Question 1

Which executive reaction to your management science solution would suggest the model is invalid?

Accepted Answer

A) "We never tried this before." 
B) "This doesn't make sense to me." 
C) "We may not have as much money for this as we thought." 
D) "We're profitable and have always done things our way." 
A) "We never tried this before." 
B) "This doesn't make sense to me." 
C) "We may not have as much money for this as we thought." 
D) "We're profitable and have always done things our way." B

Question 2

Constrained mathematical models do not contain:

Accepted Answer

A) functional constraints. 
B) non-negativity requirements. 
C) management preferences. 
D) boundary restrictions. 
A) functional constraints. 
B) non-negativity requirements. 
C) management preferences. 
D) boundary restrictions. C

Question 3

Which name is most commonly associated with Game Theory?

Accepted Answer

A) Andrey A.Markov 
B) E.K.Erlang 
C) Jon von Neuman 
D) N.Karmarkar 
A) Andrey A.Markov 
B) E.K.Erlang 
C) Jon von Neuman 
D) N.Karmarkar C

Question 4

Management science does not:

Accepted Answer

A) use the scientific approach 
B) provide a tool to aid in executive decision making. 
C) involve mathematical modeling 
D) guarantee improvement 
A) use the scientific approach 
B) provide a tool to aid in executive decision making. 
C) involve mathematical modeling 
D) guarantee improvement

Question 5

What is the purpose of model shells in the management science process?

Accepted Answer

(Model shells define the model before ac

Question 6

Frederick Taylor applied the scientific approach to improving operations in a production setting more than 100 years ago.

Accepted Answer

A) True 
 B)False

Question 7

Why should the management science analyst anticipate resistance from operating personnel responsible for implementation of the study's results, most especially when the study's recommendations are substantially different from current practices? What should be done to eliminate or reduce such resistance?

Accepted Answer

(When the study's recommendations differ

Question 8

A "model shell" contains:

Accepted Answer

A) actual data. 
B) generic symbols. 
C) both actual data and generic symbols. 
D) neither actual data nor generic symbols. 
A) actual data. 
B) generic symbols. 
C) both actual data and generic symbols. 
D) neither actual data nor generic symbols.

Question 9

The Deepsea Sponge Company wishes to maximize profit.Real sponges cost C1 dollars and sell for P1.Synthetic sponges cost C2 and sell for P2.Deepsea wants at least M% of their sales to be real sponges.Create a mathematical model shell (objective function and constraints).

Accepted Answer

(MAX (P₁ - C₁)X

Question 10

Boragon Middle School wishes to minimize the cost of audio-visual equipment.The school has R classrooms, each of which must have at least one piece of AV equipment.The school as a whole must have at least one TV/VCR combination, one computer projector, one laptop, and one overhead slide projector.Create a model shell.

Accepted Answer

(MIN VX₁ + DX₂ + C

Question 11

How should a management science analyst proceed when it is obvious that the "front line" people and their immediate management do not agree as to the definition of the problem to be addressed?

Accepted Answer

(Proceed with diplomacy! The "front line

Question 12

Which Excel data analysis tool returns the p-value for the F-test?

Accepted Answer

A) Descriptive Statistics. 
B) Regression. 
C) Exponential Smoothing. 
D) ANOVA. 
A) Descriptive Statistics. 
B) Regression. 
C) Exponential Smoothing. 
D) ANOVA.

Question 13

Name one thing you should do if the results of your model validation are unacceptable to management.

Accepted Answer

(Check assumptions.
Check data

Question 14

Both management and operating personnel should be involved throughout the management science process, even before the implementation phase.

Accepted Answer

A) True 
 B)False

Question 15

In a business organization, the "80/20" rule relates to:

Accepted Answer

A) work accomplished vs.people who perform it. 
B) the average input/output ratio of production processes. 
C) the value of a "good" problem solution vs.its cost. 
D) "key" products vs.product line "fillers." 
A) work accomplished vs.people who perform it. 
B) the average input/output ratio of production processes. 
C) the value of a "good" problem solution vs.its cost. 
D) "key" products vs.product line "fillers."

Question 16

Heuristic solution procedures always yield an optimal solution if one exists.

