Exam 9: Model-Based Decision Making: Optimization and Multi-Criteria Systems

When using Excel's Solver, we can have multiple constraints and multiple objective cells.

In the U.S. HUD case study, the use of AHP brought standards and coherence to project selection, resulting in a 10% decrease in project requests from 1999 levels.

________ modeling uses rules to determine solutions that are good enough.

Which of the following statements about the end-of-chapter CARE International case study is true?

In decision-making, fixed factors that affect the result variables but are not manipulated by decision maker are called ________ variables.

Which of the following statements about expected utility is true?

List four things sensitivity analyses are used for.

Sensitivity analysis is important in management support systems for all of the following reasons EXCEPT

Which of the following statements about the analytic hierarchy process (AHP) is true?

Utility ________ is a modeling method for handling multiple goals.

In mathematical programming, of available solutions, the ________ solution is the best; i.e., the degree of goal attainment associated with it is the highest.

Using expected value (EV) with decision trees is totally appropriate for situations where one outcome could lead to an immense loss for the company.

Linear programming belongs to a family of tools called

How are pairwise comparisons used in the analytic hierarchy process (AHP) to select an alternative?

Today, it is critical for companies to consider

In the American Airlines case study, the modeling used for contract bidding could best be described as decision making under ________.

If linear programming can be successfully applied a problem, the output is usually optimal.

Spreadsheets are the second most popular tool for modeling.

Environmental scanning is important for all of the following reasons EXCEPT

The analytic hierarchy process can be used to great effect to solve multi-________ problems.