Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 7th Edition - Test Bank
About this item
1. The essence
of decision
analysis is:
a. breaking down
complex situations
into manageable
elements.
b.
choosing the
best course
of action
among alternatives.
c.
finding
the root
cause of
why something has
gone wrong.
d.
thinking ahead
to avoid negative
consequences.
ANSWER: b
2.
Why would someone wish to use a spreadsheet model?
a. To implement
a computer model.
b.
Because spreadsheets are convenient.
c.
To
analyze decision
alternatives.
d.
All
of these.
ANSWER: d
3. Which of the following fields
of study is defined in
Chapter One as the
one that "uses computers, statistics,
and mathematics
to solve
business problems"?
a. Accounting
b.
Information
systems
c.
Business
analytics
d.
Scientific
management
ANSWER: c
4.
In
a decision-making problem, anchoring effects occur when
a. decision makers
are tied too
closely to previous
decisions.
b.
organizations refuse to consider
new alternatives.
c.
a seemingly trivial factor serves as a starting
point for estimations.
d.
a person in a position
of authority exerts his or her opinion very forcefully.
ANSWER: c
5.
Virtually everyone who uses a spreadsheet today for model building and decision making
a. is a practitioner of business analytics.
b.
possesses an
advanced knowledge
of mathematics and
computer programming
languages.
c.
is a CPA.
d.
is
in a position to influence decision makers.
ANSWER: a
6. Which of the following
statements is true
of using models
in problem solving
and decision analysis?
a. It is a fairly new idea.
b.
It
is required in
order to
find good solutions.
c.
It is something everyone has done before.
d.
It
is tied
to the
use of computers.
ANSWER: c
7.
A road map is an example of
a. a mathematical model.
b.
a mental model.
c.
a physical model.
d.
a visual model.
ANSWER: d
8.
The
textbook figure
of the
problem-solving process is
an example
of a
a. mental model.
b.
prescriptive
model.
c.
graphical
model.
d.
visual
model.
ANSWER: d
9.
Which
of the
following is
most likely
to be
used when
faced with
the decision
of how
to arrange furniture
in a room?
a. Mathematical model
b.
Mental model
c.
Physical model
d.
Visual
model
ANSWER: b
10. To illustrate how a complex system will be built, an engineer will likely use a
a. mathematical model.
b.
mental
model.
c.
physical model.
d.
visual
model.
ANSWER: d
11. Which of
the following
is the
type of
model used
throughout this
textbook?
a. Mathematical model
b.
Mental model
c.
Physical model
d.
Visual
model
ANSWER: a
12. The best
models
a. accurately reflect
relevant characteristics
of the
real-world object
or decision.
b.
are
mathematical models.
c.
replicate
all aspects
of the real-world
object or
decision.
d.
replicate
the characteristics
of a component in isolation from the rest of the system.
ANSWER: a
13. A mathematical model is considered to be "valid" when
a. it accurately represents the relevant
characteristics of the object
or decision.
b.
it has passed
a validation test.
c.
it
replicates all aspects
of the
object or
decision.
d.
the
left-hand and right-hand sides of expressions are
equal.
ANSWER: a
14. All of
the following
are benefits
of modeling
except:
a. Modeling delivers needed
information on a more timely basis.
b.
Modeling finds the right
answers to incorrect or
flawed problem statements.
c.
Modeling
is helpful in examining
things that would be impossible
to do
in reality.
d.
Modeling is
less expensive
than implementing
several 1. The essence
of decision
analysis is: a. breaking down
complex situations
into manageable
elements. b.
choosing the
best course
of action
among alternatives. c.
finding
the root
cause of
why something has
gone wrong. d.
thinking ahead
to avoid negative
consequences. ANSWER: b 2.
Why would someone wish to use a spreadsheet model? a. To implement
a computer model. b.
Because spreadsheets are convenient. c.
To
analyze decision
alternatives. d.
All
of these. ANSWER: d 3. Which of the following fields
of study is defined in
Chapter One as the
one that "uses computers, statistics,
and mathematics
to solve
business problems"? a. Accounting b.
Information
systems c.
Business
analytics d.
Scientific
management ANSWER: c 4.
In
a decision-making problem, anchoring effects occur when a. decision makers
are tied too
closely to previous
decisions. b.
organizations refuse to consider
new alternatives. c.
a seemingly trivial factor serves as a starting
point for estimations. d.
a person in a position
of authority exerts his or her opinion very forcefully. ANSWER: c 5.
