economics data bank

SHORT ANSWER

1. Should the problem solving process be applied to all problems?

2. Explain the difference between quantitative and qualitative analysis from the manager's point of view.

3. Explain the relationship among model development, model accuracy, and the ability to obtain a solution from a model.

4. What are three of the management science techniques that practitioners use most frequently? How can the effectiveness of these applications be increased?

5. What steps of the problem solving process are involved in decision making?

6. Give three benefits of model development and an example of each.

7. Explain the relationship between information systems specialists and quantitative analysts in the solution of large mathematical problems.

8. Discuss two developments that occurred during the post-World War II period that led to the growth and use of quantitative methods in nonmilitary applications.

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9. Discuss at least three characteristics of a problem that make it a good candidate for using a quantitative approach to analyze it.