Question 1

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 2

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 3

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 4

A situation when decision quality is good and the resulting outcome quality is good is referred to as

Accepted Answer

A)  Pure luck. 
B)  Deserved success. 
C)  Dumb luck. 
D)  Poetic justice. 
A)  Pure luck. 
B)  Deserved success. 
C)  Dumb luck. 
D)  Poetic justice.

Question 5

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 6

Why would someone wish to use a spreadsheet model?

Accepted Answer

A)  To implement a computer model. 
B)  Because spreadsheets are convenient. 
C)  To analyze decision alternatives. 
D)  All of these. 
A)  To implement a computer model. 
B)  Because spreadsheets are convenient. 
C)  To analyze decision alternatives. 
D)  All of these.

Question 7

A purely rational decision maker should

Accepted Answer

A)  Consistently select the same alternative, regardless of how the problem is framed. 
B)  Disregard the consequences of his/her choices. 
C)  Always select optimal action. 
D)  Allow emotions influence the decision. 
A)  Consistently select the same alternative, regardless of how the problem is framed. 
B)  Disregard the consequences of his/her choices. 
C)  Always select optimal action. 
D)  Allow emotions influence the decision.

Question 8

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 9

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

Question 10

The essence of decision analysis is:

Accepted Answer

A)  breaking down complex situations into manageable elements. 
B)  choosing the best course of action among alternatives. 
C)  finding the root cause of why something has gone wrong. 
D)  thinking ahead to avoid negative consequences. 
A)  breaking down complex situations into manageable elements. 
B)  choosing the best course of action among alternatives. 
C)  finding the root cause of why something has gone wrong. 
D)  thinking ahead to avoid negative consequences.

Question 11

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 12

Which of the following fields of study is defined in Chapter One as the one that "uses computers, statistics, and mathematics to solve business problems"?

Accepted Answer

A)  Accounting 
B)  Information systems 
C)  Management science 
D)  Scientific management 
A)  Accounting 
B)  Information systems 
C)  Management science 
D)  Scientific management

Question 13

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 14

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 15

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.

Question 16

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 17

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 18

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 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

Identifying the real problems faced by the decision maker

Accepted Answer

A)  is not important since the decision maker has already defined the problem. 
B)  requires insight, some imagination, time and a good bit of detective work. 
C)  first requires a well-defined problem statement. 
D)  will lead to developing the best model. 
A)  is not important since the decision maker has already defined the problem. 
B)  requires insight, some imagination, time and a good bit of detective work. 
C)  first requires a well-defined problem statement. 
D)  will lead to developing the best model.

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

Chapter One discussed all of the following except:

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

A situation when decision quality is good and the resulting outcome quality is good is referred to as

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

Why would someone wish to use a spreadsheet model?

A purely rational decision maker should

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

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

The essence of decision analysis is:

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

Which of the following fields of study is defined in Chapter One as the one that "uses computers, statistics, and mathematics to solve business problems"?

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

The goal of the modeling approach to problem solving is to

A road map is an example of

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:

A mathematical model is considered to be "valid" when

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

Consistently using a structured, model based process to make decisions

Identifying the real problems faced by the decision maker

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

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

Chapter One discussed all of the following except:

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

A situation when decision quality is good and the resulting outcome quality is good is referred to as

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

Why would someone wish to use a spreadsheet model?

A purely rational decision maker should

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

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

The essence of decision analysis is:

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

Which of the following fields of study is defined in Chapter One as the one that "uses computers, statistics, and mathematics to solve business problems"?

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

The goal of the modeling approach to problem solving is to

A road map is an example of

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:

A mathematical model is considered to be "valid" when

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

Consistently using a structured, model based process to make decisions

Identifying the real problems faced by the decision maker

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