Question 1

Decision criteria

Accepted Answer

A) are the choices faced by the decision maker. 
B) are the problems faced by the decision maker. 
C) are the ways to evaluate the choices faced by the decision maker. 
D) must be unique for a problem. 
A) are the choices faced by the decision maker. 
B) are the problems faced by the decision maker. 
C) are the ways to evaluate the choices faced by the decision maker. 
D) must be unique for a problem. C

Question 2

A model that uses a system of symbols to represent a problem is called

Accepted Answer

A) mathematical. 
B) iconic. 
C) analog. 
D) constrained. 
A) mathematical. 
B) iconic. 
C) analog. 
D) constrained. A

Question 3

The first step in problem solving is

Accepted Answer

A) determination of the correct analytical solution procedure. 
B) definition of decision variables. 
C) the identification of a difference between the actual and desired state of affairs. 
D) implementation. 
A) determination of the correct analytical solution procedure. 
B) definition of decision variables. 
C) the identification of a difference between the actual and desired state of affairs. 
D) implementation. C

Question 4

The volume that results in total revenue being equal to total cost is the

Accepted Answer

A) break-even point. 
B) marginal volume. 
C) marginal cost. 
D) profit mix. 
A) break-even point. 
B) marginal volume. 
C) marginal cost. 
D) profit mix.

Question 5

Uncontrollable inputs are the decision variables for a model.

Accepted Answer

A) True 
 B)False

Question 6

Identification and definition of a problem

Accepted Answer

A) cannot be done until alternatives are proposed. 
B) is the first step of decision making. 
C) is the final step of problem solving. 
D) requires consideration of multiple criteria. 
A) cannot be done until alternatives are proposed. 
B) is the first step of decision making. 
C) is the final step of problem solving. 
D) requires consideration of multiple criteria.

Question 7

Problem definition

Accepted Answer

A) includes specific objectives and operating constraints. 
B) must occur prior to the quantitative analysis process. 
C) must involve the analyst and the user of the results. 
D) each of the above is true. 
A) includes specific objectives and operating constraints. 
B) must occur prior to the quantitative analysis process. 
C) must involve the analyst and the user of the results. 
D) each of the above is true.

Question 8

The most successful quantitative analysis will separate the analyst from the managerial team until after the problem is fully structured.

Accepted Answer

A) True 
 B)False

Question 9

Decision alternatives

Accepted Answer

A) should be identified before decision criteria are established. 
B) are limited to quantitative solutions 
C) are evaluated as a part of the problem definition stage. 
D) are best generated by brain-storming. 
A) should be identified before decision criteria are established. 
B) are limited to quantitative solutions 
C) are evaluated as a part of the problem definition stage. 
D) are best generated by brain-storming.

Question 10

To find the choice that provides the highest profit and the fewest employees, apply a single-criterion decision process.

Accepted Answer

A) True 
 B)False

Question 11

The volume that results in marginal revenue equaling marginal cost is called the break-even point.A8

Accepted Answer

A) True 
 B)False

Question 12

The decision making process includes implementation and evaluation of the decision.

Accepted Answer

A) True 
 B)False

Question 13

The terms 'stochastic' and 'deterministic' have the same meaning in quantitative analysis.

Accepted Answer

A) True 
 B)False

Question 14

The most critical component in determining the success or failure of any quantitative approach to decision making is problem definition.

Accepted Answer

A) True 
 B)False

Question 15

The field of management science

Accepted Answer

A) concentrates on the use of quantitative methods to assist in decision making. 
B) approaches decision making rationally, with techniques based on the scientific method. 
C) is another name for decision science and for operations research. 
D) each of the above is true. 
A) concentrates on the use of quantitative methods to assist in decision making. 
B) approaches decision making rationally, with techniques based on the scientific method. 
C) is another name for decision science and for operations research. 
D) each of the above is true.

Question 16

In a multicriteria decision problem

Accepted Answer

A) it is impossible to select a single decision alternative. 
B) the decision maker must evaluate each alternative with respect to each criterion. 
C) successive decisions must be made over time. 
D) each of the above is true. 
A) it is impossible to select a single decision alternative. 
B) the decision maker must evaluate each alternative with respect to each criterion. 
C) successive decisions must be made over time. 
D) each of the above is true.

Question 17

A physical model that does not have the same physical appearance as the object being modeled is

Accepted Answer

A) an analog model. 
B) an iconic model. 
C) a mathematical model. 
D) a qualitative model. 
A) an analog model. 
B) an iconic model. 
C) a mathematical model. 
D) a qualitative model.

Question 18

The process of decision making is more limited than that of problem solving.

Accepted Answer

A) True 
 B)False

Question 19

Management science and operations research both involve

Accepted Answer

A) qualitative managerial skills. 
B) quantitative approaches to decision making. 
C) operational management skills. 
D) scientific research as opposed to applications. 
A) qualitative managerial skills. 
B) quantitative approaches to decision making. 
C) operational management skills. 
D) scientific research as opposed to applications.

Question 20

A company seeks to maximize profit subject to limited availability of man-hours.Man-hours is a controllable input.

Accepted Answer

A) True 
 B)False

Exam 1: Introduction

Decision criteria

A model that uses a system of symbols to represent a problem is called

The first step in problem solving is

The volume that results in total revenue being equal to total cost is the

Uncontrollable inputs are the decision variables for a model.

Identification and definition of a problem

Problem definition

The most successful quantitative analysis will separate the analyst from the managerial team until after the problem is fully structured.

Decision alternatives

To find the choice that provides the highest profit and the fewest employees, apply a single-criterion decision process.

The volume that results in marginal revenue equaling marginal cost is called the break-even point.A8

The decision making process includes implementation and evaluation of the decision.

The terms 'stochastic' and 'deterministic' have the same meaning in quantitative analysis.

The most critical component in determining the success or failure of any quantitative approach to decision making is problem definition.

The field of management science

In a multicriteria decision problem

A physical model that does not have the same physical appearance as the object being modeled is

The process of decision making is more limited than that of problem solving.

Management science and operations research both involve

A company seeks to maximize profit subject to limited availability of man-hours.Man-hours is a controllable input.

Introduction to Linear Programming

LP Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications

Advanced Linear Programming Applications

Distribution and Network Problems

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Forecasting

Markov Processes

LP: Simplex Method

Simplex-Based Sensitivity Analysis and Duality

Solution Procedures for Transportation and Assignment Problems

Minimal Spanning Tree

Dynamic Programming

Filters