Management science techniques focus primarily on observation, model construction and implementation to find an appropriate solution to a problem

Question 1

Management science techniques focus primarily on observation, model construction and implementation to find an appropriate solution to a problem.

Question 2

In linear programming problems, multiple optimal solutions occur when constraints are parallel to each other.

Question 3

A change in the value of an objective function coefficient will always change the value of the optimal solution.


Question 4

Fractional relationships between variables are not permitted in the standard form of a linear program.

Question 5

In a total integer model, all decision variables have integer solution values.

Question 6

In a transshipment problem, items may be transported from destination to destination and from source to source.


Question 7

The events in an experiment are mutually exclusive if only one can occur at a time.

Question 8

The minimax criterion minimizes the maximum payoff.

Question 9

Excel can be used to simulate systems that can be represented by both discrete and continuous random variables.

Question 10

Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality.

Question 11

Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?

Question 12

If the price decreases but fixed and variable costs do not change, the break even point