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MSIS 3223 Final Exam (Ch. 11, 13, 14) – UPDATE(GRADED A+) $13.49
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MSIS 3223 Final Exam (Ch. 11, 13, 14) – UPDATE(GRADED A+)
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requirements - ANSWERProblem statements such as production must be sufficient to meet promised customer orders would be categorized as a ________ constraint. Unit Variable Cost * Quantity Produced - ANSWERVariable Cost = Fixed Cost + Variable Cost * Quantity Produced - ANSWERTotal Cost = D...

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  • November 2, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
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  • msis 3223 final exam ch
  • msis 3223 final exam stuvia 2024
  • requirements answerproblem statements such as p
  • unit variable cost quantity produced answerva

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MSIS 3223 Final Exam (Ch. 11, 13, 14) –
2022-2024 UPDATE(GRADED A+)

requirements - ANSWERProblem statements such as production must be sufficient to meet promised
customer orders would be categorized as a ________ constraint.



Unit Variable Cost * Quantity Produced - ANSWERVariable Cost =



Fixed Cost + Variable Cost * Quantity Produced - ANSWERTotal Cost =



Demand - ANSWER_____ has an influence on profit by predicting how many units of a product will
be sold. Quantity produced is a decision option typically based on this.



= Revenue - Variable Cost - Fixed Cost - ANSWERThe spreadsheet model for Profit is =



One way data tables - ANSWERMultiple outputs may be evaluated using _____. For example, profit
and revenue.



Two way data tables - ANSWER_____ can evaluate only one output variable. To evaluate multiple
output variables, you must construct a multiple of these.



Predictive - ANSWER_____ models focus on understanding the future.



Practical business - ANSWER_____ models focus on predicting financial performance, customer
retention, and product sales.



Sales - ANSWER_____ levels are often used to plan inventory levels.



Time periods - ANSWERPredictive models usually involve multiple _____.



Uncertainty element - ANSWERPredictive models incorporate the _____.

, Optimization models - ANSWER_____ have been used extensively in operations and supply chains,
finance, marketing, and other disciplines.



Optimization - ANSWERThe process of selecting values of decision variables that minimize or
maximize some quantity of interest.



Objective function - ANSWER_____ is the quantity that is to be minimized or maximized.



Prescriptive Analytics - ANSWEROptimization is the most important tool in _____.



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



Simple bounds - ANSWERConstraints generally fall into one of the following categories:

_____ constrain the value of a single variable.



Scarce resoruces - ANSWERConstraints generally fall into one of the following categories:

Limitations usually involve the allocation of _____.



zero - ANSWERThe value of Integer Tolerance should be _____ in order to find the guaranteed
optimal integer solution.



Linear optimization - ANSWERMany types of financial investment problems are modeled and solved
using _____.



Numerical instability - ANSWERA poorly scaled 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 "_____."



minimum - ANSWERConstraints generally fall into one of the following categories:

Requirements involve the specification of _____ levels of performance.

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