MS & QA Quiz

Quantitative techniques in business primarily rely on:

• Opinions and judgments

• Numerical data and statistical methods

• Creative brainstorming sessions

Which of the following is NOT a common quantitative analysis technique?

• Regression analysis: Used to identify relationships between variables.

• Hypothesis testing: A statistical method to evaluate if a claim about a population is true.

• Focus groups: Used to gather in-depth qualitative data through group discussions.

The steps of the Management Science process are :

• observation, problem definition, model construction, model solution, implementation

• problem definition, model construction, observation, model solution, implementation

• model construction, problem definition, observation, model solution, implementation

Management Science involves the philosophy of approaching a problem in a subjective manner.

• True

• False

Management science heavily relies on quantitative analysis techniques because:

• It allows for more creative solutions to complex problems.

• It provides a data-driven approach to decision making, leading to more optimal solutions.

• It helps build strong relationships with stakeholders.

Which of the following is NOT a typical application of quantitative analysis in business?

• Forecasting future sales trends based on historical data.

• Evaluating the effectiveness of a marketing campaign through website traffic metrics.

• Understanding customer preferences through open-ended surveys.

Management science often utilizes quantitative analysis techniques to achieve which of the following?

• Motivate and inspire employees.

• Identify the most efficient allocation of resources for a project.

• Improve company culture and morale.

The Management Science process does NOT include:

• problem definition

• feedback

• subjective preference

Which step of the Management Science process that put solution into action?

• Implementation

• Observation

• Feedback

In TACO BELL Case Study, which among the 3 best attributes they have focused on Management Science process application?

• high quality food

• clean environment

• speed of good service