Question 1

The break-even point is an example of a

Accepted Answer

A)  postoptimality model. 
B)  quantitative analysis model. 
C)  schematic model. 
D)  sensitivity analysis model. 
E)  None of the above 
A)  postoptimality model. 
B)  quantitative analysis model. 
C)  schematic model. 
D)  sensitivity analysis model. 
E)  None of the above B

Question 2

Trying various approaches and picking the one that results in the best decision is called

Accepted Answer

A)  the trial-and-error method. 
B)  incomplete enumeration. 
C)  complete enumeration. 
D)  algorithmic approximation. 
E)  sensitivity analysis. 
A)  the trial-and-error method. 
B)  incomplete enumeration. 
C)  complete enumeration. 
D)  algorithmic approximation. 
E)  sensitivity analysis. A

Question 3

A picture, drawing, or chart of reality is a ________ model

Accepted Answer

schematic

Question 4

Evaluating all possible values of a variable in a model is called

Accepted Answer

A)  trial and error. 
B)  complete enumeration. 
C)  an algorithm. 
D)  variablization. 
E)  None of the above 
A)  trial and error. 
B)  complete enumeration. 
C)  an algorithm. 
D)  variablization. 
E)  None of the above

Question 5

A set of logical and mathematical operations performed in a specific sequence is called a(n)

Accepted Answer

A)  complete enumeration. 
B)  diagnostic analysis. 
C)  algorithm. 
D)  objective. 
E)  None of the above 
A)  complete enumeration. 
B)  diagnostic analysis. 
C)  algorithm. 
D)  objective. 
E)  None of the above

Question 6

A(n) ________ model is one that is accurate and correctly represents the problem or system under investigation.

Accepted Answer

A)  robust 
B)  valid 
C)  sensitive 
D)  optimal 
E)  feasible 
A)  robust 
B)  valid 
C)  sensitive 
D)  optimal 
E)  feasible

Question 7

A(n) ________ is a representation of reality or a real-life situation.

Accepted Answer

A)  objective 
B)  model 
C)  analysis 
D)  algorithm 
E)  None of the above 
A)  objective 
B)  model 
C)  analysis 
D)  algorithm 
E)  None of the above

Question 8

Model variables can be controllable or uncontrollable.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following terms is interchangeable with quantitative analysis?

Accepted Answer

A)  management science 
B)  economics 
C)  financial analysis 
D)  statistics 
E)  None of the above 
A)  management science 
B)  economics 
C)  financial analysis 
D)  statistics 
E)  None of the above

Question 10

As one attempts to develop a model, which of the following problems might she encounter?

Accepted Answer

A)  The problem may not fit a textbook approach. 
B)  There will be no data available to test the model. 
C)  Not everyone will understand the problem in the same way. 
D)  All of the above 
E)  None of the above 
A)  The problem may not fit a textbook approach. 
B)  There will be no data available to test the model. 
C)  Not everyone will understand the problem in the same way. 
D)  All of the above 
E)  None of the above

Question 11

A series of steps or procedures that are repeated is known as an algorithm.

Accepted Answer

A) True 
 B)False

Question 12

Who is credited with pioneering the principles of the scientific approach to management?

Accepted Answer

A)  Adam Smith 
B)  Henri Fayol 
C)  John R. Locke 
D)  Frederick W. Taylor 
E)  Charles Babbage 
A)  Adam Smith 
B)  Henri Fayol 
C)  John R. Locke 
D)  Frederick W. Taylor 
E)  Charles Babbage

Question 13

A profit equation is an example of a schematic model.

Accepted Answer

A) True 
 B)False

Question 14

Postoptimality analysis is most closely associated with

Accepted Answer

A)  collecting input data. 
B)  developing a model. 
C)  sensitivity analysis. 
D)  writing a computer program. 
E)  None of the above 
A)  collecting input data. 
B)  developing a model. 
C)  sensitivity analysis. 
D)  writing a computer program. 
E)  None of the above

Question 15

Trying various approaches and picking the one resulting in the best decision is called incomplete enumeration.

Accepted Answer

A) True 
 B)False

Question 16

The ability to examine the variability of a solution due to changes in the formulation of a problem is an important part of the analysis of the results. This type of analysis is called ________ analysis.

