MSIS 3223 FINAL EXAM REVIEW (JASON MORGAN
OKSTATE) QUESTIONS AND ANSWERS
Constraints in an Optimization Model
•Constraints are limitations, requirements, or other restrictions that are imposed on any
solution, either from practical or technological considerations or by management policy.
variable cost
unit variable cost*quntity produced
total cost
fixed cost+variable cost*quantity produced
demand
demand has an influence on profit by predicting how many units of a product will be
sold. quantity produced is a decision option typically based on demand
spreadsheet model for profit
revenue-variable cost-fixed cost
What-if analysis
allows you to use
data tables
OKSTATE) QUESTIONS AND ANSWERS
Constraints in an Optimization Model
•Constraints are limitations, requirements, or other restrictions that are imposed on any
solution, either from practical or technological considerations or by management policy.
variable cost
unit variable cost*quntity produced
total cost
fixed cost+variable cost*quantity produced
demand
demand has an influence on profit by predicting how many units of a product will be
sold. quantity produced is a decision option typically based on demand
spreadsheet model for profit
revenue-variable cost-fixed cost
What-if analysis
allows you to use
data tables
