MSIS 3223 EXAM QUESTIONS WITH CORRECT ANSWERS
LATEST UPDATE
C = F + VQ
descriptive model of variable cost
demand
influences profit by predicting how many units of a product will be sold
quantity produced
a decision option typically based on demand
profit
revenue - cost
calculate net income
total revenues - total expenses
calculate gross profit
sales - cost of goods sold
calculate operating expenses
sum of operating expenses
calculate net operating income
revenue - operating expenses
calculate earning before taxes (EBT)
revenue - expenses
excluding taxes
calculate net income value
total revenue - total expenses
predictive decision models
focus on understanding the future, involve multiple time periods, use the uncertainty
element, focus on predicting financial performance, customer retention, and product
sales
optimization models
used in operations, supply chains, finance, and marketing, finds the min or max of some
interest, the most important tool in prescriptive analytics
constraint
limitations, requirements, or other restrictions that are imposed on any solution, either
from practical or technological considerations or by management policy
Which of these is not a category for constraints?
- simple bounds
- limitations
- requirements
- proportional relationships
- balance constraints
none, they are all categories for constraints
calculate gross margin
(revenue - COGS)/COGS
LATEST UPDATE
C = F + VQ
descriptive model of variable cost
demand
influences profit by predicting how many units of a product will be sold
quantity produced
a decision option typically based on demand
profit
revenue - cost
calculate net income
total revenues - total expenses
calculate gross profit
sales - cost of goods sold
calculate operating expenses
sum of operating expenses
calculate net operating income
revenue - operating expenses
calculate earning before taxes (EBT)
revenue - expenses
excluding taxes
calculate net income value
total revenue - total expenses
predictive decision models
focus on understanding the future, involve multiple time periods, use the uncertainty
element, focus on predicting financial performance, customer retention, and product
sales
optimization models
used in operations, supply chains, finance, and marketing, finds the min or max of some
interest, the most important tool in prescriptive analytics
constraint
limitations, requirements, or other restrictions that are imposed on any solution, either
from practical or technological considerations or by management policy
Which of these is not a category for constraints?
- simple bounds
- limitations
- requirements
- proportional relationships
- balance constraints
none, they are all categories for constraints
calculate gross margin
(revenue - COGS)/COGS
