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MSIS 3223 Exam 1 (Appendix A1, Ch. 1-4)
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MSIS 3223 Exam 1 (Appendix A1, Ch. 1-4)
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MSIS 3223 Exam 1 (Appendix A1, Ch.1-4)
Cell references - -_____ in formulas can be written with either relative
addresses or absolute addresses.
- Relative - -A(n) _____ address uses just the row and column label in the cell
reference (for example A4 or C23).
- Absolute - -A(n) _____ address uses a dollar sign ($) before either the row
or column or both ($A2, C$23, or $B$15).
- B$4 - -Using a dollar sign ($) 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.
- $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.
- Insert - -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.
- MIN(range) - -Function in Excel:
finds the smallest value in a range of cells.
- MAX(range) - -Function in Excel:
finds the largest value in a range of cells.
- SUM(range) - -Function in Excel:
finds the sum of values in a range of cells.
- AVERAGE(range) - -Function in Excel:
finds the average of the values in a range of cells.
- COUNT(range) - -Function in Excel:
finds the number of cells in a range that contains numbers.
- COUNTIF(range, criteria) - -Function in Excel:
finds the number of cells within a range that meet a specified criterion.
- Net Present Value (NPV) - -Measures the worth of a stream of cash flows,
taking into account the time value of money.
, - Discount Rate - -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.
- positive NPV - -A _____ means that the investment will provide added value
because the projected return exceeds the discount rate.
- Descriptive Analytics - -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.
- Predictive Analytics - -Seeks to predict the future by examining historical
data, detecting patterns or relationships in these data, & then extrapolating
these relationships forward in time.
- Prescriptive Analytics - -Uses optimization to identify the best alternatives
to minimize or maximize some objective.
- decision - -Many _____ models can be formalized using a model.
- Model - -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.
- description - -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.
- 1. Data
2. Uncontrollable inputs
3. Decision options - -The 3 types of input in a Decision Model:
- 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.
- Decision options - -Controllable, and can be selected at the discretion of
the decision maker. They are often called decision variables.
- Descriptive Models - -Explain behavior & allow users to evaluate potential
decisions by asking "what-if?" 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.
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