#### Study sets matching "econimic management science"

#### Study sets matching "econimic management science"

Management science is the

___ is a recognized and established dis…

Management Science is also referred to

The steps of the scientific method are

application of a scientific approach to solving management pro…

Management Science.

operations research, quantitative methods, quantitative analys…

observation, problem definition, model construction, model sol…

Management science is the

application of a scientific approach to solving management pro…

___ is a recognized and established dis…

Management Science.

Uncontrollable Inputs

controllable inputs

Deterministic model

stochastic

environmental factors, which can affect both the objection fun…

are controlled or determined by the decision make are

uncontrollable inputs to model are known and cannot vary

uncontrollable inputs are uncertain and subject to variation

Uncontrollable Inputs

environmental factors, which can affect both the objection fun…

controllable inputs

are controlled or determined by the decision make are

Capacity

Utilization

Measures of Capacity

Output Measures

The maximum rate of output of a process or system

How much of the capacity is currently used

Output and Input measures

use when process has high volume and the firm has a limited nu…

Capacity

The maximum rate of output of a process or system

Utilization

How much of the capacity is currently used

management science

traveling salesman problem

operational/operations research

quantitative management

a discipline that attempts to aid management decision making b…

an NP-hard optimization problem which seeks the minimum distan…

used scientific methods to analyze and solve practical operati…

The application to management of quantitative techniques, such…

management science

a discipline that attempts to aid management decision making b…

traveling salesman problem

an NP-hard optimization problem which seeks the minimum distan…

PROBLEM SOLVING

DECISION MAKING

SINGLE-CRITERION DECISION PROBLEM

MULTICRITERIA DECISION PROBLEM

THE PROCESS OF IDENTIFYING A DIFFERENCE BETWEEN THE ACTUAL AND…

THE PROCESS OF DEFINING THE PROBLEM, IDENTIFYING THE ALTERNATI…

A PROBLEM IN WHICH THE OBJECTIVE IS TO FIND THE "BEST" SOLUTIO…

A PROBLEM THAT INVOLVES MORE THAN ONE CRITERION; THE OBJECTIVE…

PROBLEM SOLVING

THE PROCESS OF IDENTIFYING A DIFFERENCE BETWEEN THE ACTUAL AND…

DECISION MAKING

THE PROCESS OF DEFINING THE PROBLEM, IDENTIFYING THE ALTERNATI…

Managnent science... how many elements/s…

Who developed management science

Operations research developed when

simplex method

Management science is the discipline that attempts to aid mana…

Fredrick Taylor ... operation: TIME and Motion studies - regarding

developed during WWII

...

Managnent science... how many elements/s…

Management science is the discipline that attempts to aid mana…

Who developed management science

Fredrick Taylor ... operation: TIME and Motion studies - regarding

Management Science

Classical Management

Administrative Management

Behavioral Management

The careful, objective study of management decisions and proce…

Management theory that studies the way work is organized and t…

Management theory that identifies the most effective practices…

Management theory directed at organizational improvement throu…

Management Science

The careful, objective study of management decisions and proce…

Classical Management

Management theory that studies the way work is organized and t…

e commorce

e organization

e-businnes

ultarion view of etic

any computer transaction that occurs when data are processed a…

the application of e-businnes consept offered to steakholder

the full breath of activities included in a succesful internet…

making decisions solely on the basis of their outcomes consequ…

e commorce

any computer transaction that occurs when data are processed a…

e organization

the application of e-businnes consept offered to steakholder

Management science is the

___ is a recognized and established dis…

Management Science is also referred to

The steps of the scientific method are

application of a scientific approach to solving management pro…

Management Science.

operations research, quantitative methods, quantitative analys…

observation, problem definition, model construction, model sol…

Management science is the

application of a scientific approach to solving management pro…

___ is a recognized and established dis…

Management Science.

Decision Under Certainty

Decision Node(Point)

Decision Table

Decision Tree

A decision-making environment in which several outcomes or sta…

In a decision tree, this is a point where the best of the avai…

a payoff table

a graphical representation of a decision making situation

Decision Under Certainty

A decision-making environment in which several outcomes or sta…

Decision Node(Point)

In a decision tree, this is a point where the best of the avai…

Management science

Edges (notation)

Vertices (notation)

Degree (even and odd vertices)

using mathmatics to solve management problems, find optimal ke…

Collection of lines connecting vertices which can be straight…

set of dots/points that represent a choice within the graph

The # of edges of choices that are possible from that vertex,…

Management science

using mathmatics to solve management problems, find optimal ke…

Edges (notation)

Collection of lines connecting vertices which can be straight…

Cloud storage area where you can store…

Keyboard shortcut that lets you paste a…

File extension given to Excel workbook…

What must you do to enter a number as a…

SkyDrive

Ctrl+V

.xlsx

Type an apostrophe before the number.

