   CH 01 – Introduction
   © Cengage. Testing Powered by Cognero. Page 4
   TOPICS: 1.3 Quantitative Analysis
   KEYWORDS: Bloom’s: Understand
9. Frederic W. Taylor is credited with providing the foundation for quantitative methodology in the early part of the 20th
   century.
   a. True
   b. False
   ANSWER: True
   POINTS: 1
   DIFFICULTY: Easy
   LEARNING OBJECTIVES: IMS.ASWC.19.01.01 – 1.1
   NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
   TOPICS: 1.1 Problem Solving and Decision Making
   KEYWORDS: Bloom’s: Remember
10. To identify the choice that provides the highest profit and also uses the fewest employees, we apply a single-criterion
    decision process.
    a. True
    b. False
    ANSWER: False
    POINTS: 1
    DIFFICULTY: Moderate
    LEARNING OBJECTIVES: IMS.ASWC.19.01.01 – 1.1
    NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
    TOPICS: 1.1 Problem Solving and Decision Making
    KEYWORDS: Bloom’s: Understand
11. The most critical component in determining the success or failure of any quantitative approach to decision making is
    problem definition.
    a. True
    b. False
    ANSWER: True
    POINTS: 1
    DIFFICULTY: Easy
    LEARNING OBJECTIVES: IMS.ASWC.19.01.03 – 1.3
    NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking
    TOPICS: 1.3 Quantitative Analysis
    KEYWORDS: Bloom’s: Remember
12. The first step in the decision-making process is to identify the problem.
    a. True
    b. False
    ANSWER: True
    POINTS: 1
    DIFFICULTY: Easy