Management Science
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Course Introduction
Management Science is a discipline that applies quantitative and analytical methods to solve complex organizational problems and aid in decision-making. The course covers topics such as linear programming, decision analysis, simulation, forecasting, inventory management, and network models. Students will learn to develop models and use computer-based techniques to analyze business scenarios, optimize resource allocation, and improve overall operational efficiency. Emphasizing problem-solving and critical thinking, the course prepares students to address real-world management challenges with data-driven solutions.
Recommended Textbook
Introduction to Management Science A Modeling and Case Studies Approach With Spreadsheets
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1066 Verified Questions
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Page 2
Chapter 1: Introduction
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Sample Questions
Q1) Which of the following is a mathematical expression that gives the measure of performance for the problem?
A)Decision variable.
B)Parameter.
C)Objective function.
D)Constraint.
E)None of the above.
Answer: C
Q2) Management science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors.
A)True
B)False
Answer: True
Q3) Sensitivity analysis is used to check the effect of changes in the model.
Multiple Choice Questions
A)True
B)False
Answer: True
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Page 3
Chapter 2: Linear Programming: Basic Concepts
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Sample Questions
Q1) Which objective function has the same slope as this one: 4x + 2y = 20.
A)2x + 4y = 20.
B)2x - 4y = 20.
C)4x - 2y = 20.
D)8x + 8y = 20.
E)4x + 2y = 10.
Answer: E
Q2) Where are the data cells located?
A)B2:C2.
B)B2:C2,B5:C7,and F5:F7.
C)B10:C10.
D)F10.
E)None of the above.
Answer: B
Q3) The graphical method can handle problems that involve any number of decision variables.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Linear Programming: Formulation and Applications
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Sample Questions
Q1) A transportation problem requires a unit cost for every source-destination combination.
A)True
B)False
Answer: True
Q2) When formulating a transportation problem on a spreadsheet,which of the following are necessary?
A)A table of data.
B)A network representation.
C)A table for the solution.
D)a and c only.
E)All of the above.
Answer: D
Q3) Applications of assignment problems may include:
A)matching personnel to jobs.
B)assigning machines to tasks.
C)designing bussing routes.
D)a and b only.
E)All of the above.
Answer: E
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Chapter 4: The Art of Modeling With Spreadsheets
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Sample Questions
Q1) An absolute reference does not change when it is filled or copied into other cells.
A)True
B)False
Q2) Once the data is entered,it should never be moved.
A)True
B)False
Q3) How many cells should be used to represent each constraint?
A)0
B)1
Q4) When a number is needed in an output cell,is should typically be entered there directly.
A)True
B)False
Q5) Data should be repeated within every output cell as needed.
A)True B)False
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Chapter 5: What-If Analysis for Linear Programming
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Sample Questions
Q1) It is usually quite easy to find the needed data for a linear programming study.
A)True
B)False
Q2) What is entered as the column input cell in the Solver Table dialogue box?
A)B2
B)B8
C)F5
D)F8
E)It is left blank.
Q3) What is the allowable range for changes in the right-hand-side for Resource C?
A)18 \(\le\) RHS<sub>c</sub> \(\le\) \(\infty\).
B)\(\infty\) \(\le\) RHS<sub>c</sub> \(\le\) 62.
C)-2 \(\le\) RHS<sub>c</sub> \(\le\) \(\infty\).
D)-\(\infty\) \(\le\) RHS<sub>c</sub> \(\le\) 40.
E)0 \(\le\) RHS<sub>c</sub> \(\le\) 22.
Q4) Shadow price analysis is widely used to help management find the best trade-off between costs and benefits for a problem.
A)True
B)False
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Chapter 6: Network Optimization Problems
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Sample Questions
Q1) All network optimization problems actually are special types of linear programming problems.
A)True
B)False
Q2) Which of the following problems are special types of minimum cost flow problems?
I.Transportation problems.
II.Assignment problems.
III.Transshipment problems.
IV.Shortest path problems.
A)I and II only.
B)I,II,and III only.
C)IV only.
D)I,II,III,and IV.
E)None of the above.
Q3) When reformulating a shortest path problem as a minimum cost flow problem,each link should be replaced by a pair of arcs pointing in opposite directions.
Multiple Choice Questions
A)True
B)False
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Page 8
Chapter 7: Using Binary Integer Programming to Deal With
Yes-Or-No Decisions
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Sample Questions
Q1) Which of the following techniques or tools can be used to perform sensitivity analysis for an integer programming problem?
A)The sensitivity report.
B)Trial-and-error.
C)Solver Table.
D)All of the above.
E)b and c only.
Q2) Binary variables are variables whose only possible values are 0 or 1.
