Deck 1: Introduction

Question 1

The decision making process includes implementation and evaluation of the decision.

Answer 1

False

Question 2

The volume that results in total revenue being equal to total cost is the

A)break-even point.
B)marginal volume.
C)marginal cost.
D)profit mix.

Answer 2

A

Question 3

George Dantzig is important in the history of management science because he developed

A)the scientific management revolution.
B)World War II operations research teams.
C)the simplex method for linear programming.
D)powerful digital computers.

Answer 3

C

Question 4

The process of decision making is more limited than that of problem solving.

Question 5

Decision criteria

A)are the choices faced by the decision maker.
B)are the problems faced by the decision maker.
C)are the ways to evaluate the choices faced by the decision maker.
D)must be unique for a problem.

Question 6

A model that uses a system of symbols to represent a problem is called

A)mathematical.
B)iconic.
C)analog.
D)constrained.

Question 7

Management science and operations research both involve

A)qualitative managerial skills.
B)quantitative approaches to decision making.
C)operational management skills.
D)scientific research as opposed to applications.

Question 8

The terms 'stochastic' and 'deterministic' have the same meaning in quantitative analysis.

Question 9

Problem solving encompasses both the identification of a problem and the action to resolve it.

Question 10

The volume that results in marginal revenue equaling marginal cost is called the break-even point.A8

Question 11

A physical model that does not have the same physical appearance as the object being modeled is

A)an analog model.
B)an iconic model.
C)a mathematical model.
D)a qualitative model.

Question 12

The field of management science

A)concentrates on the use of quantitative methods to assist in decision making.
B)approaches decision making rationally, with techniques based on the scientific method.
C)is another name for decision science and for operations research.
D)each of the above is true.

Question 13

The first step in problem solving is

A)determination of the correct analytical solution procedure.
B)definition of decision variables.
C)the identification of a difference between the actual and desired state of affairs.
D)implementation.

Question 14

Inputs to a quantitative model

A)are a trivial part of the problem solving process.
B)are uncertain for a stochastic model.
C)are uncontrollable for the decision variables.
D)must all be deterministic if the problem is to have a solution.

Question 15

Problem definition

A)includes specific objectives and operating constraints.
B)must occur prior to the quantitative analysis process.
C)must involve the analyst and the user of the results.
D)each of the above is true.

Question 16

The quantitative analysis approach requires

A)the manager's prior experience with a similar problem.
B)a relatively uncomplicated problem.
C)mathematical expressions for the relationships.
D)each of the above is true.

Question 17

When the value of the output cannot be determined even if the value of the controllable input is known, the model is

A)analog.
B)digital.
C)stochastic.
D)deterministic.

Question 18

Identification and definition of a problem

A)cannot be done until alternatives are proposed.
B)is the first step of decision making.
C)is the final step of problem solving.
D)requires consideration of multiple criteria.

Question 19

In a multicriteria decision problem

A)it is impossible to select a single decision alternative.
B)the decision maker must evaluate each alternative with respect to each criterion.
C)successive decisions must be made over time.
D)each of the above is true.

Question 20

Decision alternatives

A)should be identified before decision criteria are established.
B)are limited to quantitative solutions
C)are evaluated as a part of the problem definition stage.
D)are best generated by brain-storming.

Question 21

Frederick Taylor is credited with forming the first MS/OR interdisciplinary teams in the 1940's.

Question 22

The most critical component in determining the success or failure of any quantitative approach to decision making is problem definition.

Question 23

The feasible solution is the best solution possible for a mathematical model.

Question 24

A company seeks to maximize profit subject to limited availability of man-hours.Man-hours is a controllable input.

Question 25

Uncontrollable inputs are the decision variables for a model.

Question 26

All uncontrollable inputs or data must be specified before we can analyze the model and recommend a decision or solution for the problem.

Question 27

The most successful quantitative analysis will separate the analyst from the managerial team until after the problem is fully structured.

Question 28

The value of any model is that it enables the user to make inferences about the real situation.

Question 29

To find the choice that provides the highest profit and the fewest employees, apply a single-criterion decision process.

Question 30

The first step in the decision making process is to identify the problem.