Question

1

In

a transshipment problem, items may be transported from destination

to

destination and from source to source.

Answer

True

False

Question

2

In

a total integer model, all decision variables have integer

solution

values.

Answer

True

False

Question

3

In

an unbalanced transportation model, supply does not equal demand

and

one set of constraints uses ? signs.

Answer

True

False

Question

4

If

we are solving a 0-1 integer programming problem, the

constraint

x1 = x2 is a conditional

constraint.

Answer

True

False

uestion

5

Fractional

relationships between variables are not permitted in the

standard

form of a linear program.

Answer

True

False

Question

5

Fractional

relationships between variables are not permitted in the

standard

form of a linear program.

Answer

True

False

Question

6

Excel

can be used to simulate systems that can be represented by

both

discrete and continuous random variables.

Answer

True

False

Question

7

The

probability of observing x

successes in a fixed number of trials

is a problem related to

Answer

the

normal distribution

the

binomial

distribution

conditional

probability

the

Poisson distribution

Question

8

Using

the maximin criterion to make a decision, you

Answer

Construct

a table of regrets. Look at the

maximum regret for each

decision. Select the decision with the smallest

maximum regret.

Look

at the worst payoff for each possible

decision and select the

decision with the largest worst payoff

Look

at

the best payoff for each possible decision and select the

decision with the

largest best payoff

Consult

an astrological table to forecast the

state of nature

Question

9

Using

the minimax regret criterion to make a decision, you

Answer

Construct

a table of regrets. Look at the

maximum regret for each

decision. Select the decision with the smallest

maximum regret.

Look

at the worst payoff for each possible

decision and select the

decision with the largest worst payoff

Construct

a

table of regrets. Look at the minimum regret for each

decision.

Select the decision with the smallest minimum regret.

Run

in circles, scream and shout

Question

10

A

business owner is trying to decide whether to buy, rent, or

lease

office space and has constructed the following payoff

table based on whether

business is brisk or slow.

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The

conservative (maximin) strategy is:

Answer

Buy

Rent

Lease

Brisk.

Question

11

An

equation or inequality that expresses a resource restriction in

a

mathematical model is called _____________________.

Answer

a

decision variable.

a

parameter.

an

objective function.

a

constraint.

Question

12

Steinmetz

furniture buys 2 products for resale: big shelves (B) and

medium

shelves (M). Each big shelf costs $100 and requires 100 cubic feet

of

storage space, and each medium shelf costs $50 and requires

80 cubic feet of

storage space. The company has $25000 to invest

in shelves this week, and the

warehouse has 18000 cubic feet

available for storage. Profit for each big shelf

is $85 and for

each medium shelf is $75.In

order to maximize profit, how many

big shelves (B) and how many medium shelves

(M) should be

purchased?

Answer

B

= 225, M

= 0

B

= 0, M = 225

B

= 150, M = 75

B

= 75, M = 150

Question

13

Steinmetz

furniture buys 2 products for resale: big shelves (B) and

medium

shelves (M). Each big shelf costs $100 and requires 100 cubic feet

of

storage space, and each medium shelf costs $50 and requires

80 cubic feet of

storage space. The company has $25000 to invest

in shelves this week, and the

warehouse has 18000 cubic feet

available for storage. Profit for each big shelf

is $85 and for

each medium shelf is $75. What is the storage space

constraint?

Answer

Max

Z = 75B + 85M

100B

+ 50M ? 25000

100B

+

80M ? 18000

100B

+ 80M = 18000

5

points

Question

14

For

a maximization problem, assume that a constraint is binding. If

the

original amount of a resource is 4 lbs., and the range of

feasibility

(sensitivity range) for this constraint is from 3

lbs. to 6 lbs., increasing

the amount of this resource by 1 lb.

will result in the:

Answer

same

product

mix, different total profit

different

product mix, same total profit as

before

same

product mix, same total profit

different

product mix, different total

profit

Question

15

The

following is an Excel â€œAnswerâ€ and â€œSensitivityâ€

reports of a linear

programming problem:

The

Answer Report:

The

Sensitivity Report:

Which

additional resources would you recommend to be increased?

Answer

mix/mold

kiln

paint

and seal

Cannot

tell from the information provided

Question

16

Let

xij = gallons of component i used in gasoline j. Assume that we

have

two components and two types of gasoline. There are 8,000

gallons of component

1 available, and the demands for gasoline

types 1 and 2 are 11,000 and 14,000

gallons respectively. Write

the supply constraint for component 1.

