Question 1

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.

Question 2

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 3

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 4

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 5

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.

Question 6

Which of the following statements is true of using models in problem solving and decision analysis?

Accepted Answer

A) It is a fairly new idea. 
B) It is required in order to find good solutions. 
C) It is something everyone has done before. 
D) It is tied to the use of computers. 
A) It is a fairly new idea. 
B) It is required in order to find good solutions. 
C) It is something everyone has done before. 
D) It is tied to the use of computers.

Question 7

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 8

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.

Question 9

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 10

Better decision making due to using a modeling process is achieved due to

Accepted Answer

A) the interaction with the spreadsheet. 
B) the visualization of the system being studied. 
C) the insight gained through the process. 
D) the timeliness of the results obtained. 
A) the interaction with the spreadsheet. 
B) the visualization of the system being studied. 
C) the insight gained through the process. 
D) the timeliness of the results obtained.

Question 11

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.

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

In a decision-making problem, anchoring effects occur when

Why would someone wish to use a spreadsheet model?

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

Identifying the real problems faced by the decision maker

Which of the following statements is true of using models in problem solving and decision analysis?

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

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

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

Better decision making due to using a modeling process is achieved due to

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

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 categories of modeling techniques includes discriminant analysis?

In a decision-making problem, anchoring effects occur when

Why would someone wish to use a spreadsheet model?

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

Identifying the real problems faced by the decision maker

Which of the following statements is true of using models in problem solving and decision analysis?

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

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

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

Better decision making due to using a modeling process is achieved due to

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

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