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Simple Linear Programming
used to optimize resource allocation
Management
coordinating the efforts of people
Top Level Management
responsible for setting strategic direction
Maximin Criterion
maximizing the minimum possible outcome
Decision Tree
The graph use to represent decision problems
Decision Making
selecting the most appropriate course of action
Product Order Quantity Model
calculate the most economical order quantity
Implementation of the decision
chosen alternative is executed
Hurwicz Criterion
optimism and pessimism
Sensitivity Analysis
assesses how changes in input parameters
Forecasting
analyze futre market trends
Controlling
monitoring and adjusting
Graphical Method
visually representing linear constraints
Resource Allocation
describe the constraints
Sensitivity Analysis
des insight into the robustness of the solution
Large and Complex Project
Critical Path Method
Maximax
focus solely on best possible outcomes
Regression Analysis
examining relationship between variables
Note 
Flashcard (35)