Msis 3223 stuvia 2024 - Study guides, Class notes & Summaries

•Common mathematical operators are used - ANSWER-addition (+) -subtraction (-) -multiplication (*) -division (/) -exponentiation (^) Relative references - ANSWERA2, C5, D10 Absolute references - ANSWER$A$2, $C5, D$10 Using a $ sign before a row label (for example, B$4) keeps the reference fixed to row 4 but allows the column reference to change if the formula is copied to another cell. - ANSWER Using a $ sign before a column label (for example, $B4) keeps the reference to colum...

Business Analytics - ANSWERThe use of data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based models to help managers gain improved insight about the business operations and make better, fact-based decisions. Pricing (example of business analytics application) - ANSWERsetting prices for consumer and industrial goods, government contracts, and maintenance contracts Customer segmentation (example of business analytics application) - ANSWER...

Operations management - ANSWER- The management of processes or systems that create goods and/or provide services. - inputs transformed into outputs (goods or services) - plays role in supply chain - works with marketing and finance It creates _____ - ANSWERVALUE added - research and investment, salaries, creating profits Classifications on Productive Systems - ANSWER1. Degree of Standardization (highly standardized or highly customized) 2. Type of Operation (project, repetitive) 3....

discount rate - ANSWERthe opportunity costs of spending funds now vs achieving a return through another investment, & the risks associated with not receiving returns until a later time. Descriptive analytics - ANSWER-summarizes data into meaningful charts and reports, for example, about budgets, sales, revenues, or cost. -most commonly used and most-well understood type of analytics. Predictive Analytics - ANSWERpredict the future by examining historical data, detecting patterns or relati...

Building spreadsheet models, often called _____________, is part art and part science - ANSWERspreadsheet engineering The Process of developing good, useful, and correct spreadsheet models is known as spreadsheet engineering A. True B. False - ANSWERTrue The Process of developing good, useful, and correct spreadsheet models is known as spreadsheet _________ - ANSWERengineering In predictive modeling, validity refers to how well a model represents reality. A. True B. False - ANSWER...

Addition in excel - ANSWER+ Subtraction in Excel - ANSWER- Multiplication in Excel - ANSWER* Division in Excel - ANSWER/ Raised to the power (exponentiation) - ANSWER^ How would 10 raised to the power of 2 × 5 raised to the power of 3/ 100 - 73 be represented in an Excel spreadsheet? - ANSWER10^2 * 5^3/100-73 relative address - ANSWERA relative address uses just the row and column label in the cell reference (for example A4 or C23) absolute address - ANSWERAn absolute addre...

False - ANSWERDescriptive analytics helps detect hidden patterns in large quantities of data to group data into sets to predict behavior (T/F). False - ANSWERA manager at Academy wishes to know the company's revenue and profit in its previous quarter. Predictive analytics is what the manager should use for this task (T/F). True - ANSWERPrescriptive analytics can help a company address the best way of shipping goods from their factories to minimize costs (T/F). False - ANSWERAnalyzing...

The process of developing good, useful, and correct spreadsheet models is known as spreadsheet engineering T/F - ANSWERTrue In predictive modeling, validity refers to how well a model represents reality T/F - ANSWERTrue Two-way data tables can evaluate only one output variable T/F - ANSWERTrue Models can capture every detail of a real problem T/F - ANSWERFalse Verification is the process of ensuring that a model is accurate and free from logical errors T/F - ANSWERTrue Excel...

Covariance - ANSWERa measure of linear association between two variables, X and Y Correlation - ANSWERmeasure of the linear relationship between two variables, X and Y, which does not depend on the units of measurement. is measured by the coefficient. For two variables a __________ correlation coefficient indicates a linear relationship exists for which one variable increases as the other also increases. - ANSWERpositive Coeffecient of Variation - ANSWERprovides a relative measure of th...

Cell references - ANSWER_____ in formulas can be written with either relative addresses or absolute addresses. Relative - ANSWERA(n) _____ address uses just the row and column label in the cell reference (for example A4 or C23). Absolute - ANSWERA(n) _____ address uses a dollar sign ($) before either the row or column or both ($A2, C$23, or $B$15). Descriptive Analytics - ANSWERThe most commonly used and most-well understood type of analytics. Summarizes data into meaningful charts & re...