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BSAD 30 Final Exam (Novak) questions and correct answers graded A+
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BSAD 30 Final Exam (Novak) questions and correct answers graded A+
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BSAD 30 Final Exam (Novak)Problem Solving - correct answer ✔✔the process of identifying the difference between actual and
desired states of affairs and then taking actions to resolve the difference
Decision Making - correct answer ✔✔choosing between possible solutions to a problem.
Single Criterion Decision Making - correct answer ✔✔problems in which the objective are used to find
the best solution in respect to one criterion
Multi-criteria Decisions Problems - correct answer ✔✔Problems that require more than one criterion
Structuring the Problem - correct answer ✔✔Define the Problem- Indentify Alternatives- determine
criteria
Analyzing the Problem - correct answer ✔✔evaulate the alternatives- choose the alternative
Quantitate Analysis - correct answer ✔✔is based off of the mangers judgement
Models - correct answer ✔✔Representations of real objexts or situations and can be presentd in various
forms
Constraint - correct answer ✔✔Set of restrictions
Objective Function - correct answer ✔✔Math expression that defines the quantity
Uncontrollable inputs - correct answer ✔✔Such factors that can affect both the objective function and
its constraints
,Controlled Inputs - correct answer ✔✔inputs that are controlled
decision variables - correct answer ✔✔controlable inputs that are the decision alternatives speficied by
the manager flow chart of progress
Deterministic Model - correct answer ✔✔If the uncontrallable inputs are known and can not vary
Optimal solutions - correct answer ✔✔are the inputs that result in the best output
Infeasibile - correct answer ✔✔not capable of being carried out or put into practice
Feasible - correct answer ✔✔If all constraints are meet, the decision alternative is the best silutoon or
the one that is reccommended
The accuracy of a model - correct answer ✔✔cannot be asses until the model situations are generated
Cost - correct answer ✔✔Sum of 2 cost, FC and VC
Fixed Cost - correct answer ✔✔The portion of the total cost that does not depend on the production
value, the cost remains the same no matter how much bullshit it produces
Variable Cost - correct answer ✔✔The portion of the total cost that varies among production
the rate of change of the total cost with respects to the production volume, the cost increases as
production increases by one unit - correct answer ✔✔Marginal Cost
Marginal Revenue - correct answer ✔✔The rate if change of total revenue equaling costs
Linear Programing - correct answer ✔✔is the problem solving appoarch devolped for problems with max
and min
, Integer Linear Programing - correct answer ✔✔approach used for problems that can set up as linear
programs with integer values
Project Mangers - correct answer ✔✔In many situations they are reponsible for cordinating a variety of
seperate jobs
PERT - correct answer ✔✔Program mangement technique that shows how much time each aspect of the
project is consuming
Inventory Models - correct answer ✔✔Used by managers faced with the problem of maintaining a
sufficent inventory to meet the demand for goods, while accruing the lowest inventory cost
Waiting Line Model - correct answer ✔✔Helps managers understand and make better decisions
concerning the operation of systems involving waiting in lines
Simulation - correct answer ✔✔A techqinue that is used tomodel the operations of a complex system
Forecasting - correct answer ✔✔Allows managers to predict the future aspect of business operations
Probability - correct answer ✔✔the numeric likeihood that an event will occur, values for probability are
assigned from 0 to 1
Experiment - correct answer ✔✔Any process that generates a well defined outcome
Sample Space - correct answer ✔✔All possible outcomes of a experiment
Sample Point - correct answer ✔✔Any particular experimental outcome
Classical Method - correct answer ✔✔the assumption of likely outcome is used as a basis for assigning
probability
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