Answer

x11

+ x21 ? 8000

x12

+ x21 ? 8000

x11

+

x12 ? 8000

x11

+ x12 ? 8000

Question

17

In

a portfolio problem, X1, X2, and X3 represent the number of

shares

purchased of stocks 1, 2, an 3 which have selling prices of $15,

$47.25,

and $110, respectively. The investor has up to $50,000

to invest.

An appropriate part of the model would be

Answer

15X1

+

47.25X2 +110 X3 ? 50,000

MAX

Z =15X1 + 47.25X2 + 110X3

X1

+ X2 +X3 ? 50,000

MAX

Z = 50(15)X1 + 50

(47.25)X2 + 50 (110)X3

Question

18

If

we are solving a 0-1 integer programming problem, the

constraint

x1 = x2 is a __________

constraint.

Answer

multiple

choice

mutually

exclusive

conditional

corequisite

Question

19

The

Kirschner Company has a contract to produce garden hoses for

a

customer. Kirschner has 5 different machines that can produce

this kind of

hose. Write the constraint that indicates they have

to use at least three of

the five machines in their

production.

Answer

Y1

+ Y2 + Y3 + Y4

+ Y5 ? 3

Y1

+ Y2 + Y3 + Y4

+ Y5 = 3

Y1

+ Y2 + Y3 + Y4

+ Y5 ? 3

none

of the above

Question

20

The

assignment problem constraint x31+x32+x33+x34 ? 2 means

Answer

agent

3

can be assigned to 2 tasks

agent

3 can be assigned to no more than 2 tasks

a

mixture of agents 1, 2, 3 and 4 will be

assigned to tasks

agent

2 can be assigned to 3 tasks

Question

21

The

following table represents the cost to ship from Distribution

Center

1, 2, or 3 to Customer A, B, or C.

The

constraint that represents the quantity demanded by Customer B

is:

Answer

6X1B

+ 2X2B + 8X3B ? 350

6X1B

+ 2X2B + 8X3B = 350

X1B

+ X2B + X3B ? 350

X1B

+

X2B + X3B = 350

Question

22

Assume

that it takes a college student an average of 5 minutes to find

a

parking spot in the main parking lot. Assume also that this

time is

normally distributed with a standard deviation of 2

minutes. What percentage of

the students will take between 2 and

6 minutes to find a parking spot in the

main parking lot?

Answer

11.13%

47.72%

43.32%

62.47%

Question

23

Jack

is considering pursuing an MS in Information Systems degree. He

has

applied to two different universities. The acceptance rate

for applicants with

similar qualifications is 30% for University

X and 60% for University Y. The

decisions of each university

have no effect on each other. This means

that they are:

Answer

mutually

exclusive

independent

controlled

by the central limit theorem

all

of the above

Question

24

A

bakery is considering hiring another clerk to better serve

customers.

To help with this decision, records were kept to determine how

many

customers arrived in 10-minute intervals. Based on 100

ten-minute

intervals, the following probability distribution and

random number assignments

developed.

Number

of Arrivals

Probability

Random

numbers

6

.1

.01

– .10

7

.3

.11

– .40

8

.3

.41

– .70

9

.2

.71

– .90

10

.1

.91

– .00

Suppose

the next three random numbers were .18, .89 and .67. How

many

customers would have arrived during this 30-minute

period?

Answer

23

24

22

25

uestion

25

For

the following frequency distribution of demand, the random

number

0.8177 would be interpreted as a demand of:

Answer

0

1

2

3

Question

26

Given

an actual demand of 59, a previous forecast of 64, and an alpha

of

.3, what would the forecast for the next period be using

simple exponential

smoothing?

Answer

36.9

57.5

60.5

62.5

uestion

27

Consider

the following graph of sales.

.png”>

Which

of the following characteristics is exhibited by the data?

Answer

Trend

only

Trend

plus seasonal

Trend

plus

irregular

Seasonal

Question

28

Students

are organizing a “Battle of the Bands” contest.

They know

that at least 100 people will attend. The rental fee for the

hall

is $200 and the winning band will receive $500. In order to

guarantee

that they break even, how much should they charge for each ticket?

(Note:

Write your answer with two significant places after the

decimal and do not

include the dollar â€œ$â€ sign. For

instance, for five dollars, write your

answer as 5.00).

Answer

Question

29

Carterâ€s

Bed & Breakfast breaks even every month if they book 30

rooms

over the course of a month. Their fixed cost is $1050 per month

and

the revenue th

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