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WorksheetsDECISION MAKING
Total questions: 20
Worksheet time: 7mins
What is the heart of all management functions according to Nickels and others?
A. Decision Making
B. Inventory Models
C. Queuing Theory
D. Network Models
What does the queuing theory describe?
A. Minimizing inventory costs
B. Minimizing customers' waiting time and cost of service
C. Maximizing production efficiency
D. Maximizing profit margins
Which technique is commonly used for decision making under certainty?
A. Decision Trees
B. Linear Programming
C. SWOT Analysis
D. Delphi Technique
What type of problems are characterized by straightforwardness and clear goals?
A. Well-Structured Problems
B. Complex Problems
C. Unstructured Problems
D. Ambiguous Problems
Which approach relies on intuition and subjective judgment?
A. Qualitative Evaluation
B. Quantitative Evaluation
C. Decision Matrix
D. Marginal Analysis
What is the purpose of the Economic Order Quantity Model?
A. To minimize inventory costs
B. To maximize production output
C. To determine service unit requirements
D. To evaluate project timelines
What is the main focus of the Production Order Quantity Model?
A. Minimizing customer wait times
B. Maximizing inventory turnover
C. Balancing production and inventory levels
D. Reducing service costs
What does the Decision Matrix help with?
A. Evaluating project risks
B. Comparing different decision alternatives
C. Calculating inventory levels
D. Analyzing customer feedback
What type of decisions are characterized by familiar problems and complete information?
A. Well-Structured Decisions
B. Unstructured Decisions
C. Programmed Decisions
D. Non-Programmed Decisions
What is the main characteristic of a pessimistic manager's decision-making approach?
A. Maximizing the minimum possible payoff
B. Maximizing the maximum possible payoff
C. Using linear programming
D. Relying on subjective judgment
The Program Evaluation Review Technique (PERT) is a type of inventory model.
True
False
Decision making is the process of identifying and choosing alternative courses of action.
True
False
Quantitative evaluation relies on intuition and subjective judgment.
True
False
The minimax approach focuses on minimizing opportunity loss.
True
False
The Delphi Technique is one of the tools used in decision making.
True
False
The Critical Path Method (CPM) is a tool used in decision making.
True
False
Inventory models help engineer managers make decisions regarding production only.
True
False
Well-structured problems are straightforward and the goal of the decision maker is clear.
True
False
Linear programming is a technique used for decision making under uncertainty.
True
False
Qualitative evaluation relies on rational and analytical techniques.
True
False
