Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics (MindTap Course List)
8th Edition
ISBN: 9781305947412
Author: Cliff Ragsdale
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 1, Problem 3QP
Summary Introduction
To determine: The difference between a spreadsheet model and a computer model
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
You are required to use the IRAC model , in an essay format to answer all questions.
Jill is a known prostitute, rented an apartment from Jacob. Jacob is unaware of Jill’s profession and gracefully rented the apartment which was unoccupied for the last year.
Jacob saw several people coming and going from the apartment but was not concerned because he thought that they were all Jill’s friends. Indeed, Jacob was a private person who paid little attention to other people’s activities. He focused on his tasks and that of his family.
Jill did not pay her rent for 3 months and Jacob sought to enforce the right to terminate the rental agreement and sue for the outstanding rent. Jill has indicated that she will not pay any outstanding rent and told Jacob that his contract with her was illegal bearing in mind that she was using the apartment for the illegal purpose of prostitution. Advise Jacob on this matter.
What does limited problem solving require?
Assume that the Ken Cory Consulting and Construction Company is involved in four different businesses that have almost no
linkages between them (such as being in financial consulting, road construction, wheat farming, and auto repair industries
simultaneously). Now assume that the financial consulting company accounts for 12% of total company revenues, road
construction accounts for 74% of company revenues, wheat farming accounts for 10%, and auto repair accounts for 4% of total
company revenues. What is the best way to describe the level or category of diversification that the Ken Cory Company has?
O Conglomerate
O Single Business
O Related-Linked
O Dominant Business
Chapter 1 Solutions
Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics (MindTap Course List)
Ch. 1 - Prob. 1QPCh. 1 - Prob. 2QPCh. 1 - Prob. 3QPCh. 1 - Prob. 4QPCh. 1 - What is the relationship between business...Ch. 1 - What kinds of spreadsheet applications would not...Ch. 1 - Prob. 7QPCh. 1 - Prob. 8QPCh. 1 - What is a dependent variable?Ch. 1 - What is an independent variable?
Ch. 1 - Can a model have more than one dependent variable?Ch. 1 - Can a decision problem have more than one...Ch. 1 - Prob. 13QPCh. 1 - Prob. 14QPCh. 1 - In what ways are descriptive models different from...Ch. 1 - Prob. 16QPCh. 1 - Prob. 17QPCh. 1 - Consider the spreadsheet model shown in Figure...Ch. 1 - Prob. 19QPCh. 1 - Prob. 20QPCh. 1 - Prob. 21QPCh. 1 - Prob. 22QPCh. 1 - Prob. 23QPCh. 1 - Prob. 24QPCh. 1 - Prob. 25QPCh. 1 - Prob. 26QPCh. 1 - Prob. 27QP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- You are required to use the IRAC model to answer all questions. Jill is a known prostitute, rented an apartment from Jacob. Jacob is unaware of Jill’s profession and gracefully rented the apartment which was unoccupied for the last year. Jacob saw several people coming and going from the apartment but was not concerned because he thought that they were all Jill’s friends. Indeed, Jacob was a private person who paid little attention to other people’s activities. He focused on his tasks and that of his family. Jill did not pay her rent for 3 months and Jacob sought to enforce the right to terminate the rental agreement and sue for the outstanding rent. Jill has indicated that she will not pay any outstanding rent and told Jacob that his contract with her was illegal bearing in mind that she was using the apartment for the illegal purpose of prostitution. Advise Jacob on this matter.arrow_forwardHow does the presence of uncertainty affect the usefulness of the model?arrow_forwardConsider Bruno who manages an underwriting team in an insurance firm. Recently, the management of Bruno’s firm informed him of their decision to create a new risk assessment team, consisting of data scientists with machine learning expertise, and reduce the size of Bruno’s underwriting team. Bruno’s underwriting team will now work with the new risk assessment team in order to determine whether to provide insurance to applicants. Graphically illustrate the impact of the management’s restructuring decision on the firm’s production function. Your diagram should have the amount of human intelligence on the horizontal axis and the number of decisions on whether to provide insurance on the vertical axis. Fully label your diagram. Note that there are no actual numbers given in this question: you may make them up or simply use appropriate notations. Briefly explain the key information of your diagram.arrow_forward
- If a company currently has $1000 cash, $300 income every month and $200 profit every month, how many months would it take for a company to run out of money?arrow_forwardExplain the concept of data modeling in data warehousing. What are star schemas and snowflake schemas, and how are they used?arrow_forwardInvestment Manager: Works with the Investment Analyst to decide the number of stocks to be purchased, how much cash to hold and the timing of purchases.arrow_forward
- I need both answers a and b i will give 5 upvotes typingarrow_forwardWhat are the advantages of analyzing and experimenting with a model as opposed to a real object or situation?arrow_forwardIf you owned a small manufacturing business with relatively high volume and multiple product lines, would it be good for you to implement an ABC model? Why? What are the benefits and the risks - or how could you adapt it to get the best of both?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON