Chapter 9 - Solver Flashcards Preview

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Flashcards in Chapter 9 - Solver Deck (15)
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1

What determines the optimal set of decision inputs to meet an objective?

The solver

2

What is an excellent tool for determining the best way to apply resources to a particular problem?

The solver

3

Is the solver more powerful than the goal seek?

Yes

4

What is an analytical method that narrows available options so you can choose the best potential outcome?

Optimization

5

List the 3 things that you should consider before using optimization

1. How many resources are there and how many are needed
2. How many resources does each decision variable consume
3. How much does each decision variable contribute to the objective

6

True or False:

The goal seek doesn't make calculation automatically

False

7

What lets you specify the desired value in a cell and the cell that should be changed to reach that goal?

The goal seek

8

What is goal seek limited to?

One input and one output

9

True or False:

Goal seek finds single answers easily

True

10

What is an optimization technique for a system of linear constraints and a linear objective function?

Linear programming

11

What defines the quantity to be optimized?

An objective function

12

Fill in the Blank:

The goal of linear programming is to find ____________ that maximize or minimize the objective function

The values of the variables

13

What is the cell that you want to maximize, minimize, or set to a specific value?

The objective cell

14

What produces the desired results in the target cell?

Variable cells

15

What limits how to solve the problem?

Constraints