mat 540 final 1

Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality.Answer

Selected Answer: False

Correct Answer: False

Question 2 5 out of 5 points

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




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

Selected Answer: True

Correct Answer: True


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




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




If we are solving a 0-1 integer programming problem, the constraint x1= x2is a conditional constraint. Answer




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


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

Selected Answer: mutually exclusive

Correct Answer: mutually exclusive


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. The conservative (maximin) strategy is:Answer

Selected Answer: Lease

Correct Answer: Lease


Using the minimax regret criterion to make a decision, youAnswer

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.


Using the maximin criterion to make a decision, youAnswer

Selected Answer: Look at the best payoff for each possible decision and select the decision with the largest best payoff

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


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 constraint on money to invest?Answer

Selected Answer: 100B + 50M 25000

Correct Answer: 100B + 50M 25000


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 objective function?Answer

Selected Answer: Max Z = 85B + 75M

Correct Answer: Max Z = 85B + 75M


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


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

Selected Answer: same product mix, different total profit

Correct Answer: same product mix, different total profit


In a portfolio problem, X1, X2, and X3represent 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. The investor stipulates that stock 1 must not account for more than 35% of the number of shares purchased. Which constraint is correct?Answer

Selected Answer: X1 0.35(X1+ X2 + X3)

Correct Answer: X1 0.35(X1+ X2 + X3)


Compared to transportation LP problems, assignment problems are unique becauseAnswer

Selected Answer: Both of the above

Correct Answer: Both of the above


If we are solving a 0-1 integer programming problem, the constraint x1= x2is a __________ constraint.Answer

Selected Answer: corequisite

Correct Answer: corequisite


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: Y1+ Y41

Correct Answer: Y1+ Y41


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


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

Selected Answer: X1B + X2B+ X3B 350

Correct Answer: X1B + X2B+ X3B= 350


Professor Truman would like to assign grades such that 10% 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: 79


The metropolitan airport commission is considering the establishment of limitations on noise pollution around a local airport. At the present time, the noise level per jet takeoff in one neighborhood near the airport is approximately normally distributed with a mean of 100 decibels and a standard deviation of 3 decibels. What is the probability that a randomly selected jet will generate a noise level of more than 105 decibels? Note: please provide your answer to 2 places past the decimal point, rounding as appropriate. Answer

Selected Answer: 0.05

Correct Answer: 0.05


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 ArrivalsProbabilityRandom 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

Selected Answer: 24

Correct Answer: 24


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


__________ 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


In the Monte Carlo process, values for a random variable are generated by __________ a probability distribution.Answer

Selected Answer: sampling from

Correct Answer: sampling from


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: .28

Correct Answer:

Evaluation MethodCorrect AnswerCase Sensitivity

Exact Match0.28


Nixons Bed and Breakfast has a fixed cost of $5000 per month and the revenue they receive from each booked room is $200. The variable cost per room is $75. How many rooms do they have to sell each month to break even? (Note: The answer is a whole number. Give the answer as a whole number, omitting the decimal point. For instance, use 12 for twelve rooms). Answer

Selected Answer: 40

Correct Answer:


Exact Match40


Carters 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 they receive from each booked room is $150. What is the variable cost per occupied 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: 115

Correct Answer:


Exact Match115


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 0The 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


Correct Answer:


Exact Match7.50


Consider the following linear program, which maximizes profit for two products, regular (R), and super (S): MAX50R + 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:

FinalReducedObjectiveAllowableAllowable

CellNameValueCostCoefficientIncreaseDecrease

$B$7Regular =291.670.00507020

$C$7Super =133.330.00755043.75

FinalShadowConstraintAllowableAllowable

CellNameValuePriceR.H. SideIncreaseDecrease

$E$3Assembly (hr/unit)563.330.006001E+3036.67

$E$4Paint (hr/unit)300.0033.3330039.29175

$E$5Inspect (hr/unit)100.00145.8310012.9440

If downtime reduced the available capacity for painting by 40 hours (from 300 to 260 hours), profits would be reduced by __________. Write your answers with two significant places after the decimal and do not include the dollar $ sign.Answer


Correct Answer:


Exact Match1333

Exact Match1,333


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 FoodCost/ozprotien (%)fat (%)

Partner's Choice$0.204520

Feline Excel$0.151530

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 9.45Answer


Correct Answer:


Exact Match2.50


Find the optimal Z value for the following problem. Do not include the dollar $ sign with your answer.MAX Z = 5x1+ 8x2 s.t. x1+ x2 6 5x1+ 9x2 45 x1, x2 0 and integerAnswer

Selected Answer: 40

Correct Answer:


Exact Match40


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


Correct Answer:


Exact Match0.09


Mr. Sartre 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.InvestmentEconomic Conditions

Poor(S1)Average(S2)Good(S3)Excellent(S4)

A 38253310

B10152085

C 2010020-25

D252510025

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 applicableAnswer

Selected Answer: 48

Correct Answer:


Exact Match37


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:


Exact Match50


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: 26

Correct Answer:


Exact Match26


The following sales data are available for 2003-2008 : YearSalesForecast

200377

200488.5

20051210.5

20061413

20071615

20081816

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 9.1468Answer


Correct Answer:


Exact Match0.0800


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


Correct Answer:


Exact Match2100

Exact Match2,100

Wednesday, September 3, 2014 3:45:58 PM EDT

mat 540 final 1

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