Course Introduction
Management Science
Study Guide Questions
Management Science is an interdisciplinary field that leverages quantitative, analytical, and computational methods to aid decision-making and problem-solving within organizations. This course introduces students to mathematical modeling, statistical analysis, optimization, simulation, and data-driven strategies that support effective management across various business functions. Students will learn how to formulate real-world problems, interpret model outcomes, and apply these tools to challenges such as resource allocation, scheduling, forecasting, and risk analysis, ultimately enhancing organizational performance and decision quality.
Recommended Textbook Business Statistics For Contemporary Decision Making 9th Edition by Ken Black
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Page 2
Chapter 1: Introduction to Statistics
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Sample Questions
Q1) When a person collects information from the entire population,this is called a
A) parameter
B) sample
C) population
D) census
E) statistic
Answer: D
Q2) Which of the following measurement processes is least likely to yield usable data?
A) Counting the number of shoppers entering the department store between 12 pm and 2 pm.
B) Studying cell phone bills and recording the number of text messages sent per month.
C) Performing a consumer survey of preferences in fast food chains
D) Asking students to list three things that are important to them.
E) Calculating the percent of college students who work at least 20 hours while attending school.
Answer: D
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Chapter 2: Charts and Graphs
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Sample Questions
Q1) Consider a scatterplot showing the relationship between years of formal education and life expectancy.Which of the following statements is false?
A) If more years of formal education are correlated with higher life expectancy, then the scatterplot would exhibit a positive slope.
B) If more years of formal education are not correlated with higher life expectancy, then the scatterplot would exhibit a flat slope.
C) If more years of formal education are not correlated with higher life expectancy, then the scatterplot would exhibit a flat or negative slope.
D) If more years of formal education are negatively correlated with higher life expectancy, then the scatterplot would exhibit a negative slope.
E) If other research shows a causal effect between years of formal education and higher life expectancy (additional years of formal education cause a higher life expectancy), then the scatterplot could not be flat.
Answer: C
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4
Chapter 3: Descriptive Statistics
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Sample Questions
Q1) Your company is testing a new auto engine in a race car.The race car is going in a 2-mile track.If the first lap was exactly at 2 minutes,so that the average speed for the first lap was 1.00 mile per minute,what would be the time required for the second lap so that the overall average speed will be 2 miles per minute?
A) It's not possible to end up with an overall average speed of 4 miles per minute.
B) 1.0 minute
C) 0.8 minutes
D) 0.6 minutes
E) 0.4 minutes
Answer: A
Q2) Skewness and kurtosis of a data set are measures of the shape of the distribution. A)True
B)False
Answer: True
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Chapter 4: Probability
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Sample Questions
Q1) It is known that 20% of all students in some large university are overweight,20% exercise regularly and 2% are overweight and exercise regularly.What is the probability that a randomly selected student is overweight given that this student exercises regularly?
A) 0.40
B) 0.38
C) 0.20
D) 0.42
E) 0.10
Q2) Given P (A)= 0.45,P (B)= 0.30,P (A \(\cap\) B)= 0.05.Find P (A|B).
A) 0.45
B) 0.135
C) 0.30
D) 0.111
E) 0.167
Q3) An event that cannot be broken down into other events is called a certainty outcome.
A)True B)False
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Page 6
Chapter 5: Discrete Distributions
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Sample Questions
Q1) Ten policyholders file claims with CareFree Insurance. Three of these claims are fraudulent. Claims manager Earl Evans randomly selects three of the ten claims for thorough investigation. If x represents the number of fraudulent claims in Earl's sample,P(x=0)is _______________.
A) 0.0083
B) 0.3430
C) 0.0000
D) 0.2917
E) 0.8917
Q2) Suppose that the number of calls coming per minute into an airline reservation center follows a Poisson distribution.Assume that the mean is 3 calls per minute.The probability that at least two calls are received in a given two-minute period is _______.
A) 0.9822
B) 0.9824
C) 0.9826
D) 0.9828
E) 0.9830
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Chapter 6: Continuous Distributions
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Sample Questions
Q1) Let z be a normal random variable with mean 0 and standard deviation 1.The 90<sup>th</sup> percentile of z is ____________.
A) 1.645
B) -1.254
C) 1.960
D) 1.280
E) 1.650
Q2) Employees arrive at a cafeteria according to a Poisson process at an average rate of 30 employees per hour.The probability that after one employee arrives,the next one will arrive at least 3 minutes later is _________.
A) 0.223
B) 0.202
C) 0.183
D) 0.162
E) 0.143
Q3) The area under the standard normal distribution between 0 and 2 is twice the area between 0 and 1.
A)True
B)False
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Page 8
Chapter 7: Sampling and Sampling Distributions
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Sample Questions
Q1) If every unit of the population has the same probability of being selected to the sample,then the researcher is conducting random sampling.
A)True
B)False
Q2) Suppose 40% of all college students have a computer at home and a sample of 64 is taken. What is the probability that more than 30 of those in the sample have a computer at home?
