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Question 1

5 out of 5 points

Fractional relationships between variables are not permitted in the standard form of a
linear program.

Answer

Selected Answer: True
Correct Answer: True

Question 2
5 out of 5 points

In an unbalanced transportation model, supply does not equal demand and one set of
constraints uses signs.

Answer

Selected Answer: True
Correct Answer: True

Question 3
5 out of 5 points

Excel can be used to simulate systems that can be represented by both discrete and
continuous random variables.

Answer

Selected Answer: True
Correct Answer: True

Question 4
5 out of 5 points

In a transshipment problem, items may be transported from destination to destination and
from source to source.

Answer

Selected Answer: True

Correct Answer: True
Question 5
5 out of 5 points

In a total integer model, all decision variables have integer solution values.

Answer

Selected Answer: True
Correct Answer: True

Question 6
5 out of 5 points

A cycle is an up and down movement in demand that repeats itself in less than 1 year.

Answer

Selected Answer: False
Correct Answer: False

Question 7
5 out of 5 points

Using the maximin criterion to make a decision, you
Answer

Selected
Answer:

Look at the worst payoff for each possible decision and select the
decision with the largest worst payoff
Correct
Answer:

Look at the worst payoff for each possible decision and select the
decision with the largest worst payoff

Question 8
5 out of 5 points

Using the minimax regret criterion to make a decision, you
Answer

Selected
Answer:

Construct a table of regrets. Look at the maximum regret for each
decision. Select the decision with the smallest maximum regret.
Correct
Answer:

Construct a table of regrets. Look at the maximum regret for each
decision. Select the decision with the smallest maximum regret.

Question 9
5 out of 5 points

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.



If the probability of brisk business is .40 and for slow business is .60, the expected value
of perfect information is:
Answer

Selected Answer:
12
Correct Answer:
12

Question 10
5 out of 5 points

In a break-even model, if all of the costs are held constant, how does an increase in price
affect the model?
Answer

Selected Answer:
Breakeven point decreases
Correct Answer:
Breakeven point decreases

Question 11
5 out of 5 points

Events that cannot occur at the same time in any trial of an experiment are:
Answer

Selected Answer:
mutually exclusive

Correct Answer:
mutually exclusive


Question 12
5 out of 5 points

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

Selected Answer:
100B + 80M 18000
Correct Answer:
100B + 80M 18000

Question 13
0 out of 5 points

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

Selected Answer:
B = 225, M = 0
Correct Answer:
B = 0, M = 225

Question 14
5 out of 5 points

The following is an Excel Answer and Sensitivity reports of a linear programming
problem:

The Answer Report:


The Sensitivity Report:


Which additional resources would you recommend to be increased?
Answer

Selected Answer:
kiln
Correct Answer:
kiln

Question 15
5 out of 5 points

The production manager for Beer etc. produces 2 kinds of beer: light (L) and dark (D).
Two resources used to produce beer are malt and wheat. He can obtain at most 4800 oz
of malt per week and at most 3200 oz of wheat per week respectively. Each bottle of
light beer requires 12 oz of malt and 4 oz of wheat, while a bottle of dark beer uses 8 oz
of malt and 8 oz of wheat. Profits for light beer are $2 per bottle, and profits for dark
beer are $1 per bottle. What is the optimal weekly profit?
Answer

Selected Answer:
$800
Correct Answer:
$800

Question 16
5 out of 5 points

The owner of Black Angus Ranch is trying to determine the correct mix of two types of

beef feed, A and B which cost 50 cents and 75 cents per pound, respectively. Five
essential ingredients are contained in the feed, shown in the table below. The table also
shows the minimum daily requirements of each ingredient.

Ingredient
Percent per
pound in Feed A
Percent per
pound in Feed B
Minimum daily
requirement
(pounds)
1 20 24 30
2 30 10 50
3 0 30 20
4 24 15 60
5 10 20 40


The constraint for ingredient 3 is:
Answer
Selected Answer:
.3B 20
Correct Answer:
.3B 20

Question 17
5 out of 5 points

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

Selected Answer:
x11 + x12 8000
Correct Answer:
x11 + x12 8000

Question 18
5 out of 5 points

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 a constraint
to ensure that if machine 4 is used, machine 1 will not be used.

