Week 4

Question 1

Simulated data

Answer 1

create a model that can be manipulated logically to determine how the ‘real’ physical world operates
- Fast and cheap

Question 2

Empirical data

Answer 2

‘real’ data
- historical of real time, not future predictions

Question 3

Risks methodological quality in decision science

Answer 3

• Misunderstanding the problem > wrong model
• Quality data input is poor
• Solution is completely not optimal
• Solution is unstable

Question 4

Independent variable

Answer 4

explain the change in the dependent variable

Question 5

Dependent variable

Answer 5

this variable is changed/influenced by the independent variable

Question 6

Moderating variable

Answer 6

this variable changes the strength of a relationship between two variables

Question 7

Mediating variable

Answer 7

this variable ‘transfers’ the effect of one variable to another

Question 8

Evaluating information sources

Answer 8

• Purpose
• Scope
• Authority
• Audience
• Format

Question 9

Process of decision science

Answer 9

1. Problem definition and analysis
2. Model formulation
3. Define a solution procedure
4. Run and analyze the model
5. Present your conclusions