If all the uncontrollable inputs into the decision-making process are known to the decision maker, the model of decision making is known as "stochastic."

Question 1 options:

	True
	False

Question 2 (2 points)

All uncontrollable inputs or data must be specified before we can analyze the model and recommend a decision or solution for the problem.

Question 2 options:

	True
	False

Question 3 (2 points)

The value of making a decision based on models is dependent on how closely the model represents the real situation.

Question 3 options:

	True
	False

Question 4 (2 points)

Management science and operations research both involve

Question 4 options:

	qualitative managerial skills.
	quantitative approaches to decision making.
	operational management skills.
	scientific research as opposed to applications.

Question 5 (2 points)

Decision variables in a production process are those that cannot be controlled by the manager.

Question 5 options:

	True
	False