A) 0.3686
B) 0.1314
C) 0.8686
D) 0.6314
E) 0.1343
Q3) The directory or map from which a sample is taken is called the census.
A)True
B)False
Q4) The mean of the sample means is the same as the mean of the population
A)True
B)False
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Chapter 8: Statistical Inference: Estimation for Single Populations
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Sample Questions
Q1) Catherine Chao,Director of Marketing Research,is evaluating consumer acceptance of a new toothpaste package. She randomly selects a sample of 200 households. Forty households prefer the new package to all other package designs. The 90% confidence interval for the population proportion is _________.
A) 0.199 to 0.201
B) 0.153 to 0.247
C) 0.164 to 0.236
D) 0.145 to 0.255
E) 0.185 to 0.275
Q2) A researcher wants to estimate the proportion of manufacturing companies that use the "six sigma" method.For this purpose,she takes a random sample of 50 manufacturing companies and finds out that 28 of them employ this method.The point estimate for the proportion of the population that uses this method is ______.
A) 0.88
B) 0.56
C) 0.44
D) 0.28
E) 0.22
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Page 10
Chapter 9: Statistical Inference: Hypothesis Testing for
Single Populations
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Sample Questions
Q1) David Desreumaux,VP of Human Resources of American First Banks (AFB),is reviewing the employee training programs of AFB banks. Based on a recent census of personnel,David knows that the variance of teller training time in the Southeast region is 8,and he wonders if the variance in the Southwest region is the same number. His staff randomly selected personnel files for 15 tellers in the Southwest Region,and determined that their mean training time was 25 hours and that the standard deviation was 4 hours. Assume that teller training time is normally distributed. Using \(\alpha\) = 0.10,the appropriate decision is ________.
A) increase the sample size
B) reduce the sample size
C) fail to reject the null hypothesis
D) maintain status quo
E) reject the null hypothesis
Q2) In conducting the z test of proportions,the sample proportion is computed by dividing the number of items being counted by the estimated total population.
A)True
B)False
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Page 11
Chapter 10: Statistical Inferences About Two Populations
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Sample Questions
Q1) If the sample sizes are small,but the populations are normally distributed and the population variances are known,the z-statistic can be used as the basis for statistical inferences about the difference in two population means using two independent random samples.
A)True
B)False
Q2) When finding a confidence interval for the difference between two population proportions we use the pooled estimate of the proportion.
A)True
B)False
Q3) A researcher is interested in estimating the difference in two population proportions.A sample of 400 from each population results in sample proportions of .61 and .64.The point estimate of the difference in the population proportions is _______.
A) -0.030
B) 0.625
C) 0.000
D) 0.400
E) 0.500
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Chapter 11: A Nalysis of Variance and Design of Experiments
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Sample Questions
Q1) A completely randomized design has been analyzed by using a one-way ANOVA.There are three treatment groups in the design,and each sample size is four.The mean for group 1 is 25.00 and for group 3 it is 27.50.MSE is 3.19.Using =0.05 there is a significant difference between these two groups.
A)True
B)False
Q2) Cindy Ho,VP of Finance at Discrete Components,Inc.(DCI),theorizes that the discount level offered to credit customers affects the average collection period on credit sales. Accordingly,she has designed an experiment to test her theory using four sales discount rates (0%,2%,4%,and 6%)by randomly assigning five customers to each sales discount rate.In Cindy's experiment,"sales discount rate" is ______.
A) the dependent variable
B) a treatment variable
C) a blocking variable
D) a concomitant variable
E) a constant
Q3) The F value for treatment will always increase if we include a blocking effect.
A)True
B)False
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Page 13
Chapter 12: Simple Regression Analysis and Correlation
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Sample Questions
Q1) If a scatter plot of variables X and Y shows a trend that can be summarized to a large degree by a straight line with slope 0.8 and y-intercept 0.2 (i.e.,Y = 0.2 + 0.8X),then the correlation coefficient between X and Y is ______.
A) 0.8, and there is a causal relation between X and Y (either X causes Y or Y causes X)
B) 0.2, and there is a causal relation between X and Y (either X causes Y or Y causes X)
C) 0.8, but there is no causal relation between X and Y
D) 0.2, but there is no causal relation between X and Y
E) 0.8, and there may be a causal relation between X and Y, but not necessarily
Q2) A researcher has developed a regression model from fourteen pairs of data points.He wants to test if the slope is significantly different from zero.He uses a two? tailed test and \(\alpha\) = 0.01.The critical table t value is _______.
A) 2.650
B) 3.012
C) 3.055
D) 2.718
E) 2.168
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Chapter 13: Multiple Regression Analysis
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Sample Questions
Q1) A market analyst is developing a regression model to predict monthly household expenditures on groceries as a function of family size,household income,and household neighborhood (urban,suburban,and rural).The "income" variable in this model is ____.
A) an indicator variable
B) a response variable
C) a qualitative variable
D) a dependent variable
E) an independent variable
Q2) In a multiple regression model,the proportion of the variation of the dependent variable,y,accounted for the independent variables in the regression model is given by the coefficient of multiple correlation.
A)True
B)False
Q3) The mean square error (MS<sub>err</sub>)is calculated by dividing the sum of squares error (SS<sub>err</sub>)by the number of error degrees of freedom (df<sub>err</sub>).
A)True
B)False
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Chapter 14: Building Multiple Regression Models
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Sample Questions
Q1) A research project was conducted to study the effect of a chemical on undesired insects.The researcher uses 6 dose levels,and at each level exposes 250 insects to the chemical and proceeds to count the number of insects that die.The researcher uses a binary logistic regression model to estimate the probability of death as a function of dose. Shown below is Minitab output from a logistic regression. Coefficients
Term Coef SE Coef 95% CI Z-Value P-Value VIF
Constant -2.644 0.156 (-2.950,-2.338) -16.94 0.000
Dose 0.6740 0.0391 (0.5973,0.7506) 17.23 0.000 1.00
Odd Ratios for Continuous Predictors
Odds Ratio 95% CI
Dose 1.9621 (1.8173,2.1184)
The predicted probability that an insect will die when exposed to the first dose is ____.
A) 0.0814
B) 0.1046
C) 0.1153
D) 0.1224
E) 0.1395
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Page 16
Chapter 15: Time-Series Forecasting and Index Numbers
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Sample Questions
Q1) Autocorrelation in a regression forecasting model can be detected by the F test.
A)True
B)False
Q2) When forecasting with exponential smoothing,data from previous periods is
A) given equal importance
B) given exponentially increasing importance
C) ignored
D) given exponentially decreasing importance
E) linearly decreasing importance
Q3) Suppose that for a time-series model,you compute a Durbin-Watson statistic D = 1.409.Assume that n = 30 and = 0.05.Then your decision is ______.
A) fail to reject the null hypothesis D = 0
B) reject the null hypothesis D = 0
C) fail to reject the null hypothesis = 0
D) reject the null hypothesis = 0
E) fail to reject the null hypothesis > 0
Q4) The long-term general direction of data is referred to as series.
A)True
B)False
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Chapter 16: Analysis of Categorical Data
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Sample Questions
Q1) A market researcher is studying the use of coupons by consumers of varying ages.She classifies consumers into four age categories and counts the number of grocery store customers who use at least one coupon during check out.It is expected that data are uniformly distributed across the four age categories.The observed data results in frequencies of 22,35,32,and 21.Using \(\alpha\) = .05,the appropriate decision is _______.
A) do not reject the null hypothesis that the observed distribution is uniform B) do not reject the null hypothesis that the observed distribution is not uniform C) reject the null hypothesis that the observed distribution is uniform D) reject the null hypothesis that the observed distribution is not uniform E) do nothing
Q2) The number of degrees of freedom in a chi-square goodness-of-fit test is the number of categories minus the number of parameters estimated. A)True B)False
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Chapter 17: Nonparametric Statistics
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Sample Questions
Q1) Statistical techniques based on assumptions about the population from which the sample data are selected are called _______.
A) population statistics
B) parametric statistics
C) nonparametric statistics
D) chi-square statistics
E) correlation statistics
Q2) When only ordinal-level data are available,Spearman's rank correlation rather than the Pearson product-moment correlation coefficient must be used to analyze the association between two variables.
A)True
B)False
Q3) In the one-sample runs test for randomness of the observations in a large sample the sampling distribution of R,the number of runs,is approximately binomial.
A)True
B)False
Q4) The nonparametric alternative to linear regression is the Kruskal-Wallis test.
A)True
B)False
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Chapter 18: Statistical Quality Control
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Sample Questions
Q1) According to Garvin,transcendent quality implies that a product __________.
A) conforms to design and engineering specifications
B) has an innate excellence
C) has no measurable attributes
D) is fit for the consumer's intended use
E) has measurable attributes
Q2) Jack Joyner,Director of Quality Control at Covington Castings (CC),is designing a c chart to monitor the number of nonconformances per aluminum casting produced at CC. The total number of nonconformances for 26 castings is 91. The centerline for Jack's c chart is ___________.
A) 117.00
B) 0.2857
C) 3.50
D) 65.00
E) 26.00
Q3) Edward Deming is a quality guru whose principles of quality management can be summarized through four basic tenets,or "Absolutes".
A)True
B)False
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Chapter 19: Decision Analysis
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Q1) In decision-making under risk,the expected monetary payoff of perfect information is the weighted average of the best payoff for each state of nature (using the probability of the state of nature as the weight).
A)True
B)False
Q2) In a decision-making scenario,if the decision maker knows which state of nature will occur,the scenario is called decision-making under certainty.
A)True
B)False
Q3) In decision-making under uncertainty,the approach that considers only the best and the worst payoffs for each decision alternative is the __________.
A) maximin criterion
B) maximax criterion
C) Hurwicz criterion
D) minimax regret strategy
E) maximin regret strategy
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