#### Study sets matching "management science"

#### Study sets matching "management science"

Uncontrollable Inputs

controllable inputs

Deterministic model

stochastic

environmental factors, which can affect both the objection fu…

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 fu…

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 n…

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…

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

used scientific methods to analyze and solve practical operat…

The application to management of quantitative techniques, suc…

management science

a discipline that attempts to aid management decision making…

traveling salesman problem

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

Management science is the

___ is a recognized and established di…

Management Science is also referred to

The steps of the scientific method are

application of a scientific approach to solving management pr…

Management Science.

operations research, quantitative methods, quantitative analy…

observation, problem definition, model construction, model so…

Management science is the

application of a scientific approach to solving management pr…

___ is a recognized and established di…

Management Science.

PROBLEM SOLVING

DECISION MAKING

SINGLE-CRITERION DECISION PROBLEM

MULTICRITERIA DECISION PROBLEM

THE PROCESS OF IDENTIFYING A DIFFERENCE BETWEEN THE ACTUAL AN…

THE PROCESS OF DEFINING THE PROBLEM, IDENTIFYING THE ALTERNAT…

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

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

PROBLEM SOLVING

THE PROCESS OF IDENTIFYING A DIFFERENCE BETWEEN THE ACTUAL AN…

DECISION MAKING

THE PROCESS OF DEFINING THE PROBLEM, IDENTIFYING THE ALTERNAT…

Managnent science... how many elements/…

Who developed management science

Operations research developed when

simplex method

Management science is the discipline that attempts to aid man…

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

developed during WWII

...

Managnent science... how many elements/…

Management science is the discipline that attempts to aid man…

Who developed management science

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

e commorce

e organization

e-businnes

ultarion view of etic

any computer transaction that occurs when data are processed…

the application of e-businnes consept offered to steakholder

the full breath of activities included in a succesful interne…

making decisions solely on the basis of their outcomes conseq…

e commorce

any computer transaction that occurs when data are processed…

e organization

the application of e-businnes consept offered to steakholder

Decision Under Certainty

Decision Node(Point)

Decision Table

Decision Tree

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

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

a payoff table

a graphical representation of a decision making situation

Decision Under Certainty

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

Decision Node(Point)

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

Management science is the

___ is a recognized and established di…

Management Science is also referred to

The steps of the scientific method are

application of a scientific approach to solving management pr…

Management Science.

operations research, quantitative methods, quantitative analy…

observation, problem definition, model construction, model so…

Management science is the

application of a scientific approach to solving management pr…

___ is a recognized and established di…

Management Science.

Management science

Edges (notation)

Vertices (notation)

Degree (even and odd vertices)

using mathmatics to solve management problems, find optimal k…

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 k…

Edges (notation)

Collection of lines connecting vertices which can be straight…

Cloud storage area where you can store…

Keyboard shortcut that lets you paste…

File extension given to Excel workbook…

What must you do to enter a number as…

SkyDrive

Ctrl+V

.xlsx

Type an apostrophe before the number.

Cloud storage area where you can store…

SkyDrive

Keyboard shortcut that lets you paste…

Ctrl+V

Parameters

A variable is a value that is usually…

The feasible solution area contains in…

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…

False

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

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 n…

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 pro…

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 pro…

Variability

waiting and less than 100% utilization of service processes

The Theory of Constraints (TOC)

Constraint

Bottleneck

Capacity planning (long-term)

A systematic management approach that focuses on actively man…

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

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

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

The Theory of Constraints (TOC)

A systematic management approach that focuses on actively man…

Constraint

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

Management Science

Goal of Management Science

MS Steps to Problem Solving

Math models

- adapts scientific approach for problem solving to help mana…

- recommend course of action that is expected to yield best o…

1) Measureable evidence from practice... 2) Quantitative analysi…

- set of math relationships (equations and inequalities)... - co…

Management Science

- adapts scientific approach for problem solving to help mana…

Goal of Management Science

- recommend course of action that is expected to yield best o…

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…

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

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

Linear function

Mathematical problems where variables are raised to first power

Linear Programminmg

Choosing a course of action using a mathematical model where…

management science

scientific method

management scientist

model

a scientific approach to solving management problems

five steps including observation, problem definition, model c…

a person skilled in the application of management science tec…

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 c…

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, m…

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

waste

any unwanted material or substance from human activity

municipal solid waste

nonliquid waste that comes from homes, institutions and small…

Problem solving

Problem solving Process (7)

Quantitative Analysis

analyst will concentrate on what durin…

the process of identifying a difference between the actual an…

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

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

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

Problem solving

the process of identifying a difference between the actual an…

Problem solving Process (7)

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

design capacity

effective capacity

utilization

efficiency

max output rate or service capacity an operation, process, or…

design capacity minus allowances such as personal time and ma…

(actual output/design capacity) x 100%

(actual output/effective capacity) x 100%

design capacity

max output rate or service capacity an operation, process, or…

effective capacity

design capacity minus allowances such as personal time and ma…

Po

Pn

L

Lq

Probability that there are no customers in the system

Probability that there are n customers in the system

Average number of customers in the system

Average number of customers in the queue

Po

Probability that there are no customers in the system

Pn

Probability that there are n customers in the system

Management Science

The Steps of the Scientific Method are:

