MSIS Final Exam 3223 Ali Okstate Questions & Answers 100% Correct!!
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MSIS 3223 Ali Okstate
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MSIS 3223 Ali Okstate
The process of developing good, useful, and correct spreadsheet models is known as spreadsheet engineering
T/F - ANSWERTrue
In predictive modeling, validity refers to how well a model represents reality
T/F - ANSWERTrue
Two-way data tables can evaluate only one output variable
T/F - ANSWE...
MSIS Final Exam 3223 Ali Okstate
Questions & Answers 100% Correct!!
The process of developing good, useful, and correct spreadsheet models is known as spreadsheet
engineering
T/F - ANSWERTrue
In predictive modeling, validity refers to how well a model represents reality
T/F - ANSWERTrue
Two-way data tables can evaluate only one output variable
T/F - ANSWERTrue
Models can capture every detail of a real problem
T/F - ANSWERFalse
Verification is the process of ensuring that a model is accurate and free from logical errors
T/F - ANSWERTrue
Excel Formula Auditing tools (in the Formulas tab) help you validate the formulas and check for
errors
T/F - ANSWERTrue
One useful Excel tool is the data error feature, which allows you to define acceptable input values in
a spreadsheet and provides an error alert if an invalid entry is made
T/F - ANSWERFalse
A wide variety of practical problems in business analytics can be modeled using spreadsheets
T/F - ANSWERTrue
, Which of the following is a visual representation of a descriptive model that shows how the elements
of the model influence, or relate to, others?
Precedence diagram
Influence diagram
Scatter chart - ANSWERInfluence Diagram
Adding more realism to a model reduces its complexity
T/F - ANSWERFalse
T/F: as Monte Carlo simulation is essentially statistical sampling, the larger the number of trials used,
the more precise the results. - ANSWERTrue
T/F: Uniform or triangular distributions are used in the absence of data. - ANSWERTrue
T/F: Risk analysis seeks to examine the impact of uncertain inputs on various outputs. - ANSWERTrue
T/F: In the context of simulation, random numbers are numbers that are uniformly distributed
between 0 and 9. - ANSWERFalse
T/F: A value randomly generated from a specified probability distribution is called a random variate. -
ANSWERTrue
A constraint function is a function of the decision variables in the problem
T/F - ANSWERTrue
Any solution that satisfies all constraints of a problem is called a feasible solution
T/F - ANSWERTrue
A binding constraint is one for which the Cell Value is greater than the right-hand side of the value of
the constraint
T/F - ANSWERFalse
There are three types of organization models, linear, integer, and nonlinear
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