Accepted Answer

A)  sensitivity 
B)  implicit 
C)  normal 
D)  scale 
E)  objective 
A)  sensitivity 
B)  implicit 
C)  normal 
D)  scale 
E)  objective

Question 17

A measurable quantity that is inherent in the problem is called a(n)

Accepted Answer

A)  decision variable. 
B)  uncontrollable variable. 
C)  algorithm. 
D)  parameter. 
E)  enumeration variable. 
A)  decision variable. 
B)  uncontrollable variable. 
C)  algorithm. 
D)  parameter. 
E)  enumeration variable.

Question 18

Models that do not involve risk or chance are

Accepted Answer

A)  probabilistic models. 
B)  postoptimality models. 
C)  deterministic models. 
D)  MIS models. 
E)  None of the above 
A)  probabilistic models. 
B)  postoptimality models. 
C)  deterministic models. 
D)  MIS models. 
E)  None of the above

Question 19

What is the formula for the break-even point of a simple profit model?

Accepted Answer

A)  Fixed Cost / Variable Cost Per Unit 
B)  (Selling Price Per Unit -Variable Cost Per Unit) / Fixed Cost 
C)  Fixed Cost / (Selling Price Per Unit -Variable Cost Per Unit) 
D)  Fixed Cost / (Variable Cost Per Unit - Selling Price Per Unit) 
E)  Selling Price Per Unit - (Fixed Cost / Variable Cost Per Unit) 
A)  Fixed Cost / Variable Cost Per Unit 
B)  (Selling Price Per Unit -Variable Cost Per Unit) / Fixed Cost 
C)  Fixed Cost / (Selling Price Per Unit -Variable Cost Per Unit) 
D)  Fixed Cost / (Variable Cost Per Unit - Selling Price Per Unit) 
E)  Selling Price Per Unit - (Fixed Cost / Variable Cost Per Unit)

Question 20

A model is a representation of a situation.

Accepted Answer

A) True 
 B)False

The break-even point is an example of a

Trying various approaches and picking the one that results in the best decision is called

A picture, drawing, or chart of reality is a ________ model

Evaluating all possible values of a variable in a model is called

A set of logical and mathematical operations performed in a specific sequence is called a(n)

A(n) ________ model is one that is accurate and correctly represents the problem or system under investigation.

A(n) ________ is a representation of reality or a real-life situation.

Model variables can be controllable or uncontrollable.

Which of the following terms is interchangeable with quantitative analysis?

As one attempts to develop a model, which of the following problems might she encounter?

A series of steps or procedures that are repeated is known as an algorithm.

Who is credited with pioneering the principles of the scientific approach to management?

A profit equation is an example of a schematic model.

Postoptimality analysis is most closely associated with

Trying various approaches and picking the one resulting in the best decision is called incomplete enumeration.

The ability to examine the variability of a solution due to changes in the formulation of a problem is an important part of the analysis of the results. This type of analysis is called ________ analysis.

A measurable quantity that is inherent in the problem is called a(n)

Models that do not involve risk or chance are

What is the formula for the break-even point of a simple profit model?

A model is a representation of a situation.

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation and Assignment Models

Integer Programming, Goal Programming, and Nonlinear Programming

Network Models

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Filters

Exam 1: Introduction to Quantitative Analysis

The break-even point is an example of a

Trying various approaches and picking the one that results in the best decision is called

A picture, drawing, or chart of reality is a ________ model

Evaluating all possible values of a variable in a model is called

A set of logical and mathematical operations performed in a specific sequence is called a(n)

A(n) ________ model is one that is accurate and correctly represents the problem or system under investigation.

A(n) ________ is a representation of reality or a real-life situation.

Model variables can be controllable or uncontrollable.

Which of the following terms is interchangeable with quantitative analysis?

As one attempts to develop a model, which of the following problems might she encounter?

A series of steps or procedures that are repeated is known as an algorithm.

Who is credited with pioneering the principles of the scientific approach to management?

A profit equation is an example of a schematic model.

Postoptimality analysis is most closely associated with

Trying various approaches and picking the one resulting in the best decision is called incomplete enumeration.

The ability to examine the variability of a solution due to changes in the formulation of a problem is an important part of the analysis of the results. This type of analysis is called ________ analysis.

A measurable quantity that is inherent in the problem is called a(n)

Models that do not involve risk or chance are

What is the formula for the break-even point of a simple profit model?

A model is a representation of a situation.

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation and Assignment Models

Integer Programming, Goal Programming, and Nonlinear Programming

Network Models

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Filters