Management Scientist

Model

a scientific approach to solving management problems - can be…

1. Observation... 2. Problem Definition... 3. Model Construction... 4.…

a person skilled in the application of management science tec…

an abstract mathematical representation of a problem situatio…

Management Science

a scientific approach to solving management problems - can be…

The Steps of the Scientific Method are:

1. Observation... 2. Problem Definition... 3. Model Construction... 4.…

continuous variable

uniform distribution

standard deviation of normal curve

1

can assume any value in an interval on the real line or in a…

probability is proportional to length of the interval

determines the width of the curve

total area under a normal distribution curve

continuous variable

can assume any value in an interval on the real line or in a…

uniform distribution

probability is proportional to length of the interval

Constraints

Objective of a Function

Feasible Region

Infeasibility

Restrictions that limit the degree to which the objective can…

Maximize profit or Minimize Cost

The area which is under each stipulation and satisfies each c…

When no solution to the linear programming problem satisfies…

Constraints

Restrictions that limit the degree to which the objective can…

Objective of a Function

Maximize profit or Minimize Cost

Random Variable

Expected Value

Variance

Standard Deviation

A numeric description of the outcome of an experiment.

For discrete random variables, it is the weighted average of…

A measure used to summarize the variability in the values of…

The positive square root of the variance. σ

Random Variable

A numeric description of the outcome of an experiment.

Expected Value

For discrete random variables, it is the weighted average of…

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 alternativ…

A graphical representation of the decision-making process

Optimistic Approach... Conservative Approach... Minimax Regret Appr…

States of Nature

The possible outcomes for a chance event

Payoff Table

A table showing payoffs for all combos of decision alternativ…

Risk Analysis

Parameters

What-if Analysis

Profit Model

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

Constants such as selling price, advertising cost, administra…

Generating values for the probabilistic inputs and computing…

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

Risk Analysis

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

Parameters

Constants such as selling price, advertising cost, administra…

Fixed Costs

Variable Cost

Total Variable Cost

Total Cost

costs that remain constant regardless of number of units prod…

unit production cost of product

function of volume (v) and unit variable cost

total fixed cost plus total variable cost

Fixed Costs

costs that remain constant regardless of number of units prod…

Variable Cost

unit production cost of product

Problem Solving

Problem Solving Process

Decision Making

Mathematical Models

The process of identifying a difference between the actual an…

1. Identify and define the problem... 2. Determine the set of al…

The first five steps of the problem-solving process. Identify…

A representation of a problem by a system of symbols and math…

Problem Solving

The process of identifying a difference between the actual an…

Problem Solving Process

1. Identify and define the problem... 2. Determine the set of al…

Work in process inventory

Environmentally preferable purchasing(…

stock keeping unit (SKU)

