Identify the choice that best completes the statement or answers the question.
The essence of decision analysis is:
|a. |breaking down complex situations into manageable elements. | |b. |choosing the best course of action among alternatives. | |c. |finding the root cause of why something has gone wrong. | |d. |thinking ahead to avoid negative consequences. |
Why would someone wish to use a spreadsheet model?
|a. |To implement a computer model. | |b. |Because spreadsheets are convenient. | |c. |To analyze decision alternatives. | |d. |All the above. |
Which of the following fields of study is defined in Chapter One as the one that "uses computers, statistics, and mathematics to solve business problems"? |a. |Accounting | |b. |Information systems | |c. |Management science | |d. |Scientific management |
Which of the following statements is true of using models in problem solving and decision analysis? |a. |It is a fairly new idea. | |b. |It is required in order to find good solutions. | |c. |It is something everyone has done before. | |d. |It is tied to the use of computers. |
The textbook figure of the problem solving process is an example of a |a. |mental model. | |b. |prescriptive model. | |c. |graphical model. | |d. |visual model. |
Which of the following is most likely to be used when faced with the decision of how to arrange furniture in a room? |a. |Mathematical model | |b. |Mental model | |c. |Physical model | |d. |Visual model |
To illustrate how a complex system will be built, an engineer will likely use a |a. |Mathematical model | |b....
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