Spreadsheet Modeling for Managers Exam Review
Course Introduction
Spreadsheet Modeling for Managers is designed to equip students with practical skills for solving real-world business problems using spreadsheets. The course covers fundamental and advanced techniques in Excel, focusing on data analysis, scenario planning, optimization, and decision support. Emphasis is placed on constructing robust models that aid managerial decision-making in areas such as finance, operations, and marketing. Through hands-on projects and case studies, students develop proficiency in tools including formulas, pivot tables, what-if analysis, and Solver, fostering the ability to present clear and actionable insights for effective management.
Recommended Textbook
Managerial Decision Modeling with Spreadsheets 3rd Edition by Nagraj Balakrishnan
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12 Chapters
583 Verified Questions
583 Flashcards
Source URL: https://quizplus.com/study-set/974
2
Chapter 1: Introduction to Managerial Decision Making
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41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/19243
Sample Questions
Q1) If all the values of the input variables in a decision model are random in nature,then the model is considered to be probabilistic.
A)True
B)False
Answer: True
Q2) A decision model has the following input variables: projected sales data and historical advertising budget.This model is considered to be deterministic.
A)True
B)False
Answer: False
Q3) If a decision model has one variable with a certain/deterministic input value and another variable with a random/probabilistic input,then the outcome of this model which is based on both variables will be probabilistic.
A)True
B)False
Answer: True
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Chapter 2: Linear Programming Models: Graphical and Computer Methods
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48 Verified Questions
48 Flashcards
Source URL: https://quizplus.com/quiz/19244
Sample Questions
Q1) It is possible for a linear programming model to yield an optimal solution that has fractional values.
A)True
B)False
Answer: True
Q2) Refer to Figure 1.What formula should be entered in cell D9 to compute the amount of resource 2 that is consumed?
A)=B9*D9 + C9*D9
B)=SUMPRODUCT(B2:C2,B9:C9)
C)=SUM(B9:C9)
D)=SUMPRODUCT(B3:C3,B9:C9)
E)=SUMPRODUCT(B9:C9,B5:C5)
Answer: D
Q3) "Solver" typically generates which of the following report(s)?
A)answer report
B)sensitivity analysis report
C)limits report
D)A and B only
E)A,B,and C
Answer: E
Page 4
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Chapter 3: Linear Programming Modeling Applications with Computer Analyses in Excel
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49 Verified Questions
49 Flashcards
Source URL: https://quizplus.com/quiz/19245
Sample Questions
Q1) A factory operates 7 days a week.Due to labor union regulations,employees are allowed to work a maximum of 5 consecutive days.The minimum number of employees that are needed on a given day is provided as follows:
\[\begin{array} { l c }
\text { Day } & \text { Number of Employees Needed } \\
\hline \text { Sunday } & 20 \\
\text { Monday } & 30 \\
\text { Tuesday } & 35 \\
\text { Wednesday } & 40 \\
\text { Thursday } & 37 \\
\text { Friday } & 30 \\
\text { Saturday } & 25
\end{array}\]
Use Excel to formulate and solve this labor planning problem to determine the minimum number of employees needed each day.
Answer: 11ea3b58_9b44_597e_ba0c_f92f88de8d6b_TB1469_00
Q2) Refer to the table above.Use Excel to model and solve this problem to determine the least costly job-machine assignment.
Answer: 11ea3b58_9b41_c15a_ba0c_8bd9f5387718_TB1469_00
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Chapter 4: Linear Programming Sensitivity Analysis
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44 Verified Questions
44 Flashcards
Source URL: https://quizplus.com/quiz/19246
Sample Questions
Q1) A constraint right-hand side value is increased within its allowable increase value.The shadow price for this constraint will still be valid.
A)True
B)False
Q2) By how much would the profit contribution of product A has to increase before it will be profitable to produce A?
A)$20
B)$0
C)$1E+30
D)$132.5
E)$10
Q3) In pricing out a new variable,the worth or value of resources consumed is typically measured by:
A)reduced costs
B)the 100% rule
C)shadow prices
D)slack values
E)surplus values
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Chapter 5: Transportation, Assignment, and Network Models
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37 Verified Questions
37 Flashcards
Source URL: https://quizplus.com/quiz/19247
Sample Questions
Q1) Refer to the network above and its associated spreadsheet.
a.What equation should be entered in cell B23?
b.What equation should be entered in cell B27?
c.What equation should be entered in cell I4?
Q2) In a maximal flow problem,the flow capacity on the dummy arc connecting the destination node to the source node should be set to a very large value.
A)True
B)False
Q3) It is possible to solve small assignment problems by enumerating all possible outcomes rather than modeling them as linear programming problems.
A)True
B)False
Q4) Refer to the figure.What is the constraint associated with node 1?
A)X + X - X - X = -1
B)X + X - X - X = +1
C)X + X - X - X =0
D)X + X = 0
E)-X + X = -1
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Chapter 6: Integer, Goal, and Nonlinear Programming Models
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55 Verified Questions
55 Flashcards
Source URL: https://quizplus.com/quiz/19248
Sample Questions
Q1) An NLP model can have both local and global optimal solutions.
