Make a decision with Criterion of Realism method using the information in the Table. (The objective is minimization.)
Doğru Cevap!
Yanlış Cevap!
Doğru Cevap: E) Product 5 with 7.6 days
In the maximization models, the objective function is alternatively named profit function. In the maximization models the value of Z needs to be increased as much as possible. A finite number of iso-profit lines can be drawn for increasing values of Z. Under the constraints of the model, the highest possible value of Z must reside in the feasible region. Which of the statements above about the maximization models are correct?
Doğru Cevap: D) I, II and IV
What is the process of choosing the most appropriate one of the alternatives?
Doğru Cevap: A) Decision making
Make a decision with method of Minimax Regret using the information in the Table. (The objective is minimization.)
Doğru Cevap: E) Product 5 = maximum regret = 3 days
"The method used for the loss of opportunities when the best alternative is not selected is _______ ." Fill in the blank.
Doğru Cevap: B) Minimax Regret
Which of the following is not a common characteristics of decision making?
Doğru Cevap: B) Scarce source
E1, E2, and E3 show the events and A1, A2, A3, A4, and A5 show the alternatives. The cost values of each event are given in the following table. Which is the most appropriate decision according to the Criterion of Realism? (Alpha is 0.60)
Doğru Cevap: A) A1
A decision tree is a graphical approach that helps decision-makers see _________ they may encounter. Which option below completes the sentence above best?
Doğru Cevap: A) all the scenarios
Which of the following describes when the expected value criterion is commonly used in decision making at risk?
Doğru Cevap: A) when comparing alternatives that involve money
Which of the following assumptions casts out any variable that has an exponent other than 1?
Doğru Cevap: A) Proportionality
What is an anticipated value for a given investment at some point in the future called?
Doğru Cevap: A) Expected value
What is it called when the decision have information about the probabilities of occurrence of the event?
Doğru Cevap: B) Decision making under risk
Decision Making Under Certainty Decision Making Under Control Decision Making Under Risk Decision Making Under Uncertainty Which of the above are types of decision making environments?
Doğru Cevap: B) I, III and IV
In which method the best outcome for each alternative is realised and decision maker select the best among these alternatives?
Doğru Cevap: B) Plunger
A food company is considering to establish a logistics company to manage its own logistics operations. On the other hand, the company has no experience and knowledge in the field of logistics. At this point, which of the following is the type of the decision environment that defines this situation?
Doğru Cevap: C) Decision making under uncertainty
Which of the below are not among the common characteristics of decision making?
Doğru Cevap: D) Scarce source
What is the decision situation in which the decision maker knows the probability of occurrence of each state of nature?
Doğru Cevap: E) Decision making under risk
How are decision situations in which the chance of occurrence of each state of nature is known or can be estimated defined?
Doğru Cevap: D) Stochastic decision problems
The modeling phase is the transformation of verbal description of the problem into a mathematical model under the linear programming assumptions. Mathematical model is a system of equations and inequalities representing the objective and the constraints. The decision to be derived from the model is related to quantifiable variables that are in control. The variables of decision x 1 , x 2 , ... , x n are called the parameters. The constants (i.e. the coefficients and right-hand side values of the inequalities) are called the decision variables. Which of the statements above about modeling with linear programming are correct?
Doğru Cevap: C) I, II and III
In which decision making environment, the decision maker has information about the probability of occurrence of each event?
Doğru Cevap: C) Decision making under risk