Identify the choice that best completes the statement or answers the question.
B 1. 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. |
C 2. 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. |
C 3. 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 |
C 4. Which of the following statements is true of using models