Answer
Selected Answer:
Y
1
+ Y
4
1
Correct Answer:
Y
1
+ Y
4
1

Question 19
5 out of 5 points

If we are solving a 0-1 integer programming problem, the constraint x1 = x2 is a
__________ constraint.
Answer

Selected Answer:
corequisite

Correct Answer:
corequisite


Question 20
5 out of 5 points

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 supplied by DC 1 is:
Answer

Selected Answer:
X1A + X1B + X1C 500
Correct Answer:
X1A + X1B + X1C 500

Question 21
5 out of 5 points

The assignment problem constraint x31+x32+x33+x34 2 means
Answer

Selected Answer:
agent 3 can be assigned to no more than 2 tasks
Correct Answer:
agent 3 can be assigned to no more than 2 tasks

Question 22
0 out of 5 points

Professor Dewey would like to assign grades such that 15% of students receive As. If
the exam average is 62 with a standard deviation of 13, what grade should be the cutoff
for an A? (Round your answer.)
Answer

Selected Answer:
79
Correct Answer:
75

Question 23
0 out of 5 points

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

Selected Answer:
controlled by the central limit theorem
Correct Answer:
independent

Question 24
5 out of 5 points

__________ moving averages react more slowly to recent demand changes than do
__________ moving averages.

Answer
Selected Answer:
Longer-period, shorter-period
Correct Answer:
Longer-period, shorter-period

Question 25
5 out of 5 points

Consider the following graph of sales.



Which of the following characteristics is exhibited by the data?
Answer

Selected Answer:
Trend plus irregular
Correct Answer:
Trend plus irregular

Question 26
5 out of 5 points

For the following frequency distribution of demand, the random number 0.8177 would
be interpreted as a demand of:


Answer

Selected Answer:
2
Correct Answer:
2

Question 27
5 out of 5 points

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.












Suppose the next three random numbers were .18, .89 and .67. How many customers
would have arrived during this 30-minute period?
Answer
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

Selected Answer:
24
Correct Answer:
24

Question 28
0 out of 5 points

Fords Bed & Breakfast breaks even if they sell 50 rooms each month. They have a
fixed cost of $6500 per month. The variable cost per room is $30. For this model to
work, what must be the revenue per room? (Note: The answer is a whole dollar
amount. Give the answer as a whole number, omitting the decimal point. For instance,
use 105 to write $105.00).
Answer

Selected Answer: 217
Correct Answer: 160

Question 29
5 out of 5 points

Suppose that a production process requires a fixed cost of $50,000. The variable cost per
unit is $10 and the revenue per unit is projected to be $50. Find the break-even point.


Answer
Selected Answer: 1250
Correct Answer: 1250
1,250

Question 30
5 out of 5 points

Joseph 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. What is the probability that Jim will
not be accepted at either university? (Note: write your answer as a probability, with
two decimal places. If necessary, round to two decimal places. For instance, a
probability of 0.252 should be written as 0.25).
Answer

Selected Answer: 0.28
Correct Answer: 0.28

Question 31
5 out of 5 points

Consider the following linear program, which maximizes profit for two products, regular
(R), and super (S):

MAX
50R + 75S
s.t.
1.2R + 1.6 S 600 assembly (hours)
0.8R + 0.5 S 300 paint (hours)
.16R + 0.4 S 100 inspection (hours)

Sensitivity Report:

Final Reduced Objective Allowable Allowable
Cell Name Value Cost Coefficient Increase Decrease
$B$7 Regular = 291.67 0.00 50 70 20
$C$7 Super = 133.33 0.00 75 50 43.75


Final Shadow Constraint Allowable Allowable

Cell Name Value Price R.H. Side Increase Decrease
$E$3 Assembly (hr/unit) 563.33 0.00 600 1E+30 36.67
$E$4 Paint (hr/unit) 300.00 33.33 300 39.29 175
$E$5 Inspect (hr/unit) 100.00 145.83 100 12.94 40



A change in the market has increased the profit on the super product by $5. Total profit
will increase by __________. Write your answers with two significant places after the
decimal and do not include the dollar $ sign.

Answer
Selected Answer: 667
Correct Answer: 667

Question 32
5 out of 5 points

Tracksaws, Inc. makes tractors and lawn mowers. The firm makes a profit of $30 on
each tractor and $30 on each lawn mower, and they sell all they can produce. The time
requirements in the machine shop, fabrication, and tractor assembly are given in the
table.



Formulation:
Let x = number of tractors produced per period
y = number of lawn mowers produced per period
MAX 30x + 30y
subject to 2 x + y 60
2 x + 3y 120
x 45
x, y 0
The graphical solution is shown below.





