Question

In: Accounting

Describe the general model of problem solving presented in the text. What are the three main...

Describe the general model of problem solving presented in the text. What are the three main phases and the different analysis step involved?

Solutions

Expert Solution

There are three main phases for solving any problem. These are:

The Three Stages

  • Understanding the Problem: The most important part of solving any problem is understanding it. Ask yourself or guide others to ask themselves the following questions:
    1. What am I looking for?
    2. What is the unknown?
    3. Do I understand every word and concept in the problem?
    4. Am I familiar with the units in which measurements are given?
    5. Is there information that seems missing?
    6. Is there information that seems superfluous?
    7. Is the source of information bona fide? (Think about those instances when a friend gives you a puzzle to solve and you suspect there’s something wrong with the way the puzzle is posed.)
  • Strategizing: Now that we think we understand the problem, we choose a strategy or a set of strategies to try to solve the problem. Ten general strategies[1] are:
    1. Logical reasoning
    2. Pattern recognition
    3. Working backwards
    4. Adopting a different point of view
    5. Considering extreme cases
    6. Solving a simpler analogous problem
    7. Organizing data
    8. Making a visual representation
    9. Accounting for all possibilities
    10. Intelligent guessing and testing

I have produced videos explaining each one of these strategies individually using problems we have solved at the Chapel Hill Math Circle.

  • Implementing: We now implement our strategy or set of strategies. As we progress, we check our reasoning and computations (if any). Many novice problem-solvers make the mistake of “doing something” before understanding (or at least thinking they understand) the problem. For instance, if you ask them “What are you looking for?”, they might not be able to answer. Certainly, it is possible to have an incorrect understanding of the problem, but that is different from not even realizing that we have to understand the problem before we attempt to solve it!

Finally Reviewing the solution basically aims at analysis of final output with respect to objective or goal. It aims at finding out how effectively the goal has been met.


Related Solutions

What is Group Problem Solving? Explain the different types of problem-solving techniques. Please explain what technique...
What is Group Problem Solving? Explain the different types of problem-solving techniques. Please explain what technique you think is most effective and why?
For this Variation of parameter problem, consider the following method of solving the general linear equation...
For this Variation of parameter problem, consider the following method of solving the general linear equation of first order y' + p(t)y= g(t) (a) If g(t) = 0 for all t, show that the solution is y= Aexp[ - the integral of p(t)dt] , where A is a constant Please use good handwriting and show as many steps as possible. Thank you.
What is meant by problem-solving in terms of psychology? Describe the steps required to successfully solve...
What is meant by problem-solving in terms of psychology? Describe the steps required to successfully solve a problem. Identify at least two factors that inhibit problem-solving and, for each factor, suggest two strategies for reducing their effects.
Describe an efficient recursive algorithm for solving the element uniqueness problem
Describe an efficient recursive algorithm for solving the element uniqueness problem, which runs in time that is at most O(n2) in the worst case without using sorting.    
please use R for solving the questions (e) Is multicollinearity a potential problem in this model?...
please use R for solving the questions (e) Is multicollinearity a potential problem in this model? (f) Construct a normal regression plot of residuals. Does there seem to be any problem with the normality assumption? (g) Construct and interpret a plot of the residuals versus predicted response. (h) Based on the above analysis, what is your recommended model? [Hint: Use the lm commend in R to fit a regression equation. Table B.4 y x1 x2 x3 x4 x5 x6 x7...
Identify one potential problem in health care and use the five-stage model for approaching problem solving...
Identify one potential problem in health care and use the five-stage model for approaching problem solving by Wheatley. What is the aspect of this situation that you think is most important? What new learning did you experience? Which things get in the way of solutions? How will we work together?
This is an introduction to psychology Describe the three main parts of the brain and what...
This is an introduction to psychology Describe the three main parts of the brain and what their functions are. Why is the transition from adolescence to adulthood especially challenging? Discuss the role you think the brain plays in this transition. Why are we more aware of some sensations than others? In general, how do people construct their perceptions? What is an altered state of consciousness? How is sleep an example of an altered state of consciousness. Be specific and be...
Define calibration and verification. Describe the general process of calibrating a model. List three useful hydrologic...
Define calibration and verification. Describe the general process of calibrating a model. List three useful hydrologic calibration parameters. Describe the general process of verification.
Problem 2 What is the main difference in prediction between the Lewis model and the Harris-Todaro...
Problem 2 What is the main difference in prediction between the Lewis model and the Harris-Todaro model on rural to urban migration? Given the validity of the Harris-Todaro model, what would you tell a government by creating government-subsidized jobs in its cities?
To solve the bid price problem presented in the text, we set the project NPV equal...
To solve the bid price problem presented in the text, we set the project NPV equal to zero and found the required price using the definition of OCF. Thus the bid price represents a financial break-even level for the project. This type of analysis can be extended to many other types of problems.       Romo Enterprises needs someone to supply it with 115,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you’ve...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT