Course Introduction
Management Science
Test Questions
Management Science is an analytical and systematic approach to solving organizational problems and supporting decision-making processes using quantitative methods. This course introduces students to key concepts such as mathematical modeling, optimization, simulation, and statistical analysis, with an emphasis on applying these techniques to real-world business challenges. Students learn to develop and interpret models to improve efficiency, productivity, and strategic planning in various organizational contexts, preparing them to address complex managerial issues by integrating data-driven insights with practical decision-making skills.
Recommended Textbook
Business Statistics A Decision Making Approach 8th Edition by David F. Groebner
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Page 2
Chapter 1: The Where, why, and How of Data Collection
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167 Verified Questions
167 Flashcards
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Sample Questions
Q1) If a systematic random sample is to be selected of size 100 from a population with 5,000 items,the first item selected from the ordered population will be:
A)randomly selected between 1 and 100.
B)randomly selected between 1 and 50.
C)any randomly selected value between 1 and 5,000.
D)item 50.
Answer: B
Q2) A cell phone service provider has 14,000 customers.Recently,the sales department selected a random sample of 400 customer accounts and recorded the number of minutes of long distance time used during the previous billing period.The company analyst used Excel to sort these values in order from high to low.She then assigned the highest value a rank of 1,the next highest value a rank of 2,and so forth.These ranks would be considered to be ordinal data.
A)True
B)False
Answer: True
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Chapter 2: Graphs,charts and Tablesdescribing Your Data
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Sample Questions
Q1) When using the Histogram tool in Excel to construct a frequency distribution and histogram,if the first bin value is 10 and the second bin value is 20,the frequency count for the second class will include all values from 10 up to,but not including,20.
A)True
B)False
Answer: False
Q2) Sawyer & Company is a law firm in Dallas,Texas.Recently,the administrative manager prepared a report for the managing partners that showed the number of court cases handled by the firm monthly over the past three years.It was appropriate for her to use a line chart in this case.
A)True
B)False
Answer: True
Q3) A bar chart possesses which of the following?
A)Capability of displaying the distribution for a quantitative variable
B)The option of displaying the data in scatter diagram form
C)The option for displaying two or more variables on the same chart
D)An easy method for displaying the general shape of a continuous variable
Answer: C
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Chapter 3: Describing Data Using Numerical Measures
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Sample Questions
Q1) Data was collected on the number of television sets in a household,and it was found that the mean was 3.5 and the standard deviation was 0.75. Based on these sample data what is the standardized value corresponding to 5 televisions?
A)-2.00
B)1.5
C)2.00
D)1.125
Answer: C
Q2) For a given set of data,if the data are treated as a population,the calculated standard deviation will be less than it would be had the data been treated as a sample.
A)True
B)False
Answer: True
Q3) One of the primary advantages of using the median as a measure of the center for a set of data is that the median is not affected by extreme values in the data. A)True
B)False
Answer: True
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5
Chapter 4: Using Probability and Probability Distributions
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Sample Questions
Q1) At a potato processing plant in the state of Washington,400 potatoes have been examined for disease.Of these,four were diseased.Based on this,the plant manager has stated that the probability of finding a diseased potato is 0.01.He is applying subjective probability to arrive at this 0.01 value.
A)True
B)False
Q2) Of the last 100 customers entering a computer shop,25 have purchased a computer.If the classical probability assessment for computing probability is used,the probability that the next customer will purchase a computer is
A)0.25.
B)0.50.
C)1.00.
D)0.75.
Q3) One of the difficulties in using the relative frequency of occurrence method for assessing probabilities in business situations is getting a large enough set of examples that match the one in question.
A)True
B)False
Q4) Explain what is meant by the term mutually exclusive events.Cite an example.
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Chapter 5: Discrete Probability Distributions
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Sample Questions
Q1) The number of defects discovered in a random sample of 100 products produced at the Berdan Manufacturing Company is binomially distributed with p = .03.Based on this,the standard deviation of the number of defects per sample of size 100 is 2.91.
