Test Bank for Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 9th Edition Cliff Ragsdale

Test Bank for Spreadsheet Modeling and Decision Analysis A
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Practical Introduction To Business Analytics 9th Edition
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Cliff Ragsdale
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,TABLE OF CONTENTS
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1. Introductionto ModelingandDecision Analysis. vi vi vi vi vi




2. Introduction to Optimization and Linear Programming. vi vi vi vi vi




3. ModelingandSolvingLPProblems ina Spreadsheet.
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4. Sensitivity Analysis andthe Simplex Method. vi vi vi vi




5. Network Modeling. vi




6. Integer Linear Programming.
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7. Goal Programming and Multiple Objective Optimization.
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8. Nonlinear Programming & Evolutionary Optimization.
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9. Regression Analysis. vi




10. Data Mining.
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11. TimeSeriesForecasting.
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12. Introduction to Simulation. vi vi




13. Queuing Theory. vi




14. Decision Analysis. vi




15. Project Management (Online).
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, Chapter1Introduction to Modeling andDecisionAnalysis. vi vi vi vi vi vi vi




Answers Are At The End Of Each Chapter vi vi vi vi vi vi vi




Indicate whether the statement is true or false.
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1. Because they simplify reality, models are generally not helpful in examining things that would be impossible
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todoin reality.
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a. True
b. False

2. The proliferation of powerful PCs and the development of easy-to-use electronic spreadsheets have made the tools of
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business analytics far more practical and available to a much larger audience.
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a. True
b. False

3. A mathematical model uses mathematical relationships to describe or representan object or decision problem.
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a. True
b. False

4. In spreadsheet modeling of a problem, there is no direct correspondence between mathematical equation and
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thespreadsheet.
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a. True
b. False

5. Humansusually do not make errors in estimation due to anchoring and framing effects.
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a. True
b. False

6. Good decisions always result in good outcomes.
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a. True
b. False

7. Defining a problem well will often make it much easier tosolve.
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a. True
b. False

8. OR/MS specialists do not deliver business value.
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a. True
b. False

Indicate the answer choice that best completes the statement or answers the question.
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, 9. Identifying the real problems faced by the decision maker
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a. is not important since the decision maker has already defined the problem.
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b. requires insight, some imagination, time and a good bit of detective work.
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c. first requires a well-defined problem statement.
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d. will leadto developing the bestmodel.
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10. Business opportunities can be viewed and formulated as
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a. decision problems. vi


b. analytical models. vi


c. empirical models. v i


d. testing tools. vi




11. Ina spreadsheet, input cells correspond conceptually to
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a. dependent variables. v i


b. functions.
c. independent variables. v i


d. output cells. vi




12. Solutions to which of the following categories of modeling techniques indicate a course of action to the
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decisionmaker?
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a. Descriptive models v i


b. Predictive models vi


c. Prescriptive models v i


d. Preventive models vi




13. A factor that playsa role in determining whether a good or badoutcome occurs is called
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a. luck.
b. intuition.
c. certainty.
d. predictability.

14. Ina model Y=f(x1, x2), Y is called:
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a. a dependent variable.
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b. an independent variable.
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c. a confounded variable.
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d. a convoluted variable.
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15. Which of the following is the type of model used throughout this textbook?
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a. Mathematical model vi


b. Mental model vi


c. Physical model vi


d. Visualmodel