Exam (elaborations)
MSIS 3223 Exam 1 (Appendix A1, Ch. 1-4) WITH 100- SURE ANSWERS
- Course
- Institution
MSIS 3223 Exam 1 (Appendix A1, Ch. 1-4) WITH 100- SURE ANSWERS
[Show more]
Seller
Follow
Content preview
EUNICEEMSIS 3223 Exam 1 (Appendix A1, Ch. 1-4)WITH 100% SURE
ANSWERSE
Terms in this set (103)
Cell references ___ in formulas can be written with either relative addresses or absolute addresses.
A(n) __ address uses just the row and column label in the cell reference (for
Relative
example A4 or C23).
A(n) __ address uses a dollar sign ($) before either the row or column or both ($A2,
Absolute
C$23, or $B$15).
Using a dollar sign ($) before a row label (for example ___ ) keeps the reference
B$4 fixed to row 4 but allows the column reference to change if the formula is copied to
another cell.
Using a dollar sign ($) before both the row and column (for example ____ ) will keep
$B$4
the reference fixed for both the row and column.
The easiest way to locate a particular function is to select a cell and click the _____
Insert
function button (fx) which can be found under the ribbon next to the formula bar.
Function in Excel:
MIN(range)
finds the smallest value in a range of cells.
Function in Excel:
MAX(range)
finds the largest value in a range of cells.
Function in Excel:
SUM(range)
finds the sum of values in a range of cells.
Function in Excel:
AVERAGE(range)
finds the average of the values in a range of cells.
Function in Excel:
COUNT(range)
finds the number of cells in a range that contains numbers.
Function in Excel:
COUNTIF(range, criteria)
finds the number of cells within a range that meet a specified criterion.
Measures the worth of a stream of cash flows, taking into account the time value of
Net Present Value (NPV)
money.
The ___ reflects the opportunity costs of spending funds now versus achieving a
Discount Rate return through another investment, as well as the risks associated with not receiving
returns until a later time.
1/5
, A ___ means that the investment will provide added value because the projected
positive NPV
return exceeds the discount rate.
The most commonly used and most-well understood type of analytics. Summarizes
Descriptive Analytics data into meaningful charts & reports, for example, about budgets, sales, revenues,
or cost.
Seeks to predict the future by examining historical data, detecting patterns or
Predictive Analytics
relationships in these data, & then extrapolating these relationships forward in time.
Uses optimization to identify the best alternatives to minimize or maximize some
Prescriptive Analytics
objective.
decision Many____ models can be formalized using a model.
A ___ is an abstraction or representation of a real system, idea, or object. They
Model capture the most important feature of a problem & present them in a form that is
easy to interpret.
A model can be as simple as a written or verbal ____ of some phenomenon, a visual
description representation (visual model) such as a graph or flowchart, or a mathematical or
spreadsheet representation.
1. Data The 3 types of input in a Decision Model:
2. Uncontrollable inputs
3. Decision options
Data Assumed to be constant for purposes of the decision model.
Uncontrollable inputs Quantities that can change but cannot be directly controlled by the decision maker.
Controllable, and can be selected at the discretion of the decision maker. They are
Decision options
often called decision variables.
Explain behavior & allow users to evaluate potential decisions by asking "what-if?"
Descriptive Models questions. They describe relationships allowing a manager to make a decision,
without telling a manager what to do.
Predictive Models Focus on what will happen in the future.
Help decision makers identify the best solution to decision problems. They use
Prescriptive Models optimization - the process of finding a set of values for decision options that
minimize or maximize some quantity of interest.
help managers solve problems & make The fundamental purpose of analytics is to
decisions.
1. Recognizing the problem Phases of problem solving:
2. Defining the problem
3. Structuring the problem
4. Analyzing the problem
5. Interpreting results & making a decision
Logical ___ functions depend on whether one or more conditions are true or false.
condition A ___ is a statement about the value of a cell, either numeric or text.
Function in Excel:
IF(condition, value if true, value if false) a logical function that returns one value if the condition is true & another if the
condition is false.
Function in Excel:
AND(condition 1, condition 2...)
a logical function that returns TRUE if all conditions are true and FALSE if not.
Function in Excel:
OR(condition 1, condition 2...)
a logical function that returns TRUE if any condition is true and FALSE if not.
2/5
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 mbitheeunice2015. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81311 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now