What is the shadow price for fabrication? Write your answers with two significant
places after the decimal and do not include the dollar $ sign.


Answer
Selected Answer: 7.50
Correct Answer: 7.50

Question 33
0 out of 5 points

Klein Kennels provides overnight lodging for a variety of pets. An attractive feature is
the quality of care the pets receive, including well balanced nutrition. The kennels cat
food is made by mixing two types of cat food to obtain the nutritionally balanced cat
diet. The data for the two cat foods are as follows:

Cat Food Cost/oz
protien
(%) fat (%)
Partner's Choice $0.20 45 20
Feline Excel $0.15 15 30


Klein Kennels wants to be sure that the cats receive at least 5 ounces of protein and at
least 3 ounces of fat per day. What is the optimal cost of this plan? Note: Please write
your answers with two significant places after the decimal and do not include the dollar
$ sign. For instance, $9.45 (nine dollars and fortyfive cents) should be written as
9.45

Answer

Selected Answer: 3.50
Correct Answer: 2.50

Question 34
5 out of 5 points

Find the optimal Z value for the following problem. Do not include the dollar $ sign
with your answer.

Max Z = x1 + 6x2
Subject to: 17x1 + 8x2 136
3x1 + 4x2 36
x1, x2 0 and integer
Answer

Selected Answer: 54

Correct Answer: 54
Question 35
0 out of 5 points

Suppose that x is normally distributed with a mean of 10 and a standard deviation of 3.
Find P(x 6). Note: Round your answer, if necessary, to two places after the decimal.
Please express your answer with two places after the decimal.
Answer

Selected Answer: 11
Correct Answer: 0.09

Question 36
0 out of 5 points

Ms. James is considering four different opportunities, A, B, C, or D. The payoff for each
opportunity will depend on the economic conditions, represented in the payoff table
below.


Investment
Economic Conditions
Poor
(S1)
Average
(S2)
Good
(S3)
Excellent
(S4)
A 18 25 50 80
B 19 100 50 75
C 100 26 120 60
D 20 27 50 240



Suppose all states of the world are equally likely (each state has a probability of 0.25).
What is the expected value of perfect information? Note: Report your answer as an
integer, rounding to the nearest integer, if applicable
Answer

Selected Answer: 225
Correct Answer: 56

Question 37
0 out of 5 points

The local operations manager for the IRS must decide whether to hire 1, 2, or 3
temporary workers. He estimates that net revenues will vary with how well taxpayers
comply with the new tax code. The probabilities of low, medium, and high compliance
are 0.20, 0.30, and 0.50 respectively. What is the expected value of perfect information?
Do not include the dollar $ sign with your answer. The following payoff table is given
in thousands of dollars (e.g. 50 = $50,000). Note: Please express your answer as a
whole number in thousands of dollars (e.g. 50 = $50,000). Round to the nearest whole
number, if necessary.



Answer

Selected Answer: 26000
Correct Answer: 26

Question 38
5 out of 5 points

The local operations manager for the IRS must decide whether to hire 1, 2, or 3
temporary workers. He estimates that net revenues will vary with how well taxpayers
comply with the new tax code. The probabilities of low, medium, and high compliance
are 0.20, 0.30, and 0.50 respectively. What are the expected net revenues for the number
of workers he will decide to hire? The following payoff table is given in thousands of
dollars (e.g. 50 = $50,000). Note: Please express your answer as a whole number in
thousands of dollars (e.g. 50 = $50,000). Round to the nearest whole number, if
necessary.




Answer

Selected Answer: 50
Correct Answer: 50

Question 39
0 out of 5 points

The following sales data are available for 2003-2008 :


Year Sales Forecast
2003 7 7
2004 8 8.5
2005 12 10.5
2006 14 13
2007 16 15
2008 18 16


Calculate the MAPD and express it in decimal notation. Please express the result as a
number with 4 decimal places. If necessary, round your result accordingly. For
instance, 9.14677, should be expressed as 9.1468
Answer
Selected Answer: 1759
Correct Answer: 0.0800

Question 40
5 out of 5 points

Consider the following decision tree. The objective is to choose the best decision among
the two available decisions A and B. Find the expected value of the best decision. Do not
include the dollar $ sign with your answer.

Answer

Selected Answer: 2100
Correct Answer: 2100
2,100

Saturday, December 15, 2012 8:33:46 PM EST