What is a disadvantage of the quantitative approach according to the provided information?
a) Lack of problem-solving methods
b) Lack of decision-making
c) Lack of mathematical formulas
d) Lack of computer technology
Explanation: While it offers methods for analysis and problem-solving, it doesn't make decisions. Human decision-making is still required.
Which technique is associated with analyzing the relationship between two variables in the quantitative approach?
a) Break-Even Analysis
b) Time Series Analysis
c) Correlation/Regression Analysis
d) Waiting Line or Queuing Theory
In what decade was the quantitative approach to management developed?
a) 1930s
b) 1950s
c) 1970s
d) 1990s
Explanation: The quantitative approach was developed around 1950.
Which technique is associated with optimizing resource allocation in the quantitative approach?
a) Ratio Analysis
b) Linear Programming
c) Cash-Benefit Analysis
d) Network Analysis
What is a limitation of the quantitative approach?
a) Lack of problem-solving
b) Lack of mathematical formulas
c) Doesn't make decisions
d) Doesn't use computer technology
Explanation: While it provides analysis and problem-solving methods, decisions must still be made by managers based on the quantitative data and insights.
Who is often regarded as the father of system theory and significantly influenced the system approach?
a) Robert L. Kahn
b) Richard A. Johnson
c) Herbert A. Simon
d) Daniel Katz
