QMB Exam 2 - Willox Exam Questions
With 100% Verified Answers
Linear Programming -
correct answer ✅The planning of activities represented by a linear
mathematical model. Helps management allocate it's resources to
various activities.
3 Questions when formulating any spreadsheet model -
correct answer ✅What are the decisions to be made?
What are the constraints on these decisions?
What is the overall measure of performance for these decisions?
Changing Cells (decision variables) -
correct answer ✅contain the decisions to be made and affect the
overall measure of performance.
(yellow)
Objective Cell -
correct answer ✅Overall measure of performance. Either
maximize or minimize this value.
=sumproduct(top blue data, yellow changing).
, QMB Exam 2 - Willox Exam Questions
With 100% Verified Answers
(orange)
Output Cell -
correct answer ✅Provides output depending on the changing cells.
=sumproduct(blue left data, yellow changing).
(blue)
Resource Allocation -
correct answer ✅Allocating resources to activities. <=
Cost Benefit Trade Off -
correct answer ✅Trade off between total cost of activities and the
benefits to be achieved from the activities. Management says which
benefits must be achieved and the objective is minimizing the cost
to achieve these benefits. >=
Mixed -
correct answer ✅Includes at least 2 of the 3 functional constraints.
Transportation -
correct answer ✅Finding a shipping plan that minimizes the total
With 100% Verified Answers
Linear Programming -
correct answer ✅The planning of activities represented by a linear
mathematical model. Helps management allocate it's resources to
various activities.
3 Questions when formulating any spreadsheet model -
correct answer ✅What are the decisions to be made?
What are the constraints on these decisions?
What is the overall measure of performance for these decisions?
Changing Cells (decision variables) -
correct answer ✅contain the decisions to be made and affect the
overall measure of performance.
(yellow)
Objective Cell -
correct answer ✅Overall measure of performance. Either
maximize or minimize this value.
=sumproduct(top blue data, yellow changing).
, QMB Exam 2 - Willox Exam Questions
With 100% Verified Answers
(orange)
Output Cell -
correct answer ✅Provides output depending on the changing cells.
=sumproduct(blue left data, yellow changing).
(blue)
Resource Allocation -
correct answer ✅Allocating resources to activities. <=
Cost Benefit Trade Off -
correct answer ✅Trade off between total cost of activities and the
benefits to be achieved from the activities. Management says which
benefits must be achieved and the objective is minimizing the cost
to achieve these benefits. >=
Mixed -
correct answer ✅Includes at least 2 of the 3 functional constraints.
Transportation -
correct answer ✅Finding a shipping plan that minimizes the total
