Question 1

A factor that plays a role in determining whether a good or bad outcome occurs is called

Accepted Answer

A) Luck. 
B) Intuition. 
C) Certainty. 
D) Predictability. 
A) Luck. 
B) Intuition. 
C) Certainty. 
D) Predictability. A

Question 2

A road map is an example of

Accepted Answer

A) a mathematical model. 
B) a mental model. 
C) a physical model. 
D) a visual model. 
A) a mathematical model. 
B) a mental model. 
C) a physical model. 
D) a visual model. D

Question 3

In which of the following categories of modeling techniques do the independent variables have unknown or uncertain values or coefficients?

Accepted Answer

A) Descriptive models 
B) Predictive models 
C) Prescriptive models 
D) Probabilistic models 
A) Descriptive models 
B) Predictive models 
C) Prescriptive models 
D) Probabilistic models A

Question 4

Chapter One discussed all of the following except:

Accepted Answer

A) how models of decision problems differ in a number of important characteristics. 
B) how spreadsheet modeling and analysis fit into the problem-solving process. 
C) how spreadsheet models of decision problems can be used to analyze the consequences of possible courses of action. 
D) how to implement a problem formulation as a spreadsheet model. 
A) how models of decision problems differ in a number of important characteristics. 
B) how spreadsheet modeling and analysis fit into the problem-solving process. 
C) how spreadsheet models of decision problems can be used to analyze the consequences of possible courses of action. 
D) how to implement a problem formulation as a spreadsheet model.

Question 5

To illustrate how a complex system will be built, an engineer will likely use a

Accepted Answer

A) Mathematical model 
B) Mental model 
C) Physical model 
D) Visual model 
A) Mathematical model 
B) Mental model 
C) Physical model 
D) Visual model

Question 6

Which step of the problem-solving process is considered the most important?

Accepted Answer

A) Identify problem. 
B) Analyze model. 
C) Test results. 
D) Implement solution. 
A) Identify problem. 
B) Analyze model. 
C) Test results. 
D) Implement solution.

Question 7

Which of the following is most likely to be used when faced with the decision of how to arrange furniture in a room?

Accepted Answer

A) Mathematical model 
B) Mental model 
C) Physical model 
D) Visual model 
A) Mathematical model 
B) Mental model 
C) Physical model 
D) Visual model

Question 8

The Chapter One "The World of Management Science" case reading offers the CEO alternatives to start the OR/MS collaboration process. All the following are alternatives offered EXCEPT:

Accepted Answer

A) Require the OR/MS group to save their yearly salary in every study. 
B) Use OR/MS personnel as consultants. 
C) Hire some OR/MS professionals and give them a problem to work. 
D) All are recommended alternatives. 
A) Require the OR/MS group to save their yearly salary in every study. 
B) Use OR/MS personnel as consultants. 
C) Hire some OR/MS professionals and give them a problem to work. 
D) All are recommended alternatives.

Question 9

All of the following are benefits of modeling except:

Accepted Answer

A) Modeling delivers needed information on a more timely basis. 
B) Modeling finds the right answers to incorrect or flawed problem statements. 
C) Modeling is helpful in examining things that would be impossible to do in reality. 
D) Modeling is less expensive than implementing several alternative solutions. 
A) Modeling delivers needed information on a more timely basis. 
B) Modeling finds the right answers to incorrect or flawed problem statements. 
C) Modeling is helpful in examining things that would be impossible to do in reality. 
D) Modeling is less expensive than implementing several alternative solutions.

Question 10

In which step of the problem-solving process is the main focus to generate and evaluate alternatives?

Accepted Answer

A) Identify problem 
B) Formulate model 
C) Use model to analyze problem 
D) Test results 
A) Identify problem 
B) Formulate model 
C) Use model to analyze problem 
D) Test results

Question 11

The Chapter One "The World of Management Science" case reading discusses the relationship between OR/MS and IS professionals. Which of the following statements is NOT true?

