Question 1

Describe how to create a Solver model. Please include these key terms in your descriptions: Solver model, objective cell, variable cells, and constraints.

Accepted Answer

Solver is similar to Goal Seek in that i

Question 2

The size of a truck is an example of a(n) political limit. _________________________

Accepted Answer

A) True 
 B)False

Question 3

Of the three Solver reports, the ____ report is the most frequently used and most useful report for business users.

Accepted Answer

A)  answer 
B)  sensitivity 
C)  limits 
D)  break-even 
A)  answer 
B)  sensitivity 
C)  limits 
D)  break-even

Question 4

A(n) ____________________ solution occurs in situations in which the feasible solution is unrestrained or unlimited on some dimension.

Accepted Answer

The answer of A(n) ____________________ solution occurs in situations in...

Question 5

When Solver cannot find a feasible solution, it still produces an answer report.

Accepted Answer

A) True 
 B)False

Question 6

With Solver, you can change the values in many cells at one time to reach a goal in the ____________________ cell.

Accepted Answer

The answer of With Solver, you can change the values...

Question 7

Although Goal Seek only lets you change ____, it can be quite useful at times.

Accepted Answer

A)  one cell 
B)  two cells 
C)  three cells 
D)  four cells 
A)  one cell 
B)  two cells 
C)  three cells 
D)  four cells

Question 8

The combination of the objective cell, variable cells, and constraints that are used to solve a problem is called a(n) Goal model. _________________________

Accepted Answer

A) True 
 B)False

Question 9

Having a cell in the worksheet that contains the constraint value makes it possible for you to refer to each constraint value as a cell reference in the ____ dialog box.

Accepted Answer

A)  Value 
B)  Add Constraint 
C)  Constraint 
D)  Cell Value 
A)  Value 
B)  Add Constraint 
C)  Constraint 
D)  Cell Value

Question 10

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 ____.

Accepted Answer

A)  blank section of the worksheet 
B)  new file 
C)  Web file 
D)  PivotTable 
A)  blank section of the worksheet 
B)  new file 
C)  Web file 
D)  PivotTable

Question 11

After you have identified the criteria that prevent a solution from being feasible, you have two choices: You can do nothing and declare that there is no solution to the problem, or you can ____ to create a feasible solution.

Accepted Answer

A)  add data 
B)  adjust the constraints 
C)  add constraints 
D)  run a summary report 
A)  add data 
B)  adjust the constraints 
C)  add constraints 
D)  run a summary report

Question 12

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

Accepted Answer

A)  save it as a baseline 
B)  change the filename 
C)  open it in a second window 
D)  none of the above 
A)  save it as a baseline 
B)  change the filename 
C)  open it in a second window 
D)  none of the above

Question 13

Case 9-2
   
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.
-Looking at the chart above, what would the mathematical formula be for required molding time?

Accepted Answer

A)  Required molding time = (0.20 x (Model I quantity)) - (0.20 x (Model II quantity)) 
B)  Required molding time = (70.0 x (Model I quantity)) + (70.0 x (Model II quantity)) 
C)  Required molding time = (0.70 x (Model I quantity)) - (0.70 x (Model II quantity)) 
D)  Required molding time = (0.20 x (Model I quantity)) + (0.20 x (Model II quantity)) 
A)  Required molding time = (0.20 x (Model I quantity)) - (0.20 x (Model II quantity)) 
B)  Required molding time = (70.0 x (Model I quantity)) + (70.0 x (Model II quantity)) 
C)  Required molding time = (0.70 x (Model I quantity)) - (0.70 x (Model II quantity)) 
D)  Required molding time = (0.20 x (Model I quantity)) + (0.20 x (Model II quantity))

Question 14

Solver can be used with either linear or nonlinear functions. Define linear and nonlinear functions, and give an example of a situation where you would find each of them.

Accepted Answer

•A linear function results when a decisi

Question 15

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 ____________________.

Accepted Answer

optimizati

Question 16

You must answer four questions before using optimization to solve a problem. They do NOT include ____.

Accepted Answer

A)  How many resources are there and how many are needed? 
B)  How many resources does each decision variable consume? 
C)  How much does each decision variable contribute to the objective? 
D)  How much does each decision variable cost? 
A)  How many resources are there and how many are needed? 
B)  How many resources does each decision variable consume? 
C)  How much does each decision variable contribute to the objective? 
D)  How much does each decision variable cost?

Question 17

When using the Solver model, a value of ____________________ indicates a satisfied constraint.

Accepted Answer

The answer of When using the Solver model, a value...

Question 18

By default, Solver attempts to solve a problem ____ times before it stops working and determines that there is no feasible solution.

Accepted Answer

A)  10 
B)  100 
C)  500 
D)  750 
A)  10 
B)  100 
C)  500 
D)  750

Question 19

____ is similar to Goal Seek in that it lets you specify what you want to occur in a particular
Cell by changing the values of one or more related cells.

