Question 1

Revenue models that incorporate price elasticity are most likely to be ________.

Accepted Answer

A) linear functions 
B) polynomial functions 
C) power functions 
D) logarithmic functions 
A) linear functions 
B) polynomial functions 
C) power functions 
D) logarithmic functions

Question 2

The following spreadsheet shows demand and booking data for Toretto Car Rentals.Use the spreadsheet to answer the question(s)below.  
-What is the total number of customer arrivals?

Accepted Answer

A) 80 
B) 70 
C) 55 
D) 65 
A) 80 
B) 70 
C) 55 
D) 65

Question 3

The following spreadsheet shows the production and sales data for a particular product.Use the data to answer the question(s)below.  
-Mr.Wilson drives his car to work.He drives to work 20 days per month and 12.4 miles per day.If his car gets 24.0 miles per gallon in fuel economy,how many gallons of fuel are consumed per month?

Accepted Answer

A) 38.7 gallons 
B) 14.9 gallons 
C) 10.3 gallons 
D) 3.56 gallons 
A) 38.7 gallons 
B) 14.9 gallons 
C) 10.3 gallons 
D) 3.56 gallons

Question 4

What is the employee contribution at the age of 49?

Accepted Answer

A) $12,829 
B) $9,586 
C) $13,598 
D) $16,196 
A) $12,829 
B) $9,586 
C) $13,598 
D) $16,196

Question 5

The following spreadsheet shows the production and sales data for a particular product.Use the data to answer the question(s)below.  
-What is the profit generated by the company?

Accepted Answer

A) $280,000 
B) $980,000 
C) $1,260,000 
D) $540,000 
A) $280,000 
B) $980,000 
C) $1,260,000 
D) $540,000

Question 6

The following spreadsheet shows a simple outsourcing decision model of a company that sells shoes.Use the spreadsheet to answer the question(s)below.  
-What is the total manufacturing cost incurred by the company?

Accepted Answer

A) $525,000 
B) $675,000 
C) $600,000 
D) $450,000 
A) $525,000 
B) $675,000 
C) $600,000 
D) $450,000

Question 7

Below is a spreadsheet designed to calculate the project completion time.Use the spreadsheet to answer the following question(s).  
-What is the latest start time for Activity J?

Accepted Answer

A) 84 
B) 79 
C) 110 
D) 105 
A) 84 
B) 79 
C) 110 
D) 105

Question 8

The following spreadsheet illustrates a newsvendor model.Use the spreadsheet to answer the question(s)below.  
-What is the quantity of the product sold?

Accepted Answer

A) 3 
B) 60 
C) 57 
D) 117 
A) 3 
B) 60 
C) 57 
D) 117

Question 9

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below.  
-What is the total revenue generated at the end of the fourth year?

Accepted Answer

A) $1,330,300,612 
B) $1,112,291,482 
C) $930,009,600 
D) $1,591,039,532 
A) $1,330,300,612 
B) $1,112,291,482 
C) $930,009,600 
D) $1,591,039,532

Question 10

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below.  
-What is the cumulative net profit generated at the end of the first year?

Accepted Answer

A) $(153,894,400) 
B) $1,270,950,988 
C) $2,199,057,382 
D) $(696,400,000) 
A) $(153,894,400) 
B) $1,270,950,988 
C) $2,199,057,382 
D) $(696,400,000)

Question 11

Below is a spreadsheet designed to calculate the project completion time.Use the spreadsheet to answer the following question(s).  
-What is the value of slack for Activity C?

Accepted Answer

A) 25 
B) 40 
C) 15 
D) 55 
A) 25 
B) 40 
C) 15 
D) 55

Question 12

________ are data that are assumed to be constant for purposes of the model.

Accepted Answer

A) Investment returns 
B) Inflation rates 
C) Machine capacities 
D) Production quantities 
A) Investment returns 
B) Inflation rates 
C) Machine capacities 
D) Production quantities

Question 13

What is the total balance at the age of 38?

Accepted Answer

A) $148,663 
B) $202,830 
C) $271,210 
D) $126,036 
A) $148,663 
B) $202,830 
C) $271,210 
D) $126,036

Question 14

Which of the following functions is used when the rate of change in a variable increases or decreases quickly and then levels out,such as with diminishing returns to scale?

Accepted Answer

A) linear function 
B) exponential function 
C) power function 
D) logarithmic function 
A) linear function 
B) exponential function 
C) power function 
D) logarithmic function

Question 15

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below.  
-What is the quantity of sales generated in the first year?

Accepted Answer

A) 615,880 
B) 430,560 
C) 736,592 
D) 360,000 
A) 615,880 
B) 430,560 
C) 736,592 
D) 360,000

Question 16

The following spreadsheet illustrates a newsvendor model.Use the spreadsheet to answer the question(s)below.  
-How will the formula to calculate A17 be represented in B17?

Accepted Answer

A) B14   B5 + B15   B7 - B12   B6 
B) B14   B7 + B15   B4 - B12   B6 
C) B12   B6 + B15   B7 - B14   B5 
D) B15   B7 + B12   B5 - B14   B6 
A) B14   B5 + B15   B7 - B12   B6 
B) B14   B7 + B15   B4 - B12   B6 
C) B12   B6 + B15   B7 - B14   B5 
D) B15   B7 + B12   B5 - B14   B6

Question 17

The Excel ________ tool allows the creation of sets of values that are saved and can be substituted automatically on the worksheet.

