11)Every LP model has some internal intermed iate variables that are not explicitly stated Answer: TRUE Diff: 2 Page Ref: 340 12)A model builder makes predictions and assumptions regard ing input data, many of which deal with the assessment of certain futures Answer: FALSE Diff: 2 Page Ref: 347 13)Many quantitative models of decision theory are based on comparing a single measure of effectiveness, generally some form of utility to the decision maker Answer TRUE Diff: 2 Page Ref: 346 14)A decision table shows the relationships of the problem graphically and can handle complex situations in a compact form Answer: FALSE Diff: 2 Page Ref: 350-351 15) Decision situations that involve a finite and usually not too large number of alternatives are modeled through an approach called decision analysis Answer: TRUE Diff: 2 Page Ref: 349 16) The pessimistic approach assumes that the worst possible outcome for each alternative will occur and selects the best of these answe Diff: 2 Page Ref: 350-351 17) Simulation is the appearance of reality answe RUE Diff: 1 Page Ref: 352 18)Simulation is normally used only when a problem is too complex to be treated using numerical optimization techniques Answer: TRUE Diff: 2 age Ref: 352 19)Simulations are an experimental, expensive, error-prone method for gaining insight into complex decision-making situations Answer: FALSE Diff: 2 Page Ref: 359 20)VIS uses animated computer graphic displays to present the impact of d ifferent managerial Answer: TRUE Diff: 2 Page Ref: 360 Copyright C 2018 Pearson Education, Inc2 Copyright © 2018 Pearson Education, Inc. 11) Every LP model has some internal intermediate variables that are not explicitly stated. Answer: TRUE Diff: 2 Page Ref: 340 12) A model builder makes predictions and assumptions regarding input data, many of which deal with the assessment of certain futures. Answer: FALSE Diff: 2 Page Ref: 347 13) Many quantitative models of decision theory are based on comparing a single measure of effectiveness, generally some form of utility to the decision maker. Answer: TRUE Diff: 2 Page Ref: 346 14) A decision table shows the relationships of the problem graphically and can handle complex situations in a compact form. Answer: FALSE Diff: 2 Page Ref: 350-351 15) Decision situations that involve a finite and usually not too large number of alternatives are modeled through an approach called decision analysis. Answer: TRUE Diff: 2 Page Ref: 349 16) The pessimistic approach assumes that the worst possible outcome for each alternative will occur and selects the best of these. Answer: TRUE Diff: 2 Page Ref: 350-351 17) Simulation is the appearance of reality. Answer: TRUE Diff: 1 Page Ref: 352 18) Simulation is normally used only when a problem is too complex to be treated using numerical optimization techniques. Answer: TRUE Diff: 2 Page Ref: 352 19) Simulations are an experimental, expensive, error-prone method for gaining insight into complex decision-making situations. Answer: FALSE Diff: 2 Page Ref: 359 20) VIS uses animated computer graphic displays to present the impact of different managerial decisions. Answer: TRUE Diff: 2 Page Ref: 360