Question 1

A controllable variable is also called a

Accepted Answer

A) parameter. 
B) decision variable. 
C) mathematical model. 
D) measurable quantity. 
A) parameter. 
B) decision variable. 
C) mathematical model. 
D) measurable quantity.

Question 2

The break-even point is an example of a

Accepted Answer

A) postoptimality model. 
B) quantitative analysis model. 
C) schematic model. 
D) sensitivity analysis model. 
A) postoptimality model. 
B) quantitative analysis model. 
C) schematic model. 
D) sensitivity analysis model.

Question 3

Expressing profits through the relationship among unit price, fixed costs, and variable costs is an example of

Accepted Answer

A) a sensitivity analysis model. 
B) a quantitative analysis model. 
C) a postoptimality relationship. 
D) a parameter specification model. 
A) a sensitivity analysis model. 
B) a quantitative analysis model. 
C) a postoptimality relationship. 
D) a parameter specification model.

Question 4

Models that do not involve risk or chance are

Accepted Answer

A) probabilistic models. 
B) postoptimality models. 
C) deterministic models. 
D) MIS models. 
A) probabilistic models. 
B) postoptimality models. 
C) deterministic models. 
D) MIS models.

Question 5

A(n)________ is a representation of reality or a real-life situation.

Accepted Answer

A) objective 
B) model 
C) analysis 
D) algorithm 
A) objective 
B) model 
C) analysis 
D) algorithm

Question 6

The analyst waited anxiously at his computer and finally the answer appeared - he would need 57 chickens to fund his retirement plan.Still, he had some nagging doubts about some assumptions he had made and he wondered how much faith he should put into the answer of 57.In order to test how reliable the figure 57 is, the analyst should conduct

Accepted Answer

A) simulation. 
B) shock tests. 
C) sensitivity analysis. 
D) focus groups. 
A) simulation. 
B) shock tests. 
C) sensitivity analysis. 
D) focus groups.

Question 7

What is the formula for the break-even point of a simple profit model?

Accepted Answer

A) Fixed Cost / Variable Cost Per Unit 
B) (Selling Price Per Unit - Variable Cost Per Unit)/ Fixed Cost 
C) Fixed Cost / (Selling Price Per Unit - Variable Cost Per Unit) 
D) Fixed Cost / (Variable Cost Per Unit - Selling Price Per Unit) 
A) Fixed Cost / Variable Cost Per Unit 
B) (Selling Price Per Unit - Variable Cost Per Unit)/ Fixed Cost 
C) Fixed Cost / (Selling Price Per Unit - Variable Cost Per Unit) 
D) Fixed Cost / (Variable Cost Per Unit - Selling Price Per Unit)

Question 8

If the quantitative analyst is not an integral element of the department facing the problem

Accepted Answer

A) the solution is usually not accepted and implemented. 
B) analyst morale is usually higher. 
C) departmental morale is improved. 
D) sometimes the modeling activity becomes an end to itself. 
A) the solution is usually not accepted and implemented. 
B) analyst morale is usually higher. 
C) departmental morale is improved. 
D) sometimes the modeling activity becomes an end to itself.

Question 9

During World War II, many new scientific and quantitative techniques were developed to assist the military, and these developments were so successful that many companies started using similar techniques in managerial decision making and planning after the war.

Accepted Answer

A) True 
 B)False

Question 10

A measurable quantity that is inherent in the problem is called a(n)

Accepted Answer

A) decision variable. 
B) uncontrollable variable. 
C) algorithm. 
D) parameter. 
A) decision variable. 
B) uncontrollable variable. 
C) algorithm. 
D) parameter.

Question 11

A series of steps or procedures that are repeated is known as an algorithm.

Accepted Answer

A) True 
 B)False

Question 12

Most data generated in a firm come from

Accepted Answer

A) customer comment/feedback cards. 
B) accounting reports. 
C) information technology. 
D) the worldwide web. 
A) customer comment/feedback cards. 
B) accounting reports. 
C) information technology. 
D) the worldwide web.

Question 13

Identify the steps of the quantitative analysis approach.

Accepted Answer

(1)Defining the Problem, (2)De

Question 14

Which of these pairs of terms is in the order of greater scope to smaller scope?

Accepted Answer

A) business analytics - predictive analytics 
B) predictive analytics - prescriptive analytics 
C) prescriptive analytics - descriptive analytics 
D) descriptive analytics - business analytics 
A) business analytics - predictive analytics 
B) predictive analytics - prescriptive analytics 
C) prescriptive analytics - descriptive analytics 
D) descriptive analytics - business analytics

Question 15

In the early 1900s, Henry Ford pioneered the principles of the scientific approach to management.

Accepted Answer

A) True 
 B)False

Question 16

What is his break-even point in dozens?

Accepted Answer

580/(5-1.7

A controllable variable is also called a

The break-even point is an example of a

Expressing profits through the relationship among unit price, fixed costs, and variable costs is an example of

Models that do not involve risk or chance are

A(n)________ is a representation of reality or a real-life situation.

What is the formula for the break-even point of a simple profit model?

If the quantitative analyst is not an integral element of the department facing the problem

During World War II, many new scientific and quantitative techniques were developed to assist the military, and these developments were so successful that many companies started using similar techniques in managerial decision making and planning after the war.

A measurable quantity that is inherent in the problem is called a(n)

A series of steps or procedures that are repeated is known as an algorithm.

Most data generated in a firm come from

Identify the steps of the quantitative analysis approach.

Which of these pairs of terms is in the order of greater scope to smaller scope?

In the early 1900s, Henry Ford pioneered the principles of the scientific approach to management.

What is his break-even point in dozens?

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation, Assignment, and Network Models

Integer Programming, Goal Programming, and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Game Theory

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

Transportation, Assignment, and Network Algorithms

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Exam 1: Introduction to Quantitative Analysis

A controllable variable is also called a

The break-even point is an example of a

Expressing profits through the relationship among unit price, fixed costs, and variable costs is an example of

Models that do not involve risk or chance are

A(n)________ is a representation of reality or a real-life situation.

What is the formula for the break-even point of a simple profit model?

If the quantitative analyst is not an integral element of the department facing the problem

During World War II, many new scientific and quantitative techniques were developed to assist the military, and these developments were so successful that many companies started using similar techniques in managerial decision making and planning after the war.

A measurable quantity that is inherent in the problem is called a(n)

A series of steps or procedures that are repeated is known as an algorithm.

Most data generated in a firm come from

Identify the steps of the quantitative analysis approach.

Which of these pairs of terms is in the order of greater scope to smaller scope?

In the early 1900s, Henry Ford pioneered the principles of the scientific approach to management.

What is his break-even point in dozens?

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation, Assignment, and Network Models

Integer Programming, Goal Programming, and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Game Theory

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

Transportation, Assignment, and Network Algorithms

Filters