Accepted Answer

A) Data Table 
B) Scenario Manager 
C) Goal Seek 
D) Auto Outline 
A) Data Table 
B) Scenario Manager 
C) Goal Seek 
D) Auto Outline

Question 18

Which of the following is considered a decision variable?

Accepted Answer

A) customer demand 
B) investment returns 
C) staffing level 
D) inflation rate 
A) customer demand 
B) investment returns 
C) staffing level 
D) inflation rate

Question 19

For small volumes,the cost to manufacture in-house will be lower than outsourcing.

Accepted Answer

A) True 
 B)False

Question 20

What is the value of the breakeven volume?

Accepted Answer

A) 214 
B) 60 
C) 500 
D) 1500 
A) 214 
B) 60 
C) 500 
D) 1500

Revenue models that incorporate price elasticity are most likely to be ________.

The following spreadsheet shows demand and booking data for Toretto Car Rentals.Use the spreadsheet to answer the question(s)below. -What is the total number of customer arrivals?

What is the employee contribution at the age of 49?

The following spreadsheet shows the production and sales data for a particular product.Use the data to answer the question(s)below. -What is the profit generated by the company?

The following spreadsheet shows a simple outsourcing decision model of a company that sells shoes.Use the spreadsheet to answer the question(s)below. -What is the total manufacturing cost incurred by the company?

Below is a spreadsheet designed to calculate the project completion time.Use the spreadsheet to answer the following question(s). -What is the latest start time for Activity J?

The following spreadsheet illustrates a newsvendor model.Use the spreadsheet to answer the question(s)below. -What is the quantity of the product sold?

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below. -What is the total revenue generated at the end of the fourth year?

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below. -What is the cumulative net profit generated at the end of the first year?

Below is a spreadsheet designed to calculate the project completion time.Use the spreadsheet to answer the following question(s). -What is the value of slack for Activity C?

________ are data that are assumed to be constant for purposes of the model.

What is the total balance at the age of 38?

Which of the following functions is used when the rate of change in a variable increases or decreases quickly and then levels out,such as with diminishing returns to scale?

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below. -What is the quantity of sales generated in the first year?

The following spreadsheet illustrates a newsvendor model.Use the spreadsheet to answer the question(s)below. -How will the formula to calculate A17 be represented in B17?

The Excel ________ tool allows the creation of sets of values that are saved and can be substituted automatically on the worksheet.

Which of the following is considered a decision variable?

For small volumes,the cost to manufacture in-house will be lower than outsourcing.

What is the value of the breakeven volume?

Data and Business Decisions

Descriptive Statistics and Data Analysis

Probability Concepts and Distributions

Sampling and Estimation

Hypothesis Testing and Statistical Inference

Regression Analysis

Forecasting

Introduction to Statistical Quality Control

Decision Models With Uncertainty and Risk

Decisions, uncertainty, and Risk

Queues and Process Simulation Modeling

Linear Optimization

Integer, nonlinear, and Advanced Optimization Methods

Filters

Exam 9: Building and Using Decision Models

Revenue models that incorporate price elasticity are most likely to be ________.

The following spreadsheet shows demand and booking data for Toretto Car Rentals.Use the spreadsheet to answer the question(s)below. -What is the total number of customer arrivals?

What is the employee contribution at the age of 49?

The following spreadsheet shows the production and sales data for a particular product.Use the data to answer the question(s)below. -What is the profit generated by the company?

The following spreadsheet shows a simple outsourcing decision model of a company that sells shoes.Use the spreadsheet to answer the question(s)below. -What is the total manufacturing cost incurred by the company?

Below is a spreadsheet designed to calculate the project completion time.Use the spreadsheet to answer the following question(s). -What is the latest start time for Activity J?

The following spreadsheet illustrates a newsvendor model.Use the spreadsheet to answer the question(s)below. -What is the quantity of the product sold?

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below. -What is the total revenue generated at the end of the fourth year?

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below. -What is the cumulative net profit generated at the end of the first year?

Below is a spreadsheet designed to calculate the project completion time.Use the spreadsheet to answer the following question(s). -What is the value of slack for Activity C?

________ are data that are assumed to be constant for purposes of the model.

What is the total balance at the age of 38?

Which of the following functions is used when the rate of change in a variable increases or decreases quickly and then levels out,such as with diminishing returns to scale?

The following spreadsheet shows financial data for Trance Electronics.Use the spreadsheet to answer the question(s)below. -What is the quantity of sales generated in the first year?

The following spreadsheet illustrates a newsvendor model.Use the spreadsheet to answer the question(s)below. -How will the formula to calculate A17 be represented in B17?

The Excel ________ tool allows the creation of sets of values that are saved and can be substituted automatically on the worksheet.

Which of the following is considered a decision variable?

For small volumes,the cost to manufacture in-house will be lower than outsourcing.

What is the value of the breakeven volume?

Data and Business Decisions

Descriptive Statistics and Data Analysis

Probability Concepts and Distributions

Sampling and Estimation

Hypothesis Testing and Statistical Inference

Regression Analysis

Forecasting

Introduction to Statistical Quality Control

Decision Models With Uncertainty and Risk

Decisions, uncertainty, and Risk

Queues and Process Simulation Modeling

Linear Optimization

Integer, nonlinear, and Advanced Optimization Methods

Filters