A)True
B)False
Q2) A package delivery service claims that no more than 5 percent of all packages arrive at the address late.Assuming that the conditions for the binomial hold,if a sample of size 10 packages is randomly selected,and the 5 percent rate holds,what is the probability that exactly 2 packages in the sample arrive late?
A)0.0746
B)0.9884
C)0.2347
D)0.0439
Q3) The number of customers who arrive at a fast food business during a one-hour period is known to be Poisson distributed with a mean equal to 8.60.The probability that between 2 and 3 customers inclusively will arrive in one hour is 0.0263.
A)True
B)False
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Chapter 6: Introduction to Continuous Probability
Distributions
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Sample Questions
Q1) At the West-Side Drive-Inn,customers arrive at the rate of 10 every 30 minutes.The time between arrivals is exponentially distributed.Based on this information,what is the probability that the time between two customers arriving will exceed 6 minutes?
Q2) The money spent by people at an amusement park,after paying to get in the gate,is thought to be uniformly distributed between $5.00 and $25.00.Based on this,what is the probability that someone will spend between $8.00 and $12.00?
Q3) The Varden Packaging Company has a contract to fill 50-gallon barrels with gasoline for use by the U.S.Army.The machine that Varden uses has an adjustable device that allows the average fill per barrel to be adjusted as desired.However,the actual distribution of fill volume from the machine is known to be normally distributed with a standard deviation equal to 0.5 gallons.The contract that Varden has with the military calls for no more than 2 percent of all barrels to contain less than 49.2 gallons of gasoline.In order to meet this requirement,Varden should set the mean fill to approximately 50.225 gallons.
A)True
B)False
Q4) What is the difference between a normal distribution and the standard normal distribution?
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Chapter 7: Introduction to Sampling Distributions
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Sample Questions
Q1) Which of the following statements is false?
A)Increasing the sample size will always reduce the size of the sampling error when the sample mean is used to estimate the population mean.
B)Increasing the sample size will reduce the potential for extreme sampling error.
C)Sampling error can occur when x differs from due to the fact that the sample was not a perfect reflection of the population.
D)There is no way to prevent sampling error short of taking a census of the entire population.
Q2) A major shipping company has stated that 96 percent of all parcels are delivered on time.To check this,a random sample of n = 200 parcels were sampled.Of these,184 arrived on time.If the company's claim is correct,what is the probability of 184 or fewer parcels arriving on time?
A)About 0.0019
B)Nearly 0.24
C)Just over 0.98
D)About 0.4981
Q3) Explain what is meant by the concept of sampling distribution.
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9
Chapter 8: Estimating Single Population Parameters
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Sample Questions
Q1) In determining the required sample size when estimating a population proportion,it is necessary to start with some idea of what that proportion is.
A)True B)False
Q2) When using a 95 percent confidence interval for a mean,the area in the upper tail of the distribution that is outside the interval is 5 percent.
A)True B)False
Q3) The produce manager for a large retail food chain is interested in estimating the percentage of potatoes that arrive on a shipment with bruises.A random sample of 150 potatoes showed 14 with bruises.Based on this information,what is the margin of error for a 95 percent confidence interval estimate?
A)0.0933
B)0.0466
C)0.0006
D)Can't be determined without knowing .
Q4) What are the disadvantages of using a small sample to estimate the population mean?
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Chapter 9: Introduction to Hypothesis Testing
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Sample Questions
Q1) When using the p-value method for a two-tailed hypothesis,the p-value is found by finding the area in the tail beyond the test statistic,then doubling it.
A)True
B)False
Q2) The critical value in a null hypothesis test is called alpha.
A)True
B)False
Q3) A national car rental chain believes that more than 80 percent of its customers are satisfied with the check-in process that the company is using.To test this,a random sample of n = 200 customers are surveyed.These sample results show 168 that say they were satisfied.If the test is to be conducted using a .05 level of significance,what is the critical value?
