Math 540

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Introduction to Management Science, 11e (Taylor) Chapter 1 Management Science 1) Management science involves the philosophy of approaching a problem in a subjective manner. Answer: FALSE Diff: 1 Page Ref: 2 Section Heading: The Management Science Approach to Problem Solving Keywords: scientific approach AACSB: Analytic skills 2) Management science techniques can be applied only to business and military organizations. Answer: FALSE Diff: 1 Page Ref: 2 Section Heading: The Management Science Approach to Problem Solving Keywords: scientific approach, problem solving AACSB: Analytic skills 3) Management scientists use the terms "data" and "information" interchangeably--that is, the two terms mean the same…show more content…
Answer: FALSE Diff: 1 Page Ref: 10 Section Heading: Model Building: Break-Even Analysis Keywords: break-even analysis AACSB: Analytic skills 18) If variable costs increase, but price and fixed costs are held constant, the break-even point will decrease. Answer: FALSE Diff: 2 Page Ref: 11 Section Heading: Model Building: Break-Even Analysis Keywords: break-even analysis AACSB: Analytic skills 19) Managers utilize spreadsheets to conduct their own analyses in management science studies. Answer: TRUE Diff: 2 Page Ref: 12 Section Heading: Computer Solution Keywords: spreadsheets AACSB: Analytic skills 20) Management science techniques focus primarily on observation, model construction, and implementation to find an appropriate solution to a problem. Answer: FALSE Diff: 2 Page Ref: 15 Section Heading: Management Science Modeling Techniques Keywords: mgt science modeling techniques, steps of the scientific method AACSB: Analytic skills 21) Management science modeling techniques focus on model construction and problem solution. Answer: TRUE Diff: 2 Page Ref: 15 Section Heading: Management Science Modeling Techniques Keywords: mgt science model techniques, model constr, prob solution AACSB:
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