Accepted Answer

A) OR/MS analysts need IS professionals' data for their models. 
B) OR/MS analysts need to take many of the IS customers. 
C) The IS professional cannot use OR/MS tools in their applications. 
D) The IS tools can start to recommend solutions using OR/MS skills. 
A) OR/MS analysts need IS professionals' data for their models. 
B) OR/MS analysts need to take many of the IS customers. 
C) The IS professional cannot use OR/MS tools in their applications. 
D) The IS tools can start to recommend solutions using OR/MS skills.

Question 12

In a decision-making framework presented in Chapter One, the term "poetic justice" refers to a situation when the following occur:

Accepted Answer

A) Good decision quality and good outcome quality. 
B) Good decision quality and bad outcome quality. 
C) Bad decision quality and good outcome quality. 
D) Bad decision quality and bad outcome quality. 
A) Good decision quality and good outcome quality. 
B) Good decision quality and bad outcome quality. 
C) Bad decision quality and good outcome quality. 
D) Bad decision quality and bad outcome quality.

Question 13

A mathematical model is considered to be "valid" when

Accepted Answer

A) it accurately represents the relevant characteristics of the object or decision. 
B) it has passed a validation test. 
C) it replicates all aspects of the object or decision. 
D) the left-hand and right-hand sides of expressions are equal. 
A) it accurately represents the relevant characteristics of the object or decision. 
B) it has passed a validation test. 
C) it replicates all aspects of the object or decision. 
D) the left-hand and right-hand sides of expressions are equal.

Question 14

Which of the following is true of "What if?" analysis?

Accepted Answer

A) A well-designed spreadsheet facilitates "What if?" analysis. 
B) It is not very useful when working with non mathematical models. 
C) "What if?" analysis is an efficient optimization technique. 
D) "What if?" analysis is useful in creating a well-defined problem statement. 
A) A well-designed spreadsheet facilitates "What if?" analysis. 
B) It is not very useful when working with non mathematical models. 
C) "What if?" analysis is an efficient optimization technique. 
D) "What if?" analysis is useful in creating a well-defined problem statement.

Question 15

The main point brought forward in the Chapter One "The World of Management Science" case reading is:

Accepted Answer

A) At a cocktail party, it is more efficient to divide the dip into several bowls and place them around the room. 
B) Competitive rivalry between IS and OR/MS groups can be turned to advantage when tackling business process re-engineering projects. 
C) Information system analysts trained in management science can help turn ordinary information systems into money-saving decision-support systems. 
D) OR/MS professionals lack communication skills and tend to focus on "rigor without relevance". 
A) At a cocktail party, it is more efficient to divide the dip into several bowls and place them around the room. 
B) Competitive rivalry between IS and OR/MS groups can be turned to advantage when tackling business process re-engineering projects. 
C) Information system analysts trained in management science can help turn ordinary information systems into money-saving decision-support systems. 
D) OR/MS professionals lack communication skills and tend to focus on "rigor without relevance".

Question 16

Which of the following categories of modeling techniques includes simulation?

Accepted Answer

A) Descriptive models 
B) Predictive models 
C) Prescriptive models 
D) Scale models 
A) Descriptive models 
B) Predictive models 
C) Prescriptive models 
D) Scale models

Question 17

The goal of the modeling approach to problem solving is to

Accepted Answer

A) Help individuals make good decisions. 
B) Ensure optimality of decisions. 
C) Determine a set of optimal decisions. 
D) Determine feasibility of decisions. 
A) Help individuals make good decisions. 
B) Ensure optimality of decisions. 
C) Determine a set of optimal decisions. 
D) Determine feasibility of decisions.

Question 18

In the following expression, which is (are) the dependent variable(s)? 
PROFIT = REVENUE - EXPENSES

Accepted Answer

A) Profit 
B) Revenue 
C) Expenses 
D) (b) and (c) 
A) Profit 
B) Revenue 
C) Expenses 
D) (b) and (c)

Question 19

Consistently using a structured, model based process to make decisions

Accepted Answer

A) Should produce good outcomes more frequently. 
B) Is less effective than making decisions in a haphazard manner. 
C) Is evidence that luck plays an important role in decision making. 
D) Always leads to well-deserved success in managerial decision making. 
A) Should produce good outcomes more frequently. 
B) Is less effective than making decisions in a haphazard manner. 
C) Is evidence that luck plays an important role in decision making. 
D) Always leads to well-deserved success in managerial decision making.

