100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MSIS 3223 Final Exam Questions & Answers(RATED A+) $13.09   Add to cart

Exam (elaborations)

MSIS 3223 Final Exam Questions & Answers(RATED A+)

 1 view  0 purchase
  • Course
  • MSIS 3223 F
  • Institution
  • MSIS 3223 F

Variable Cost - ANSWERUnit Variable Cost * Quantity Produced Total Cost - ANSWERFixed Cost + Variable Cost * Quantity Produced (Also written as C=F+VQ) p. 380 Logic suggests that variable cost is... - ANSWERthe unit variable cost times the quantity of item produced. Demand has an influe...

[Show more]

Preview 2 out of 8  pages

  • November 1, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MSIS 3223 F
  • MSIS 3223 F
avatar-seller
papersbyjol
MSIS 3223 Final Exam Questions &
Answers(RATED A+)
Variable Cost - ANSWERUnit Variable Cost * Quantity Produced



Total Cost - ANSWERFixed Cost + Variable Cost * Quantity Produced



(Also written as C=F+VQ) p. 380



Logic suggests that variable cost is... - ANSWERthe unit variable cost times the quantity of item
produced.



Demand has an influence on... - ANSWERprofit



- by predicting how many units of a product will be sold



-Quantity produced is a decision option typically based on demand.



Quantity Produced - ANSWERa decision option typically based on demand.



The Spreadsheet model for Profit - ANSWERRevenue - variable cost - fixed cost



(Profit = Revenue - Variable Cost - Fixed Cost)



p. 383



One-way data tables - ANSWERMultiple outputs may be evaluated using one way data tables.



For example, profit and revenue.



Two-way data tables - ANSWERcan evaluate only one output variable

, - To evaluate multiple output variables, you must construct multiple two-way tables.



p 408-410



Calculations/Formulas based on an Example Spreadsheet - ANSWER•Identify the formula to calculate
net income based on the data values shown on the spreadsheet?

•Identify the formula which would be used to calculate the gross profit using only the data values in
the spreadsheet?

•Identify the formula which would be used to calculate the operating expenses using only the data
values in the spreadsheet?

•Identify the formula which would be used to calculate the net operating income using only the
model values in the spreadsheet?

•Identify the formula which would be used to calculate earnings before taxes using both the data
and model values in the spreadsheet?

•Identify the formula which would be used to calculate the net income value using information in
both the data and model sections in the spreadsheet?





Predictive models focus on... - ANSWERunderstanding the future.



Practical business models focus on... - ANSWERpredicting financial performance, customer retention,
and product sales.



Sales levels are often used to plan... - ANSWERinventory levels



Predictive models usually involve... - ANSWERmultiple time periods



Predictive models incorporate the... - ANSWERuncertainty element



Optimization - ANSWERthe process of selecting values of decision variables that minimize or
maximize some quantity of interest.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller papersbyjol. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.09. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82191 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.09
  • (0)
  Add to cart