A)True
B)False
Q3) In a BIP problem with 3 mutually exclusive alternatives,x<sub>1</sub>,x<sub>2</sub>,and x<sub>3</sub>,the following constraint needs to be added to the formulation:
A)x<sub>1</sub> + x<sub>2</sub> +x<sub>3</sub> \(\le\) 1.
B)x<sub>1</sub> + x<sub>2</sub> +x<sub>3</sub> = 1.
C)x<sub>1</sub> - x<sub>2</sub> -x<sub>3</sub> \(\le\) 1.
D)x<sub>1</sub> - x<sub>2</sub> -x<sub>3</sub>= 1.
E)None of the above.
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Chapter 8: Nonlinear Programming
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Sample Questions
Q1) The requirement that each term in the objective function only contains a single variable is in a linear program is referred to as:
A)the proportionality assumption.
B)the divisibility assumption.
C)the additivity assumption.
D)a nonlinear function.
E)None of the above.
Q2) When the marginal return from an activity decreases on a continuous basis,the profit graphs will consist of a series of line segments.
A)True
B)False
Q3) Sometimes the Solver can return different solutions when optimizing a nonlinear programming problem.
A)True
B)False
Q4) Evolutionary Solver uses an algorithm based on genetics,evolution,and survival of the fittest.
A)True B)False
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Chapter 9: Decision Analysis
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Sample Questions
Q1) What is the unconditional probability that the research predicts S1?
A)0.32.
B)0.4.
C)0.44.
D)0.56.
E)0.6.
Q2) Prior probabilities refer to the relative likelihood of possible states of nature.
A)True
B)False
Q3) The Bayes' decision rule strategy is:
A)small.
B)medium.
C)medium large.
D)large.
E)extra large.
Q4) Bayes' decision rule says to choose the alternative with the largest expected payoff. A)True
B)False
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11
Chapter 10: Cd Supplement - Decision Analysis
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Sample Questions
Q1) The realism strategy with a pessimism-optimism index of 0.5 is:
A)small.
B)medium.
C)medium large.
D)large.
E)extra large.
Q2) Determining the worst payoff for each alternative and choosing the alternative with the "best worst" is the criterion called: A)minimin.
B)maximin.
C)maximax.
D)maximum likelihood.
E)Bayes decision rule.
Q3) The minimax regret strategy is: A)Buy.
B)Rent.
C)Lease.
D)High.
E)Low.
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Page 12
Chapter 11: Forecasting
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Sample Questions
Q1) What is the forecast for this year using a moving-average forecast based on the last three weeks?
A)49.
B)50.
C)52.
D)65.
E)78.
Q2) A smoothing constant of 0.1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0.3 will.
A)True
B)False
Q3) Causal forecasting obtains a forecast for a dependent variable by relating it directly to one or more independent variables.
A)True
B)False
Q4) Once accepted by managers,forecasts should not be overridden.
A)True
B)False
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Page 13
Chapter 12: Queueing Models
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Sample Questions
Q1) On average,how many parties of truckers are waiting to be seated?
A)0.27.
B)0.52.
C)0.88.
D)1.36.
E)1.75.
Q2) Applying nonpreemptive priorities improves the measures of performance in the top priority class even more than applying preemptive priorities.
A)True
B)False
Q3) A system has one service facility that can service 10 customers per hour.The customers arrive at an average rate of 6 per hour.In this case,no waiting line will form.
A)True
B)False
Q4) In a nonpreemptive priority system,customers are served in the order in which they arrive in the queue.
A)True
B)False
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Page 14
Chapter 13: CD Supplement - Additional Queueing Models
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Sample Questions
Q1) The finite calling population queueing model is appropriate when the potential calling population is relatively small.
A)True
B)False
Q2) The Erlang distribution with k = 4 has higher variability than the Erlang distribution with k = 2.
Multiple Choice Questions
A)True
B)False
Q3) Rank the exponential,degenerate,Erlang (k = 2),and Erlang (k = 4)distributions from highest to lowest variability,given the same mean.
A)degenerate,Erlang (k = 2),Erlang (k = 4),exponential.
B)degenerate,Erlang (k = 4),Erlang (k = 2),exponential.
C)exponential,Erlang (k = 2),Erlang (k = 4),degenerate.
D)exponential,Erlang (k = 4),Erlang (k = 2),degenerate.
E)none of the above.
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Chapter 14: Computer Simulation: Basic Concepts
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Sample Questions
Q1) Simulation is often the first choice of decision makers instead of analytic models.
A)True
B)False
Q2) Managers can use simulation to obtain optimal answers for a wide range of problems.
A)True
B)False
Q3) If a simulation begins with the first random number,the second simulated value would be:
A)0.
B)1.
C)2.
D)3.
E)4.
Q4) Simulation is basically an optimizing technique.
