Whatmostmotivatesabusinesstobeconcernedwithefficientuseoftheirresources? Resourcesarelimitedandvaluable. Efficientresourceuseincreasesbusinesscosts. Efficientresourcesusemeansmorefreetime. Inefficientresourceusemeanshiringmoreworkers. a ANSWER: Simulation Regression Mathematicalprogramming Discriminantanalysis c ANSWER: Mathematicalprogrammingisreferredtoas optimization. satisficing. approximation. simulation. a ANSWER: Whatarethethreecommonelementsofanoptimizationproblem? objectives,resources,goals. decisions,constraints,anobjective. decisionvariables,profitlevels,costs. decisions,resourcerequirements,aprofitfunction. b ANSWER: Amathematicalprogrammingapplicationemployedbyashippingcompanyismostlikely aproductmixproblem. amanufacturingproblem. aroutingandlogisticsproblem. afinancialplanningproblem. c ANSWER: Whatisthegoalinoptimization? Findthedecisionvariablevaluesthatresultinthebestobjectivefunctionandsatisfyallconstraints.
Whatmostmotivatesabusinesstobeconcernedwithefficientuseoftheirresources? Resourcesarelimitedandvaluable. Efficientresourceuseincreasesbusinesscosts. Efficientresourcesusemeansmorefreetime. Inefficientresourceusemeanshiringmoreworkers. ANSWER: a Simulation Regression Mathematicalprogramming Discriminantanalysis ANSWER: c Mathematicalprogrammingisreferredtoas optimization. satisficing. approximation. simulation. ANSWER: a Whatarethethreecommonelementsofanoptimizationproblem? objectives,resources,goals. decisions,constraints,anobjective. decisionvariables,profitlevels,costs. decisions,resourcerequirements,aprofitfunction. ANSWER: b Amathematicalprogrammingapplicationemployedbyashippingcompanyismostlikely aproductmixproblem. amanufacturingproblem. aroutingandlogisticsproblem. afinancialplanningproblem. ANSWER: c Whatisthegoalinoptimization? Findthedecisionvariablevaluesthatresultinthebestobjectivefunctionandsatisfyallconstraints.
Test-Bank-Spreadsheet-Modeling-and-Decision-Analysis-7th-Edition-Cliff-Ragsdale.docx