MIDTERM EXAM: SPREADSHEET
MODELING & DECISION ANALYSIS
EXAM QUESTIONS AND CORRECT
ANSWERS. VERIFIED 2025/2026.
Primary goal of business analytics - ANS To use data, statistics, and models to improve
decision-making
Categories of mathematical models - ANS Descriptive, Predictive, Experimental, Prescriptive
Good decision definition - ANS A decision made using a structured process and relevant data
Anchoring and framing effects - ANS How initial information influences decision-making
Objective function in linear programming - ANS The function that needs to be maximized or
minimized
Valid LP constraint - ANS Constraints that must be satisfied in a linear programming model
Binding constraint - ANS The constraint is active and limits the solution
Redundant constraint - ANS Has no effect on the feasible region
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Feasible region in linear programming - ANS Contains all possible solutions that satisfy
constraints
Optimal solution in graphical LP - ANS Typically found at the intersection of constraint
boundary lines
Purpose of Simplex LP method in Solver - ANS Optimizes linear programming models
Constraint for binary decision variables in Solver - ANS X = 0 or 1
Excel function to find sum of values meeting a condition - ANS SUMIF
Purpose of Excel's Data Table tool - ANS To analyze different input scenarios for a formula
Valid constraint type in Excel's Solver - ANS Constraints that can be applied within the Solver
tool
Linear equality - ANS A + B = 100
Binary constraint - ANS X = 0 or 1
Non-negativity constraint - ANS X≥0
Multiplicative constraint - ANS A × B = 50
IF function return condition - ANS The =IF(A1>10, "High", "Low") function will return "High"
when A1 = 15
Solver Answer Report - ANS A summary of the optimal solution and constraint status
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
MODELING & DECISION ANALYSIS
EXAM QUESTIONS AND CORRECT
ANSWERS. VERIFIED 2025/2026.
Primary goal of business analytics - ANS To use data, statistics, and models to improve
decision-making
Categories of mathematical models - ANS Descriptive, Predictive, Experimental, Prescriptive
Good decision definition - ANS A decision made using a structured process and relevant data
Anchoring and framing effects - ANS How initial information influences decision-making
Objective function in linear programming - ANS The function that needs to be maximized or
minimized
Valid LP constraint - ANS Constraints that must be satisfied in a linear programming model
Binding constraint - ANS The constraint is active and limits the solution
Redundant constraint - ANS Has no effect on the feasible region
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Feasible region in linear programming - ANS Contains all possible solutions that satisfy
constraints
Optimal solution in graphical LP - ANS Typically found at the intersection of constraint
boundary lines
Purpose of Simplex LP method in Solver - ANS Optimizes linear programming models
Constraint for binary decision variables in Solver - ANS X = 0 or 1
Excel function to find sum of values meeting a condition - ANS SUMIF
Purpose of Excel's Data Table tool - ANS To analyze different input scenarios for a formula
Valid constraint type in Excel's Solver - ANS Constraints that can be applied within the Solver
tool
Linear equality - ANS A + B = 100
Binary constraint - ANS X = 0 or 1
Non-negativity constraint - ANS X≥0
Multiplicative constraint - ANS A × B = 50
IF function return condition - ANS The =IF(A1>10, "High", "Low") function will return "High"
when A1 = 15
Solver Answer Report - ANS A summary of the optimal solution and constraint status
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