A)True
B)False
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Page 16
Chapter 15: CD Supplement - the Inverse Transformation
Method for Generating Random Observations
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Sample Questions
Q1) Excel's RAND()function is designed specifically for applying the inverse transformation method to any discreet probability distribution.
A)True
B)False
Q2) The inverse transformation method can be used to generate random observations from a probability distribution.
A)True
B)False
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Chapter 16: Computer Simulation With Crystal Ball
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Sample Questions
Q1) The number of trials is one of the options to be set in the Run Preferences for Crystal Ball.
A)True
B)False
Q2) A distribution is chosen from the Distribution Gallery for which type of cell?
A)An assumption cell.
B)A decision variable.
C)A forecast cell.
D)An output cell.
E)None of the above.
Q3) Which of the following distributions describes the number of trials until an event occurs?
A)Binomial distribution.
B)Geometric distribution.
C)Negative binomial distribution.
D)Poisson distribution.
E)None of the above.
Q4) Crystal Ball can be used to fit a continuous distribution to data.
A)True
B)False
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Chapter 17: CD - Solution Concepts for Linear Programming
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Sample Questions
Q1) The simplex method is an algorithm that can be used for solving only large-scale problems.
A)True
B)False
Q2) A linear programming problem may have: I.no optimal solutions.
II)exactly one optimal solution.
III)as many optimal solutions as there are decision variables.
IV)an infinite number of optimal solutions.
A)II and IV only.
B)II and III only.
C)I,II,and III only.
D)I,II,and IV only.
E)All of the above.
Q3) When choosing which corner point to advance to next,the simplex method chooses the one:
A)that is closest.
B)along the edge with the largest rate of improvement.
C)along the edge with a negative rate of improvement.
D)that is furthest from the origin.
E)None of the above.
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Chapter 18: CD - Transportation and Assignment Problems
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Sample Questions
Q1) In an assignment problem,every destination has a demand of 0 or 1.
A)True
B)False
Q2) Which of the following can be used to solve transportation problems?
A)The simplex method.
B)The transportation simplex method.
C)The network simplex method.
D)All of the above.
E)None of the above.
Q3) Transportation problems are a special type of distribution-network problem.
A)True
B)False
Q4) Which of the following is not an assumption of assignment problems?
A)The number of assignees and the number of tasks are the same
B)The objective is to minimize the number of assignments not made.
C)Each task is to be performed by exactly one assignee.
D)There is a cost associated with each combination of an assignee performing a task,
E)Each assignee is to be assigned exactly one task.
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20
Chapter 19: CD - Pertcpm Models for Project Management
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Sample Questions
Q1) The latest starting time for an activity is equal to the latest finish time minus the duration of the activity.
A)True
B)False
Q2) The slack of an activity is the difference between the latest finish and the earliest finish times.
A)True B)False
Q3) What is the estimated mean time for project completion?
A)135 days.
B)145 days.
C)170 days.
D)180 days.
E)255 days.
Q4) At which point does crashing of a project cease?
A)When the project is completed.
B)When no additional crashing is possible.
C)When the cost to crash equals or exceeds the benefit of crashing.
D)All of the above.
E)None of the above.
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Chapter 20: CD - Goal Programming
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Sample Questions
Q1) Goal programming provides a way to identify the most important goal and achieve it.
A)True
B)False
Q2) Goal programming can be used to handle problems with how many different objectives or goals?
A)1
B)2
C)3
D)4
E)Any number of objectives or goals.
Q3) In preemptive goal programming,the goals are ranked from most important to least important.
A)True
B)False
Q4) A goal programming formulation includes changing cells to measure the amount over and under each goal.
A)True
B)False
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Chapter 21: CD - Inventory Management With Known Demand
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Sample Questions
Q1) Interest,insurance,and opportunity costs are all associated with holding costs.
A)True
B)False
Q2) If the manager was to order 16 cases of beer at a time,what would be the average inventory level?
A)4 cases.
B)8 cases.
C)12 cases.
D)16 cases.
E)20 cases.
Q3) Which of the following products would be most likely to have dependent demand?
A)Refrigerators.
B)Car engines.
C)TVs.
D)Brownies.
E)None of the above.
Q4) If the cost of holding inventory is high relative to shortage costs,then allowing shortages may be a good policy.
A)True
B)False
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Chapter 22: CD - Inventory Management With Uncertain Demand
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Sample Questions
Q1) A multiechelon inventory system is a system with multiple echelons of inventory where each echelon is used to replenish the inventories at the various sites of the next lower echelon.
A)True
B)False
Q2) The goal of the perishable product model is to identify the order quantity that will minimize the shortage costs.
A)True
B)False
Q3) In a perishable products model,if shortage and excess costs are equal,then the optimum service level is:
A)0.
B)0.33.
C)0.5.
D)0.67.
E)1.
Q4) The rate of demand is an important factor in determining the reorder point. A)True B)False
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