What step of the bullet proof problem solving helps avoid making common decision-making biases? - Answer-Step 4: Build a work plan and time table
Primary focus of managerial skills in 1970's - Answer-Focus on strategy
Problem solving technique used for prioritization - Answer-Pruning
Steps...
WPC 300 Exam Questions with Correct
Answers
What step of the bullet proof problem solving helps avoid making common decision-
making biases? - Answer-Step 4: Build a work plan and time table
Primary focus of managerial skills in 1970's - Answer-Focus on strategy
Problem solving technique used for prioritization - Answer-Pruning
Steps of Bullet Proof Problem Solving - Answer-Define problem, Disaggregate,
Prioritize, workplan, analyze, synthesize, communicate
Five Whys Technique - Answer-A form of root cause analysis popularized at Toyota
where the question "why?" is asked five successive times, each time looking one level
deeper at the underlying problem
Probability of an observation that lies bt range of -1 < x < 1. Between one standard
deviations in a normal distribution - Answer-68%
Logic trees should be - Answer-mutually exclusive and collectively exhaustive
Pruning process - Answer-remove the elements that are only a minor influence
Multidimension Analysis: Slicing - Answer-Keep one dimesion constant and analysing
two dimensions of a cube
Poiison Distribution applied for - Answer-Discrete random variable
Measures in multi-dimensional - Answer-Revenue, quantity, cost of goods sold
Inductive logic tree - Answer-subelements on the left and problem statements on the far
right
Deductive logic tree - Answer-subelements on the right and the problem statement on
the far left
, Good problem statements - Answer-address decision-maker's values, structured to
allow sufficient scope for creativity, specific and measureable
PDSA - Answer-Plan, Do, Study, Act
DMAIC - Answer-Core tool in six sigma project. Used to improve processes and quality
Design thinking - Answer-ID need, empathize, define, ideate (brainstorm), form
hypothesis, build, prototype, deliver
Problem Worksheet - Answer--Problem statement
-List decision makers
-Criteria/measures for success
-Key forces acting on decision making
-Time frame for resolution
-Boundaries/restraints
-What amount of accuracy is necessary
Porpoising - Answer-set up dialogue to answer questions & revise & repeat.
Sharpen prob statements
Dimensions - Answer-product, time period, geographical areas
Measures - Answer-quantitative data analyzed across dimensions.
Ex.) Revenue, quantity, cost of goods sold
Cubes - Answer-Made up of cells organized by dimensions and contain measures
MDA: Dice - Answer-Subset of a cube. All 3 dimensions but you only pick a few
measures
MDA: Pivot - Answer-Rotate current view of data
MDA: Drill-down - Answer-Moving from aggregate data to granular data (hierarchy)
MDA: Roll-up - Answer-Moving from granular to aggregate data. Lower to higher in
hierarchy
Decision Tree - Answer-Cascading if-then statements
mutually exclusive - Answer-Events that cannot occur at the same time.
Collectively Exhaustive - Answer-at least one of the events must occur when an
experiment is conducted
Salmon Logic Tree - Answer-The influencing factors were too small and were pruned.
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