Which of the Following Descriptions of Management Science Applications Is

question 31

Multiple Choice

Which of the following descriptions of management science applications is NOT accurate?

• A) Linear programming is used to help allocate service personnel or workstations to minimise customer waiting time and service cost.
• B) Network models break large tasks into smaller components to allow for better analysis, planning, and control of complex projects.
• C) Simulation makes models of problems so different solutions under various assumptions can be tested.
• D) Inventory modelling helps to establish how much to order and when to order.
• E) Mathematical forecasting helps make future projections that are useful for planning.

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Definitions:

Financial Statements

Condensed reports that detail the financial health of a company, including balance sheet, income statement, and cash flow statement.

Information Symmetry

A situation where all parties involved in a transaction have equal access to all relevant information, leading to fair and efficient market outcomes.

Liquidation Value

The estimated total value of a company's assets if they were sold off immediately, often considered in the context of a business winding down or in bankruptcy.

Sales Value

Sales value represents the total revenue generated from goods or services sold by a company over a specific period.