Cengage Learning Testing, Powered by Cognero Page 1

Chapter

• - Introduction

Cengage Learning Testing, Powered by Cognero Page 1 True / False 1.The process of decision making is more limited than that of problem solving.

• True
• False

ANSWER: True

POINTS: 1

TOPICS: Problem solving

and decision making 2.The terms 'stochastic' and 'deterministic' have the same meaning in quantitative analysis.

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Model development

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

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Problem solving

and decision making 4.Problem solving encompasses both the identification of a problem and the action to resolve it.

• True
• False

ANSWER: True

POINTS: 1

TOPICS: Problem solving

and decision making 5.The decision making process includes implementation and evaluation of the decision.

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Problem solving and decision making

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

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Quantitative

analysis 7.The value of any model is that it enables the user to make inferences about the real situation.An Introduction to Management Science Quantitative Approaches to Decision Making 14e David Anderson Dennis Sweeney Thomas Williams (Test Bank All Chapters, 100% Original Verified, A

• Grade) 1 / 4

Chapter 1 - Introduction Cengage Learning Testing, Powered by Cognero Page 2

• True
• False

ANSWER: True

POINTS: 1

TOPICS: Model development

8.Uncontrollable inputs are the decision variables for a model.

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Model development

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

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Model solution

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

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Model development

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

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Introduction

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

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Problem solving and decision making

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

• True
• False 2 / 4

Chapter 1 - Introduction Cengage Learning Testing, Powered by Cognero Page 3

ANSWER: True

POINTS: 1

TOPICS: Quantitative analysis

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

• True
• False

ANSWER: True

POINTS: 1

TOPICS: Introduction

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

• True
• False

ANSWER: True

POINTS: 1

TOPICS: Quantitative analysis

16.In quantitative analysis, the optimal solution is the mathematically-best solution.

• True
• False

ANSWER: True

POINTS: 1

TOPICS: Quantitative analysis

17.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.

• True
• False

ANSWER: True

POINTS: 1

TOPICS: Problem solving and decision making

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

• True
• False

ANSWER: False

POINTS: 1

TOPICS: Problem solving and decision making

19.A feasible solution is one that satisfies at least one of the constraints in the problem.

• True
• False

ANSWER: False 3 / 4

Chapter 1 - Introduction

Cengage Learning Testing, Powered by Cognero Page 4

POINTS: 1

TOPICS: Model solution

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

ANSWER: False

POINTS: 1

TOPICS: Model development

Multiple Choice

• The field of management science
• approaches decision making rationally, with techniques based on the scientific method.
• concentrates on the use of quantitative methods to assist in decision making.
• is another name for decision science and for operations research.
• each of these choices are true.

ANSWER: d

POINTS: 1

TOPICS: Introduction

• Identification and definition of a problem
• is the final step of problem solving.
• cannot be done until alternatives are proposed.
• requires consideration of multiple criteria.
• is the first step of decision making.

ANSWER: d

POINTS: 1

TOPICS: Problem solving and decision making

• Decision alternatives
• should be identified before decision criteria are established.
• are limited to quantitative solutions
• are evaluated as a part of the problem definition stage.
• are best generated by brain-storming.

ANSWER: a

POINTS: 1

TOPICS: Problem solving and decision making

• Decision criteria
• are the ways to evaluate the choices faced by the decision maker.
• are the choices faced by the decision maker.
• must be unique for a problem.
• are the problems faced by the decision maker.

ANSWER: a

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