MSIS 3223 EXAM 1 QUESTIONS AND
ANSWERS FOR REVISION
Which of the following ways would 10 raised to the
power of 2 x 5 raised to the power of 3/100 - 73 be
represented in an excel spreadsheet?
10^2^5^ - 73
Which of the following is a difference between relative
addressing and absolute addressing when using cell
formulas in excel?
A relative address uses just the row and column label in
the cell reference; an absolute address uses a dollar sign
before either the row or column label
To copy a formula from a single cell or range of cells
down a column or across a row, first _________, click
and hold the mouse on the small square in the lower
right hand corner of the cell, and drag the formula to
the "target" cells which you wish to copy.
Select the cell or range
The easiest way to locate a particular function is to
select a cell and click on the Insert function button
represented by ___________ on the Excel ribbon.
fx
The Excel function of _________ is used to find the
largest value in a range of cells.
MAX(range)
___________ measures the worth of a stream of cash
flows, taking into account the time value of money.
, Net present value
Descriptive analytics:
helps companies classify their customers into segments to
develop specific marketing campaigns
Predictive analytics:
detects patterns in historical data and extrapolates then
foward in time
Which of the following question will prescriptive
analytics help a company address?
What is the best way of shipping goods from their factories
to minimize costs?
The demand for coffee beans over a period of three
months has been represented in the form of an L
shaped curve. Which form of model was used here?
visual model
Decision variables:
can be selected at the discretion of the decision maker
Descriptive decision models:
describe relationships but do not tell a manager what to do
Prescriptive decision models help:
decision makers identify the best solution to decision
problems
Which decision model incorporates the process of
optimization?
prescriptive
Which of the following is the first phase in problem
solving?
recognizing the problem
During which phase in problem solving is a formal
model often developed?
structuring the problem
ANSWERS FOR REVISION
Which of the following ways would 10 raised to the
power of 2 x 5 raised to the power of 3/100 - 73 be
represented in an excel spreadsheet?
10^2^5^ - 73
Which of the following is a difference between relative
addressing and absolute addressing when using cell
formulas in excel?
A relative address uses just the row and column label in
the cell reference; an absolute address uses a dollar sign
before either the row or column label
To copy a formula from a single cell or range of cells
down a column or across a row, first _________, click
and hold the mouse on the small square in the lower
right hand corner of the cell, and drag the formula to
the "target" cells which you wish to copy.
Select the cell or range
The easiest way to locate a particular function is to
select a cell and click on the Insert function button
represented by ___________ on the Excel ribbon.
fx
The Excel function of _________ is used to find the
largest value in a range of cells.
MAX(range)
___________ measures the worth of a stream of cash
flows, taking into account the time value of money.
, Net present value
Descriptive analytics:
helps companies classify their customers into segments to
develop specific marketing campaigns
Predictive analytics:
detects patterns in historical data and extrapolates then
foward in time
Which of the following question will prescriptive
analytics help a company address?
What is the best way of shipping goods from their factories
to minimize costs?
The demand for coffee beans over a period of three
months has been represented in the form of an L
shaped curve. Which form of model was used here?
visual model
Decision variables:
can be selected at the discretion of the decision maker
Descriptive decision models:
describe relationships but do not tell a manager what to do
Prescriptive decision models help:
decision makers identify the best solution to decision
problems
Which decision model incorporates the process of
optimization?
prescriptive
Which of the following is the first phase in problem
solving?
recognizing the problem
During which phase in problem solving is a formal
model often developed?
structuring the problem
