OM 3020 Management Science CH 1

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scientific method for attacking problems

1 observation 2 definition of the problem 3 model construction 4 model solution 5 implementation of solution results

Variable

A symbol used to represent an item that can take on any value

management scientist

I'm skilled in the techniques of management science and trained to identify problems who has been hired specifically to solve problems using management science techniques

management science is more than just a collection of techniques what else does it involve

National Science of science also involves a philosophy of approach being a problem in a logical manner example scientific approach The Logical consistent and systematic approach to problem-solving can be useful and valuable as the knowledge of the mechanics of the mathematic techniques themselves

functional relationship

a model is a functional relationship that includes variables parameters and equations

step 3 to management science approach to problem-solving model construction

a model is an abstract mathematical representation of a problem situation

management science

a scientific approach to solving management problems

functional relationship

also called function and relationship a model is a functional relationship that includes variables parameters and equations

model

an abstract mathematical representation of a problem situation

in the new model The Profit equation is fill in the blank

an objective function

parameters

are known consistent values that are often coefficients of the variables in equations

observation step one other management science approach to problem solving

can step one observation you identify a problem that exists within the system!/organization

application of model

consider a business firm sells a product the product cost $5 to produce and sells for 20 the model that computes the total profit that will accrue from items sold in Z = $20x - 5x

Z is a/an fill in the blank

dependent variable

problems are not always the result of the crisis that must be reacted to you but instead fill in the blank

frequently involve and and Kissa paturi or planning situation

management science techniques can be used in the following types of organizations

government military service business and industry and Healthcare

most management science model consists of a set of mathematical relationships but can also come in the form of fill in the blank

graphs or charts

fill in the blank management science techniques are widespread and have frequently been credited with

increasing the efficiency and productivity of business firm

x is a /an fill in the blank

independent variable

application of some personal relationship

let's assume the product is made from Steel and your business has a hundred pounds of it it took cell count of Steel for each unit of product so we can it develop an additional mathematical relationship to represent still usage which is 4x = 100 lb. of steel

to distinguish between the two relationships in this model the book added the following

maximize Z = $20x - 5x subject to 4x = 100 LBS. of Steel

management science is also referred to as

operations research quantitative methods quantitative analysis decision sciences and business Analytics

data

pieces of information from the problem environment

parameters

the numbers 20 and 5 in the total profit model

symbols Z & x =

the variables in the equation

Step2 other management scientific approach to problem solving definition of problem

this is where you clearly and concisely Define the problem and the degree to which approve Aid other units organization

true or false if the model is only add accurate as the data used in constructing the model

true

true or false management science can be used in a variety of organizations to so many different types of problems

true

true or false management science encompasses a logical approach to solving problems

true

he stated objective helps to focus attention on fill in the blank

what's the problem actually is


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