Exam 4: Modeling and Analysis

Decision situations that involve a finite and usually not-too-large number of alternatives are modeled by an approach called ________.

A model builder makes predictions and assumptions regarding the input data,many of which deal with the assessment of uncertain futures.Which of the following attempts to assess the impact of a change in the input data or parameters on the proposed solution?

Which of the following calculates the values of the inputs necessary to achieve a desired level of an output?

________ is a measure of how difficult a problem is in terms of its formulation for optimization,its required optimization effort,or its stochastic nature.

What is an influence diagram? Name a benefit of influence diagrams.

List the characteristics of a linear program allocation problem.

________ is a type of model that is used to find a good enough solution,or the best solution among alternatives,using experimentation.

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

The allocation of resources in a linear programming problem is usually restricted by limitations and requirements called ________.

Decision situations are often classified on the basis of what the decision maker knows about the forecasted results.Which of the following is one of the categories?

Models,like data,must be managed to maintain their applicability,and thus their integrity.

List the type of relationships sensitivity analysis study can test.

Predictive analytics is essential for construction and manipulation of models because when a decision is implemented,the results usually occur in the future.

________ investigates what the effect of changing some of the input data or parameters would be.

A(n)________ is a model based management system constructed in an object-oriented environment.

Which of the following techniques is used to solve optimization problems that have few alternatives?

________ is a family of tools designed to help solve managerial problems in which the decision maker must allocate scarce resources among competing activities to optimize a measurable goal.

E-commerce has created an immense need for ________ and an abundance of available information for performing it.

________ diagrams are graphical models of mathematical models,which can facilitate the process of identifying the model's variables.

________ uses animated computer graphic displays to present the impact of different managerial decisions.It differs from regular graphics in that the user can adjust the decision making process and see the results of the intervention.