NEW
Font size
WorksheetsManagement Science Quiz # 1
Total questions: 30
Worksheet time: 35mins
Management science is:
The art of making decisions
The science of managing people
The application of the scientific method to management problems
A set of accounting procedures
Which of the following is NOT a step in the scientific method?
Observation
Problem definition
Intuition
Model construction
Identification and definition of a problem
cannot be done until alternatives are proposed.
is the last step of decision making
is the first step of decision making.
requires consideration of multiple criteria.
A solution that satisfies all the constraints of a problem is called:
Optimal solution
Infeasible solution
Feasible solution
Basic solution
Which of the following is a quantitative technique?
Intuitive decision making
Brainstorming
Linear programming
Qualitative forecasting
When the value of the output cannot be determined even if the value of the controllable input is known, the model is
Analog
Digital
Stochastic
Deterministic
What is the primary goal of management science?
Minimizing cost
Maximizing profit
Optimizing resource allocation
Improving employee satisfaction
The quantitative analysis approach requires
The manager's prior experience with a similar problem
A relatively uncomplicated problem
Mathematical expressions for the relationships
All of the above
Which of the following is NOT a common application area of management science?
Inventory management
Project scheduling
Marketing strategy
Creative writing
Problem definition
Includes specific objectives and operating constraints.
Must occur prior to the quantitative analysis process.
must involve the analyst and the user of the results.
All of the above
Linear Programming - Graphical Method The graphical method is used to solve LP problems with:
Any number of variables
Only two variables
Three or more variables
Integer variables
The feasible region in a graphical LP solution represents:
The set of optimal solutions
The set of points that satisfy all constraints
The set of points that satisfy the objective function
The set of infeasible solutions
Maximization or minimization of a quantity is the
goal of management science
decision for decision analysis
decision for decision analysis
objective of linear programming.
Assumptions are implicit in linear programming problems, except
Proportionality
Adversity
Divisibility
Certainty
Which of the following is NOT a step in the graphical method?
Graphing the constraints
Setting up the simplex tableau
Identifying the feasible region
Finding the optimal solution
In a maximization problem, the objective function line is expressed in
Z = 40x + 50y
Z = 50x + 40y
Z = 50x * 40y
Only Hayabusa knows.
The constraint for the use of cotton textile is expressed as,
x + y ≤ 750
x + 1.5y ≤ 750
1.5x + y ≤ 750
none of the above
The constraint for the use of polyster textile is expressed as,
x + 2y ≤ 1000
2x + y ≤ 1000
2x + 1.5y ≤ 1000
none of the above
How many pants and jackets, respectively should Hanabi make to obtain a maximum sale?
1000 750
250 375
750 1000
375 250
How much is the total contribution margin from based from the optimum solution?
₱27,500.00
₱28,750.00
₱77,500.00
₱80,000.00
The simplex method is used to solve:
Linear programming problems
Integer programming problems
Non-linear programming problems
Dynamic programming problems
In the simplex method, the variables added to convert inequalities into equalities are called:
Slack variables
Surplus variables
Decision variables
Artificial variables
Refers to the nonzero variable in the simplex method
Basic variable
Slack variable
Non-basic variable
All of the above
Corresponds to a corner point of the solution space or feasible region in the graphical method
Basic solution
Slack variable
Surplus variable
Basic variable
What is the purpose of artificial variables?
To convert constraint into an equation
To find an infeasible solution
To improve the objective function value
To represent surplus resources
The purpose of the tableau form is to provide
Infeasible solution.
Optimal infeasible solution
Degenerate solution
Initial basic feasible solution
The assignment of a price to an intangible item for which there is no ready market from which to derive a price.
Shadow pricing
Shadow boxing
Shadow throwing
Shadow fixing
Statement 1: An advantage of Shadow pricing is that it is useful for incremental decisions, when management needs to know the benefit associated with the cost of extending the usage of a resource. Statement 2: A shadow price disadvantage is that it frequently a guess estimate for which there is little proof, especially when it is applied to intangible items.
Both true
Both false
Only Statement 1 is true
Only Statement 2 is true
George Dantzig is important in the history of management science because he developed
the simplex method for linear programming.
the scientific management revolution.
World War II operations research teams
powerful computers
Which of the following are types of solutions in simplex method?
Alternative Solution
Unbounded Solution
Infeasible Solution
All of the above
