Question 1

In defining decision variables, it is important to specify the time frame involved as well as the units of measure.

Accepted Answer

A) True 
 B)False

Question 2

Profit maximization will yield the same result as cost minimization when:

Accepted Answer

A) costs and revenues are both variable. 
B) costs are constant. 
C) per unit profits are constant. 
D) revenues are constant. 
A) costs and revenues are both variable. 
B) costs are constant. 
C) per unit profits are constant. 
D) revenues are constant.

Question 3

Constraints in the mathematical model do not include:

Accepted Answer

A) amount of resources (decision variables) required. 
B) relational operators. 
C) availability of resources. 
D) shadow prices. 
A) amount of resources (decision variables) required. 
B) relational operators. 
C) availability of resources. 
D) shadow prices.

Question 4

Constrained mathematical models are sometimes used to find merely "good" or "better" solutions, not always "optimal" ones.

Accepted Answer

A) True 
 B)False

Question 5

What does a dollar sign ("$") in an Excel address signify?

Accepted Answer

(An absolu

Question 6

Other than for the military, the application of management science is inappropriate for non-profit organizations.

Accepted Answer

A) True 
 B)False

Question 7

Dr.Zuck wants to study the effectiveness of a particular type of back brace on patients suffering from scoliosis (curvature of the spine).He wants to locate and test the largest possible number of patients.He has obtained a grant for one million dollars and estimates the cost of locating and recruiting a patient to be $5,000.Half of the patients drop out of the study.There are two types of patients.Type A must constitute at least 50% of the study.

Accepted Answer

Create a mathematical model shell (objec

Question 8

At what state in the management science process should the operating personnel, who are responsible for solution implementation, first be consulted?

Accepted Answer

A) Problem definition. 
B) Mathematical modeling. 
C) Solution of the model. 
D) Communication/marketing of results. 
A) Problem definition. 
B) Mathematical modeling. 
C) Solution of the model. 
D) Communication/marketing of results.

Question 9

What are three time and cost considerations for data gathering?

Accepted Answer

(Collecting, organizing and so

Question 10

In management science problems, algorithms are rarely used since they tend to be very complex and costly.

Accepted Answer

A) True 
 B)False

In defining decision variables, it is important to specify the time frame involved as well as the units of measure.

Profit maximization will yield the same result as cost minimization when:

Constraints in the mathematical model do not include:

Constrained mathematical models are sometimes used to find merely "good" or "better" solutions, not always "optimal" ones.

What does a dollar sign ("$") in an Excel address signify?

Other than for the military, the application of management science is inappropriate for non-profit organizations.

At what state in the management science process should the operating personnel, who are responsible for solution implementation, first be consulted?

What are three time and cost considerations for data gathering?

In management science problems, algorithms are rarely used since they tend to be very complex and costly.

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

In defining decision variables, it is important to specify the time frame involved as well as the units of measure.

Profit maximization will yield the same result as cost minimization when:

Constraints in the mathematical model do not include:

Constrained mathematical models are sometimes used to find merely "good" or "better" solutions, not always "optimal" ones.

What does a dollar sign ("$") in an Excel address signify?

Other than for the military, the application of management science is inappropriate for non-profit organizations.

At what state in the management science process should the operating personnel, who are responsible for solution implementation, first be consulted?

What are three time and cost considerations for data gathering?

In management science problems, algorithms are rarely used since they tend to be very complex and costly.

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