Question 1

Which of the following is not one of the desired conditions for a successful model implementation?

Accepted Answer

A) The people who will run the model understand how to enter appropriate inputs 
B) The people who will run the model are able to run what-if analysis 
C) The people who will run the model are able to modify it 
D) The people who will run the model are able to interpret the model's outputs correctly 
A) The people who will run the model understand how to enter appropriate inputs 
B) The people who will run the model are able to run what-if analysis 
C) The people who will run the model are able to modify it 
D) The people who will run the model are able to interpret the model's outputs correctly C

Question 2

Before trusting the answers to what-if scenarios from a spreadsheet model, a manager should attempt to:

Accepted Answer

A) validate the model 
B) make sure all possible scenarios have been investigated 
C) check the mathematics in the model 
D) sense-check the model 
A) validate the model 
B) make sure all possible scenarios have been investigated 
C) check the mathematics in the model 
D) sense-check the model A

Question 3

One of the arguments that management science practitioners have used to criticize the emphasis on specific models is that they do not provide the correct answer.

Accepted Answer

A) True 
 B)False  False

Question 4

A good model should achieve the right balance between being too simple and too complex.

Accepted Answer

A) True 
 B)False

Question 5

As models become larger and more complex, heuristic solutions are often adequate, even though they are not necessarily optimal solutions.

Accepted Answer

A) True 
 B)False

Question 6

A management science model is typically initiated when an organization believes it has a problem.

Accepted Answer

A) True 
 B)False

Question 7

The overall modeling process typically done in practice always requires seven steps: define the problem, collect and summarize data, develop a model, verify the model, select one or more suitable decisions, present the results to the organization, and finally implement the model and update it through time.

Accepted Answer

A) True 
 B)False

Question 8

One of the advantages of spreadsheet models is that they allow managers to ask what-if questions.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following type of model is used when an appropriate equation or system of equations can be developed to represent the system?

Accepted Answer

A) Simulation model 
B) Analytical model 
C) Heuristic model 
D) Spreadsheet model 
A) Simulation model 
B) Analytical model 
C) Heuristic model 
D) Spreadsheet model

Question 10

Optimization models are useful for determining:

Accepted Answer

A) sensitivity to inputs 
B) whether the inputs are valid or not 
C) what the manager should do 
D) the value of the output under the current conditions 
A) sensitivity to inputs 
B) whether the inputs are valid or not 
C) what the manager should do 
D) the value of the output under the current conditions

Question 11

Management science has often been taught as a collection of:

Accepted Answer

A) theories. 
B) problems. 
C) models. 
D) topics. 
A) theories. 
B) problems. 
C) models. 
D) topics.

Question 12

The best strategy for implementation of a model is to involve key people in the organization in the project when the model is ready for testing and verification.

Accepted Answer

A) True 
 B)False

Question 13

The most frequent cause of a failed implementation of a model is:

Accepted Answer

A) the model is incorrect 
B) the analyst fails to communicate how to use the model 
C) the data for the model is unavailable 
D) the model is too complex 
A) the model is incorrect 
B) the analyst fails to communicate how to use the model 
C) the data for the model is unavailable 
D) the model is too complex

Question 14

Which of the following is a type of model that is key to virtually every management science application?

Accepted Answer

A) Heuristic model 
B) Queuing model 
C) Mathematical model 
D) Regression model 
A) Heuristic model 
B) Queuing model 
C) Mathematical model 
D) Regression model

Question 15

Modeling is a process where the essence of a theoretical problem is extracted into a model, spreadsheet or otherwise.

Accepted Answer

A) True 
 B)False

Question 16

Defining an organization's problem includes:

Accepted Answer

A) specifying the organization's objectives 
B) collecting the organization's historical data 
C) defining the model of the problem 
D) sensitivity analysis 
A) specifying the organization's objectives 
B) collecting the organization's historical data 
C) defining the model of the problem 
D) sensitivity analysis

Question 17

Which of the following is not necessarily a property of a good model?