Environmentally preferable purchasing(…

partially finished products in various stages of completion t…

affirmative selection and acquisition of products and service…

single item or asset stored at a particular location

green purchasing for the environment

Work in process inventory

partially finished products in various stages of completion t…

Environmentally preferable purchasing(…

affirmative selection and acquisition of products and service…

Statistics

Population

Sample

Descriptive Statistics

The methodology if extracting useful information from a data…

Consists of all items of interest

Calculated from the sample data and is used to make inference…

Collecting, Organizing, and presenting the data

Statistics

The methodology if extracting useful information from a data…

Population

Consists of all items of interest

Mathematical Programing

The L.P. Model

Steps in Formulating an L.P. Model

Extreme Point Theorem

a field of management science that finds the optimal, or most…

a mathematical technique that will maximize or minimize a lin…

1. Understand the problem.... 2. Identify the decision variable.…

If an optimal solution to a linear programming problem exists…

Mathematical Programing

a field of management science that finds the optimal, or most…

The L.P. Model

a mathematical technique that will maximize or minimize a lin…

Deforestation

World heritage sites

John Wesley Powell

Rafflesia arnoldii

The loss or destruction of forests, mainly for logging or far…

Sites receiving designation from the UN Educational, Scientif…

A U.S. soldier, geologist, and explorer of the American West.…

The world's largest flower with a blossom 3 feet wide. Found…

Deforestation

The loss or destruction of forests, mainly for logging or far…

World heritage sites

Sites receiving designation from the UN Educational, Scientif…

Electronic Waste

Sanitary landfills

Recycling

Waste

This is the fastest growing type of solid waste. Includes TV'…

Disposal sites for non-hazardous solid waste that is spread i…

Collecting and reprocessing a resource or product to make int…

Any unwanted material or substance that results from a human…

Electronic Waste

This is the fastest growing type of solid waste. Includes TV'…

Sanitary landfills

Disposal sites for non-hazardous solid waste that is spread i…

Time-series -

Stationary Data -

Nonstationary Data -

Seasonal Data -

a set of observations on a quantitative variable collected ov…

a time series variable exhibiting no significant upward or d…

a time series variable exhibiting a significant upward or do…

a time series variable exhibiting a repeating patterns at re…

Time-series -

a set of observations on a quantitative variable collected ov…

Stationary Data -

a time series variable exhibiting no significant upward or d…

Decision Analysis

Computer Model

Management Science

Spreadsheet Model

Identifying and evaluating the different possible courses of…

A set of mathematical relationships and logical assumptions i…

A field of study that uses computers, statistics and mathemat…

a type (or special case) of a computer model where a spreadsh…

Decision Analysis

Identifying and evaluating the different possible courses of…

Computer Model

A set of mathematical relationships and logical assumptions i…

Regression analysis

Scatter diagram

Least Squares Method

The R2 Statistic (also called the coef…

- modeling techniques for analyzing the relationship between…

- a graphical toot that helps in determining whether or not t…

- fits a trend line to a set of time series data in which the…

- an easy to interpret goodness-of-fix measure that evaluates…

Regression analysis

- modeling techniques for analyzing the relationship between…

Scatter diagram

- a graphical toot that helps in determining whether or not t…

Alternative

Criteria

States of Nature

Maximax Decision Rule

a course of action intended to solve a problem.

various factors that are important to the decision maker and…

future events that are not under the decision makers control.

--Identify the maximum payoff for each alternative.... --Choose…

Alternative

a course of action intended to solve a problem.

Criteria

various factors that are important to the decision maker and…

network flow problems where Total Supp…

network flow problems where Total Supp…

network flow problems where Total Supp…

when supply is greater than demand

apply this balance of flow rule at each node... Net Flow Supply…

apply this balance of flow rule at each node... Net Flow Supply…

apply this balance of flow rule at each node... All Net Flow =…

In Solver set the Net Flow Supply >= Supply... and set the Net F…

network flow problems where Total Supp…

apply this balance of flow rule at each node... Net Flow Supply…

network flow problems where Total Supp…

apply this balance of flow rule at each node... Net Flow Supply…

Explain how ending inventory in any pe…

Explain how the number of items shippe…

What data in the model was randomly ge…

What excel function is used to generat…

Ending inventory of previous period. Items shipped plus mater…

Either ending inventory from previous period, or, actual sale…

Actual sales order volume

Rand between

Explain how ending inventory in any pe…

Ending inventory of previous period. Items shipped plus mater…

Explain how the number of items shippe…

Either ending inventory from previous period, or, actual sale…

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, m…

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

waste

any unwanted material or substance from human activity

municipal solid waste

nonliquid waste that comes from homes, institutions and small…

Abscessed tooth

Alkalosis

Allergens

Allergic reactions

An infected tooth that causes the patient pain.

An increase in blood alkanility.

Substance that produce allergic reactions.

The overreaction of the body to particular allergens; itching…

Abscessed tooth

An infected tooth that causes the patient pain.

Alkalosis

An increase in blood alkanility.

1. land capability classes ... 2. differe…

four subclasses and what do they mean

equation for USLE

practices to manage erosion

1. roman numerals... 2. first can plant anything, last can't pla…

S= root zone/tillage problems... C=climatic hazard... E=erosion and…

A=R x K x Ls x C x P

conservation tillage, soil cover, diversion ditches, crop rot…

1. land capability classes ... 2. differe…

1. roman numerals... 2. first can plant anything, last can't pla…

four subclasses and what do they mean

S= root zone/tillage problems... C=climatic hazard... E=erosion and…

Quality

ISO 9000

Cost of Quality

Total Quality Management (TQM)

The ability of a product or service to meet customer needs.

A set of quality standards developed by the International Org…

The cost of doing things wrong— that is, the price of nonconf…

Management of an entire organization so that it excels in all…

Quality

The ability of a product or service to meet customer needs.

ISO 9000

A set of quality standards developed by the International Org…

Management Flow Chart

Capacity

Design Capacity

Effective Capacity

Inputs -> Transformation -> Outputs

The upper limit on the load that an operation unit can handle

Max Output Rate or service capacity an operation, process, or…

Design capacity minus allowance such as personal time and mai…

Management Flow Chart

Inputs -> Transformation -> Outputs

Capacity

The upper limit on the load that an operation unit can handle

Management Science

7 Steps of Problem Solving

Characteristics of Quantitative Analysis

Characteristics of Qualitative Analysis

The body of knowledge involving quantitative approaches to de…

Define the Problem, Determine the Set of Alternative Solution…

Analysis will concentrate on data associated with the problem…

An analysis based on manager's judgement/experience, includes…

Management Science

The body of knowledge involving quantitative approaches to de…

7 Steps of Problem Solving

Define the Problem, Determine the Set of Alternative Solution…

Management science

graphs

vertices

notation

uses mathematical methods to find solutions to management pro…

picture or other model used to describe relationships in mana…

set of points that represent a choice in a graph

vertex set

Management science

uses mathematical methods to find solutions to management pro…

graphs

picture or other model used to describe relationships in mana…