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Quantitative Analysis for Management 13th Edition Test Bank

Simplify your study sessions with Quantitative Analysis for Management 13th Edition Test Bank, an exam guide designed for effective revision and maximum retention.

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Quantitative Analysis for Management, 13e(Render et al.)Chapter 1 Introduction to Quantitative Analysis1) Interviews, statistical sampling, and company reports provide input data for quantitativeanalysis models.Answer: TRUEDiff: ModerateTopic: THE QUANTITATIVE ANALYSIS APPROACHLO: 1.3: Describe the use of modeling in quantitative analysis.AACSB: Analytical thinkingClassification: Concept2) In the early 1900s, Henry Ford pioneered the principles of the scientific approach tomanagement.Answer: FALSEDiff: ModerateTopic: WHAT IS QUANTITATIVE ANALYSIS?LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a realsituation.AACSB: Analytical thinkingClassification: Concept3) Managers do not need to be familiar with the limitations, assumptions, and/or specificapplicability of the quantitative analysis technique to use it for accurate decision making.Answer: FALSEDiff: ModerateTopic: INTRODUCTIONLO: 1.6: Recognize possible problems in using quantitative analysis.AACSB: Analytical thinkingClassification: Concept4) During World War II, many new scientific and quantitative techniques were developed toassist the military, and these developments were so successful that many companies started usingsimilar techniques in managerial decision making and planning after the war.Answer: TRUEDiff: ModerateTopic: WHAT IS QUANTITATIVE ANALYSIS?LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a realsituation.AACSB: Analytical thinkingClassification: Concept

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Quantitative Analysis For Managemen...

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