MSIS 3223 Final Exam Oklahoma State Questions Solved Correctly.
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Course
MSIS 3223
Institution
MSIS 3223
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 ...
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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