64 Questions
What is the main focus of Chapter 4 in the Decision Support and Business Intelligence Systems book?
Understanding the basic concepts of management support system (MSS) modeling
Which type of analysis does Chapter 4 describe in the Decision Support and Business Intelligence Systems book?
Sensitivity analysis, what-if analysis, and goal seeking
What does the opening vignette in Chapter 4 focus on?
Model-Based Auctions Serving More Lunches in Chile
What is the primary purpose of MSS models interacting with data and users as described in Chapter 4?
To provide decision support for management
Which concept does Chapter 4 explain as a method for solving MSS models?
Optimization, simulation, and heuristics
What is one of the well-known model classes described in Chapter 4?
Linear programming model
What is the key element in most MSS?
Modeling
What does dynamic analysis in decision making evaluate?
Trends and patterns over time
Which company uses several DSS models collectively to support strategic decisions?
Procter & Gamble
What is the purpose of treating certainty, uncertainty, and risk in modeling for MSS?
Forecasting/predicting
What technique aims to find a good enough solution using 'commonsense' rules?
Heuristics
Which type of models aims to find the best solution in one step using a formula?
Optimization via analytic formula
What represents scenarios that change over time and is more realistic than static models?
Dynamic models
What aims to find the best solution from a large number of alternatives using a step-by-step process?
Optimization via algorithm
What aims to find a good enough solution by experimenting with a dynamic model of the system?
Simulation
Linear programming models aim to find the best solution in one step using a formula.
False
Search methods are used to solve MSS models without any differences among algorithms, blind search, and heuristics.
False
Spreadsheets cannot be used for MSS modeling and solution as described in Chapter 4.
False
Static analysis provides a single snapshot of the situation over multiple intervals. (True/False)
False
Dynamic models represent trends and patterns over time, making them less realistic than static models. (True/False)
False
Decision analysis of a few alternatives can be performed using decision tables and decision trees. (True/False)
True
Optimization via mathematical programming always involves finding the best solution in one step using a formula. (True/False)
False
Heuristic programming aims to find a good enough solution by following strict, predefined rules. (True/False)
True
DuPont simulates the Rail Transportation System to increase revenue by incurring capital expenses. (True/False)
False
Fiat and Pillowtex focus on operational efficiency using MSS modeling. (True/False)
True
Multiple models in a MSS can each represent a different part of the decision-making problem. (True/False)
True
Static analysis evaluates scenarios that change over time and are time-dependent. (True/False)
False
MSS modeling leads to increased cost but reduced revenue. (True/False)
False
What is the primary purpose of influence diagrams in MSS modeling?
To visually communicate model relationships
What type of analysis evaluates scenarios that change over time and represents trends and patterns?
Dynamic analysis
What category of models aims to find the best solution from a small number of alternatives?
Decision tables
Which type of models aims to find the best solution in one step using a formula?
inventory models
What is the purpose of treating certainty, uncertainty, and risk in modeling for MSS?
To assess and manage the level of uncertainty and risk
What is the goal of goal-seeking analysis?
To determine the values of inputs needed to achieve a goal
What is the key element in most MSS as mentioned in the text?
Modeling
In heuristic programming, what is the purpose of cuts in the search space?
To get satisfactory solutions more quickly and less expensively
What technique aims to find a good enough solution using 'commonsense' rules?
Heuristic programming
When is heuristic programming used?
All of the above
What is the primary objective of static analysis as described in the text?
To provide a single snapshot of the situation over single intervals
What is the traveling salesman problem?
A problem where a salesman must visit customers in several cities, visiting each city only once, across the country
'DecisionPro' by Vanguard Software Co. supports which type of graphical representation for MSS models?
'Hierarchical' diagrams
What are the major characteristics of simulation?
Imitates reality and captures its richness
Which company uses several DSS models collectively to support strategic decisions as mentioned in the text?
Procter & Gamble
What are the advantages of simulation?
Produces important performance measures
What represents one of the limitations of simulation?
Can guarantee an optimal solution
What is the main focus of Chapter 4 in the Decision Support and Business Intelligence Systems book?
Understanding the basic concepts of management support system (MSS) modeling
What is the purpose of treating certainty, uncertainty, and risk in modeling for MSS?
To ensure that decision-makers consider all possible outcomes
What represents scenarios that change over time and is more realistic than static models?
Dynamic analysis
What does the opening vignette in Chapter 4 focus on?
Model-Based Auctions in Chile
What is one of the well-known model classes described in Chapter 4?
Decision tables
Which type of analysis does Chapter 4 describe in the Decision Support and Business Intelligence Systems book?
Sensitivity analysis
What aims to find a good enough solution by experimenting with a dynamic model of the system?
Heuristic programming
What represents the key element in most MSS?
Interaction with data and users
Fiat and Pillowtex focus on operational efficiency using MSS modeling. (True/False)
True
Spreadsheets cannot be used for MSS modeling and solution as described in Chapter 4. (True/False)
False
What is the main advantage of using a spreadsheet for modeling in MSS?
Seamless integration with databases
What is the primary feature of a dynamic model in MSS?
Capability to represent trends and patterns over time
What is the purpose of decision tables in MSS modeling?
To simplify complex relationships
What does the 'optimistic approach' aim to achieve in decision analysis?
Maximize expected values
Which method is used to solve managerial problems involving resource allocation in MSS?
Linear programming
What are the characteristics of a linear programming (LP) problem?
Linear relationships and limited resources with restrictions
How are linear programming steps represented in the model?
Inputting data into specific cells in Excel or LINDO software
What is the objective of the Product-Mix Linear Programming Model?
Maximize total profit per month
What does the 'Pessimistic approach' aim to achieve in decision analysis?
Minimize expected values
Test your understanding of the basic concepts of management support system (MSS) modeling, interaction of MSS models with data and users, well-known model classes, decision making with a few alternatives, and the use of spreadsheets for MSS modeling and solution. Also, assess your knowledge of the basic concepts of optimization, simulation, and heuristics.
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