Question 1

Managers make decisions based solely on the quantitative factors involved in the problem

Accepted Answer

A) True 
 B)False  False

Question 2

Which of the following are components of a mathematical model for decision making?

Accepted Answer

A) Decision variables 
B) An objective function 
C) Constraints 
D) Parameters 
E) All of the above 
A) Decision variables 
B) An objective function 
C) Constraints 
D) Parameters 
E) All of the above E

Question 3

Enlightened future managers should know which of the following?

Accepted Answer

A) The power and relevance of management science 
B) When management science can and cannot be applied 
C) How to apply the major techniques of management science 
D) How to interpret the results of a management science study 
E) All of the above 
A) The power and relevance of management science 
B) When management science can and cannot be applied 
C) How to apply the major techniques of management science 
D) How to interpret the results of a management science study 
E) All of the above E

Question 4

A cost that varies with the production volume would be a fixed cost

Accepted Answer

A) True 
 B)False

Question 5

Once management makes its decisions,the management science team typically is finished with its involvement in the problem

Accepted Answer

A) True 
 B)False

Question 6

Managers may base their decisions on which of the following?

Accepted Answer

A) Quantitative factors 
B) Their best judgement 
C) Opinions from other managers 
D) Past experience 
E) All of the above 
A) Quantitative factors 
B) Their best judgement 
C) Opinions from other managers 
D) Past experience 
E) All of the above

Question 7

A constraint is an algebraic variable that represents a quantifiable decision to be made

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is a constant in a mathematical model?

Accepted Answer

A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above 
A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above

Question 9

Spreadsheets allow many managers to conduct their own analyses in management science studies

Accepted Answer

A) True 
 B)False

Question 10

The objective function for a model is a mathematical expression of the measure of performance for the problem in terms of the decision variables

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is an inequality or equation that expresses a restriction in a mathematical model?

Accepted Answer

A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above 
A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above

Question 12

Which of the following is a mathematical expression that gives the measure of performance for the problem?

Accepted Answer

A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above 
A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above

Question 13

A cost that varies with the production volume would be a variable cost

Accepted Answer

A) True 
 B)False

Question 14

A parameter in a model is a variable that represents a decision to be made

Accepted Answer

A) True 
 B)False

Question 15

Which of the following are steps in a typical management science study?

Accepted Answer

A) Define the problem and gather data 
B) Formulate a model to represent the problem 
C) Test the model and refine it as needed 
D) Help to implement the recommendations 
E) All of the above 
A) Define the problem and gather data 
B) Formulate a model to represent the problem 
C) Test the model and refine it as needed 
D) Help to implement the recommendations 
E) All of the above

Question 16

A decision variable is an algebraic variable that represents a quantifiable decision to be made

Accepted Answer

A) True 
 B)False

Question 17

The discovery of the simplex method in 1947 was the beginning of management science as a discipline

Accepted Answer

A) True 
 B)False

Question 18

Management science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors

Accepted Answer

A) True 
 B)False

Question 19

At the break-even point,management is indifferent between producing a product and not producing it

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is an inequality or equation that expresses a restriction in a mathematical model?

Accepted Answer

A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above 
A) Decision variable 
B) Parameter 
C) Objective function 
D) Constraint 
E) None of the above

Managers make decisions based solely on the quantitative factors involved in the problem

Which of the following are components of a mathematical model for decision making?

Enlightened future managers should know which of the following?

A cost that varies with the production volume would be a fixed cost

Once management makes its decisions,the management science team typically is finished with its involvement in the problem

Managers may base their decisions on which of the following?

A constraint is an algebraic variable that represents a quantifiable decision to be made

Which of the following is a constant in a mathematical model?

Spreadsheets allow many managers to conduct their own analyses in management science studies

The objective function for a model is a mathematical expression of the measure of performance for the problem in terms of the decision variables

Which of the following is an inequality or equation that expresses a restriction in a mathematical model?

Which of the following is a mathematical expression that gives the measure of performance for the problem?

A cost that varies with the production volume would be a variable cost

A parameter in a model is a variable that represents a decision to be made

Which of the following are steps in a typical management science study?

A decision variable is an algebraic variable that represents a quantifiable decision to be made

The discovery of the simplex method in 1947 was the beginning of management science as a discipline

Management science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors

At the break-even point,management is indifferent between producing a product and not producing it

Which of the following is an inequality or equation that expresses a restriction in a mathematical model?

Linear programming: Basic Concepts

Linear programming: Formulation and applications

Theart of modeling with spread sheets

What-If Analysis for linear programming

Network optimization problems

Using binary integer programming to deal withy es-Or-No decisions

Non linear programming

Decision Analysis

Forecasting

Queuing models

Computer simulation: Basic Concepts

Computer simulation with risks olver platform

Solution concepts for linear programming

Transportation and assignment problems

Pert CPM models for project management

Goal programming

Inventory management with known demand

Inventory management with uncertain demand

Computer simulation with crystal ball

Filters

Exam 1: Introduction

Managers make decisions based solely on the quantitative factors involved in the problem

Which of the following are components of a mathematical model for decision making?

Enlightened future managers should know which of the following?

A cost that varies with the production volume would be a fixed cost

Once management makes its decisions,the management science team typically is finished with its involvement in the problem

Managers may base their decisions on which of the following?

A constraint is an algebraic variable that represents a quantifiable decision to be made

Which of the following is a constant in a mathematical model?

Spreadsheets allow many managers to conduct their own analyses in management science studies

The objective function for a model is a mathematical expression of the measure of performance for the problem in terms of the decision variables

Which of the following is an inequality or equation that expresses a restriction in a mathematical model?

Which of the following is a mathematical expression that gives the measure of performance for the problem?

A cost that varies with the production volume would be a variable cost

A parameter in a model is a variable that represents a decision to be made

Which of the following are steps in a typical management science study?

A decision variable is an algebraic variable that represents a quantifiable decision to be made

The discovery of the simplex method in 1947 was the beginning of management science as a discipline

Management science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors

At the break-even point,management is indifferent between producing a product and not producing it

Which of the following is an inequality or equation that expresses a restriction in a mathematical model?

Linear programming: Basic Concepts

Linear programming: Formulation and applications

Theart of modeling with spread sheets

What-If Analysis for linear programming

Network optimization problems

Using binary integer programming to deal withy es-Or-No decisions

Non linear programming

Decision Analysis

Forecasting

Queuing models

Computer simulation: Basic Concepts

Computer simulation with risks olver platform

Solution concepts for linear programming

Transportation and assignment problems

Pert CPM models for project management

Goal programming

Inventory management with known demand

Inventory management with uncertain demand

Computer simulation with crystal ball

Filters