One way of creating the graph would be to use the equations from the EMV of each
_____ and plot them.
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decision
What variable(s) represents variable costs?
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VC
What variable(s) represents profit?
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pi
Solver will display the message that "Solver could not find a feasible solution" if an
_____ solution is determined.
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infeasible
What type of decision takes a significant amount of time and has high consequence
for an incorrect decision?
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tactical decision
Solver will display the message "cell values do not converge" is an _____ solution is
found.
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unbounded
What does EMV mean?
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expected monetary value
What "pure strategy" displays a competitive behavior?
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minimax regret
(fixed costs + variable costs) * quantity
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costs
Which pure strategy criteria does the following statements describe:
"I make a decision and the worst outcome always occurs."
"I make a decision and nature is out to get me."
"Poor me."
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maximin
, What type of decision is this:
forecasting product production
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business tactical
_____ and _____ models are used to do sensitivity analysis or "what-if" analysis.
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breakeven; indifferences
What are the 4 types of mathematical models?
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1. linear programming
2. non-linear programming
3. integer programming
4. non-linear integer programming
The objective function and the constraints can either be _____ (straight line) or _____-_____
(curved).
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_____ and plot them.
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decision
What variable(s) represents variable costs?
Give this one a try later!
VC
What variable(s) represents profit?
,Give this one a try later!
pi
Solver will display the message that "Solver could not find a feasible solution" if an
_____ solution is determined.
Give this one a try later!
infeasible
What type of decision takes a significant amount of time and has high consequence
for an incorrect decision?
Give this one a try later!
tactical decision
Solver will display the message "cell values do not converge" is an _____ solution is
found.
Give this one a try later!
unbounded
What does EMV mean?
,Give this one a try later!
expected monetary value
What "pure strategy" displays a competitive behavior?
Give this one a try later!
minimax regret
(fixed costs + variable costs) * quantity
Give this one a try later!
costs
Which pure strategy criteria does the following statements describe:
"I make a decision and the worst outcome always occurs."
"I make a decision and nature is out to get me."
"Poor me."
Give this one a try later!
maximin
, What type of decision is this:
forecasting product production
Give this one a try later!
business tactical
_____ and _____ models are used to do sensitivity analysis or "what-if" analysis.
Give this one a try later!
breakeven; indifferences
What are the 4 types of mathematical models?
Give this one a try later!
1. linear programming
2. non-linear programming
3. integer programming
4. non-linear integer programming
The objective function and the constraints can either be _____ (straight line) or _____-_____
(curved).
Give this one a try later!
