DeVry Chicago BSOP 209 Week 4 Quiz - Waiting - Line Models and Linear Programming

1. Question : (TCO 6) What is the first step in solving a break-even analysis using a graphic approach?

2. Question : (TCO 7) Define NPV.

3. Question : (TCO 9) What limits the use of a graphical solution to LP?

4. Question : (TCO 8) What are the three parts of a wait-line system?

5. Question : (TCO 8) In reference to queuing, what is a limited or finite population?

6. Question : (TCO 8) What does FIFO mean?

7. Question : (TCO 8) Describe or define a negative exponential-probability distribution.

8. Question : (TCO 8) Which waiting-line model has a dependent relationship between the length of the queue and the arrival rate?

9. Question : (TCOs 6 and 7) XYZ plating is going ahead on an expansion project. They will be able to earn $300 per hour and run 3,000 hours per year. What is the net present value for the next five years with an interest rate of 6%?