MAT 540 Weel 11 Final Exam
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MAT 540 Final Exam
1). If we are solving a 0-1 integer programming problem, the constraint x1 = x2 is a conditional constraint.
2). In a total integer model, all decision variables have integer solution values.
3). In a transshipment problem, items may be transported from destination to destination and from source to source.
4). Validation of a simulation model occurs when the true steady state average results have been reached.
5). Excel can be used to simulate systems that can be represented by both discrete and continuous random variables.
6). Fractional relationships between variables are not permitted in the standard form of a linear program.
7). In a break-even model, if all of the costs are held constant, how does an increase in price affect the model?
8). Using the minimax regret criterion to make a decision,
9). Using the maximin criterion to make a decision,
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. The conservative (maximin) strategy is:
11). An equation or inequality that expresses a resource restriction in a mathematical model is called _____________________.
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,
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,
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.
16). Compared to transportation LP problems, assignment problems are unique because Answer
17). 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.
18). In a capital budgeting problem, if either project 1 or project 2 is selected, then project 5 cannot be selected. Which of the alternatives listed below correctly models this situation?
19). If we are solving a 0-1 integer programming problem, the constraint x1 = x2 is a __________ constraint.
20). The assignment problem constraint x31+x32+x33+x34 ≤ 2 means
21). Consider the following network representation of shipment routes between plants, a distribution center, and retail outlets.
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.
23). 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?
24).For the following frequency distribution of demand, the random number 0.8177 would be interpreted as a demand of:
25). 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.
26). Consider the following graph of sales. Which of the following characteristics is exhibited by the data?
27). In the Monte Carlo process, values for a random variable are generated by __________ a probability distribution. 28). Joseph is considering pursuing an MS in Information Systems degree.
28). 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.
29). 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.
30). Tracksaws, Inc. makes tractors and lawn mowers. The firm makes a profit of $30 on each tractor and $30 on each lawn mower,
31). Tracksaws, Inc. makes tractors and lawn mowers. The firm makes a profit of $30 on each tractor and $30 on each lawn mower, and they sell all they can produce.
32). Kitty Kennels provides overnight lodging for a variety of pets. An attractive feature is the quality of care the pets receive, including well balanced nutrition.
34). Find the optimal Z value for the following problem. Do not include the dollar “$” sign with your answer.
35). Let’s say that a life insurance company wants to update its actuarial tables. Assume that the probability distribution of the lifetimes of the participants is approximately
36). Ms. Hegel is considering four different opportunities, A, B, C, or D. The payoff for each opportunity will depend on the economic conditions,
37). The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates
38). The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates