What is the responsibility of the engineer manager in decision-making?

• Only make correct decisions

• Avoid making any decisions

• Correct wrong decisions when identified

• Delegate all decision-making tasks

What is the first step in the rational decision-making process according to David H. Holt?

• Implement decision

• Diagnose problem

• Make a choice

• Evaluate alternatives

What is the purpose of the Quantity Discount Model in decision-making?

• Maximize procurement costs

• Minimize procurement costs

• Minimize production costs

• Maximize production costs

What does the Queuing Theory help in determining?

• Optimal number of customers

• Optimal number of products

• Optimal number of employees

• Optimal number of service units

What is the main purpose of Regression Analysis in decision-making?

• Analyze customer feedback

• Calculate employee salaries

• Predict future stock prices

• Understand relationships between variables

What is the primary goal of the Critical Path Method (CPM) in project management?

• Identify the shortest path

• Identify the longest path

• Identify the non-critical path

• Identify the critical path

What is the purpose of Simulation in engineering management?

• Provide a definitive optimal solution

• Analyze historical data

• Experiment with different inputs and conditions

• Predict future market trends

What is the main focus of Linear Programming in decision-making?

• Balancing linear objective functions

• Maximizing non-linear objective functions

• Minimizing linear objective functions

• Optimizing linear objective functions

What is the purpose of Sampling Theory in data analysis?

• Analyzing all data points

• Selecting a subset of a larger population

• Ignoring data collection

• Predicting future trends

What is the role of Bayesian analysis in decision-making?

• Update beliefs based on new evidence

• Ignore prior knowledge

• Make random decisions

• Avoid decision-making