Question 1

Beneficial uses of the testing process include all of the following except:

Accepted Answer

A)  double checking the validity the model. 
B)  finding that some important assumption has been left out of the model. 
C)  giving no new insights into the nature of the problem. 
D)  improving solutions after the implementation step. 
A)  double checking the validity the model. 
B)  finding that some important assumption has been left out of the model. 
C)  giving no new insights into the nature of the problem. 
D)  improving solutions after the implementation step. D

Question 2

There are a variety of problems a manager might face. While presenting and defending your approach, how would you complete this thought? Several different modeling techniques are available to solve managerial decision problems,

Accepted Answer

A)  the wrong choice of modeling technique is a common source of implementation difficulties. 
B)  students should develop a strong preference and expertise in one technique so when faced with problems as managers they can formulate them as a model that can be solved by their favorite technique. 
C)  fundamental characteristics of the problem guide the selection of an appropriate modeling technique. 
D)  most problems faced by managers are fundamentally the same. 
A)  the wrong choice of modeling technique is a common source of implementation difficulties. 
B)  students should develop a strong preference and expertise in one technique so when faced with problems as managers they can formulate them as a model that can be solved by their favorite technique. 
C)  fundamental characteristics of the problem guide the selection of an appropriate modeling technique. 
D)  most problems faced by managers are fundamentally the same. C

Question 3

Which of the following categories of modeling techniques includes discriminant analysis?

Accepted Answer

A)  Biased models. 
B)  Descriptive models. 
C)  Predictive models. 
D)  Prescriptive models. 
A)  Biased models. 
B)  Descriptive models. 
C)  Predictive models. 
D)  Prescriptive models. C

Question 4

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.

Question 5

Virtually everyone who uses a spreadsheet today for model building and decision making

Accepted Answer

A)  is a practitioner of management science. 
B)  possesses an advanced knowledge of mathematics and computer programming languages. 
C)  is a CPA. 
D)  is in a position to influence decision makers. 
A)  is a practitioner of management science. 
B)  possesses an advanced knowledge of mathematics and computer programming languages. 
C)  is a CPA. 
D)  is in a position to influence decision makers.

Question 6

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 7

The specification or description of the relationship between the dependent and independent variables is generally called

Accepted Answer

A)  a constraint. 
B)  a declaration. 
C)  a function. 
D)  a mathematical model. 
A)  a constraint. 
B)  a declaration. 
C)  a function. 
D)  a mathematical model.

Question 8

Which of the following problem-solving steps is often considered the most difficult?

Accepted Answer

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

Question 9

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 10

Which of the following categories of modeling techniques includes optimization techniques?

Accepted Answer

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

Question 11

In this text we use the term "mathematics" to encompass i.   $\quad$ famuliar elements of math such as algebra operatorname .
ii. $\quad$logic.

Accepted Answer

A)  i only 
B)  ii only 
C)  Both i and ii 
D)  Neither i nor ii 
A)  i only 
B)  ii only 
C)  Both i and ii 
D)  Neither i nor ii

Question 12

Solutions to which of the following categories of modeling techniques indicate a course of action to the decision maker?

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

Question 13

The ultimate goal of the problem identification step of the problem-solving process is

Accepted Answer

A)  collecting lots of information. 
B)  helping the decision maker realize there is a problem. 
C)  identifying the root problem or problems causing the mess. 
D)  convincing the decision maker the mess is really a problem that can be solved. 
A)  collecting lots of information. 
B)  helping the decision maker realize there is a problem. 
C)  identifying the root problem or problems causing the mess. 
D)  convincing the decision maker the mess is really a problem that can be solved.

Question 14

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.