Virtually everyone who uses a spreadsheet today for model building and decision making a. is a practitioner of business analytics. b.
possesses an
advanced knowledge
of mathematics and
computer programming
languages. c.
is a CPA. d.
is
in a position to influence decision makers. ANSWER: a 6. Which of the following
statements is true
of using models
in problem solving
and decision analysis? a. It is a fairly new idea. b.
It
is required in
order to
find good solutions. c.
It is something everyone has done before. d.
It
is tied
to the
use of computers. ANSWER: c 7.
A road map is an example of a. a mathematical model. b.
a mental model. c.
a physical model. d.
a visual model. ANSWER: d 8.
The
textbook figure
of the
problem-solving process is
an example
of a a. mental model. b.
prescriptive
model. c.
graphical
model. d.
visual
model. ANSWER: d 9.
Which
of the
following is
most likely
to be
used when
faced with
the decision
of how
to arrange furniture
in a room? a. Mathematical model b.
Mental model c.
Physical model d.
Visual
model ANSWER: b 10. To illustrate how a complex system will be built, an engineer will likely use a a. mathematical model. b.
mental
model. c.
physical model. d.
visual
model. ANSWER: d 11. Which of
the following
is the
type of
model used
throughout this
textbook? a. Mathematical model b.
Mental model c.
Physical model d.
Visual
model ANSWER: a 12. The best
models a. accurately reflect
relevant characteristics
of the
real-world object
or decision. b.
are
mathematical models. c.
replicate
all aspects
of the real-world
object or
decision. d.
replicate
the characteristics
of a component in isolation from the rest of the system. ANSWER: a 13. A mathematical model is considered to be "valid" when a. it accurately represents the relevant
characteristics of the object
or decision. b.
it has passed
a validation test. c.
it
replicates all aspects
of the
object or
decision. d.
the
left-hand and right-hand sides of expressions are
equal. ANSWER: a 14. All of
the following
are benefits
of modeling
except: a. Modeling delivers needed
information on a more timely basis. b.
Modeling finds the right
answers to incorrect or
flawed problem statements. c.
Modeling
is helpful in examining
things that would be impossible
to do
in reality. d.
Modeling is
less expensive
than implementing
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Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 7th Edition - Test Bank
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 7th Edition - Test Bank
1. The essence
of decision
analysis is:
a. breaking down
complex situations
into manageable
elements.
b.
choosing the
best course
of action
among alternatives.
c.
finding
the root
cause of
why something has
gone wrong.
d.
thinking ahead
to avoid negative
consequences.
ANSWER: b
2.
Why would someone wish to use a spreadsheet model?
a. To implement
a computer model.
b.
Because spreadsheets are convenient.
c.
To
analyze decision
alternatives.
d.
All
of these.
ANSWER: d
3. Which of the following fields
of study is defined in
Chapter One as the
one that "uses computers, statistics,
and mathematics
to solve
business problems"?
a. Accounting
b.
Information
systems
c.
Business
analytics
d.
Scientific
management
ANSWER: c
4.
In
a decision-making problem, anchoring effects occur when
a. decision makers
are tied too
closely to previous
decisions.
b.
organizations refuse to consider
new alternatives.
c.
a seemingly trivial factor serves as a starting
point for estimations.
d.
a person in a position
of authority exerts his or her opinion very forcefully.
ANSWER: c
5.
Virtually everyone who uses a spreadsheet today for model building and decision making
a. is a practitioner of business analytics.
b.
possesses an
advanced knowledge
of mathematics and
computer programming
languages.
c.
is a CPA.
d.
is
in a position to influence decision makers.
ANSWER: a
6. Which of the following
statements is true
of using models
in problem solving
and decision analysis?
a. It is a fairly new idea.
b.
It
is required in
order to
find good solutions.
c.
It is something everyone has done before.
d.
It
is tied
to the
use of computers.
ANSWER: c
7.
A road map is an example of
a. a mathematical model.
b.
a mental model.
c.
a physical model.
d.
a visual model.
ANSWER: d
8.
The
textbook figure
of the
problem-solving process is
an example
of a
a. mental model.
b.
prescriptive
model.
c.
graphical
model.
d.
visual
model.
ANSWER: d
9.
Which
of the
following is
most likely
to be
used when
faced with
the decision
of how
to arrange furniture
in a room?
a. Mathematical model
b.
Mental model
c.
Physical model
d.
