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MSIS 3223 Final Exam Oklahoma State Questions And Answers.
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MSIS 3223 Final Exam Oklahoma State Questions And Answers.
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MSIS 3223 Final Exam Oklahoma StateQuestions And Answers
Total Cost - (correct answer) -=Fixed Cost + Variable Cost * Quantity Produced
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Influence Diagram - (correct answer) -A visual representation of a descriptive model that
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shows how the elements of the model influence, or relate to, others.
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Revenue - (correct answer) -= Price * Quantity Sold
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Gross Profit - (correct answer) -= Sales - Cost of Goods Sold
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Operating Expenses - (correct answer) -= Admin Expenses + Selling Expenses +
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Depreciation Expenses
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Net Operating Income - (correct answer) -= Gross Profit - Operating Expenses
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Earnings Before Taxes - (correct answer) -= Net Operating Income - Interest Expense
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Net Income - (correct answer) -= Earnings Before Taxes - Taxes
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Spreadsheet Engineering - (correct answer) -The process of building spreadsheet
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models
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Verification - (correct answer) -The process of ensuring that a model is accurate and
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free from logical errors.
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Data Validation - (correct answer) -An Excel tool that allows you to define acceptable
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input values in a spreadsheet and provides and error alert if an invalid entry is made
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-Data > Data Tools io io io
-Select the cell range, click Data Validation
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-Specify the criteria that Excel will use to flag invalid data.
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Single-Period Purchase Decisions - (correct answer) -One-Time purchase decisions io io io io io io io io
often must be made in the face of uncertain demand.
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Predictive Models - (correct answer) -Theses kind of models focus on understanding the
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future.
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, Cash Budgeting - (correct answer) -The process of projecting and summarizing a
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company's cash inflows and outflows expected during a planning horizon, usually 6 to
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12 months.
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Project Management - (correct answer) -Concerned with scheduling the activities of a
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project involving interrelated activities.
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Critical Path - (correct answer) -The longest path through the network defines the
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minimum project completion time is called the...
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Optimization Models - (correct answer) -Predictive models are often called io io io io io io io io io
____________ .
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-Specifies a set of decision variables, numerical quantities that represent the decision
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options from which to choose.
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-Specifies an objective function and constraints. io io io io io
What-If Analysis - (correct answer) -Spreadsheet models that allow you to easily
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evaluate what-if questions by changing input values and recalculating model outputs.
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Data Tables - (correct answer) -_______ _________ summarize the impact of one or
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two inputs on a specified output.
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One-Way Data Table - (correct answer) -Evaluates an output variable over a range of
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values for a single input variable.
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Two-Way Data Tables - (correct answer) -Evaluate an output variable over a range of
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values for two different input variables.
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Scenario Manager - (correct answer) -Allows the creation of scenarios. Sets of values
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that are saved and can be substituted in worksheets.
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Optimization - (correct answer) -The process of selecting values of decision variables
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that minimize or maximize some quantity of interest.
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What are the 2 basic properties of Linear Optimization Models? - (correct answer) -1.
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The objective function and all constraints are linear functions of the decision variables.
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2. All variables are continuous.
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Integer Linear Optimization Model - (correct answer) -Some of or all the variables are
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restricted to being whole numbers.
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- A special type of integer problem is one in which variables can be only 0 or 1.
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