MSIS Final Exam 3223 Ali Okstate Questions and Answers 100% Accurate
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MSIS Final Exam 3223 Ali Okstate Questions and Answers 100% AccurateMSIS Final Exam 3223 Ali Okstate Questions and Answers 100% AccurateMSIS Final Exam 3223 Ali Okstate Questions and Answers 100% AccurateMSIS Final Exam 3223 Ali Okstate Questions and Answers 100% AccurateThe process of developing g...
MSIS Final Exam 3223 Ali Okstate
Questions and Answers 100% Accurate
The process of developing good, useful, and correct spreadsheet models is known as
spreadsheet engineering
T/F - ANSWER-True
In predictive modeling, validity refers to how well a model represents reality
T/F - ANSWER-True
Two-way data tables can evaluate only one output variable
T/F - ANSWER-True
Models can capture every detail of a real problem
T/F - ANSWER-False
Verification is the process of ensuring that a model is accurate and free from logical
errors
T/F - ANSWER-True
Excel Formula Auditing tools (in the Formulas tab) help you validate the formulas and
check for errors
T/F - ANSWER-True
One useful Excel tool is the data error feature, which allows you to define acceptable
input values in a spreadsheet and provides an error alert if an invalid entry is made
T/F - ANSWER-False
A wide variety of practical problems in business analytics can be modeled using
spreadsheets
T/F - ANSWER-True
Which of the following is a visual representation of a descriptive model that shows how
the elements of the model influence, or relate to, others?
Precedence diagram
Influence diagram
Scatter chart - ANSWER-Influence Diagram
Adding more realism to a model reduces its complexity
T/F - ANSWER-False
T/F: as Monte Carlo simulation is essentially statistical sampling, the larger the number
of trials used, the more precise the results. - ANSWER-True
, T/F: Uniform or triangular distributions are used in the absence of data. - ANSWER-
True
T/F: Risk analysis seeks to examine the impact of uncertain inputs on various outputs. -
ANSWER-True
T/F: In the context of simulation, random numbers are numbers that are uniformly
distributed between 0 and 9. - ANSWER-False
T/F: A value randomly generated from a specified probability distribution is called a
random variate. - ANSWER-True
Simple bonds constrain the values of multiple variables
T/F - ANSWER-False
Proportional relationships are often found in problems involving mixtures or blends of
materials or strategies
T/F - ANSWER-True
Balance constraints essentially state that input = output and ensure that the flow of
material or money is accounted for at locations or between time periods
A constraint function is a function of the decision variables in the problem
T/F - ANSWER-True
Infeasible problems can occur when the demand requirement is higher than the
available capacity
T/F - ANSWER-True
Decision variables in an optimization model are known values
T/F - ANSWER-False
Constraints are limitations, requirements, or other restrictions that are imposed on any
solution, either from practical of technological considerations or by management policy
T/F - ANSWER-True
T/F - ANSWER-True
Variable cost formula - ANSWER-unit variable cost * quantity produced
Total cost formula - ANSWER-fixed cost + variable cost * quantity produced
also written as C = F + VQ
Demand has an influence on profit by predicting - ANSWER-how many units of a
product will be sold.
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