Exam (elaborations)
MSIS Final Exam 3223 Ali Okstate/107 Questions and Answers
- Course
- Institution
MSIS Final Exam 3223 Ali Okstate/107 Questions and Answers
[Show more]
Content preview
MSIS Final Exam 3223 AliOkstate/107 Questions and Answers
The process of developing good, useful, and correct spreadsheet models is
known as spreadsheet engineering
T/F - -True
- In predictive modeling, validity refers to how well a model represents
reality
T/F - -True
- Two-way data tables can evaluate only one output variable
T/F - -True
- Models can capture every detail of a real problem
T/F - -False
- Verification is the process of ensuring that a model is accurate and free
from logical errors
T/F - -True
- Excel Formula Auditing tools (in the Formulas tab) help you validate the
formulas and check for errors
T/F - -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 - -False
- A wide variety of practical problems in business analytics can be modeled
using spreadsheets
T/F - -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 - -Influence Diagram
- Adding more realism to a model reduces its complexity
T/F - -False
, - T/F: as Monte Carlo simulation is essentially statistical sampling, the larger
the number of trials used, the more precise the results. - -True
- T/F: Uniform or triangular distributions are used in the absence of data. - -
True
- T/F: Risk analysis seeks to examine the impact of uncertain inputs on
various outputs. - -True
- T/F: In the context of simulation, random numbers are numbers that are
uniformly distributed between 0 and 9. - -False
- T/F: A value randomly generated from a specified probability distribution is
called a random variate. - -True
- A constraint function is a function of the decision variables in the problem
T/F - -True
- Any solution that satisfies all constraints of a problem is called a feasible
solution
T/F - -True
- A binding constraint is one for which the Cell Value is greater than the
right-hand side of the value of the constraint
T/F - -False
- There are three types of organization models, linear, integer, and nonlinear
T/F - -True
- Infeasible problems can occur when the demand requirement is higher
than the available capacity
T/F - -True
- Decision variables in an optimization model are known values
T/F - -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 - -True
- Simple bonds constrain the values of multiple variables
T/F - -False
- Proportional relationships are often found in problems involving mixtures
or blends of materials or strategies
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82191 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now