MGMT 380 EXAM #1 Question and
answers 100% correct 2025/2026
TRUE - correct answer ✔The process of decision making is more limitied than that of problem solving. T
or F?
FALSE - correct answer ✔The term 'stochastic' and 'deterministic' have the same meaning in
quantitative analysis. T or F?
TRUE - correct answer ✔Problem solving encompasses both the identification of a problem and the
action to resolve it. T or F?
FALSE - correct answer ✔The decision making process includes implementation and evaluation of the
decision. T or F?
TRUE - correct answer ✔The value of any model is that it enables the user to make inferences about
the real situation. T or F?
FALSE - correct answer ✔Uncontrollable inputs are the decision variables for a model. T or F?
FALSE - correct answer ✔The feasible solution is the best solution possible for a mathematical model. T
or F?
FALSE - correct answer ✔A company seeks to maximize profit subject to limited availability of man-
hours. Man-hours is a controllable input. T or F?
FALSE - correct answer ✔To find the choice that provides the highest profit and the fewest employees,
apply a single-criterion decision process. T or F?
, TRUE - correct answer ✔All uncontrollable inputs or data must be specified before we can analyze the
model and recommend a decision or solution for the problem. T or F?
TRUE - correct answer ✔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. T
or F?
d. each of these choices are true - correct answer ✔The field of management science:
a. approaches decision making rationally, with techniques based on the scientific method.
b. concentrates on the use of quantitative methods to assist in decision making.
c. is another name for decision science and for operations research.
d. each of these choices are true.
c. an analog model - correct answer ✔A physical model that does not have the same physical
appearance as the object being modeled is:
a. a qualitative model
b. a mathematical model
c. an analog model
d. an iconic model
b. are uncertain for a stochastic model - correct answer ✔Inputs to a quantitative model:
a. must all be deterministic if the problem is to have a solution.
b. are uncertain for a stochastic model.
c. are a trivial part of the problem solving process.
d. are uncontrollable for the decision variables.
answers 100% correct 2025/2026
TRUE - correct answer ✔The process of decision making is more limitied than that of problem solving. T
or F?
FALSE - correct answer ✔The term 'stochastic' and 'deterministic' have the same meaning in
quantitative analysis. T or F?
TRUE - correct answer ✔Problem solving encompasses both the identification of a problem and the
action to resolve it. T or F?
FALSE - correct answer ✔The decision making process includes implementation and evaluation of the
decision. T or F?
TRUE - correct answer ✔The value of any model is that it enables the user to make inferences about
the real situation. T or F?
FALSE - correct answer ✔Uncontrollable inputs are the decision variables for a model. T or F?
FALSE - correct answer ✔The feasible solution is the best solution possible for a mathematical model. T
or F?
FALSE - correct answer ✔A company seeks to maximize profit subject to limited availability of man-
hours. Man-hours is a controllable input. T or F?
FALSE - correct answer ✔To find the choice that provides the highest profit and the fewest employees,
apply a single-criterion decision process. T or F?
, TRUE - correct answer ✔All uncontrollable inputs or data must be specified before we can analyze the
model and recommend a decision or solution for the problem. T or F?
TRUE - correct answer ✔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. T
or F?
d. each of these choices are true - correct answer ✔The field of management science:
a. approaches decision making rationally, with techniques based on the scientific method.
b. concentrates on the use of quantitative methods to assist in decision making.
c. is another name for decision science and for operations research.
d. each of these choices are true.
c. an analog model - correct answer ✔A physical model that does not have the same physical
appearance as the object being modeled is:
a. a qualitative model
b. a mathematical model
c. an analog model
d. an iconic model
b. are uncertain for a stochastic model - correct answer ✔Inputs to a quantitative model:
a. must all be deterministic if the problem is to have a solution.
b. are uncertain for a stochastic model.
c. are a trivial part of the problem solving process.
d. are uncontrollable for the decision variables.
