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BUAN 3066 - Final Exam with complete verified solutions
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BUAN 3066 - Final Exam with complete verified solutions
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BUAN 3066 - Final Exam with complete verified solutions Three Steps in Building a Good Spreadsheet Model - answer 1. Create Influence Diagram2. Build Mathematical Model
3. Convey Model to Excel
What are the two parts of an Influence Diagram? - answer Parts of the Model --> Ovals, called "nodes"
Arrows connect them to show influence A decision variable is something that... - answer the decision-maker can control.
A parameter is... - answer an uncontrollable input in a model
Three principles of designing a good spreadsheet model - answer 1. Separate the Parameters from the Model
2. Document the model with formatting and color
3. Use simple formulas
A One-way data table... - answer summarizes a single input's impact on the output of interest
A T wo-way data table... - answer summarizes two inputs' impact on the output of interest
Goal Seek - answer Is for simple scenarios--find the value of the input cell that will cause the output cell to reach a specified "goal" value
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