Accepted Answer

A) True 
 B)False

Question 17

Decision variable definition need not include:

Accepted Answer

A) specific units of measure. 
B) the time frame involved. 
C) variable names. 
D) integer requirements, if any. 
A) specific units of measure. 
B) the time frame involved. 
C) variable names. 
D) integer requirements, if any.

Question 18

The linear constraints in a management science model need not be in the same units of measure.

Accepted Answer

A) True 
 B)False

Question 19

Sensitivity analysis means "what if".

Accepted Answer

A) True 
 B)False

Question 20

The Dennis Advertising Company wants you to model their business.Create a model shell for the following.For each client, Dennis estimates per person costs for each type of media:

Accepted Answer

D Direct Mail
P Newspaper Ad
M Movies
T

Which executive reaction to your management science solution would suggest the model is invalid?

Constrained mathematical models do not contain:

Which name is most commonly associated with Game Theory?

Management science does not:

What is the purpose of model shells in the management science process?

Frederick Taylor applied the scientific approach to improving operations in a production setting more than 100 years ago.

A "model shell" contains:

The Deepsea Sponge Company wishes to maximize profit.Real sponges cost C₁ dollars and sell for P₁.Synthetic sponges cost C₂ and sell for P₂.Deepsea wants at least M% of their sales to be real sponges.Create a mathematical model shell (objective function and constraints).

How should a management science analyst proceed when it is obvious that the "front line" people and their immediate management do not agree as to the definition of the problem to be addressed?

Which Excel data analysis tool returns the p-value for the F-test?

Name one thing you should do if the results of your model validation are unacceptable to management.

Both management and operating personnel should be involved throughout the management science process, even before the implementation phase.

In a business organization, the "80/20" rule relates to:

Heuristic solution procedures always yield an optimal solution if one exists.

Decision variable definition need not include:

The linear constraints in a management science model need not be in the same units of measure.

Sensitivity analysis means "what if".

The Dennis Advertising Company wants you to model their business.Create a model shell for the following.For each client, Dennis estimates per person costs for each type of media:

Introduction to Management Science Models

Applications of Linear and Integer Programming Models

Network Models

Project Scheduling Models

Decision Models

Forecasting

Inventory Models

Queuing Models

Simulation Models

Quality Management Models

Markov Process Models

Nonlinear Models:dynamic, Goal, and Nonlinear Programming

Filters

Exam 1: Introduction to Management Science Models

Which executive reaction to your management science solution would suggest the model is invalid?

Constrained mathematical models do not contain:

Which name is most commonly associated with Game Theory?

Management science does not:

What is the purpose of model shells in the management science process?

Frederick Taylor applied the scientific approach to improving operations in a production setting more than 100 years ago.

A "model shell" contains:

The Deepsea Sponge Company wishes to maximize profit.Real sponges cost C1 dollars and sell for P1.Synthetic sponges cost C2 and sell for P2.Deepsea wants at least M% of their sales to be real sponges.Create a mathematical model shell (objective function and constraints).

How should a management science analyst proceed when it is obvious that the "front line" people and their immediate management do not agree as to the definition of the problem to be addressed?

Which Excel data analysis tool returns the p-value for the F-test?

Name one thing you should do if the results of your model validation are unacceptable to management.

Both management and operating personnel should be involved throughout the management science process, even before the implementation phase.

In a business organization, the "80/20" rule relates to:

Heuristic solution procedures always yield an optimal solution if one exists.

Decision variable definition need not include:

The linear constraints in a management science model need not be in the same units of measure.

Sensitivity analysis means "what if".

The Dennis Advertising Company wants you to model their business.Create a model shell for the following.For each client, Dennis estimates per person costs for each type of media:

Introduction to Management Science Models

Applications of Linear and Integer Programming Models

Network Models

Project Scheduling Models

Decision Models

Forecasting

Inventory Models

Queuing Models

Simulation Models

Quality Management Models

Markov Process Models

Nonlinear Models:dynamic, Goal, and Nonlinear Programming

Filters

The Deepsea Sponge Company wishes to maximize profit.Real sponges cost C₁ dollars and sell for P₁.Synthetic sponges cost C₂ and sell for P₂.Deepsea wants at least M% of their sales to be real sponges.Create a mathematical model shell (objective function and constraints).