MSIS 3223 Exam 1 Exam Questions With Correct Answers
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Course
MSIS 3223
Institution
MSIS 3223
MSIS 3223 Exam 1 Exam Questions With
Correct Answers
_____ in formulas can be written with either relative addresses or absolute addresses. -
answerCell references
A(n) _____ address uses just the row and column label in the cell reference (for example A4 or
C23). - answerRelative
A(n) _____ ...
MSIS 3223 Exam 1 Exam Questions With
Correct Answers
_____ in formulas can be written with either relative addresses or absolute addresses. -
answer✔✔Cell references
A(n) _____ address uses just the row and column label in the cell reference (for example A4 or
C23). - answer✔✔Relative
A(n) _____ address uses a dollar sign ($) before either the row or column or both ($A2, C$23, or
$B$15). - answer✔✔Absolute
Using a dollar sign ($) before a row label (for example _____) keeps the reference fixed to row 4
but allows the column reference to change if the formula is copied to another cell. -
answer✔✔B$4
Using a dollar sign ($) before both the row and column (for example _____) will keep the
reference fixed for both the row and column. - answer✔✔$B$4
The easiest way to locate a particular function is to select a cell and click the _____ function
button (fx) which can be found under the ribbon next to the formula bar. - answer✔✔Insert
Function in Excel:
finds the smallest value in a range of cells. - answer✔✔MIN(range)
Function in Excel:
finds the largest value in a range of cells. - answer✔✔MAX(range)
Function in Excel:
finds the sum of values in a range of cells. - answer✔✔SUM(range)
Function in Excel:
finds the average of the values in a range of cells. - answer✔✔AVERAGE(range)
Function in Excel:
finds the number of cells in a range that contains numbers. - answer✔✔COUNT(range)
Function in Excel:
EXAM STUDY MATERIALS July 26, 2024 9:30 AM
, finds the number of cells within a range that meet a specified criterion. -
answer✔✔COUNTIF(range, criteria)
Measures the worth of a stream of cash flows, taking into account the time value of money. -
answer✔✔Net Present Value (NPV)
The _____ reflects the opportunity costs of spending funds now versus achieving a return
through another investment, as well as the risks associated with not receiving returns until a later
time. - answer✔✔Discount Rate
A _____ means that the investment will provide added value because the projected return
exceeds the discount rate. - answer✔✔positive NPV
The most commonly used and most-well understood type of analytics. Summarizes data into
meaningful charts & reports, for example, about budgets, sales, revenues, or cost. -
answer✔✔Descriptive Analytics
Seeks to predict the future by examining historical data, detecting patterns or relationships in
these data, & then extrapolating these relationships forward in time. - answer✔✔Predictive
Analytics
Uses optimization to identify the best alternatives to minimize or maximize some objective. -
answer✔✔Prescriptive Analytics
Many _____ models can be formalized using a model. - answer✔✔decision
A _____ is an abstraction or representation of a real system, idea, or object. They capture the
most important feature of a problem & present them in a form that is easy to interpret. -
answer✔✔Model
A model can be as simple as a written or verbal _____ of some phenomenon, a visual
representation (visual model) such as a graph or flowchart, or a mathematical or spreadsheet
representation. - answer✔✔description
The 3 types of input in a Decision Model: - answer✔✔1. Data
2. Uncontrollable inputs
3. Decision options
Assumed to be constant for purposes of the decision model. - answer✔✔Data
Quantities that can change but cannot be directly controlled by the decision maker. -
answer✔✔Uncontrollable inputs
Controllable, and can be selected at the discretion of the decision maker. They are often called
decision variables. - answer✔✔Decision options
EXAM STUDY MATERIALS July 26, 2024 9:30 AM
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