Exam 9: Enhancing Decision Making with Solver

The Constraint input box can contain values, references to cells that contain those values, And ____.

A(n) ____________________ function results when a decision variable is multiplied by a constant, such as price.

When you cannot describe a function in linear terms, it is called a(n) ____________________ function.

The cells in a worksheet usually display combinations of text or numbers; the math that generates the answers is hidden.

The default solving method when the Solver Parameters dialog box opens is ____.

You can set up complex business models in a worksheet and use Goal Seek to change more than one cell at a time. _________________________

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.

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

MATCHING Identify the letter of the choice that best matches the definition of the word or phrase. -Results when Solver cannot determine the combination of decision variables that satisfies all of the constraints

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.

You can set up complex business models in a worksheet and use Solver to determine the optimal set of decision inputs to improve profitability, such as minimizing costs or ____ income.

A(n) ____ problem is an optimization problem in which there is a one-to-one relationship between a resource and an assignment or a job.

Case 9-1 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 ready to add the constraints and clicks the Add button. Each constraint contains a cell reference to a cell in the worksheet, a comparison operator, and a cell reference or a constraint value. Ava's first constraint is that total cost (H6) cannot exceed $10,000 (C10). She would enter these parameters in the appropriate text box: ____.

By default, Solver attempts to solve a problem 230 times before it stops working and determines that there is no feasible solution.

A(n) output function is a mathematical formula that relates the decision variables or variable cells to the desired outcome. _________________________

Although you can enter constraints directly into the ____ dialog box without creating a constraints table in your worksheet, creating a constraints table in the worksheet is a much better way of organizing your Solver models.

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.

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

Solver also lets you establish ____________________ that restrict the values that are entered into the variable cells.

In solving business problems, you usually need to maximize items such as revenue or profit, and minimize items such as expenses or losses. _________________________