MSIS 3223 Final Okstate Questions & Answers 100% Correct!!
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MSIS 3223 Okstate
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MSIS 3223 Okstate
A feasible solution is a - ANSWERset of values for the decision variables that satisfy all of the constraints.
A poorly scaled model is one that computes values of ______, ______, ______ that differ by several orders of magnitude - ANSWERobjective, constraints, or intermediate results
Alterna...
MSIS 3223 Final Okstate Questions &
Answers 100% Correct!!
A feasible solution is a - ANSWERset of values for the decision variables that satisfy all of the
constraints.
A poorly scaled model is one that computes values of ______, ______, ______ that differ by several
orders of magnitude - ANSWERobjective, constraints, or intermediate results
Alternate optimal solutions exist when - ANSWERany of the allowable increase or allowable decrease
values for changing cells are zero.
alternative optimal solutions - ANSWERobjective is maximized (or minimized) by more than one
combination of decision variables, all of which have the same objective function value
An optimization model has the following elements: - ANSWER1) Decision variables, 2) An objective to
maximize or minimize, and 3) Constraints.
As a result of poorly scaled models solver _____________ - ANSWERmay detect or suffer from
numerical instability
binary variables - ANSWERMany optimization models require ____ _____ which are variables that
are restricted to being either 0 or 1.
cash budget also shows - ANSWERthe monthly cash balances and any short-term borrowing used to
cover cash shortfalls
Cash budgeting - ANSWERthe process of projecting and summarizing a company's cash inflows and
outflows expected during a planning horizon, usually 6 to 12 months
Constraint categories: Balance constraints - ANSWERessentially state that input = output and ensure
that the flow of material or money is accounted for at locations or between time periods
Constraint categories: Limitations - ANSWERusually involve the allocation of scarce resources
, Constraint categories: Requirements - ANSWERinvolve the specification of minimum levels of
performance
Constraint categories: Simple Bonds - ANSWERconstrain the value of a single variable
Constraints are _______, ________, _________ that are imposed on any solution, either from
practical or technological considerations or by management policy. - ANSWERlimitations,
requirements, or other restrictions
Data validation feature is one useful excel tool that ..... - ANSWERallows you to define acceptable
input values in a spreadsheet and provides an error alert if an invalid entry is made.
Demand - ANSWERhas an influence on profit by predicting how many units of a product will be sold
example of multiple outputs being evaluated using one way data tables - ANSWERprofit and revenue
feasible region - ANSWERthe set of feasible solutions is often called the
how to evaluate multiple output variables? - ANSWERconstruct multiple two-way tables
In the Solver options, you can check the box _______ and solver will •rescale the values of the
objective and constraint functions internally to minimize the effects of poor scaling. - ANSWERUse
automatic scaling
infeasible problem - ANSWERone for which no feasible solution exists—that is, when there is no
solution that satisfies all constraints simultaneously.
integer linear optimization model - ANSWERsome or all of the variables are restricted to being whole
numbers
net income = - ANSWERsales- cost of goods sold - admin expenses - selling expenses - depreciation
expenses - interest expenses - taxes
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