Quant Exam 1 chapter 1

An input (such as variable cost per unit or fixed cost) for a model is an example of a. a decision variable. b . a parameter. c. an algorithm d. a stochastic variable.

B

Frederick Winslow Taylor a. was a military researcher during World War II. b. pioneered the principles of scientific management. c. developed the use of the algorithm for QA. d. all of the above .

B

1. In analyzing a problem , you should normally study: a . the qualitative aspects b . the quantitative aspects c. both a and b d .neither a nor b.

C

The point at which the total revenue equals total cost ( meaning zero profit) is called the a. zero- profit solution . b. optimal - profit solution . c. break -even point. d. fixed-cost solution.

C

Quantitative analysis is a. a logical approach to decision making. b. a rational approach to decision making. c. a scientific approach to decision making. d. all of the above .

D