Question 1

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 2

In which of the following categories of modeling techniques are the specifications of the relationships between dependent and independent variables unknown or ill-defined?

Accepted Answer

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

Question 3

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) A

Question 4

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 5

In which step of the problem-solving process is the concept of "probortunity" introduced?

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 6

Implementing solutions to problems involves people and change. Which of the following is a suggested approach to effectively implement solutions?

Accepted Answer

A)  Decision-making authority centralized to those who have specialized training in decision making. 
B)  Involve anyone affected by the decision in all steps of the problem-solving process. 
C)  Making decisions according to majority vote. 
D)  More skillful communication of management decisions. 
A)  Decision-making authority centralized to those who have specialized training in decision making. 
B)  Involve anyone affected by the decision in all steps of the problem-solving process. 
C)  Making decisions according to majority vote. 
D)  More skillful communication of management decisions.

Question 7

Which of the following is the type of model used throughout this textbook?

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

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 9

The Chapter One "The World of Business Analytics" 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 10

In a model Y=f(x1, x2), Y is called:

Accepted Answer

A)  a dependent variable. 
B)  an independent variable. 
C)  a confounded variable. 
D)  a convoluted variable. 
A)  a dependent variable. 
B)  an independent variable. 
C)  a confounded variable. 
D)  a convoluted variable.

Question 11

The best models

Accepted Answer

A)  accurately reflect relevant characteristics of the real-world object or decision. 
B)  are mathematical models. 
C)  replicate all aspects of the real-world object or decision. 
D)  replicate the characteristics of a component in isolation from the rest of the system. 
A)  accurately reflect relevant characteristics of the real-world object or decision. 
B)  are mathematical models. 
C)  replicate all aspects of the real-world object or decision. 
D)  replicate the characteristics of a component in isolation from the rest of the system.

Question 12

​Defining a problem well will often make it much easier to solve.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following steps in the problem-solving process is most likely to incur resistance from people affected by the proposed solution?

Accepted Answer

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

Question 14

In a decision-making framework presented in Chapter One, the term "deserved success" 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 15

OR/MS specialists do not deliver business value. ​

Accepted Answer

A) True 
 B)False

Question 16

In a decision-making problem, anchoring effects occur when

Accepted Answer

A)  decision makers are tied too closely to previous decisions. 
B)  organizations refuse to consider new alternatives. 
C)  a seemingly trivial factor serves as a starting point for estimations. 
D)  a person in a position of authority exerts his or her opinion very forcefully. 
A)  decision makers are tied too closely to previous decisions. 
B)  organizations refuse to consider new alternatives. 
C)  a seemingly trivial factor serves as a starting point for estimations. 
D)  a person in a position of authority exerts his or her opinion very forcefully.

Question 17

If results testing produces unsatisfactory results

Accepted Answer

A)  the problem-solving process requires new formulation and implementation. 
B)  minor adjustments to the existing model. 
C)  checking the solution algorithm. 
D)  repeated testing. 
A)  the problem-solving process requires new formulation and implementation. 
B)  minor adjustments to the existing model. 
C)  checking the solution algorithm. 
D)  repeated testing.

Question 18

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 19

The main point brought forward in the Chapter One "The World of Business Analytics" 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 20

Framing effect refers to:

Accepted Answer

A)  how a decision maker views the alternatives in a decision problem. 
B)  how difficult the decision is. 
C)  whether a software program can be used to obtain an optimal solution to a decision problem. 
D)  how structured the decision problem is. 
A)  how a decision maker views the alternatives in a decision problem. 
B)  how difficult the decision is. 
C)  whether a software program can be used to obtain an optimal solution to a decision problem. 
D)  how structured the decision problem is.

A road map is an example of

In which of the following categories of modeling techniques are the specifications of the relationships between dependent and independent variables unknown or ill-defined?

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

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

In which step of the problem-solving process is the concept of "probortunity" introduced?

Implementing solutions to problems involves people and change. Which of the following is a suggested approach to effectively implement solutions?

Which of the following is the type of model used throughout this textbook?

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

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

In a model Y=f(x₁, x₂), Y is called:

The best models

Defining a problem well will often make it much easier to solve.

Which of the following steps in the problem-solving process is most likely to incur resistance from people affected by the proposed solution?

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

OR/MS specialists do not deliver business value.

In a decision-making problem, anchoring effects occur when

If results testing produces unsatisfactory results

Chapter One discussed all of the following except:

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

Framing effect refers to:

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 Evolutionary Optimization

Regression Analysis

Data Mining

Time Series Forecasting

Introduction to Simulation Using Analytic Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters

Exam 1: Introduction to Modeling and Decision Analysis

A road map is an example of

In which of the following categories of modeling techniques are the specifications of the relationships between dependent and independent variables unknown or ill-defined?

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

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

In which step of the problem-solving process is the concept of "probortunity" introduced?

Implementing solutions to problems involves people and change. Which of the following is a suggested approach to effectively implement solutions?

Which of the following is the type of model used throughout this textbook?

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

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

In a model Y=f(x1, x2), Y is called:

The best models

​Defining a problem well will often make it much easier to solve.

Which of the following steps in the problem-solving process is most likely to incur resistance from people affected by the proposed solution?

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

OR/MS specialists do not deliver business value. ​

In a decision-making problem, anchoring effects occur when

If results testing produces unsatisfactory results

Chapter One discussed all of the following except:

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

Framing effect refers to:

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 Evolutionary Optimization

Regression Analysis

Data Mining

Time Series Forecasting

Introduction to Simulation Using Analytic Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters

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

In a model Y=f(x₁, x₂), Y is called:

Defining a problem well will often make it much easier to solve.

OR/MS specialists do not deliver business value.