Chapter 8.5 Decision Modeling with Spreadsheets
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Questions and Answers

Spreadsheets were quickly recognized as difficult-to-use implementation software for a wide range of applications in business, engineering, mathematics, and science. (True/False)

False (B)

Add-ins were not developed for structuring and solving specific model classes in spreadsheet packages. (True/False)

False (B)

Solver and What’sBest are add-in packages developed for DSS development. (True/False)

True (A)

Braincel and NeuralTools are add-ins for linear and nonlinear optimization. (True/False)

<p>False (B)</p> Signup and view all the answers

Evolver is an add-in for performing simulation studies. (True/False)

<p>True (A)</p> Signup and view all the answers

@RISK is an add-in developed by Palisade Corp. for artificial neural networks. (True/False)

<p>False (B)</p> Signup and view all the answers

The spreadsheet is the most popular end-user modeling tool due to its incorporation of many powerful functions.

<p>True (A)</p> Signup and view all the answers

Spreadsheets can only perform basic tasks and are not capable of model solution tasks such as linear programming and regression analysis.

<p>False (B)</p> Signup and view all the answers

Goal seeking in a spreadsheet involves indicating a target cell, its desired value, and a changing cell.

<p>True (A)</p> Signup and view all the answers

Microsoft Excel is not the most popular spreadsheet package.

<p>False (B)</p> Signup and view all the answers

Static and dynamic models can both be built in a spreadsheet.

<p>True (A)</p> Signup and view all the answers

Risk analysis cannot be incorporated into spreadsheets.

<p>False (B)</p> Signup and view all the answers

The loan calculations in the spreadsheet shown in Figure 8.4 indicate the effect of prepayment on the principal over time.

<p>True (A)</p> Signup and view all the answers

Spreadsheet applications for models are not reported regularly.

<p>False (B)</p> Signup and view all the answers

Mathematical programming optimization is not related to spreadsheets.

<p>False (B)</p> Signup and view all the answers

OLAP systems do not have similarities with advanced spreadsheet software after the data are loaded.

<p>False (B)</p> Signup and view all the answers

What are the primary focus of the models discussed in the text?

<p>Prescriptive analytics (D)</p> Signup and view all the answers

Which company developed the add-in What’sBest for DSS development?

<p>Lindo Systems, Inc. (A)</p> Signup and view all the answers

What is the primary purpose of the add-in named @RISK?

<p>Simulation studies (A)</p> Signup and view all the answers

What type of models can be developed using spreadsheet packages according to the text?

<p>Prescriptive analytics, statistical, and forecasting models (D)</p> Signup and view all the answers

Which add-in is specifically mentioned for artificial neural networks?

<p>NeuralTools (A)</p> Signup and view all the answers

What type of optimization technique is the add-in Evolver specifically developed for?

<p>Genetic algorithms (A)</p> Signup and view all the answers

What is the primary reason for the popularity of spreadsheets as an end-user modeling tool?

<p>Their incorporation of powerful financial, statistical, and mathematical functions (D)</p> Signup and view all the answers

What type of models can be developed using spreadsheet packages according to the text?

<p>Both static and dynamic models (C)</p> Signup and view all the answers

What are the primary focus of the models discussed in the text?

<p>Behavior over time and performance replication (D)</p> Signup and view all the answers

What type of optimization technique is the add-in Evolver specifically developed for?

<p>Genetic algorithms (B)</p> Signup and view all the answers

@RISK is an add-in developed by Palisade Corp. for what purpose?

<p>Risk analysis and simulation modeling (C)</p> Signup and view all the answers

Which company developed the add-in What’sBest for DSS development?

<p>Lindo Systems (A)</p> Signup and view all the answers

Which add-in is specifically mentioned for artificial neural networks?

<p>@RISK (C)</p> Signup and view all the answers

What is the primary purpose of Braincel and NeuralTools, according to the text?

<p>Linear and nonlinear optimization (B)</p> Signup and view all the answers

Are spreadsheets recognized as difficult-to-use implementation software for a wide range of applications in business, engineering, mathematics, and science?

<p>False (C)</p> Signup and view all the answers

Do spreadsheet applications for models get reported regularly?

<p>Yes (A)</p> Signup and view all the answers

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