Q4) A small city is considering breaking away from the county school system and starting its own city school system.City leaders believe that more than 60 percent of residents support the idea.A poll of n = 215 residents is taken and 134 people say they support starting a city school district.Using a 0.10 level of significance,conduct a hypothesis test to determine whether this poll supports the belief of city leaders.
Q5) What is meant by the terms Type I and Type II statistical error?
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Chapter 10: Estimation and Hypothesis Testing for Two
Population
Parameters
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Sample Questions
Q1) If we are testing for the difference between the means of two paired populations with samples of n<sub>1</sub> = 20 and n<sub>2</sub> = 20,the number of degrees of freedom is equal to:
A)39.
B)38.
C)19.
D)18.
Q2) Under what conditions can the t-distribution be correctly employed to test the difference between two population means?
A)When the samples from the two populations are small and the population variances are unknown
B)When the two populations of interest are assumed to be normally distributed
C)When the population variances are assumed to be equal
D)All of the above.
Q3) When conducting a hypothesis test to determine whether or not two groups differ,using paired samples rather than independent samples has the advantage of controlling for sources of variation that might distort the conclusions of the study.
A)True
B)False
Page 12
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Chapter 11: Hypothesis Tests and Estimation for Population
Variances
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Sample Questions
Q1) If a one-tailed F-test is employed when testing a null hypothesis about two population variances,the test statistic is an F-value formed by taking the ratio of the two sample variances so that the sample variance predicted to be larger is placed in the numerator.
A)True
B)False
Q2) The F-distribution can only have positive values.
A)True
B)False
Q3) If a hypothesis test for a single population variance is to be conducted using a significance level of to 0.10,a sample size of n = 16,and the test is a one-tailed upper-tail test,the critical value is:
A)z = 1.28.
B)t = 1.345.
C)x<sup>2 </sup>= 22.3071.
D)x<sup>2 </sup>= 24.9958.
Q4) Because of the way the F-distribution is formed,all F-tests are one-tailed tests.
A)True
B)False
Page 13
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Chapter 12: Analysis of Variance
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Sample Questions
Q1) The general idea is that interaction between two factors means that the effect due to one of the factors is not uniform across all levels of the other factor.
A)True B)False
Q2) A fixed effects analysis of variance differs from a random-effects analysis of variance in the way in which the sums of squares are computed.
A)True B)False
Q3) Under what circumstances would you use a randomized complete block analysis of variance design instead of a one-way analysis of variance?
Q4) Analysis of variance can only be done for fixed effects.
A)True B)False
Q5) A randomized complete block analysis of variance allows the analyst to control for sources of variation that might adversely affect the analysis by using the concept of paired samples.
A)True B)False
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Page 14
Chapter 13: Goodness-Of-Fit Tests and Contingency Analysis
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Sample Questions
Q1) By combining cells we guard against having an inflated test statistic that could have led us to incorrectly accept the null hypothesis.
A)True
B)False
Q2) For a chi-square test involving a contingency table,suppose H<sub>0</sub> is rejected.We conclude that the two variables are:
A)curvilinear.
B)linear.
C)related.
D)not related.
Q3) Contingency analysis is used only for numerical data.
A)True
B)False
Q4) The goodness-of-fit test is always a one-tail test with the rejection region in the upper tail.
A)True
B)False
Q5) Explain why,in performing a goodness-of-fit test,it is sometimes necessary to combine categories.
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Chapter 14: Introduction to Linear Regression and Correlation Analysis
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Sample Questions
Q1) A bank is interested in determining whether its customers' checking balances are linearly related to their savings balances.A sample of n = 20 customers was selected and the correlation was calculated to be +0.40.If the bank is interested in testing to see whether there is a significant linear relationship between the two variables using a significance level of 0.05,the value of the test statistic is approximately t = 1.8516.
A)True
B)False
Q2) Which of the following is NOT an assumption for the simple linear regression model?
A)The individual error terms are statistically independent.