Accepted Answer

A)  Solve-it 
B)  Solver 
C)  Source 
D)  Source-it 
A)  Solve-it 
B)  Solver 
C)  Source 
D)  Source-it

Question 20

There are three steps to troubleshoot an infeasible solution in Solver. Which of the following is NOT one of them?

Accepted Answer

A)  Correct any data-entry errors in the Solver Parameters dialog box. 
B)  Review the constraints to see if a policy constraint is the cause of the infeasibility. 
C)  Try loosening a constraint value for each suspected problem. 
D)  Try getting a solution from Goal Seek instead. 
A)  Correct any data-entry errors in the Solver Parameters dialog box. 
B)  Review the constraints to see if a policy constraint is the cause of the infeasibility. 
C)  Try loosening a constraint value for each suspected problem. 
D)  Try getting a solution from Goal Seek instead.

Describe how to create a Solver model. Please include these key terms in your descriptions: Solver model, objective cell, variable cells, and constraints.

The size of a truck is an example of a(n) political limit. _________________________

Of the three Solver reports, the ____ report is the most frequently used and most useful report for business users.

A(n) ____________________ solution occurs in situations in which the feasible solution is unrestrained or unlimited on some dimension.

When Solver cannot find a feasible solution, it still produces an answer report.

With Solver, you can change the values in many cells at one time to reach a goal in the ____________________ cell.

Although Goal Seek only lets you change ____, it can be quite useful at times.

The combination of the objective cell, variable cells, and constraints that are used to solve a problem is called a(n) Goal model. _________________________

Having a cell in the worksheet that contains the constraint value makes it possible for you to refer to each constraint value as a cell reference in the ____ dialog box.

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 ____.

After you have identified the criteria that prevent a solution from being feasible, you have two choices: You can do nothing and declare that there is no solution to the problem, or you can ____ to create a feasible solution.

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

Solver can be used with either linear or nonlinear functions. Define linear and nonlinear functions, and give an example of a situation where you would find each of them.

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 ____________________.

You must answer four questions before using optimization to solve a problem. They do NOT include ____.

When using the Solver model, a value of ____________________ indicates a satisfied constraint.

By default, Solver attempts to solve a problem ____ times before it stops working and determines that there is no feasible solution.

____ is similar to Goal Seek in that it lets you specify what you want to occur in a particular Cell by changing the values of one or more related cells.

There are three steps to troubleshoot an infeasible solution in Solver. Which of the following is NOT one of them?

Applying Fundamental Excel Skills and Tools in Problem Solving

Solving Problems with Statistical Analysis Tools

Determining Effective Data Display with Charts

Applying Logic in Decision Making

Retrieving Data for Computation, Analysis, and Reference

Evaluating the Financial Impact of Loans and Investments

Organizing Data for Effective Analysis

Using Data Tables and Excel Scenarios for What If Analysis

Troubleshooting Workbooks and Automating Excel Applications

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Exam 9: Enhancing Decision Making with Solver

Describe how to create a Solver model. Please include these key terms in your descriptions: Solver model, objective cell, variable cells, and constraints.

The size of a truck is an example of a(n) political limit. _________________________

Of the three Solver reports, the ____ report is the most frequently used and most useful report for business users.

A(n) ____________________ solution occurs in situations in which the feasible solution is unrestrained or unlimited on some dimension.

When Solver cannot find a feasible solution, it still produces an answer report.

With Solver, you can change the values in many cells at one time to reach a goal in the ____________________ cell.

Although Goal Seek only lets you change ____, it can be quite useful at times.

The combination of the objective cell, variable cells, and constraints that are used to solve a problem is called a(n) Goal model. _________________________

Having a cell in the worksheet that contains the constraint value makes it possible for you to refer to each constraint value as a cell reference in the ____ dialog box.

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 ____.

After you have identified the criteria that prevent a solution from being feasible, you have two choices: You can do nothing and declare that there is no solution to the problem, or you can ____ to create a feasible solution.

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

Solver can be used with either linear or nonlinear functions. Define linear and nonlinear functions, and give an example of a situation where you would find each of them.

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 ____________________.

You must answer four questions before using optimization to solve a problem. They do NOT include ____.

When using the Solver model, a value of ____________________ indicates a satisfied constraint.

By default, Solver attempts to solve a problem ____ times before it stops working and determines that there is no feasible solution.

____ is similar to Goal Seek in that it lets you specify what you want to occur in a particular Cell by changing the values of one or more related cells.

There are three steps to troubleshoot an infeasible solution in Solver. Which of the following is NOT one of them?

Applying Fundamental Excel Skills and Tools in Problem Solving

Solving Problems with Statistical Analysis Tools

Determining Effective Data Display with Charts

Applying Logic in Decision Making

Retrieving Data for Computation, Analysis, and Reference

Evaluating the Financial Impact of Loans and Investments

Organizing Data for Effective Analysis

Using Data Tables and Excel Scenarios for What If Analysis

Troubleshooting Workbooks and Automating Excel Applications

Filters