Question 15

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 16

Consider the spreadsheet model shown in the figure below. This is an example of a $\begin{array}{|l|l|r|l|}
\hline&A&B&C\
\hline 1 & & \
\hline 2 & & \
\hline 3 & \text { Purchase price } & \$ 32,500& \
\hline 4 & \text { 1ess: } & \
\hline 5 & \text { Down payment } & \$ 6,500 \
\hline 6 & \text { Trade-in } & \$ 4,000 \
\hline 7 & \text { Amount financed } & \$ 22,000 \
\hline 8 & & \
\hline 9 & \text { Term of loan } & 5 \text { years } \
\hline 10 & & \
\hline 11 & \text { Annual interest rate } & 11.25 \% \
\hline 12 & & \
\hline 13 & \text { Monthly payment } & \$ 481.08 \
\hline 14 & & \
\hline
\end{array}$

Accepted Answer

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

Question 17

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 18

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

Question 19

In a spreadsheet, input cells correspond conceptually to

Accepted Answer

A)  dependent variables. 
B)  functions. 
C)  independent variables. 
D)  output cells. 
A)  dependent variables. 
B)  functions. 
C)  independent variables. 
D)  output cells.

Question 20

The textbook figure of the problem-solving process is an example of a

Accepted Answer

A)  mental model. 
B)  prescriptive model. 
C)  graphical model. 
D)  visual model. 
A)  mental model. 
B)  prescriptive model. 
C)  graphical model. 
D)  visual model.

Beneficial uses of the testing process include all of the following except:

There are a variety of problems a manager might face. While presenting and defending your approach, how would you complete this thought? Several different modeling techniques are available to solve managerial decision problems,

Which of the following categories of modeling techniques includes discriminant analysis?

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

Virtually everyone who uses a spreadsheet today for model building and decision making

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

The specification or description of the relationship between the dependent and independent variables is generally called

Which of the following problem-solving steps is often considered the most difficult?

In a decision-making problem, anchoring effects occur when

Which of the following categories of modeling techniques includes optimization techniques?

In this text we use the term "mathematics" to encompass i. $\quad$ famuliar elements of math such as algebra operatorname . ii. $\quad$ logic.

Solutions to which of the following categories of modeling techniques indicate a course of action to the decision maker?

The ultimate goal of the problem identification step of the problem-solving process is

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

The best models

Consider the spreadsheet model shown in the figure below. This is an example of a A B C 1 2 3 Purchase price \ 32,500 4 1ess: 5 Down payment \ 6,500 6 Trade-in \ 4,000 7 Amount financed \ 22,000 8 9 Term of loan 5 years 10 11 Annual interest rate 11.25\% 12 13 Monthly payment \ 481.08 14

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

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 a spreadsheet, input cells correspond conceptually to

The textbook figure of the problem-solving process is an example of a

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

Exam 1: Introduction to Modeling and Decision Analysis

Beneficial uses of the testing process include all of the following except:

There are a variety of problems a manager might face. While presenting and defending your approach, how would you complete this thought? Several different modeling techniques are available to solve managerial decision problems,

Which of the following categories of modeling techniques includes discriminant analysis?

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

Virtually everyone who uses a spreadsheet today for model building and decision making

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

The specification or description of the relationship between the dependent and independent variables is generally called

Which of the following problem-solving steps is often considered the most difficult?

In a decision-making problem, anchoring effects occur when

Which of the following categories of modeling techniques includes optimization techniques?

In this text we use the term "mathematics" to encompass i. \quad famuliar elements of math such as algebra operatorname . ii. \quad logic.

Solutions to which of the following categories of modeling techniques indicate a course of action to the decision maker?

The ultimate goal of the problem identification step of the problem-solving process is

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

The best models

Consider the spreadsheet model shown in the figure below. This is an example of a A B C 1 2 3 Purchase price \ 32,500 4 1ess: 5 Down payment \ 6,500 6 Trade-in \ 4,000 7 Amount financed \ 22,000 8 9 Term of loan 5 years 10 11 Annual interest rate 11.25\% 12 13 Monthly payment \ 481.08 14

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

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 a spreadsheet, input cells correspond conceptually to

The textbook figure of the problem-solving process is an example of a

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

In this text we use the term "mathematics" to encompass i. $\quad$ famuliar elements of math such as algebra operatorname . ii. $\quad$ logic.