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MSIS 3223 Final Exam - Online Nord Okstate with Correct Solutions $11.49   Add to cart

Exam (elaborations)

MSIS 3223 Final Exam - Online Nord Okstate with Correct Solutions

  • Course
  • MSIS 3223
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  • MSIS 3223

MSIS 3223 Final Exam - Online Nord Okstate with Correct SolutionsMSIS 3223 Final Exam - Online Nord Okstate with Correct SolutionsMSIS 3223 Final Exam - Online Nord Okstate with Correct SolutionsMSIS 3223 Final Exam - Online Nord Okstate with Correct Solutions Variable Cost - ANSWER-Unit Variable ...

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  • October 29, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MSIS 3223
  • MSIS 3223
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NursingTutor1
MSIS 3223 Final Exam - Online Nord
Okstate with Correct Solutions
Variable Cost - ANSWER-Unit Variable Cost * Quantity Produced

Total Cost - ANSWER-Fixed Cost + (Variable Cost * Quantity Produced

Quantity produced is based on... - ANSWER-prediction of demand

Profit = - ANSWER-Revenue - Variable Costs - Fixed Costs

One-Way Data Tables - ANSWER-Can be used to evaluate multiple outputs (i.e. profit
and revenue)

Two-Way Data Tables - ANSWER-Can be used to evaluate ONLY ONE output variable.
To evaluate multiple, you will need to make multiple of these data tables.

Predictive models - ANSWER--focus on understanding the future
-involve multiple time periods
-incorporate uncertainty element

Sales levels - ANSWER-often used to plan inventory levels (predictive decision models)

Optimization Models - ANSWER-have been used extensively in operations and supply
chains, finance, marketing, and other disciplines

Has 3 elements:
1. decision variables
2. objective to maximize or minimize
3. constraints

Limitations Constraint - ANSWER-involve the allocation of scarce resources
(limited resources)

Requirements Constraint - ANSWER-Involve the specification of minimum levels of
performance
(Minimum Requirements)

Proportional Relationships Constraint - ANSWER-often found in problems involving
mixtures or blends of materials or strategies
(proportion of a mixture)

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