ISOM 201

Decision variables are a)controllable b)uncontrollable c)parameters d)constant numerical values associated with any complex problems

a)controllable

An analysis is to determine how much a solution would change if there were changes in the model or the input data is called a)sensitivity or postoptimality analysis b)schematic or iconic analysis c)futurama conditioning d)both b and c

a)sensitivity or postoptimality analysis

An input(such as a variable cost per unit or fixed cost) for a model is an example of a)a decision variable b)a parameter c)an algorithm d) a stochastic variable

b)a parameter

Quantitative analysis is typically associated with the use of a) a schematic model b)physical model c) mathematical model d)scale model

c) mathematical model

In Analyzing a problem, you should normally study a) The qualitative aspects b)The quantitative aspects c)both a and b d)neither a nor b

c)both a and b

The point at which the total revenue equals total cost(meaning zero profit) is called the a)zero-profit solution b)optimal-profit solution c)break-even point d)fixed-cost solution

c)break-even point

Which of the following categories of business analytics involves the use of optimization models? a)descriptive b)predictive c)prescriptive d)none of the above

c)prescriptive

Quantitative Analysis is a)a logical approach to decision making b)a rational approach to decision making c)a scientific approach to decision making d)all of the above

d)all of the above

The term algorithm a)is named after Algorismus b)is named after a ninth century Arabic mathematician c)describes a series of steps or procedures to be repeated d)all of the above

d)all of the above

Sensitivity analysis is typically associated with which step of the quantitative analysis approach a) defining a problem b)acquiring input data c)implementing the results d)analyzing the results

d)analyzing the results