Evaluating Solutions to Business Problems Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. The analysts at Magic Marketing are meeting to discuss ideas for a new campaign for an important client. The facilitator leading the discussion advises the analysts not to criticize any new ideas at this point. Which group decision-making technique are they applying?

Question 2 2. The marketing manager at Speedy Cellular has just sent her analysts a third survey about advertising ideas for a new cellphone. Which group decision technique is she applying?

Question 3 3. A company seeking ideas for new products wants to generate as many ideas as possible from a group. Which group decision technique will they MOST likely use?

Question 4 4. A _____ is simpler but often less accurate than a _____.

Question 5 5. A recession, shortage of materials necessary to manufacture products, and new government regulations are all examples of things that can affect a business that the business cannot control. They are also known as:

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Question 6 6. The possible choices in a decision are called:

Question 7 7. Which of the following might be caused by too much diversity when making a group decision?

Question 8 8. What is a pitfall of making group decisions?

Question 9 9. Why is the evaluation of the decision part of the rational model?

Question 10 10.

Determine if this argument is valid and why it is or is not valid.

Research shows a 60% spike in customer complaints after the company moved the position of the handlebars on their bicycles. Therefore, we can determine that customers don't like the new handlebar placement.

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Question 11 11.

Is this argument valid and which type of reasoning does it use?

Most customers take vacations over the summer.

Customers use more roaming minutes on vacation.

Therefore, the company will see an increase in roaming charges each summer.

Question 12 12. When a company saw a 25% increase in customer cancellations after changing their product, they were able to conclude that customers did not like the recent changes. This is an example of which type of reasoning?

Question 13 13. One of the most important questions to answer when making business decisions is:

Question 14 14. The term _____ describes the data that is collected and analyzed to produce high-quality information that executives can use to make sound business decisions.

Question 15 15. XYZ Pest Control is about to make a business decision based only on information pulled from their own data server. Which step in the data utilization process has the company skipped?

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Question 16 16. What is a trade-off?

Question 17 17. Which of the following can a business use to help it make the best decision?

Question 18 18. In making decisions, businesses need to analyze their list of goals and decide which ones are _____ and which ones are _____.

Question 19 19. _____ is the ability to utilize many minds to develop a multitude of ideas, leading to a high quality solution.

Question 20 20. How might it be advantageous for a company to bring together a group of people who each have a unique perspective regarding an issue the company faces?

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Question 21 21. Which of the following best describes group decision making?

Question 22 22. What action should one take for a task that is urgent but lacks major importance and why?

Question 23 23. Which quadrant of the Eisenhower Matrix would a task like watching a webinar for work fall into?

Question 24 24. The ''Do'' quadrant of the Eisenhower matrix is designed for these types of tasks:

Question 25 25. In project management, a simulation tool is designed to _____

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Question 26 26. Which is NOT one of the four phases of a simulation process?

Question 27 27. What additional element does a special purpose simulator typically require?

Question 28 28. The top executives at XYZ Corporation are deciding how much to offer the owners of a smaller company to buy them out. Each executive writes down an amount on a piece of paper, and, after a brief discussion, they make the final decision by secret ballot. Which group decision making technique are they applying?

Question 29 29. Which of the following is NOT an example of a payoff?

Question 30 30. Which of the following is NOT a step in the rational model?

Evaluating Solutions to Business Problems Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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