MSIS 3223 Final Exam Oklahoma State Questions and Answers Correct 100%
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Course
MSIS 3223 Oklahoma
Institution
MSIS 3223 Oklahoma
Total Cost - ANSWER-=Fixed Cost + Variable Cost * Quantity Produced
Influence Diagram - ANSWER-A visual representation of a descriptive model that shows how the elements of the model influence, or relate to, others.
Revenue - ANSWER-= Price * Quantity Sold
Gross Profit - ANSWER-= Sales - Cost of...
MSIS 3223 Final Exam Oklahoma State
Questions and Answers Correct 100%
Total Cost - ANSWER-=Fixed Cost + Variable Cost * Quantity Produced
Influence Diagram - ANSWER-A visual representation of a descriptive model that shows
how the elements of the model influence, or relate to, others.
Revenue - ANSWER-= Price * Quantity Sold
Gross Profit - ANSWER-= Sales - Cost of Goods Sold
Operating Expenses - ANSWER-= Admin Expenses + Selling Expenses + Depreciation
Expenses
Net Operating Income - ANSWER-= Gross Profit - Operating Expenses
Earnings Before Taxes - ANSWER-= Net Operating Income - Interest Expense
Net Income - ANSWER-= Earnings Before Taxes - Taxes
Spreadsheet Engineering - ANSWER-The process of building spreadsheet models
Verification - ANSWER-The process of ensuring that a model is accurate and free from
logical errors.
Data Validation - ANSWER-An Excel tool that allows you to define acceptable input
values in a spreadsheet and provides and error alert if an invalid entry is made
-Data > Data Tools
-Select the cell range, click Data Validation
-Specify the criteria that Excel will use to flag invalid data.
Single-Period Purchase Decisions - ANSWER-One-Time purchase decisions often must
be made in the face of uncertain demand.
Predictive Models - ANSWER-Theses kind of models focus on understanding the future.
Cash Budgeting - ANSWER-The process of projecting and summarizing a company's
cash inflows and outflows expected during a planning horizon, usually 6 to 12 months.
Project Management - ANSWER-Concerned with scheduling the activities of a project
involving interrelated activities.
Critical Path - ANSWER-The longest path through the network defines the minimum
project completion time is called the...
Optimization Models - ANSWER-Predictive models are often called ____________ .
-Specifies a set of decision variables, numerical quantities that represent the decision
options from which to choose.
-Specifies an objective function and constraints.
What-If Analysis - ANSWER-Spreadsheet models that allow you to easily evaluate
what-if questions by changing input values and recalculating model outputs.
Data Tables - ANSWER-_______ _________ summarize the impact of one or two
inputs on a specified output.
One-Way Data Table - ANSWER-Evaluates an output variable over a range of values
for a single input variable.
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