Question 20

The categories of modeling techniques presented in this book include all of the following except:

Accepted Answer

A) descriptive models. 
B) predictive models. 
C) prescriptive models. 
D) preventive models. 
A) descriptive models. 
B) predictive models. 
C) prescriptive models. 
D) preventive models.

A factor that plays a role in determining whether a good or bad outcome occurs is called

A road map is an example of

In which of the following categories of modeling techniques do the independent variables have unknown or uncertain values or coefficients?

Chapter One discussed all of the following except:

To illustrate how a complex system will be built, an engineer will likely use a

Which step of the problem-solving process is considered the most important?

Which of the following is most likely to be used when faced with the decision of how to arrange furniture in a room?

The Chapter One "The World of Management Science" case reading offers the CEO alternatives to start the OR/MS collaboration process. All the following are alternatives offered EXCEPT:

All of the following are benefits of modeling except:

In which step of the problem-solving process is the main focus to generate and evaluate alternatives?

The Chapter One "The World of Management Science" case reading discusses the relationship between OR/MS and IS professionals. Which of the following statements is NOT true?

In a decision-making framework presented in Chapter One, the term "poetic justice" refers to a situation when the following occur:

A mathematical model is considered to be "valid" when

Which of the following is true of "What if?" analysis?

The main point brought forward in the Chapter One "The World of Management Science" case reading is:

Which of the following categories of modeling techniques includes simulation?

The goal of the modeling approach to problem solving is to

In the following expression, which is (are) the dependent variable(s)? PROFIT = REVENUE - EXPENSES

Consistently using a structured, model based process to make decisions

The categories of modeling techniques presented in this book include all of the following except:

Introduction to Optimization and Linear Programming

Modeling and Solving Lp Problems in a Spreadsheet

Sensitivity Analysis and the Simplex Method

Network Modeling

Integer Linear Programming

Goal Programming and Multiple Objective Optimization

Nonlinear Programming and Evolutionary Optimization

Regression Analysis

Discriminant Analysis

Time Series Forecasting

Introduction to Simulation Using Risk Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

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Exam 1: Introduction to Modeling and Decision Analysis

A factor that plays a role in determining whether a good or bad outcome occurs is called

A road map is an example of

In which of the following categories of modeling techniques do the independent variables have unknown or uncertain values or coefficients?

Chapter One discussed all of the following except:

To illustrate how a complex system will be built, an engineer will likely use a

Which step of the problem-solving process is considered the most important?

Which of the following is most likely to be used when faced with the decision of how to arrange furniture in a room?

The Chapter One "The World of Management Science" case reading offers the CEO alternatives to start the OR/MS collaboration process. All the following are alternatives offered EXCEPT:

All of the following are benefits of modeling except:

In which step of the problem-solving process is the main focus to generate and evaluate alternatives?

The Chapter One "The World of Management Science" case reading discusses the relationship between OR/MS and IS professionals. Which of the following statements is NOT true?

In a decision-making framework presented in Chapter One, the term "poetic justice" refers to a situation when the following occur:

A mathematical model is considered to be "valid" when

Which of the following is true of "What if?" analysis?

The main point brought forward in the Chapter One "The World of Management Science" case reading is:

Which of the following categories of modeling techniques includes simulation?

The goal of the modeling approach to problem solving is to

In the following expression, which is (are) the dependent variable(s)? PROFIT = REVENUE - EXPENSES

Consistently using a structured, model based process to make decisions

The categories of modeling techniques presented in this book include all of the following except:

Introduction to Optimization and Linear Programming

Modeling and Solving Lp Problems in a Spreadsheet

Sensitivity Analysis and the Simplex Method

Network Modeling

Integer Linear Programming

Goal Programming and Multiple Objective Optimization

Nonlinear Programming and Evolutionary Optimization

Regression Analysis

Discriminant Analysis

Time Series Forecasting

Introduction to Simulation Using Risk Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters