Exam 9: Enhancing Decision Making with Solver

MATCHING Identify the letter of the choice that best matches the definition of the word or phrase. -The combination of the objective cell, variable cells, and constraints that are used to solve a problem

In the field of management science, the method you use to narrow the available options for a problem so you can choose the best potential outcome is an analytical process known as ____________________.

A constraint that only fully loaded trucks make deliveries is an example of a ____ limit.

Any Solver solution requires a well-organized spreadsheet that links the variable cells with the ____, and links the known facts about the problem with the objective cell.

Ava is setting up a production model for her jewelry-making business. She decides to use Solver to find the optimal number of topaz and onyx pendants to produce with the given constraints. One of the most important constraints is that the minimum number to produce is 100 of each. Please answer the questions below, referencing the above figure as needed. -Ava then needs to specify whether Solver should maximize, minimize, or set the objective cell to a certain value. She would choose the ____ option button.

MATCHING Identify the letter of the choice that best matches the definition of the word or phrase. -A mathematical formula that relates the decision variables or variable cells to the desired outcome

Ava is setting up a production model for her jewelry-making business. She decides to use Solver to find the optimal number of topaz and onyx pendants to produce with the given constraints. One of the most important constraints is that the minimum number to produce is 100 of each. Please answer the questions below, referencing the above figure as needed. -Ava is using Solver to determine her production schedule for pendants. Ava clicks the Set Objective box, and then she clicks cell G6 because it contains the ____.

When a constraint is binding in a Solver answer report, the first column is set to 0 because the constraint equals the final value. _________________________

After changing one or more values in your constraints table, you must click the Solve button in the Solver Parameters dialog box to "resolve" the problem because Solver is not included in the ____ that Excel performs when you change a cell in a worksheet.

With Solver, you can copy the worksheet and solution to a new worksheet for troubleshooting. A better option, however, is to save the worksheet and the Solver model in a ____.

The ____________________ constraint assigns the value 0 or 1 to variable cells.

You can base the constraints that limit the value of a particular cell in the Solver model on ____.

Ava is setting up a production model for her jewelry-making business. She decides to use Solver to find the optimal number of topaz and onyx pendants to produce with the given constraints. One of the most important constraints is that the minimum number to produce is 100 of each. Please answer the questions below, referencing the above figure as needed. -To keep Solver from returning a negative number as a solution, Ava can ____.

Before changing the Solver parameters to troubleshoot a problem in a Solver model, you might want to save it as a baseline so you can return to it later if necessary.

Click the Save Scenario button in the ____ dialog box to open the Save Scenario dialog box.

The objective function or formula that you use in the objective cell can be ____.

Rick has created the chart above outlining the information he has on producing toy trains. He will create a two-dimensional chart to visualize the information. Please refer to the chart above as you answer the questions below. -Rick now needs to determine the required finished time. The correct mathematical model is ____.

If all of the constraints, which represent the availability of resources, have slack values, the solution isn't the optimal solution that maximizes the available resources.

An example of a(n) nonlinear function is the relationship between the price of an item and the demand for that item. _________________________

Policy constraints are often based on company history and, to some extent, inertia.