A)True
B)False
Q2) Consider the following objective function with prioritized goals: Min: R (d )+ R (d ).
This implies that goal 2 is of higher rank than goal 1.
A)True
B)False
Q3) When an objective function contains squared terms,and the problem's constraints are linear,it is referred to as a quadratic programming problem.
A)True
B)False
Q4) A goal programming problem assumes that its objective function and constraints are linear.
A)True
B)False
Q5) Determine which set of projects should be selected in order to achieve the maximum net present value if the decision maker has $150,000 available for investment each year.
8
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Chapter 7: Project Management
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52 Verified Questions
52 Flashcards
Source URL: https://quizplus.com/quiz/19249
Sample Questions
Q1) Refer to the figure.What is the critical path?
A)ABDF
B)ABEF
C)ACDF
D)ACEF
E)none of the above
Q2) Which of the following statements about project crashing is False?
A)The overall project time is reduced by crashing activities on one or more critical paths.
B)It is best to crash an activity with the cheapest cost to crash per week.
C)As activities are crashed in a project network,it is possible for more than one path to be critical.
D)In order to reduce the overall project time,it may be necessary to crash more than one activity.
E)Project crashing problems can be solved using linear programming.
Q3) Project scheduling is the phase that involves identifying required resources and precedence relationships between activities.
A)True
B)False
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9
Chapter 8: Decision Analysis
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53 Verified Questions
53 Flashcards
Source URL: https://quizplus.com/quiz/19250
Sample Questions
Q1) The EMV that a person is willing to give up in order to avoid the risk associated with a gamble is referred to as the ________.
A)risk premium
B)certainty equivalent
C)EVPI
D)EVwPI
E)EVSI
Q2) Refer to the payoff table.Using the criterion of realism and an alpha value of 0.7,what would be the highest expected payoff?
A)$127
B)$119.5
C)$98.5
D)$116
E)$145
Q3) The expected opportunity loss (EOL)will always result in the same decision as the maximum expected monetary value (EMV).
A)True
B)False
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10
Chapter 9: Queuing Models
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47 Verified Questions
47 Flashcards
Source URL: https://quizplus.com/quiz/19251
Sample Questions
Q1) Refer to the information above.Calculate the operating characteristics of the queuing system at Speedy Lube.What is the probability that an arriving customer will have to wait for service?
Q2) One of the M/M/1 queuing model assumptions is that the average number of arrivals (the arrival rate)does not change over time.
A)True
B)False
Q3) As service levels increase,the cost of providing service also increases,but the cost of customer dissatisfaction decreases.
A)True
B)False
Q4) Refer to the table.What percent of the time is the server busy?
A)10%
B)33%
C)23%
D)70%
E)30%
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11
Chapter 10: Simulation Modeling
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54 Verified Questions
54 Flashcards
Source URL: https://quizplus.com/quiz/19252
Sample Questions
Q1) Refer to the table.What is the appropriate distribution for the variable "Monthly operating costs"?
A)continuous uniform
B)discrete uniform
C)normal
D)binomial
E)triangular
Q2) For the daily lottery in a given state,participants select three numbers between 0 and 9.You feel lucky and buy 1000 tickets from a 7-Eleven store.Suppose that the winning number is 999.Using Crystal Ball,simulate the outcomes of 1000 tickets to compute the odds of winning the lottery.Note that it is possible for 2 or more of your tickets to have the winning numbers.
Q3) A Decision Table is used in Excel to try at most 2 values automatically for a parameter in the model.
A)True
B)False
Q4) The probability that a sniper hits his target is 80%.If three snipers aim at the same target,use Crystal Ball to compute the odds that all three snipers will hit their target.Use 1000 replications.
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Chapter 11: Forecasting Models
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64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/19253
Sample Questions
Q1) "Blips" in the data that follow no discernible pattern are referred to as
A)trend
B)random variations
C)seasonality
D)cycles
E)stationary variations
Q2) In general,the higher the value of the coefficient of determination R²,the better the fit of the regression model.
A)True
B)False
Q3) Refer to the table above.
a.What is the linear trend equation that best fits the data?
b.What is the forecast of the number of immigrants in 2002 using the linear trend equation?
c.What is the MAPE for this method?
Q4) Refer to the table above.Using Solver to find the optimal alpha that minimizes MAD,use exponential smoothing to forecast the number of immigrants in 2002.
Q5) Refer to the table above.Using a multiplicative decomposition model,forecast ice cream sales for the next three days.
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Chapter 12: Inventory Control Models
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/19254
Sample Questions
Q1) Refer to the information above.What is the total cost of ordering and carrying sugar?
A)$50
B)$100
C)$25
D)$1000
E)$500
Q2) The EPQ model is primarily concerned with the timing of orders.
A)True
B)False
Q3) When demand is constant,the Reorder point (ROP)is a function of demand and lead time.
A)True
B)False
Q4) Spoilage is considered to be a part of carrying cost.
A)True
B)False
Q5) Quantity discounts give customers a price incentive to buy in larger quantities. A)True
B)False
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