Exam (elaborations)
MSIS 3223 Final Exam Review OKST (Nord).pdf
- Course
- Msis 3223
- Institution
- Oklahoma State University - Oklahoma City
MSIS 3223 Final Exam Review OKST (Nord).pdf
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MSIS 3223 Final Exam Review OKST(Nord)
Variable cost = ? - correct answer Unit Variable Cost * Quantity
Produced
Total Cost = - correct answer Fixed Cost + Variable Cost* Quantity
Produced
Also written as C=F+VQ
Logic suggests that variable cost is the unit variable cost times the
quantity of item produced. Thus a ____________ would be - correct
answer descriptive model
_______has an influence on profit by predicting how many units of a
product will be sold.______________produced is a decision option
typically based on demand. - correct answer 1) Demand
2) Quantity
, The spreadsheet model for _____ is revenue minus variable cost
minus fixed cost. - correct answer 1)Profit
Profit= Revenue-Variable cost-fixed cost
Multiple outputs may be evaluated using _______________. For
example, profit and revenue. - correct answer one way data tables
_____________can evaluate only one output variable. To evaluate
multiple output variables, you must construct ___________________. -
correct answer 1)Two-way tables
2)multiple two-way tables
___________focus on understanding the future. - correct answer
Predictive Models
______________focus on predicting financial performance, customer
retention, and product sales. - correct answer Practical business
models
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