Cloud storage area where you can store…

SkyDrive

Keyboard shortcut that lets you paste a…

Ctrl+V

Capacity

Utilization

Measures of Capacity

Output Measures

The maximum rate of output of a process or system

How much of the capacity is currently used

Output and Input measures

use when process has high volume and the firm has a limited nu…

Capacity

The maximum rate of output of a process or system

Utilization

How much of the capacity is currently used

Zero variability

Variability

Single Channel

Multi-phase

constant flow; no waiting and 100% utilization of service proc…

waiting and less than 100% utilization of service processes

single queue; single server

multiple queues; single server

Zero variability

constant flow; no waiting and 100% utilization of service proc…

Variability

waiting and less than 100% utilization of service processes

Personal Protective Equipment(PPE)

Body Substance Isolation(BSI)

HISTORY

INSPECTION

prevents disease transmission

prevents disease transmission

Most important step; gather information about an injury

Observational

Personal Protective Equipment(PPE)

prevents disease transmission

Body Substance Isolation(BSI)

prevents disease transmission

The Theory of Constraints (TOC)

Constraint

Bottleneck

Capacity planning (long-term)

A systematic management approach that focuses on actively mana…

Any factor that limits the performance of a system and restric…

An output constraint that limits a company's ability to meet m…

Economies and diseconomies of scale... Capacity timing and sizing…

The Theory of Constraints (TOC)

A systematic management approach that focuses on actively mana…

Constraint

Any factor that limits the performance of a system and restric…

Linear function

Linear Programminmg

Slack Variables

Redundant constraint

Mathematical problems where variables are raised to first power

Choosing a course of action using a mathematical model where t…

The variables not maxxed/minned out... at optimal solution determ…

does not affect the feasible solution at all (all its values a…

Linear function

Mathematical problems where variables are raised to first power

Linear Programminmg

Choosing a course of action using a mathematical model where t…

Parameters

A variable is a value that is usually a…

The feasible solution area contains inf…

The objective function always consists…

constant values that are usually coefficients of variables in…

False

True

True

Parameters

constant values that are usually coefficients of variables in…

A variable is a value that is usually a…

False

Problem solving

Problem solving Process (7)

Quantitative Analysis

analyst will concentrate on what during…

the process of identifying a difference between the actual and…

1 identify problem... 2 determine alternative solution... 3 determin…

is based on the manager's judgment and experience; it includes…

on fact/data associated with the problem and develop mathemati…

Problem solving

the process of identifying a difference between the actual and…

Problem solving Process (7)

1 identify problem... 2 determine alternative solution... 3 determin…

waste

municipal solid waste

industrial waste

hazardous waste

any unwanted material or substance from human activity

nonliquid waste that comes from homes, institutions and small…

the waste that comes from the production of consumer goods, mi…

solid or liquid waste that is toxic, chemically reactive, flam…

waste

any unwanted material or substance from human activity

municipal solid waste

nonliquid waste that comes from homes, institutions and small…

linear programming

decision variables

objective function

model constraint

a model that consists of linear relationships representing a f…

mathematical symbols that represent levels of activity by the…

a linear relationship that reflects the objective of an operat…

a linear relationship that represents a restriction on decisio…

linear programming

a model that consists of linear relationships representing a f…

decision variables

mathematical symbols that represent levels of activity by the…

management science

scientific method

management scientist

model

a scientific approach to solving management problems

five steps including observation, problem definition, model co…

a person skilled in the application of management science tech…

an abstract mathematical representation of a problem situation

management science

a scientific approach to solving management problems

scientific method

five steps including observation, problem definition, model co…

Risk Analysis

Parameters

What-if Analysis

Profit Model

Process of predicting the outcome of a decision in the face of…

Constants such as selling price, advertising cost, administrat…

Generating values for the probabilistic inputs and computing t…

Profit = (Selling Price - Cost 1-Cost 2)demand - Fixed Costs

Risk Analysis

Process of predicting the outcome of a decision in the face of…

Parameters

Constants such as selling price, advertising cost, administrat…

States of Nature

Payoff Table

Decision Tree

Decision Making without Probabilities

The possible outcomes for a chance event

A table showing payoffs for all combos of decision alternative…

A graphical representation of the decision-making process

Optimistic Approach... Conservative Approach... Minimax Regret Appro…

States of Nature

The possible outcomes for a chance event

Payoff Table

A table showing payoffs for all combos of decision alternative…