BUS 461 WEEK 1 QUIZ II

BUS 461 WEEK 1 QUIZ II
Question 1	The management science team should make certain that management 
is sure of its objective before developing and solving a model.
 	  True
 			  False

				

 	


Question 2.	Question :	Computer programs exist for all standard management science 
solution procedures.
 	  True
 			  False

				

 	


Question 3.	Question :	Management science applications do not include:

 		  simulation.

 			  queuing.

 			  decision analysis.

 		 	  internet programming.



 	


Question 4.	Question :	Mathematical modeling is a process that translates observed or desired phenomena into mathematical expression.

 	 	  True

 			  False



 	


Question 5.	Question :	Which name is most commonly associated with Game Theory?

 	  Andrey A. Markov

 			  E. K. Erlang

 		 	  Jon von Neuman

 			  Karmarkar



 		



Question 6.	Question :	Which executive reaction to your management science solution would suggest the model is invalid?

 		  “We never tried this before.”

 		 	  “This doesn’t make sense to me.”

 			  “We may not have as much money for this as we thought.”

 			  “We’re profitable and have always done things our way.”



 	



Question 7.	Question :	In a business organization, the “80/20” rule relates to:

 		  work accomplished vs. people who perform it.

 		 	  the average input/output ratio of production processes.

 		 	  the value of a “good” problem solution vs. its cost.
 
 			  “key” products vs. product line “fillers.”



 	


Question 8.	Question :	Profit maximization will yield the same result as cost minimization when:

 		  costs and revenues are both variable.

 			  costs are constant.

 		 	  per unit profits are constant.

 		 	  revenues are constant.



 	


Question 9.	Question :	A “model shell” contains:

 		  actual data.

 		 	  generic symbols.

 			  both actual data and generic symbols.

 			  neither actual data nor generic symbols.



 	


Question 10.	Question :	If “necessity is the mother of invention,” management science- mother was probably:

 	 	  World War II.

 			  The electronic computer.

 			  The Great Depression

 			  Linear programming