MGMT 3040
Quiz Chapter 9
Malika McCalla
Name _
Date_03/22_
Motivation Quiz
1
2
3
4
5
B
A
E
D
D
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.
1)
Compensation is the total of all rewards provided employees in return for t
Chapter 1
1.
Body of knowledge:
a.
The body of knowledge involving quantitative
approaches to decision making is referred to as
a.i.
a.ii.
Operations research
a.iii.
b.
Management science
Decision science
It had its early roots in world war 2 and its
flou
Management Science Techniques
1.
Linear Programming:
a.
is a problem solving approach developed for
situation involving maximizing or
minimizing a linear function subjects to
linear constraints that limit the degree to
which the objective can be pursued.
Management Science Techniques Part 2
1.
Waiting line ( for queuing) models
a.
Help managers understand and make better
decisions concerning the operations of
systems involving waiting lines.
b.
Simulation
b.i.
Is a technique used to model the
operation of
Models of cost, Revenue and Profit
1.
Mathematical model:
a.
The total monthly profit = (profit per unit of
Product 1) * (monthly production of
product 1) + ( profit per unit of product 2)
* ) monthly production of product 2) =
= p1x1 + P2X2
2.
We want to
1.
2.
Trial and error solution for production problems
Model Solution
a.
A variety of software packages are available
for solving mathematical models.
b.
What is a Lingo?
b.i.
3.
Its a software packages
Model testing and validation
a.
Often, goodness/ acc
Mathematical Models Class Notes Continue
1.
What are constraints?
a.
Constraints are a set of restrictions or
limitation, such as production capacities.
a.i.
To continue our example, a production
capacity constraint would be
necessary if, for instance, 5
1.
Deterministic Model: if all uncontrollable inputs
to the model are known and cannot vary.
2.
Stochastic (or probabilistic) model: if any
uncontrollable are uncertain and subject to
variation.
a.
Stochastic models are often more difficult to
analyze.
b.
Model development
1.
Models are representation of real objects or situations
a.
Three forms of models are
a.i.
Ionic models: physical replicas (scalar
representations of real objectives.
a.ii.
Analog models: physical in form but do not
physically resemble
Team Charter Project Management (Tuesday)
Group members:
Duration & Time Commitment
The first line of communication outside of class should be email, and then text if need be.
Meeting times outside of class will contingent upon the flexibility of the grou
TEAM CONTRACT
Project Management (Tuesday)
A.
Project Leader:
Commitments
As a project team we will:
1. Only agree to do work that we are qualified and capable of doing.
2. Be honest and realistic in planning and reporting project scope and schedule.
3. O
What is quantitative Analysis and Decision making?
1.
Decision making
a.
Structuring the problem:
a.i.
a.ii.
Identity the alternatives
a.iii.
b.
Define the problem
Determine the criteria
Analyzing the problem
b.i.
b.ii.
c.
Identity the alternatives
Choose
Assignment 1
1. Xr1= # of pounds of input 1 in Regular
Xr2 = # of pounds of input 2 in Regular
Xr1=# of pounds of input 1 in Zesty
Xr2 = # of pounds of input 2 in Zesty
Max.:
1.35(3500)+2.5(4500)-(1.15Xr1+1.15Xr2+1.55Xr1+1.55Xr2+0.12(3500)+0.12(4500)
ST:
Module Two
Chapter 5
Buyers
Person making decisions (consumer decision process) to purchase or no to purchase
Economic needs: affected by income
Psychological variables,
Social influences,
Purchase situation
1.
2.
3.
4.
5.
6.
7.
Final Consumers and their
McCalla 1
Malika McCalla
Professor Jason Gordon
BUSA 2106
28 April 2015
Legal Summary
The legal issue in question starts with a crime and a suspect. Once a crime is committed
the judge will order the suspect to appear in court. If the suspect fails to app
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.086508
R Square 0.007484
Adjusted R 0.006228
Standard E 78966.32
Observatio
5540
ANOVA
df
Regression
Residual
Total
SS
MS
F Significance F
7 2.6E+011 3.7E+010 5.958842 6.28E-007
5532 3.4E+013 6.2E+009
5539
Sensitivity Analysis
When solving an LP model we assume that all
relevant factors are known with certainty.
Such certainty rarely exists.
Sensitivity analysis helps answer questions about
how sensitive the optimal solution is to changes
in various coeffic
Formulating LP Models
1.
2.
Given a problem, first, determine the objective or
goal. Maximize (or minimize) what?
Identify & define the decision variables
(unknowns).
What should they represent and how many do we need?
3.
4.
5.
State the objective as a l
Integer linear programming
When all of the decision variables in an LP must take
only integer values, the resulting model is referred
to as integer linear programming (ILP)
ILP model.
When the model requires both continuous and
integer decision variables,
Management Science
Management Science (a.k.a. analytics)
analytics is the
scientific approach to decision making.
Mgt. Sci. uses mathematical models to make
sound decisions.
The focal point of analysis is the problem and
mathematical (quantitative) mod
Project Management
A project is series of related jobs usually
directed toward some major output and
requiring a significant period of time to perform
Building a bridge
Project Management
The management activities of planning, directing, and
controlling
(1) Cargyle Feeders a supplier of high quality livestock feed produces two types of cattle feed- Nutrina and
Purina. Nutrina is a low calorie product and should consist of no more than 125 calories per pound. Purina is a
high mineral, high vitamin product
Inventory
Inventory is the stock of any item or resource
used in an organization and can include: raw
materials, finished products, component parts,
supplies, and work-in-process
An inventory system is the set of policies and
controls that monitor level