MSIS 3223 FINAL EXAM REVIEW:
OKLAHOMA STATE UNIVERSITY - DR.
ALI BAGHERI
What does RAND() return? - Correct Answers -A random number between 0 and 1
In the context of simulation, random numbers are numbers that are ________
________ between 0 and 1. - Correct Answers -uniformly distributed
Triangular distribution is often used when one can... - Correct Answers -reasonably
estimate minimum, maximum, and most likely based on managerial knowledge and
judgement.
________ ________ are used in the absence of data and depend on 3 parameters,
minimum, maximum, and most likely. - Correct Answers -Triangular distribution
The process of generating random values for uncertain inputs in a model, computing the
output variable of interest, and repeating this process for many trials to improve the
results. - Correct Answers -Monte Carlo Simulation
Decision variables that are forced to be integers are called... - Correct Answers -Integer
Variables
Many optimization models require _________ __________, which are variables
restricted to being either 0 or 1. - Correct Answers -Binary Variables
In an integer linear optimization model some or all of the variables are... - Correct
Answers -restricted to being whole numbers
A _________ _________ is one for which the left-hand side is equal to the right-hand
side of the constraint at the optimal solution. - Correct Answers -Binding Constraint
When a problem is infeasible, Solver will report: - Correct Answers -"Solver could not
find a feasible solution."
Set of point that satisfy all constraints simultaneously - Correct Answers -Feasible
Region
, The set of feasible solutions is often called the _________ _________. - Correct
Answers -Feasible Region
Linear programs generally have an infinite number of feasible solutions. T/F - Correct
Answers -True
Set of values for the decision variables that satisfy all the constraints. - Correct Answers
-Feasible Solution
The ___________ ___________ ____________ provides basic informations about the
solution, including the values of the original and optimal objective function and decision
variables. - Correct Answers -Solver Answer Report
The cash budget also shows... - Correct Answers -The monthly cash balances and any
short-term borrowing used to cover cash shortfalls.
Process of projecting and summarizing a company's cash inflows and outflows
expected during a planning horizon, usually 6-12 months. - Correct Answers -Cash
Budgeting
Tool in Excel that allows you to define acceptable input values in a spreadsheet and
provides an error alert if any invalid entry is made. - Correct Answers -Data Validation
Feature
Process of ensuring that a model is accurate and free from logical errors. - Correct
Answers -Verification
Spreadsheets need to be these 3 things: - Correct Answers -Accurate
Understandable
User Friendly
Building spreadsheet models, often called ____________ ____________, is part art
and part science - Correct Answers -Spreadsheet Engineering
What does it mean if a model is infeasible? (an infeasible problem) - Correct Answers -
No feasible solution exists.
There is no solution that satisfies all constraints simultaneously.
Requirements involve... - Correct Answers -the specification of minimum levels of
performance
Proportional relationships are often in problems involving... - Correct Answers -mixtures
or blends of materials or strategies
Balance constraints essentially state that... - Correct Answers -input = output
OKLAHOMA STATE UNIVERSITY - DR.
ALI BAGHERI
What does RAND() return? - Correct Answers -A random number between 0 and 1
In the context of simulation, random numbers are numbers that are ________
________ between 0 and 1. - Correct Answers -uniformly distributed
Triangular distribution is often used when one can... - Correct Answers -reasonably
estimate minimum, maximum, and most likely based on managerial knowledge and
judgement.
________ ________ are used in the absence of data and depend on 3 parameters,
minimum, maximum, and most likely. - Correct Answers -Triangular distribution
The process of generating random values for uncertain inputs in a model, computing the
output variable of interest, and repeating this process for many trials to improve the
results. - Correct Answers -Monte Carlo Simulation
Decision variables that are forced to be integers are called... - Correct Answers -Integer
Variables
Many optimization models require _________ __________, which are variables
restricted to being either 0 or 1. - Correct Answers -Binary Variables
In an integer linear optimization model some or all of the variables are... - Correct
Answers -restricted to being whole numbers
A _________ _________ is one for which the left-hand side is equal to the right-hand
side of the constraint at the optimal solution. - Correct Answers -Binding Constraint
When a problem is infeasible, Solver will report: - Correct Answers -"Solver could not
find a feasible solution."
Set of point that satisfy all constraints simultaneously - Correct Answers -Feasible
Region
, The set of feasible solutions is often called the _________ _________. - Correct
Answers -Feasible Region
Linear programs generally have an infinite number of feasible solutions. T/F - Correct
Answers -True
Set of values for the decision variables that satisfy all the constraints. - Correct Answers
-Feasible Solution
The ___________ ___________ ____________ provides basic informations about the
solution, including the values of the original and optimal objective function and decision
variables. - Correct Answers -Solver Answer Report
The cash budget also shows... - Correct Answers -The monthly cash balances and any
short-term borrowing used to cover cash shortfalls.
Process of projecting and summarizing a company's cash inflows and outflows
expected during a planning horizon, usually 6-12 months. - Correct Answers -Cash
Budgeting
Tool in Excel that allows you to define acceptable input values in a spreadsheet and
provides an error alert if any invalid entry is made. - Correct Answers -Data Validation
Feature
Process of ensuring that a model is accurate and free from logical errors. - Correct
Answers -Verification
Spreadsheets need to be these 3 things: - Correct Answers -Accurate
Understandable
User Friendly
Building spreadsheet models, often called ____________ ____________, is part art
and part science - Correct Answers -Spreadsheet Engineering
What does it mean if a model is infeasible? (an infeasible problem) - Correct Answers -
No feasible solution exists.
There is no solution that satisfies all constraints simultaneously.
Requirements involve... - Correct Answers -the specification of minimum levels of
performance
Proportional relationships are often in problems involving... - Correct Answers -mixtures
or blends of materials or strategies
Balance constraints essentially state that... - Correct Answers -input = output
