MSIS 3223 FINAL EXAM QUESTIONS WITH CORRECT
ANSWERS LATEST UPDATE
The Process of developing good, useful, and correct spreadsheet models is
known as spreadsheet engineering.
True
In predictive modeling, validity refers to how well a model represents reality.
True
Two-way data tables can evaluate only one output variable.
True
Models can capture every detail of a real problem.
False
Verification is the process of ensuring that a model is accurate and free from
logical errors
True
Excel Formula Auditing tools (in the Formulas tab) help you validate the formulas
and check for errors.
True
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.
False
A wide variety of practical problems in business analytics can be modeled using
spreadsheets.
True
There are currently no models to evaluate that net revenue under different
scenarios and overbooking policies.
False
The cash budget shows the daily cash balances and long-term forecasting
decisions.
False
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?
Influence diagram
Adding more realism to a model reduces its complexity.
False
A constraint function is a function of the decision variables in the problem
True
Any solution that satisfies all constraints of a problem is called a feasible
solution.
True
A binding constraint is one for which the Cell Value is greater than the right-hand
side of the value of the constraint.
False
ANSWERS LATEST UPDATE
The Process of developing good, useful, and correct spreadsheet models is
known as spreadsheet engineering.
True
In predictive modeling, validity refers to how well a model represents reality.
True
Two-way data tables can evaluate only one output variable.
True
Models can capture every detail of a real problem.
False
Verification is the process of ensuring that a model is accurate and free from
logical errors
True
Excel Formula Auditing tools (in the Formulas tab) help you validate the formulas
and check for errors.
True
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.
False
A wide variety of practical problems in business analytics can be modeled using
spreadsheets.
True
There are currently no models to evaluate that net revenue under different
scenarios and overbooking policies.
False
The cash budget shows the daily cash balances and long-term forecasting
decisions.
False
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?
Influence diagram
Adding more realism to a model reduces its complexity.
False
A constraint function is a function of the decision variables in the problem
True
Any solution that satisfies all constraints of a problem is called a feasible
solution.
True
A binding constraint is one for which the Cell Value is greater than the right-hand
side of the value of the constraint.
False
