Name: Class: Date:
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 9th Edition Cliff
Ragsdale Chapter 1-15
Answers are at the end of each chapter
chapter 1
Indicate whether the statement is true or false.
1. Because they simplify reality, models are generally not helpful in examining things that would be impossible
to do in reality.
a. True
b. False
2. The proliferation of powerful PCs and the development of easy-to-use electronic spreadsheets have made
the tools of business analytics far more practical and available to a much larger audience.
a. True
b. False
3. A mathematical model uses mathematical relationships to describe or represent an object or decision problem.
a. True
b. False
wis
4. In spreadsheet modeling of a problem, there is no direct correspondence between mathematical
equation and the spreadsheet.
a. True
b. False
5. Humans usually do not make errors in estimation due to anchoring and framing effects.
a. True
b. False
epr
6. Good decisions always result in good outcomes.
a. True
b. False
7. Defining a problem well will often make it much easier to solve.
a. True
b. False
8. OR/MS specialists do not deliver business value.
a. True
of
b. False
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,Name: Class: Date:
Indicate the answer choice that best completes the statement or answers the question.
wis
epr
of
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,Name: Class: Date:
9. Identifying the real problems faced by the decision maker
a. is not important since the decision maker has already defined the
problem.
b. requires insight, some imagination, time and a good bit of detective
work.
c. first requires a well-defined problem statement.
d. will lead to developing the best model.
10. Business opportunities can be viewed and formulated as
a. decision
problems.
b. analytical
models.
c. empirical
models.
d. testing tools.
11. In a spreadsheet, input cells correspond conceptually to
a. dependent variables.
b. functions.
c. independent
variables.
wis
d. output cells.
12. Solutions to which of the following categories of modeling techniques indicate a course of action to the
decision maker?
a. Descriptive
models
b. Predictive
models
c. Prescriptive
epr
models
d. Preventive
models
13. A factor that plays a role in determining whether a good or bad outcome occurs is called
a. luck.
b. intuition.
c. certainty.
d. predictability
.
of
14. In a model Y=f(x1, x2), Y is called:
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wiseprof
, Name: Class: Date:
a. a dependent variable.
b. an independent
variable.
c. a confounded variable.
d. a convoluted variable.
15. Which of the following is the type of model used throughout this textbook?
a. Mathematical
model
b. Mental model
c. Physical model
d. Visual model
16. The essence of decision analysis is:
wis
epr
of
Copyright Cengage Learning. Powered by Cognero. Page 4
wiseprof
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 9th Edition Cliff
Ragsdale Chapter 1-15
Answers are at the end of each chapter
chapter 1
Indicate whether the statement is true or false.
1. Because they simplify reality, models are generally not helpful in examining things that would be impossible
to do in reality.
a. True
b. False
2. The proliferation of powerful PCs and the development of easy-to-use electronic spreadsheets have made
the tools of business analytics far more practical and available to a much larger audience.
a. True
b. False
3. A mathematical model uses mathematical relationships to describe or represent an object or decision problem.
a. True
b. False
wis
4. In spreadsheet modeling of a problem, there is no direct correspondence between mathematical
equation and the spreadsheet.
a. True
b. False
5. Humans usually do not make errors in estimation due to anchoring and framing effects.
a. True
b. False
epr
6. Good decisions always result in good outcomes.
a. True
b. False
7. Defining a problem well will often make it much easier to solve.
a. True
b. False
8. OR/MS specialists do not deliver business value.
a. True
of
b. False
Copyright Cengage Learning. Powered by Cognero. Page 1
wiseprof
,Name: Class: Date:
Indicate the answer choice that best completes the statement or answers the question.
wis
epr
of
Copyright Cengage Learning. Powered by Cognero. Page 2
wiseprof
,Name: Class: Date:
9. Identifying the real problems faced by the decision maker
a. is not important since the decision maker has already defined the
problem.
b. requires insight, some imagination, time and a good bit of detective
work.
c. first requires a well-defined problem statement.
d. will lead to developing the best model.
10. Business opportunities can be viewed and formulated as
a. decision
problems.
b. analytical
models.
c. empirical
models.
d. testing tools.
11. In a spreadsheet, input cells correspond conceptually to
a. dependent variables.
b. functions.
c. independent
variables.
wis
d. output cells.
12. Solutions to which of the following categories of modeling techniques indicate a course of action to the
decision maker?
a. Descriptive
models
b. Predictive
models
c. Prescriptive
epr
models
d. Preventive
models
13. A factor that plays a role in determining whether a good or bad outcome occurs is called
a. luck.
b. intuition.
c. certainty.
d. predictability
.
of
14. In a model Y=f(x1, x2), Y is called:
Copyright Cengage Learning. Powered by Cognero. Page 3
wiseprof
, Name: Class: Date:
a. a dependent variable.
b. an independent
variable.
c. a confounded variable.
d. a convoluted variable.
15. Which of the following is the type of model used throughout this textbook?
a. Mathematical
model
b. Mental model
c. Physical model
d. Visual model
16. The essence of decision analysis is:
wis
epr
of
Copyright Cengage Learning. Powered by Cognero. Page 4
wiseprof
