100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MSIS 3223 Final Exam Review OKST (Nord) Questions & Answers 100% $13.49   Add to cart

Exam (elaborations)

MSIS 3223 Final Exam Review OKST (Nord) Questions & Answers 100%

 1 view  0 purchase
  • Course
  • MSIS 3223 OKST
  • Institution
  • MSIS 3223 OKST

Variable cost = ? - ANSWERUnit Variable Cost * Quantity Produced Total Cost = - ANSWERFixed Cost + Variable Cost* Quantity Produced Also written as C=F+VQ Logic suggests that variable cost is the unit variable cost times the quantity of item produced. Thus a ____________ would be - ANSWERdes...

[Show more]

Preview 2 out of 5  pages

  • November 2, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MSIS 3223 OKST
  • MSIS 3223 OKST
avatar-seller
papersbyjol
MSIS 3223 Final Exam Review OKST
(Nord) Questions & Answers 100%
Variable cost = ? - ANSWERUnit Variable Cost * Quantity Produced



Total Cost = - ANSWERFixed Cost + Variable Cost* Quantity Produced

Also written as C=F+VQ



Logic suggests that variable cost is the unit variable cost times the quantity of item produced. Thus a
____________ would be - ANSWERdescriptive model



_______has an influence on profit by predicting how many units of a product will be
sold.______________produced is a decision option typically based on demand. - ANSWER1) Demand

2) Quantity



The spreadsheet model for _____ is revenue minus variable cost minus fixed cost. - ANSWER1)Profit

Profit= Revenue-Variable cost-fixed cost



Multiple outputs may be evaluated using _______________. For example, profit and revenue. -
ANSWERone way data tables



_____________can evaluate only one output variable. To evaluate multiple output variables, you
must construct ___________________. - ANSWER1)Two-way tables

2)multiple two-way tables



___________focus on understanding the future. - ANSWERPredictive Models



______________focus on predicting financial performance, customer retention, and product sales. -
ANSWERPractical business models



____________are often used to plan inventory sales. - ANSWERSales levels

, ___________usually involve multiple time periods. - ANSWERPredictive models



______________incorporate the uncertainty element. - ANSWERPredictive models



_______________ have benn used extensively in operations and supply chains, finance, marketing,
and other disciplines. - ANSWEROptimization Models



__________is the process of selecting values of decision variables that minimize or maximize some
quantity of interest. - ANSWEROptimization



________is the quantity that is to be minimized or maximized. - ANSWERObjective Function



Optimization is the most important tool in _____________. - ANSWERPrescriptive Analytics



_____________ are limitations, requirements, or other restrictions that are imposed on any solution,
either from practical or technological considerations or by management policy. - ANSWERConstraints



Many types of financial investment problems are modeled and solved using ______. - ANSWERlinear
optimization



A _________ model is one that computes values of the objective, constraints, or intermediate results
that differ by several orders of magnitude. As a result, Solver may detect or suffer from
"_______________." - ANSWER1) Poorly Scaled

2)Numerical Instability



an add-in package with Excel that was developed by Frontline Systems Inc. and can be used to solve
many different types of optimization problems. - ANSWERSolver



____________is the parameter that specifies when the Solver algorithm will terminate an
optimization process with integer constraints. - ANSWERInteger Tolerance



The value of Integer Tolerance should be _______ in order to find the guaranteed optimal integer
solution. - ANSWERZero

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 papersbyjol. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82191 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart