Management Information Systems Review
Questions
Course Introduction
Management Information Systems (MIS) explores the strategic use of information technology in organizations to facilitate decision-making, improve operational efficiency, and gain a competitive advantage. This course covers the fundamentals of information systems, the role of IT in business processes, systems development life cycle, data management, and the ethical and security issues surrounding information technology. Students will analyze real-world case studies, learn about emerging technologies, and understand how managers leverage information systems to solve business problems and drive organizational success.
Recommended Textbook
Managerial Decision Modeling 6th International Edition by Cliff T. Ragsdale
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15 Chapters
1113 Verified Questions
1113 Flashcards
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Page 2
Chapter 1: Introduction to Modeling and Decision Analysis
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51 Flashcards
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Sample Questions
Q1) A situation when decision quality is good and the resulting outcome quality is good is referred to as
A)Pure luck.
B)Deserved success.
C)Dumb luck.
D)Poetic justice.
Answer: B
Q2) Which of the following is most likely to be used when faced with the decision of how to arrange furniture in a room?
A)Mathematical model
B)Mental model
C)Physical model
D)Visual model
Answer: B
Q3) Which of the following categories of modeling techniques includes simulation?
A)Descriptive models
B)Predictive models
C)Prescriptive models
D)Scale models
Answer: A
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Chapter 2: Introduction to Optimization and Linear Programming
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Sample Questions
Q1) A company makes two products, X<sub>1</sub> and X<sub>2</sub>. They require at least 20 of each be produced. Which set of lower bound constraints reflect this requirement?
A)X<sub>1</sub> \(\ge\) 20, X<sub>2</sub> \(\ge\) 20
B)X<sub>1</sub> + X<sub>2</sub> \(\ge\) 20
C)X<sub>1</sub> + X<sub>2</sub> \(\ge\) 40
D)X<sub>1</sub> \(\ge\) 20, X<sub>2</sub> \(\ge\) 20, X<sub>1</sub> + X<sub>2</sub> \(\le\) 40
Answer: A
Q2) The constraint for resource 1 is 5 X<sub>1</sub> + 4 X<sub>2</sub> \(\le\) 200. If X<sub>1</sub> = 20 and X<sub>2</sub> = 5, how much of resource 1 is unused?
A)0
B)80
C)100
D)200
Answer: B
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Page 4
Chapter 3: Modeling and Solving Lp Problems in a Spreadsheet
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Sample Questions
Q1) Microsoft Excel, Quattro Pro and Lotus 1-2-3 contain built-in optimizers called
A)what-if engines.
B)calculators.
C)solvers.
D)risk analyzers.
Answer: C
Q2) Refer to Exhibit 3.3. What formula should be entered in cell D11 in the accompanying Excel spreadsheet to compute the total liters of alcohol supplied?
A)=B4*B5+C4*C5
B)=SUMPRODUCT(B11:C11,$B$4:$C$4)
C)=SUM(B5:C5)
D)=SUM(E8:E10)
Answer: B
Q3) What does the Excel =SUMPRODUCT(A1:A5,C6;C10) command do?
A)Sums each range and multiplies the sums.
B)Sum each pair of cells and multiples each sum.
C)Multiplies the contents of cells containing the =SUM() command.
D)Multiplies each pair of cells and sums each product.
Answer: D
Page 5
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Chapter 4: Sensitivity Analysis and the Simplex Method
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Sample Questions
Q1) The allowable decrease for a constraint is
A)how many more units of resource to purchase to maximize profits.
B)the amount by which the resource can decrease given shadow price.
C)how much resource to use to get the optimal solution.
D)the amount by which constraint coefficient can increase without changing the final optimal value.
Q2) Refer to Exhibit 4.1. The Week 1 by Truck and Week 1 by Rail constraints each have a shadow price of -360. What do these values imply?
Q3) A binding greater than or equal to (\(\ge\)) constraint in a minimization problem means that
A)the variable is up against an upper limit.
B)the minimum requirement for the constraint has just been met.
C)another constraint is limiting the solution.
D)the shadow price for the constraint will be positive.
Q4) The Cell Value column in the Solver Answer Report shows
A)which constraints are binding.
B)final (optimal) value assumed by each constraint cell.
C)objective function values.
D)Right hand sides of constraints.
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Chapter 5: Network Modeling
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Sample Questions
Q1) The right hand side value for the starting node in a shortest path problem has a value of
Q2) The minimal spanning tree solution algorithm works by defining a subnetwork and A)adding the least expensive arc which connects any node in the current subnetwork to any node not in the current subnetwork.
B)adding the most expensive arc which connects any node in the current subnetwork to any node not in the current subnetwork.
C)adding the least expensive arc which connects unconnected nodes in the current subnetwork.
D)adding the least expensive arc which connects the most recently added node in the current subnetwork to the closest node not in the current subnetwork.
