MSIS 3223 Final Exam Oklahoma State
questions with correct answers
=Fixed Cost + Variable Cost * Quantity Produced - correct answer ✔✔Total Cost
A visual representation of a descriptive model that shows how the elements of the model
influence, or relate to, others. - correct answer ✔✔Influence Diagram
= Price * Quantity Sold - correct answer ✔✔Revenue
= Sales - Cost of Goods Sold - correct answer ✔✔Gross Profit
= Admin Expenses + Selling Expenses + Depreciation Expenses - correct answer ✔✔Operating
Expenses
= Gross Profit - Operating Expenses - correct answer ✔✔Net Operating Income
= Net Operating Income - Interest Expense - correct answer ✔✔Earnings Before Taxes
= Earnings Before Taxes - Taxes - correct answer ✔✔Net Income
The process of building spreadsheet models - correct answer ✔✔Spreadsheet Engineering
The process of ensuring that a model is accurate and free from logical errors. - correct answer
✔✔Verification
, 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. - correct answer ✔✔Data Validation
One-Time purchase decisions often must be made in the face of uncertain demand. - correct
answer ✔✔Single-Period Purchase Decisions
Theses kind of models focus on understanding the future. - correct answer ✔✔Predictive
Models
The process of projecting and summarizing a company's cash inflows and outflows expected
during a planning horizon, usually 6 to 12 months. - correct answer ✔✔Cash Budgeting
Concerned with scheduling the activities of a project involving interrelated activities. - correct
answer ✔✔Project Management
The longest path through the network defines the minimum project completion time is called
the... - correct answer ✔✔Critical Path
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. - correct answer ✔✔Optimization Models
questions with correct answers
=Fixed Cost + Variable Cost * Quantity Produced - correct answer ✔✔Total Cost
A visual representation of a descriptive model that shows how the elements of the model
influence, or relate to, others. - correct answer ✔✔Influence Diagram
= Price * Quantity Sold - correct answer ✔✔Revenue
= Sales - Cost of Goods Sold - correct answer ✔✔Gross Profit
= Admin Expenses + Selling Expenses + Depreciation Expenses - correct answer ✔✔Operating
Expenses
= Gross Profit - Operating Expenses - correct answer ✔✔Net Operating Income
= Net Operating Income - Interest Expense - correct answer ✔✔Earnings Before Taxes
= Earnings Before Taxes - Taxes - correct answer ✔✔Net Income
The process of building spreadsheet models - correct answer ✔✔Spreadsheet Engineering
The process of ensuring that a model is accurate and free from logical errors. - correct answer
✔✔Verification
, 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. - correct answer ✔✔Data Validation
One-Time purchase decisions often must be made in the face of uncertain demand. - correct
answer ✔✔Single-Period Purchase Decisions
Theses kind of models focus on understanding the future. - correct answer ✔✔Predictive
Models
The process of projecting and summarizing a company's cash inflows and outflows expected
during a planning horizon, usually 6 to 12 months. - correct answer ✔✔Cash Budgeting
Concerned with scheduling the activities of a project involving interrelated activities. - correct
answer ✔✔Project Management
The longest path through the network defines the minimum project completion time is called
the... - correct answer ✔✔Critical Path
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. - correct answer ✔✔Optimization Models
