MSIS 3223 Final Exam Oklahoma State
Questions & Answers 100% Correct!!
Total Cost - ANSWER=Fixed Cost + Variable Cost * Quantity Produced
Influence Diagram - ANSWERA 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= Sales - Cost of Goods Sold
Operating Expenses - ANSWER= Admin Expenses + Selling Expenses + Depreciation Expenses
Net Operating Income - ANSWER= Gross Profit - Operating Expenses
Cash Budgeting - ANSWERThe process of projecting and summarizing a company's cash inflows and
outflows expected during a planning horizon, usually 6 to 12 months.
Project Management - ANSWERConcerned with scheduling the activities of a project involving
interrelated activities.
Earnings Before Taxes - ANSWER= Net Operating Income - Interest Expense
Net Income - ANSWER= Earnings Before Taxes - Taxes
Spreadsheet Engineering - ANSWERThe process of building spreadsheet models
Verification - ANSWERThe process of ensuring that a model is accurate and free from logical errors.
Data Validation - ANSWERAn 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 - ANSWEROne-Time purchase decisions often must be made in the
face of uncertain demand.
Predictive Models - ANSWERTheses kind of models focus on understanding the future.
Critical Path - ANSWERThe longest path through the network defines the minimum project
completion time is called the...
Optimization Models - ANSWERPredictive 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 - ANSWERSpreadsheet 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 - ANSWEREvaluates an output variable over a range of values for a single input
variable.
Two-Way Data Tables - ANSWEREvaluate an output variable over a range of values for two different
input variables.
Questions & Answers 100% Correct!!
Total Cost - ANSWER=Fixed Cost + Variable Cost * Quantity Produced
Influence Diagram - ANSWERA 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= Sales - Cost of Goods Sold
Operating Expenses - ANSWER= Admin Expenses + Selling Expenses + Depreciation Expenses
Net Operating Income - ANSWER= Gross Profit - Operating Expenses
Cash Budgeting - ANSWERThe process of projecting and summarizing a company's cash inflows and
outflows expected during a planning horizon, usually 6 to 12 months.
Project Management - ANSWERConcerned with scheduling the activities of a project involving
interrelated activities.
Earnings Before Taxes - ANSWER= Net Operating Income - Interest Expense
Net Income - ANSWER= Earnings Before Taxes - Taxes
Spreadsheet Engineering - ANSWERThe process of building spreadsheet models
Verification - ANSWERThe process of ensuring that a model is accurate and free from logical errors.
Data Validation - ANSWERAn 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 - ANSWEROne-Time purchase decisions often must be made in the
face of uncertain demand.
Predictive Models - ANSWERTheses kind of models focus on understanding the future.
Critical Path - ANSWERThe longest path through the network defines the minimum project
completion time is called the...
Optimization Models - ANSWERPredictive 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 - ANSWERSpreadsheet 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 - ANSWEREvaluates an output variable over a range of values for a single input
variable.
Two-Way Data Tables - ANSWEREvaluate an output variable over a range of values for two different
input variables.