B)The distribution of the error terms will be skewed left or right depending on the shape of the dependent variable.
C)The error terms have equal variances for all values of the independent variable.
D)The mean of the dependent variable value for all levels of x can be connected by a straight line.
Q3) Explain what is meant by the term least squares regression model.
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Chapter 15: Multiple Regression Analysis and Model Building
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Sample Questions
Q1) It is possible for the standard error of the estimate to actually increase if variables are added to the model that do not aid in explaining the variation in the dependent variable.
A)True
B)False
Q2) In a multiple regression model,the adjusted R-square value measures the explained variation in the dependent variable after taking into account the relationship between the sample size and the number of independent variables in the model.
A)True
B)False
Q3) To check out whether the regression assumption involving normality of the error terms is valid,it is appropriate to construct a normal probability plot.If this plot forms a straight line from the lower left-hand corner diagonally up to the upper right-hand corner,the error terms may be assumed to be normally distributed.
A)True
B)False
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Chapter 16: Analyzing and Forecasting Time-Series Data
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Sample Questions
Q1) The most useful tool to identify the trend component of a time series is
A)moving averages.
B)exponential smoothing.
C)regression analysis.
D)the MAD approach.
Q2) If time-series data exhibit a seasonal pattern,which of the following approaches could be used to compute season indexes?
A)The exponential smoothing technique
B)The multiplicative model
C)The Pearson product-moment approach
D)None of the above.
Q3) In establishing a single exponential smoothing forecasting model,a starting point for the forecast value for period 1 is required.One method for arriving at this starting point is to use the first data point as the forecast for that period.If we do that,then the first data point should be ignored when computing measures of forecast error.
A)True
B)False
Q4) In analyzing a forecast model,what is the main advantage of using the MAD instead of the MSE?
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Chapter 17: Introduction to Nonparametric Statistics
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Sample Questions
Q1) The critical value for a one-tailed Mann-Whitney U test with sample sizes of n<sub>1</sub> = 10 and n<sub>2</sub> = 10 is 23 for a 0.05 level of significance.
A)True
B)False
Q2) If a two-tailed Wilcoxon Matched-Pairs Signed Rank test is conducted for a sample of n = 8 and an alpha level equal to .05,the critical value is:
A)4.
B)1.96.
C)30.
D)2
Q3) The Mann-Whitney U test is a nonparametric test that is used to test whether two related populations have the same median.
A)True
B)False
Q4) The procedure of the Wilcoxon signed rank test is the same for either small or large sample sizes.
A)True
B)False
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Chapter 18: Introduction to Quality and Statistical Process Control
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Sample Questions
Q1) By the early 1950s,Japanese products began to exceed those of the U.S.in terms of quality.
A)True
B)False
Q2) Total quality management and the Pareto Principle are actually two terms that mean the same thing.
A)True
B)False
Q3) Deming and Juran worked together to create a quality improvement concept called Kaizen.
A)True
B)False
Q4) Total Quality Management is a business philosophy invented and fine-tuned by the Japanese in the years following World War II.
A)True
B)False
Q5) A process flow chart is used to quantify a problem situation.
A)True
B)False
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Chapter 19: Introduction to Decision Analysis
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Sample Questions
Q1) Assume that a decision maker is facing a decision under uncertainty and has calculated the expected value of perfect information is 75.If the decision maker could obtain perfect information at a cost of 85,then he/she should purchase the perfect information.
A)True
B)False
Q2) In conducting sensitivity analysis for a probability in a decision tree,where there are only two alternatives,you solve to find the probability where the expected values of the two alternatives are equal to one another.
A)True
B)False
Q3) Which of the following is true about opportunity loss?
A)There is always at least one value of 0 for each alternative.
B)There is always at least one value of 0 for each state of nature.
C)Values can sometimes be negative.
D)Decision makers prefer the largest value possible.
Q4) In a decision tree the sum of all probabilities in the tree must be equal to 1.0.
A)True B)False
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