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Chapter 6: Integer Linear Programming
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Sample Questions
Q1) A company must invest in project 1 in order to invest in project 2. Which of the following constraints ensures that project 1 will be chosen if project 2 is invested in?
A)X<sub>1</sub> + X<sub>2</sub> = 0
B)X<sub>1</sub> + X<sub>2</sub> = 1
C)X<sub>1</sub> -X<sub>2</sub> \(\ge\) 0
D)X<sub>1</sub> -X<sub>2</sub> \(\le\) 0
Q2) Which of the following are potential pitfalls of using a non-zero integer tolerance factor in the Risk Solver Platform (RSP)?
A)No assurance the returned solution is optimal.
B)No assurance the returned solution is integer.
C)The true optimal solution may be worse than the returned solution.
D)There are no pitfalls to consider since the Solver will obtain solutions quicker.
Q3) How is an LP problem changed into an ILP problem?
A)by adding constraints that the decision variables be non-negative.
B)by adding integrality conditions.
C)by adding discontinuity constraints.
D)by making the RHS values integer.
Q4) Refer to Exhibit 6.2. What formula would go into cell E14?
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Chapter 7: Goal Programming and Multiple Objective
Optimization
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Sample Questions
Q1) The primary benefit of a MINIMAX objective function is
A)it yields any feasible solution by changing the weights.
B)it is limited to all corner points.
C)it yields a larger variety of solutions than generally available using an LP method.
D)it makes many of the deviational variables equal to zero.
Q2) Which of the following are true regarding weights assigned to deviational variables?
A)The weights assigned can be negative.
B)The weights assigned must sum to one.
C)The weight assigned to the deviation under a particular goal must be the same as the weight assigned to the deviation above that particular goal.
D)All of these are false.
Q3) Refer to Exhibit 7.4. What formulas should go in cell E26 of the spreadsheet?
Q4) A company wants to purchase large and small delivery trucks. The company wants to purchase about 10 large and 15 small trucks. Each large truck costs $30,000 and has a 10 ton capacity. Each small truck costs $20,000 and has a 7 ton capacity. The company wants to have about 200 tons of capacity and spend about $600,000.
Formulate a goal programming model of this problem.
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Chapter 8: Nonlinear Programming and Evolutionary Optimization
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Sample Questions
Q1) In the GRG algorithm the initial solution is called the
A)originating point.
B)insertion point.
C)zero point.
D)starting point.
Q2) Refer to Exhibit 8.2. What values would you enter in the Risk Solver Platform (RSP) task pane for the above Excel spreadsheet?
Objective Cell: Variables Cells: Constraints Cells:
Q3) Which of the following is not an assumption of an EOQ problem.
A)Demand for a product is fairly constant.
B)Inventory depletion rates vary non-linearly.
C)Each new order is delivered in full when the inventory level reaches 0.
D)All are valid assumptions.
Q4) NLP problems which have slack in all the constraints
A)are infeasible.
B)are only at local optimal solutions.
C)have zeros for all shadow prices.
D)are at an interior point of the feasible region.
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Chapter 9: Regression Analysis
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Sample Questions
Q1) Refer to Exhibit 9.6. What is the F-statistic value?
Q2) Residuals are assumed to be
A)dependent, uniformly distributed random variables.
B)independent, uniformly distributed random variables.
C)dependent, normally distributed random variables.
D)independent, normally distributed random variables.
Q3) The term \(\varepsilon\) in the regression model represents
A)the slope of the regression model.
B)a random error term.
C)a correction for mistakes in measuring X.
D)a correction for the fact that we are taking a sample.
Q4) The \(\beta\)<sub>1</sub> term indicates
A)the average change in Y for a unit change in X.
B)the Y value for a given value of X.
C)the change in observed X for a given change in Y.
D)the Y value when X equals zero.
Q5) Refer to Exhibit 9.3. Interpret the meaning of R square in cell B3 of the spreadsheet.
Q6) Refer to Exhibit 9.2. Test the significance of the model and explain which values you used to reach your conclusions.
Page 11
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Chapter 10: Discriminant Analysis
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Sample Questions
Q1) Refer to Exhibit 10.1. Suppose that for a given observation, the difference between Mahalanobis distances between group 1 and 2 (G1-G2) is small. This means that
A)The observation is likely to be classified incorrectly
B)The observation is likely to be classified correctly
C)The observation is unlikely to be classified
D)The observation should be deleted from the data set
Q2) Refer to Exhibit 10.1. What is the cut-off value (cell E26) for this data using the mid-point cut-off method?
A)1.189
B)1.499
C)1.809
D)2.000
Q3) Refer to Exhibit 10.2. What number of observations is classified correctly?
