Problem Solving TEST 1 UPDATED
ACTUAL Exam Questions and CORRECT
Answers
7 Steps of Problem Solving - CORRECT ANSWER - 1. Define the problem.
2. Determine the set of alternative solutions.
3. Determine the criteria for evaluating alternatives.
4. Evaluate the alternatives.
5. Choose an alternative (make a decision).
6. Implement the selected alternative.
7. Evaluate the results
5 steps of decision making process - CORRECT ANSWER - 1. Define the problem.
2. Determine the set of alternative solutions.
3. Determine the criteria for evaluating alternatives.
4. Evaluate the alternatives.
5. Choose an alternative (make a decision).
--first five of problem solving
The body of knowledge involving quantitative approaches to decision making is referred to as... -
CORRECT ANSWER - Management Science
Operations Research
Decision Science
Management science came from... - CORRECT ANSWER - WWII at first, but is flourishing
with the numerous methodological developments (e.g. simplex method for solving linear
programming problems)
-virtual explosion in computing power
, single-criterion decision problems. - CORRECT ANSWER - Problems in which the objective
is to find the best solution with respect to one criterion
multicriteria decision problems - CORRECT ANSWER - Problems that involve more than
one criterion
Qualitative Analysis - CORRECT ANSWER - -based largely on the manager's judgment or
"inuitive feel" and experience
-is more of an ART than a science
Quantitative Analysis - CORRECT ANSWER - -analyst will concentrate on the quantitative
facts/data associated with the problem
-develop mathematical expressions that describe the objectives, constraints, and other
relationships that exist in the problem
-use one or more quantitative methods to make a recommendation
4 Reasons for a Quantitative Analysis - CORRECT ANSWER - -The problem is complex.
-The problem is very important.
-The problem is new.
-The problem is repetitive.
Quantitative Analysis Process - CORRECT ANSWER - -Model Development
-Data Preparation
-Model Solution
-Report Generation
Iconic models - CORRECT ANSWER - physical replicas (scalar representations) of real
objects
ACTUAL Exam Questions and CORRECT
Answers
7 Steps of Problem Solving - CORRECT ANSWER - 1. Define the problem.
2. Determine the set of alternative solutions.
3. Determine the criteria for evaluating alternatives.
4. Evaluate the alternatives.
5. Choose an alternative (make a decision).
6. Implement the selected alternative.
7. Evaluate the results
5 steps of decision making process - CORRECT ANSWER - 1. Define the problem.
2. Determine the set of alternative solutions.
3. Determine the criteria for evaluating alternatives.
4. Evaluate the alternatives.
5. Choose an alternative (make a decision).
--first five of problem solving
The body of knowledge involving quantitative approaches to decision making is referred to as... -
CORRECT ANSWER - Management Science
Operations Research
Decision Science
Management science came from... - CORRECT ANSWER - WWII at first, but is flourishing
with the numerous methodological developments (e.g. simplex method for solving linear
programming problems)
-virtual explosion in computing power
, single-criterion decision problems. - CORRECT ANSWER - Problems in which the objective
is to find the best solution with respect to one criterion
multicriteria decision problems - CORRECT ANSWER - Problems that involve more than
one criterion
Qualitative Analysis - CORRECT ANSWER - -based largely on the manager's judgment or
"inuitive feel" and experience
-is more of an ART than a science
Quantitative Analysis - CORRECT ANSWER - -analyst will concentrate on the quantitative
facts/data associated with the problem
-develop mathematical expressions that describe the objectives, constraints, and other
relationships that exist in the problem
-use one or more quantitative methods to make a recommendation
4 Reasons for a Quantitative Analysis - CORRECT ANSWER - -The problem is complex.
-The problem is very important.
-The problem is new.
-The problem is repetitive.
Quantitative Analysis Process - CORRECT ANSWER - -Model Development
-Data Preparation
-Model Solution
-Report Generation
Iconic models - CORRECT ANSWER - physical replicas (scalar representations) of real
objects
