MSIS FINAL

Which of the following options is used if solver gives an error message that Linearity it's not satisfied?

'set cell' is B14, 'to value' is $2400, 'by changing cell' is B7

Which of the following mathematically expresses the packing constraint?

0.2 product1 + 0.3 product2 <= 14

What is the total available finishing labor hours per day?

28

Which function returns a random number between 30 and 36?

30 + 6* RAND ()

Which of the following mathematically expresses the objective function?

45 product1 + 55 procuct2

All constraints and optimization models can be one of the following forms except for...

<>

Which of the following formulas would be used to calculate the net operating income using only the model values in the spreadsheet above?

=B15-B16

Which of the following formulas would be used to calculate earnings before taxes using both the data and model values in the spreadsheet above?

=B17-B10

Which of the following formulas would be used to calculate the net income using both the data and model sections in the spreadsheet above?

=B18-B11

Which of the following would be used to calculate the gross profit using only the data values in the spreadsheet above?

=B5-B6

Which of the following formulas would be used to calculate the net income value using only the data values in the spreadsheet above?

=B5-SUM(B6:B11)

Which of the following formulas would be used to calculate the operating expenses using only the data values in the spreadsheet above?

=SUM(B7:B9)

Which statement is NOT true about data tables?

A two-way data table can evaluate more than one output variable

______ constraints essentially state that input = output and ensure that the flow of material or money is counted for at locations or between time periods.

Balance

Which one is NOT a what if analysis tool in excel?

Data validation

Which of the following would be considered as an example of a proportional relationships constraint?

Ensuring that the budget allocated to marketing is thrice that of research and development

In predictive modeling, verification refers to how well a model represents reality.

False

In the context of simulation, random numbers are numbers that are uniformly distributed between 0 and 100.

False

Requirements involve this specifications on maximum levels of performance.

False

Simple bounds constrain the values of multiple variables.

False

The process of developing good, useful, and correct spreadsheet miles is known as system analysis.

False

When a problem is invasible, solver report the following message: " solver has found an error with the problem."

False

Which of the following best defines Monte Carlo simulation?

It is the process of generating random values for uncertain inputs in a model and computing the output variables of interest.

Problem statement such as the amount of material abused in production cannot exceed the amount available in inventory would be categorized as a _______ constraint.

Limitations

Which of the following express the decision variables?

Number of product1 and product2

Which of the following is necessary to calculate the variable cost of production for the company to develop a profit model?

Quantity of item produced

Problem statement such as production must be sufficient to meet promised customer orders would be categorized as a ________ constraint.

Requirements

Which of the following excel functions can be used in implementing linear optimization models in excel?

SUMPRODUCT

When a model has a unique optimal solution, it means that______

There is exactly one solution that will result in the maximum or minimum objective

An infusable problem is one for which

There is no solution that simultaneously satisfies all the constraints

Which of the following best defines constraints in an optimization problem?

They are limitations, requirements, or other restrictions that are imposed on any solution

Which of the following best defines objective functions?

They are quantities that an optimization model six to maximize or minimize

Which of the following best defines variables in an optimization model?

They are unknown values that the model seeks to determine

Which of the following statements is true of triangular distribution?

This distribution depends on three parameters that one can easily identify based on managerial knowledge and judgment.

A random number seed is a value from which a stream of random numbers is generated.

True

A value randomly generated from a specified probability distribution is called a random variate.

True

An optimization lotal has the following elements 1) decision variables, 2) an objective to maximize or minimize, and 3) constraints.

True

As Monte Carlo simulation is essentially statistical sampling, the larger number of trials use, the more precise the result is.

True

Assume that (x=1, y=2, z=0) is the optimal solution of an optimization problem. Constraint 2x + y + 4z is a binding constraint.

True

Constraints our limitations, requirements, or other instructions that are imposed on any solution, either from practical of technological considerations or by management policy.

True

The cash budget shows the monthly cash balances and any short-term borrowing to cover cash shortfalls.

True

The feasible region is the set of all possible points of an optimization problem as satisfies the problems constraints.

True

The silver answer report provides basic information about the solution including time is it regional an optimal objective function and decision variables.

True

Uniform or triangular distributions are used in the absence of data.

True

When useful excel tall is that data validation feature, which allows you to identify acceptable input values in spreadsheet and provides an error alert if an invalid entry is made.

True

Supposed that an optimization problem has the following constraints which of the following is a feasible solution? 2x + y <=4 3x + y = 3

X=1, y=0

Alternate optimal solutions exist when

any of the allowable increase or allowable decrease values for changing cells are zero

Which decision model incorporates the uncertainty element?

predictive

If a model has alternative optimal solutions

the objective is maximized or minimized by more than one combination of decision variables

When will a company use a predictive decision model?

when it wishes to know sales patterns to plan inventory levels