Exam 4: Modeling and Analysis

________ distributions are situations with unlimited numbers of possible events that follow density functions,such as the normal distribution.

A(n)________ is a step-by-step search process for obtaining an optimal solution

________ analysis calculates the values of the inputs necessary to achieve a desired level of an output.

Which of the following are factors that affect the result variables,but are not under the control of the decision maker?

Heuristics techniques are used mainly for solving structured problems,usually of a tactical or operational nature,in areas such as resource allocation or inventory management.

Customer relationship management systems and revenue management systems rely heavily on forecasting techniques,which are typically described as ________.

________ is the relational approach to the design and development of a model base management system.

In decision making under ________,the decision maker considers situations in which several outcomes are possible for each course of action.The decision maker does not know,or cannot estimate,the probability of occurrence of the possible outcomes.

Which of the following are the informal,judgmental knowledge of an application area that constitute the "rules of good judgment" in the field?

________ distributions involve a situation with a limited number of events or variables that can take on only a finite number of values.

________ are variables that contain the values of intermediate outcomes in mathematical models.

Modeling involves data analysis with trend lines and establishing relationships with statistical methods.

In developing countries,small changes in state-run social programs using management science support can lead to enormous savings.

________ conveniently organize information and knowledge in a systematic,tabular manner to prepare it for analysis.

________ is a variable that expresses the result of a decision (e.g.,one concerning profit),usually one of the goals of a decision-making problem.

A DSS can be composed of several models,some standard and some custom built,used collectively to support strategic decisions in the company.

Which of the following is not a characteristic of a linear programming model?

There is a trend toward developing and using Web tools and software to access and run software to perform modeling,optimization,and simulation,even though this has complicated the application of many models to real-world problems.

Distinguish between decision making under certainty,risk,and uncertainty.

Monte Carlo simulation is a type of ________ simulation.