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DSIMGTS Updated /187 Questions And Answers Download To Pass!!!
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DSIMGTS Updated 2023-2024 /187 Questions AndAnswers Download To Pass!!!
Quiz :Management Science - Answer :A discipline that aids managerial
decision making through applying scientific approach to managerial problems
that require quantitative factors.
Quiz :Scientific Method Steps - Answer :1. Define the problem and gather
data
2. Formulate a model
3. Develop a computer based procedure to derive solutions for the problem
4. Test the model and refine it as needed
5. Apply the model to analyze the problem and
6. Help to implement the team's recommendations
Quiz :Linear programming - Answer :A mathematical modeling technique
used by businesses to aid in planning and decision making, specifically for
resource allocation.
Quiz :Product mix problem? - Answer :In this problem, LP is used in order to
find the most realistic and practical allocation for 2 or more products that are
produced with limited resources.
Quiz :Three components of the LP Model - Answer :1. Decision Variables
2. Objective Function
3. Constraints
Quiz :Steps in formulating an LP Model - Answer :1. Analyze the problem
given.
2. Identify the decision variables.
3. Use the variables to formulate the objective function and the constraints.
4. State the non - negativity constraint.
Quiz :Excel Solver - Answer :________________________ is used in order to
find the optimal solution.
Quiz :Link - Answer :lines that connect nodes and allow travel in either
direction
, Quiz :Arc - Answer :lines that connect nodes but DO NOT allow travel in either
direction
Quiz :Binary Integer Programming - Answer :A special case of integer linear
programming, wherein variables are binary. (0 or 1)
Quiz :Pure BIP model - Answer :A BIP model wherein the variables are
restricted to binary variables
Quiz :Mixed BIP model - Answer :A BIP model wherein only some variables
are restricted to binary variables
Quiz :Non-Linear Programming? - Answer :the model is a linear programming
model except for having at least one nonlinear formula for an output cell (such
as the objective cell)
Quiz :Decision Analysis? - Answer :It provides a framework that business
leaders could use whenever outcomes to situations become uncertain.
Quiz :Decision Maker - Answer :individual/group responsible for the decision
making
Quiz :Alternatives - Answer :A set of options that the decision maker could
choose from.
Quiz :State of nature - Answer :A possible situation that could arise due to
random factors that aren't controlled by the decision maker
Quiz :Payoff - Answer :The quantitative measure to the consequences of each
outcome.
Quiz :Prior Probability - Answer :The estimated probabilities of the states of
nature prior to obtaining additional information through a test or survey.
Quiz :Maximax Criterion - Answer :This criterion gives an opportunity for the
best possible outcome (the largest payoff in the entire payoff table) to occur
Quiz :Maximin Criterion - Answer :This criterion provides the best possible
protection against being unlucky
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