Introduction to Management Science

1) Management science involves the philosophy of approaching a problem in a subjective manner.

2) Management science techniques can be applied only to business and military organizations.

3) Management scientists use the terms "data" and "information" interchangeably--that is, the two terms mean the same thing

4) A management science solution can be either a recommended decision or information that helps a manager make a decision

5) A variable is a value that is usually a coefficient of a parameter in an equation.

6) Parameters are known, constant values that are usually coefficients of variables in equations.

7) Data are pieces of information from the problem environment.

8) A model is a mathematical representation of a problem situation including variables, parameters, and equations.

9) A management science technique usually applies to a specific model type.

10) The first step of the management science process is to define the problem.