# Quiz 1: Introduction

Business

Q 1Q 1

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 these choices are true.

Free

Multiple Choice

D

Q 2Q 2

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.

Free

Multiple Choice

B

Q 3Q 3

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.

Free

Multiple Choice

A

Q 4Q 4

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.

Free

Multiple Choice

Q 5Q 5

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 these choices are true.

Free

Multiple Choice

Q 6Q 6

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.

Free

Multiple Choice

Q 7Q 7

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.

Free

Multiple Choice

Q 8Q 8

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.

Free

Multiple Choice

Q 9Q 9

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.

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Multiple Choice

Q 10Q 10

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.

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Multiple Choice

Q 11Q 11

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.

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Multiple Choice

Q 12Q 12

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.

Free

Multiple Choice

Q 13Q 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.

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Multiple Choice

Q 14Q 14

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 these choices are true.

Free

Multiple Choice

Q 15Q 15

A model that uses a system of symbols to represent a problem is called
A) mathematical.
B) iconic.
C) analog.
D) constrained.

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Multiple Choice

Free

True False

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True False

Q 18Q 18

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

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True False

Q 19Q 19

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

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True False

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True False

Q 21Q 21

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

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True False

Q 22Q 22

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

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True False

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True False

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True False

Q 25Q 25

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

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True False

Q 26Q 26

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

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True False

Q 27Q 27

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

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True False

Q 28Q 28

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

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True False

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True False

Q 30Q 30

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

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True False

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True False

Q 32Q 32

If you are deciding to buy either machine A, B, or C with the objective of minimizing the sum of labor, material and utility costs, you are dealing with a single-criterion decision.

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True False

Q 33Q 33

Model development should be left to quantitative analysts; the model user's involvement should begin at the implementation stage.

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True False

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True False

Q 35Q 35

A toy train layout designed to represent an actual railyard is an example of an analog model.

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True False

Q 36Q 36

An author has received an advance against royalties of $10,000. The royalty rate is $1.00 for every book sold in the United States, and $1.35 for every book sold outside the United States. Define variables for this problem and write an expression that could be used to calculate the number of books to be sold to cover the advance.

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Essay