LESSON 2

Question 1

A responsibility of the engineer. What ever his choice is, it will have effects in the operations of the organization

Answer 1

Decision Making

Question 2

The process of identifying and choosing alternative options

Answer 2

Decision making

Question 3

Decision Making process

Answer 3

Diagnose problem
Analyze environment
Articulate problem
Develop alternatives
Evaluate alternatives
Make a choice
Implement decision
Evaluate decision results

Question 4

It exist when there is a difference between an actual situation and desired situation

Answer 4

Problem

Question 5

Components of environment

Answer 5

Internal and External

Question 6

Refers to the organization activities within a firm

Answer 6

Internal environment

Question 7

Refers to variables that are outside the organization and not within the control of the firm

Answer 7

External Environment

Question 8

The process of selecting among alternatives representing potenti solutions to a problem

Answer 8

Choice Making

Question 9

Refers to carrying out the decision so that the objectives sought will be achieved

Answer 9

Implementation

Question 10

Refers to the process which requires assuring the alternatives used are in keepin with the goals if the firm

Answer 10

Feedback

Question 11

Refers to actions made to ensure that activities performed matched the desired goal

Answer 11

Control

Question 12

Approaches in solving problems

Answer 12

Qualitative and Quantitative Evaluation

Question 13

Refers to evaluation of alternatives using intuition

Answer 13

Qualitative Evaluation

Question 14

Refers to the evaluation of alternatives using any techniques rational and analytic

Answer 14

Quantitative evaluation

Question 15

Types of Quantitative Evaluation

Answer 15

Inventory model
Queuing theory
Network model
Forecasting
Regression
Simulation
Linear programming
Statistic decision

Question 16

This one is used to calculate number of items ordered one at a time

Answer 16

Economic order quantity model

Question 17

An economic order quantity technique alllied in production order

Answer 17

Production order quantity model

Question 18

Inventory model for planned shortage

Answer 18

Back order inventory model

Question 19

Model used to minimize total cost when discounts are offered

Answer 19

Quantity Discount model

Question 20

It describes the number of service units that will minimize waiting time

Answer 20

Queuing Theory

Question 21

A technique enables managers to schedule, monitor and control large projects

Answer 21

Program Evaluation Review Technique
PERT

Question 22

Technique using one time factor per activity

Answer 22

Critical Path Method
CPM

Question 23

Collecting of past and current information to make predictions

Answer 23

Forecasting

Question 24

Forecasting method that examines the association of 2 or more variables

Answer 24

Regression Analysis

Question 25

Model constructed to represent reality

Answer 25

Simulation

Question 26

Quantitative technique used to produce a solution within the bounds imposed by constraints

Answer 26

Linear Programming

Question 27

Quantitative technique where sample of populations are determined to be used for a number of processes

Answer 27

Sampling Theory

Question 28

Rational way to conceptualize and solve problems involving limited information

Answer 28

Statistical Decision Theory

Question 29

To revise and update initial assessments of events probabilities

Answer 29

Bayesian Analysis