Visual
model
ANSWER: b
10. To illustrate how a complex system will be built, an engineer will likely use a
a. mathematical model.
b.
mental
model.
c.
physical model.
d.
visual
model.
ANSWER: d
11. Which of
the following
is the
type of
model used
throughout this
textbook?
a. Mathematical model
b.
Mental model
c.
Physical model
d.
Visual
model
ANSWER: a
12. The best
models
a. accurately reflect
relevant characteristics
of the
real-world object
or decision.
b.
are
mathematical models.
c.
replicate
all aspects
of the real-world
object or
decision.
d.
replicate
the characteristics
of a component in isolation from the rest of the system.
ANSWER: a
13. A mathematical model is considered to be "valid" when
a. it accurately represents the relevant
characteristics of the object
or decision.
b.
it has passed
a validation test.
c.
it
replicates all aspects
of the
object or
decision.
d.
the
left-hand and right-hand sides of expressions are
equal.
ANSWER: a
14. All of
the following
are benefits
of modeling
except:
a. Modeling delivers needed
information on a more timely basis.
b.
Modeling finds the right
answers to incorrect or
flawed problem statements.
c.
Modeling
is helpful in examining
things that would be impossible
to do
in reality.
d.
Modeling is
less expensive
than implementing
several 1. The essence
of decision
analysis is: a. breaking down
complex situations
into manageable
elements. b.
choosing the
best course
of action
among alternatives. c.
finding
the root
cause of
why something has
gone wrong. d.
thinking ahead
to avoid negative
consequences. ANSWER: b 2.
Why would someone wish to use a spreadsheet model? a. To implement
a computer model. b.
Because spreadsheets are convenient. c.
To
analyze decision
alternatives. d.
All
of these. ANSWER: d 3. Which of the following fields
of study is defined in
Chapter One as the
one that "uses computers, statistics,
and mathematics
to solve
business problems"? a. Accounting b.
Information
systems c.
Business
analytics d.
Scientific
management ANSWER: c 4.
In
a decision-making problem, anchoring effects occur when a. decision makers
are tied too
closely to previous
decisions. b.
organizations refuse to consider
new alternatives. c.
a seemingly trivial factor serves as a starting
point for estimations. d.
a person in a position
of authority exerts his or her opinion very forcefully. ANSWER: c 5.
Virtually everyone who uses a spreadsheet today for model building and decision making a. is a practitioner of business analytics. b.
possesses an
advanced knowledge
of mathematics and
computer programming
languages. c.
is a CPA. d.
is
in a position to influence decision makers. ANSWER: a 6. Which of the following
statements is true
of using models
in problem solving
and decision analysis? a. It is a fairly new idea. b.
It
is required in
order to
find good solutions. c.
It is something everyone has done before. d.
It
is tied
to the
use of computers. ANSWER: c 7.
A road map is an example of a. a mathematical model. b.
a mental model. c.
a physical model. d.
a visual model. ANSWER: d 8.
The
textbook figure
of the
problem-solving process is
an example
of a a. mental model. b.
prescriptive
model. c.
graphical
model. d.
visual
model. ANSWER: d 9.
Which
of the
following is
most likely
to be
used when
faced with
the decision
of how
to arrange furniture
in a room? a. Mathematical model b.
Mental model c.
Physical model d.
Visual
model ANSWER: b 10. To illustrate how a complex system will be built, an engineer will likely use a a. mathematical model. b.
mental
model. c.
physical model. d.
visual
model. ANSWER: d 11. Which of
the following
is the
type of
model used
throughout this
textbook? a. Mathematical model b.
Mental model c.
Physical model d.
Visual
model ANSWER: a 12. The best
models a. accurately reflect
relevant characteristics
of the
real-world object
or decision. b.
are
mathematical models. c.
replicate
all aspects
of the real-world
object or
decision. d.
replicate
the characteristics
of a component in isolation from the rest of the system. ANSWER: a 13. A mathematical model is considered to be "valid" when a. it accurately represents the relevant
characteristics of the object
or decision. b.
it has passed
a validation test. c.
it
replicates all aspects
of the
object or
decision. d.
the
left-hand and right-hand sides of expressions are
equal. ANSWER: a 14. All of
the following
are benefits
of modeling
except: a. Modeling delivers needed
information on a more timely basis. b.
Modeling finds the right
answers to incorrect or
flawed problem statements. c.
Modeling
is helpful in examining
things that would be impossible
to do
in reality. d.
Modeling is
less expensive
than implementing
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