Constrained optimization - Study guides, Class notes & Summaries
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OMGT 3223 EXAM 1 || CORRECTLY ANSWERED.
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breakeven analysis: correct answers the sales volume at which revenue covers costs 
 
descriptive model: correct answers -model the behavior of a system 
-calculate measures given a set of inputs or to perform sensitivity analysis 
-EX: simulation models 
 
prescriptive model: correct answers -replicates behavior of system and identifies input values that will help decision maker achieve an objective 
-often built as extensions/enhancements to descriptive model 
-EX: prescribe a solution; optimi...
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HTM 4250 REVENUE MANAGEMENT IN OTHER INDUSTRIES & MULTI UNITS REVENUE MANAGEMENT IN ACTION EXAM QUESTIONS AND ANSWERS
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Goods-producing industries - ANSWER-agriculture ,mining, manufacturing, and construction; each of them creates some kind of tangible object 
 
Service industries - ANSWER-Those businesses that primarily sell their customers intangible goods. 
 
Revenue optimization strategies and tactics can be used any time a service business is characterized by: - ANSWER-•Constrained Supply 
•High Fixed Costs 
•Variable Demand 
•Versioning Opportunities 
•Perishable Inventory 
•Ability to Manage Di...
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(Top 2024/2025 EXAM REVIEW PAPERS / GRADED A+/ 100% Accurate) C176 Project Management Study Set 1, Questions and answers, Graded A+. VERIFIED.
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C176 Project Management Study Set 1, 
Questions and answers, Graded A+. 
VERIFIED. 
Who is ultimately responsible for the project's outcome? 
The project manager 
Steps in validating a project(2) 
1- Validate the business case 
2- Then I.D. and analyze stakeholders. 
Name the traits to define a project. 
1- temporary in nature 
2- delivers a unique: 
2.1 product 
2.2 service 
2.3 or result. 
Who is responsible for developing the project plan? 
The project manager 
What project management func...
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WGU C722 Project Management Latest Update with Verified Solutions
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WGU C722 Project Management Latest Update with Verified Solutions 
A Guide to Project Management Body of Knowledge (PMBOK Guide) The project management standard developed by the Project Management Institute. 
Benefit measurement methods A type of decision model that compares the benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results. 
Co-located When team members work together at the same physical location 
Constrained optimi...
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WGU Project Management exam with complete solutions
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A Guide to Project Management Body of Knowledge (PMBOK Guide) 
The project management standard developed by the Project Management Institute. 
 
 
 
Benefit measurement methods 
A type of decision model that compares the benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results. 
 
 
 
Co-located 
When team members work together at the same physical location 
 
 
 
Constrained optimization models 
Decision models that use comple...
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DSCI Exam 1 2023 with 100% correct answers
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Other names for business decision modeling - correct answer -management science 
-operations research 
-quantitative analysis 
-operations management 
 
constrained mathematical model - correct answer costs of an objective and one or more constraints 
 
classification by the model purpose - correct answer -optimization models 
-prediction models 
 
classification by the degree of certainty of the data in the model - correct answer -deterministic models 
-probabilistic models 
 
BDM Scien...
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WGU C176 Ch. 1| 706 questions| 65 pages| With Complete Solutions
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A Guide to the Project Management Body of Knowledge (PMBOK Guide) Correct Answer: The project management standard developed by the Project Management Institute. 
 
Benefit measurement methods Correct Answer: A type of decision model that compares the benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results. 
 
Constrained optimization models Correct Answer: Decision models that use complex principles of statistics and other ...
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Business Intelligence, Analytics, Data Science, and AI, 5th Edition by Ramesh Sharda, Dursun Delen, Efraim Turban Chapter 8 Prescriptive Analytics: Optimization and Simulation
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Business Intelligence, Analytics, Data Science, and AI, 5th Edition by Ramesh Sharda, Dursun Delen, Efraim Turban 
Chapter 8 Prescriptive Analytics: Optimization and Simulation 
 
1) Modeling can be viewed as a science in its entirety. 
Answer: FALSE 
Diff: 2 Page Ref: 471 
 
2) In the opening vignette, the solution helped to determine how many vendors to award contracts to, as well as the size of each of the contracts. 
Answer: FALSE 
Diff: 2 Page Ref: 473 
 
3) If linear programming ...
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MKTG 372-Supplement B (All Solved Accurately)
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1. In Linear Programming models, what do you want to do with the objective? correct answers c) maximize or minimize 
 
In Linear Programming models, over what quantities do you have control? correct answers decision variables 
 
3. A mathematical model in which one is trying to maximize or minimize some quantity while satisfying a set of constraints is a(n): correct answers c) constrained optimization problem 
 
4. Human intelligence is not needed in which of the following steps of solving optim...
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PROJECT MANAGEMENT FINAL EXAM-68 QUESTIONS AND ANSWERS
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Critical Path Method 
-Originated from Du Pont's 
-Singe task times 
-AON network construction 
-repetitive jobs 
 
 
 
PERT 
-Orginated from US Navy 
-Multiple task time 
-AOA network construction 
-non repetitive jobs 
 
 
 
 
Brainpower 
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schedule performance index .79 
SPI < 1 behind schedule 
SPI = 1 on schedule 
SPI > 1 ahead of schedule 
 
 
 
CPI 
financial efficiency ratio. 
CPI < 1 lack of utilizing resources 
CPI = utilizing 
CPI > 1 a head 
 
 
 
Project crashi...
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