Accepted Answer

A) The model represents the client's real problem accurately 
B) The model is as simple as possible 
C) The model is based on a well-known algorithm 
D) The model is one the client can understand 
A) The model represents the client's real problem accurately 
B) The model is as simple as possible 
C) The model is based on a well-known algorithm 
D) The model is one the client can understand

Question 18

Which of the following is not one of the guiding principles for a heuristic?

Accepted Answer

A) Common sense 
B) Intuition 
C) Trial and error 
D) Optimality 
A) Common sense 
B) Intuition 
C) Trial and error 
D) Optimality

Question 19

A completed model typically marks the end of the modeling process.

Accepted Answer

A) True 
 B)False

Question 20

Data are often not in the required form, in which case it is the analysts' job to gather the right data and put it into an appropriate format.

Accepted Answer

A) True 
 B)False

Which of the following is not one of the desired conditions for a successful model implementation?

Before trusting the answers to what-if scenarios from a spreadsheet model, a manager should attempt to:

One of the arguments that management science practitioners have used to criticize the emphasis on specific models is that they do not provide the correct answer.

A good model should achieve the right balance between being too simple and too complex.

As models become larger and more complex, heuristic solutions are often adequate, even though they are not necessarily optimal solutions.

A management science model is typically initiated when an organization believes it has a problem.

One of the advantages of spreadsheet models is that they allow managers to ask what-if questions.

Which of the following type of model is used when an appropriate equation or system of equations can be developed to represent the system?

Optimization models are useful for determining:

Management science has often been taught as a collection of:

The best strategy for implementation of a model is to involve key people in the organization in the project when the model is ready for testing and verification.

The most frequent cause of a failed implementation of a model is:

Which of the following is a type of model that is key to virtually every management science application?

Modeling is a process where the essence of a theoretical problem is extracted into a model, spreadsheet or otherwise.

Defining an organization's problem includes:

Which of the following is not necessarily a property of a good model?

Which of the following is not one of the guiding principles for a heuristic?

A completed model typically marks the end of the modeling process.

Data are often not in the required form, in which case it is the analysts' job to gather the right data and put it into an appropriate format.

Introduction to Spreadsheet Modeling

Introduction to Optimization Modeling

Linear Programming Models

Network Models

Optimization Models With Integer Variables

Nonlinear Optimization Models

Evolutionary Solver: An Alternative Optimization Procedure

Decision Making Under Uncertainty

Introduction to Simulation Modeling

Simulation Models

Inventory and Supply Chain Models

Queuing Models

Regression and Forecasting Models

Filters

Exam 1: Introduction to Modeling

Which of the following is not one of the desired conditions for a successful model implementation?

Before trusting the answers to what-if scenarios from a spreadsheet model, a manager should attempt to:

One of the arguments that management science practitioners have used to criticize the emphasis on specific models is that they do not provide the correct answer.

A good model should achieve the right balance between being too simple and too complex.

As models become larger and more complex, heuristic solutions are often adequate, even though they are not necessarily optimal solutions.

A management science model is typically initiated when an organization believes it has a problem.

One of the advantages of spreadsheet models is that they allow managers to ask what-if questions.

Which of the following type of model is used when an appropriate equation or system of equations can be developed to represent the system?

Optimization models are useful for determining:

Management science has often been taught as a collection of:

The best strategy for implementation of a model is to involve key people in the organization in the project when the model is ready for testing and verification.

The most frequent cause of a failed implementation of a model is:

Which of the following is a type of model that is key to virtually every management science application?

Modeling is a process where the essence of a theoretical problem is extracted into a model, spreadsheet or otherwise.

Defining an organization's problem includes:

Which of the following is not necessarily a property of a good model?

Which of the following is not one of the guiding principles for a heuristic?

A completed model typically marks the end of the modeling process.

Data are often not in the required form, in which case it is the analysts' job to gather the right data and put it into an appropriate format.

Introduction to Spreadsheet Modeling

Introduction to Optimization Modeling

Linear Programming Models

Network Models

Optimization Models With Integer Variables

Nonlinear Optimization Models

Evolutionary Solver: An Alternative Optimization Procedure

Decision Making Under Uncertainty

Introduction to Simulation Modeling

Simulation Models

Inventory and Supply Chain Models

Queuing Models

Regression and Forecasting Models

Filters