Msis 3223 Final Exam Oklahoma State Correctly Answered!!

Spreadsheet modeling (questions based on applications using data shown in spreadsheets) {Ans: Calculate the customer arrivals and select the correct response from a multiple choice list- Reservations made minus Cancellations Identify the excel formula used to estimate overbooked customers- MAX(0, Customer Arrivals- Rooms available)}Cash budget {Ans: •Cash budgeting is the process of projecting and summarizing a company's cash inflows and outflows expected during a planning horizon, usually 6 to 12 months. •The cash budget also shows the monthly cash balances and any short-term borrowing used to cover cash shortfalls.}Optimization {Ans: •Optimization models have been used extensively in operations and supply chains, finance, marketing, and other disciplines. •Optimization is the process of selecting values of decision variables that minimize or maximize some quantity of interest. •Objective function is the quantity that is to be minimized or maximized. •Optimization is the most important tool in prescriptive analytics.}Solver {Ans: •Solver is an add-in package with Excel that was developed by Frontline Systems Inc. and can be used to solve many different types of optimization problems. •Integer Tolerance is the parameter that specifies when the Solver algorithm will terminate an optimization process with integer constraints. •The value of Integer Tolerance