A)19
B)20
C)7
D)8
Q4) Refer to Exhibit 10.4. Compute the discriminant score and predicted group for someone with Score 1 of 238 and Score 2 of 140.
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Chapter 11: Time Series Forecasting
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Sample Questions
Q1) In an exponential smoothing method, weights are assigned
A)just to the current actual and predicted values.
B)just to the previous data point and its predicted value.
C)to all past data points with weight \(\alpha\).
D)to all past data points with more recent data points receiving more weight.
Q2) Refer to Exhibit 11.9. What formula should be entered in cell E3 to compute the linear trend for year 1 Quarter 1?
A)= 114.1364 + 69.7902 * 3
B)= 114.1364 + 69.7902 * 1
C)= 114.1364 + 69.7902 * 1991
D)= 114.1364 + 69.7902 * 284
Q3) Refer to Exhibit 11.7. What formula should be entered in cell F4 to compute the trend when using Holt's method?
A)=$J$3*D4+(1-$J$3)*(E3+F3)
B)=$J$4*(E4-E3)+(1-$J$4)*F3
C)=$J$4*(E4-E3)+(1-$J$4)*G3
D)=$J$4*G3+(1-$J$4)*(D3+G3)
Q4) Refer to Exhibit 11.13. What is the forecast for time periods 13-15?
Q5) Refer to Exhibit 11.18. What is the forecast for time period 13?
Q6) Refer to Exhibit 11.22. What is the forecast for time period 13?
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Chapter 12: Introduction to Simulation Using Risk Solver
Platform
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65 Flashcards
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Sample Questions
Q1) What method is used to generate observations from a distribution?
A)random number generator
B)sample generator
C)problem generator
D)steady state generator
Q2) What function should be used for generating random numbers between a and b from a symmetric triangular distribution when the most likely value is (a + b)/2?
Q3) Using the information in Exhibit 12.3, what formula should go in cell H8 to determine if an order should be placed?
A)=IF(G8<$D$3,1,0)
B)=IF(G8>$D$3,1,0)
C)=IF(G8<$D$3,0,1)
D)=IF(G8<$D$4,1,0)
Q4) Best case analysis is a(n) ____ view of the problem.
A)pessimistic
B)optimistic
C)risky
D)certain
Page 14
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Chapter 13: Queuing Theory
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Sample Questions
Q1) For a Poisson random variable, \(\lambda\) represents the ____ number of arrivals per time period
A)maximum
B)minimum
C)average
D)standard deviation of
Q2) If the arrival process is modeled as a Poisson random variable with arrival rate \(\lambda\), then the average time between arrivals is
A)1/\(\mu\)
B)1/\(\lambda\)
C)1/\(\lambda\)<sup>2</sup>
D)\(\sigma\)
Q3) The amount of time a customer spends with the server is referred to as A)system time.
B)queue time.
C)service time.
D)served time.
Q4) Refer to Exhibit 13.4. Based on this report what is the average total time spent in line and being checked out?
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Chapter 14: Decision Analysis
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Sample Questions
Q1) Refer to Exhibit 14.7. What is the decision maker's risk premium for this problem?
A)-$20,000
B)-$25,900
C)$70,000
D)$80,000
Q2) The category of decision rules that contains the maximax decision rule is the
A)optimistic category.
B)non-probabilistic category.
C)probabilistic category.
D)optimality category.
Q3) Refer to Exhibit 14.12. What is the decision maker's certainty equivalent for this problem?
Q4) Refer to Exhibit 14.9. Assume the formula =MAX(B5:C5) was entered in cell D5 and copied to cells D6:D8. What formula should go in cell E5 and get copied to cells E6:E8 to place a "<==" to indicate the choice according to the maximax decision rule?
Q5) Refer to Exhibit 14.13. What formula should go in cell G11 and copied to cells G12:G13 of the Price worksheet to compute the Consistency Measure?
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Page 16
Chapter 15: Project Management Online
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Sample Questions
Q1) Refer to Exhibit 15.3. Identify each path through the network and its expected length.
Q2) A strength of Gantt charts is that they
A)clearly portray precedence relationships.
B)model uncertainty in activity duration times.
C)provide a timeline-based, graphical view of when activities can begin and end.
D)clearly identifies the critical path.
Q3) Activity-on-Arc (AOA) networks do not allow multiple arcs with common start and finish nodes. If this must be represented, how is an AOA network modified?
A)The network is redrawn into an Activity-on-Node network.
B)Connect the arcs to the node using an IFERROR() function.
C)Phantom (dummy) activity arcs are added.
D)Zero duration activity arcs are added.
Q4) Slack represents the amount of time by which an activity can be delayed without delaying the entire project, assuming that
A)all successor activities start at their earliest start times.
B)all predecessor activities start at their earliest start times.
C)immediate predecessor activities start at their earliest start times.
D)all predecessor activities start at their latest start times.
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Page 17