True / False
1. The process of decision making is more limited than that of problem solving.
a. True
b. False
ANSWER: True
POINTS: 1
TOPICS: Problem solving and decision making
2. The terms 'stochastic' and 'deterministic' have the same meaning in quantitative analysis.
a. True
b. 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.
a. True
b. 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.
a. True
b. False
,ANSWER: True
POINTS: 1
TOPICS: Problem solving and decision making
5. The decision making process includes implementation and evaluation of the decision.
a. True
b. 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.
a. True
b. 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.
a. True
b. False
ANSWER: True
POINTS: 1
TOPICS: Model development
8. Uncontrollable inputs are the decision variables for a model.
, a. True
b. False
ANSWER: False
POINTS: 1
TOPICS: Model development
9. The feasible solution is the best solution possible for a mathematical model.
a. True
b. 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.
a. True
b. 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.
a. True
b. 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.
a. True
b. 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.
a. True
b. False
ANSWER: True
POINTS: 1
TOPICS: Quantitative analysis
14. The first step in the decision making process is to identify the problem.
a. True
b. 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.
1. The process of decision making is more limited than that of problem solving.
a. True
b. False
ANSWER: True
POINTS: 1
TOPICS: Problem solving and decision making
2. The terms 'stochastic' and 'deterministic' have the same meaning in quantitative analysis.
a. True
b. 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.
a. True
b. 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.
a. True
b. False
,ANSWER: True
POINTS: 1
TOPICS: Problem solving and decision making
5. The decision making process includes implementation and evaluation of the decision.
a. True
b. 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.
a. True
b. 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.
a. True
b. False
ANSWER: True
POINTS: 1
TOPICS: Model development
8. Uncontrollable inputs are the decision variables for a model.
, a. True
b. False
ANSWER: False
POINTS: 1
TOPICS: Model development
9. The feasible solution is the best solution possible for a mathematical model.
a. True
b. 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.
a. True
b. 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.
a. True
b. 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.
a. True
b. 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.
a. True
b. False
ANSWER: True
POINTS: 1
TOPICS: Quantitative analysis
14. The first step in the decision making process is to identify the problem.
a. True
b. 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.
