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MAT 540 Final Exam 2

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MAT 540 Sample Final Exam

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

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

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

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

5). In a total integer model, all decision variables have integer solution values. 6). A cycle is an up and down movement in demand that repeats itself in less than 1 year.

7). Using the maximin criterion to make a decision, you

8). Using the minimax regret criterion to make a decision,

9). 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.

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

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

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, .........What is the storage space constraint?

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. .........

14). 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?

15). 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. ...........What is the optimal weekly profit?

16). 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. .........Ingredient Percent per pound in Feed A Percent per pound in Feed B Minimum daily requirement. The constraint for ingredient 3 is:

17). Let xij = gallons of component i used in gasoline j. Assume that we have two components and two types of gasoline. .......Write the supply constraint for component 1.

18). 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.

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

20). 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:

21). The assignment problem constraint x31+x32+x33+x34 ≤ 2 means

22). 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?

23). Jack is considering pursuing an MS in Information Systems degree. He has applied to two different universities.

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

25). Consider the following graph of sales. Which of the following characteristics is exhibited by the data?

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

27). A bakery is considering hiring another clerk to better serve customers. ........How many customers would have arrived during this 30-minute period?

28). Ford’s Bed & Breakfast breaks even if they sell 50 rooms each month. ......Give the answer as a whole number, omitting the decimal point. For instance, use 105 to write $105.00).

29). 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.

30). Joseph is considering pursuing an MS in Information Systems degree. He has applied to two different universities. .......What is the probability that Jim will not be accepted at either university?

31). Consider the following linear program, which maximizes profit for two products, regular (R), and super (S): .........Write your answers with two significant places after the decimal and do not include the dollar “$” sign.

32). 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. ...................

34). Find the optimal Z value for the following problem. Do not include the dollar “$” sign with your answer. Max Z = x1 + 6x2 Subject to

35). 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.

36). 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. .......

37). 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 following payoff table is given in thousands of dollars (e.g. 50 = $50,000).

38). 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 following payoff table is given in thousands of dollars (e.g. 50 = $50,000).

39). The following sales data are available for 2003-2008 : .......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

40). 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

MAT 540 Sample Final Exam 1). Fractional relationships between variables are not permitted in the standard form of a linear program. 2). In an unbalanced transportation model, supply does not equal demand and one set of constraints uses ≤ signs.
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