strayer mat540 final exam 2013

Question 1

5 out of 5 points

Correct

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

Question 2

5 out of 5 points

Correct

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

Question 3

0 out of 5 points

Incorrect

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

Question 4

5 out of 5 points

Correct

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

Question 5

5 out of 5 points

Correct

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

Answer

Question 6

5 out of 5 points

Correct

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

Answer

Question 7

5 out of 5 points

Correct

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:

Question 8

5 out of 5 points

Correct

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

Answer

Question 9

5 out of 5 points

Correct

The probability of observing x

successes in a fixed number of trials is a problem related to

Answer

Question 10

5 out of 5 points

Correct

An equation or inequality that expresses a resource restriction in a mathematical model is called _____________________.

Answer

Question 11

5 out of 5 points

Correct

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

Answer

Question 12

5 out of 5 points

Correct

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?

Question 13

5 out of 5 points

Correct

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

Question 14

5 out of 5 points

Correct

Given the following linear programming problem that minimizes cost.

Min Z = 2x + 8y

Subject to 8x + 4y ? 64

2x + 4y ? 32

y ? 2

What is the sensitivity range for the third constraint, y ? 2?

Answer

Question 15

5 out of 5 points

Correct

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?

Question 16

5 out of 5 points

Correct

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

Question 17

5 out of 5 points

Correct

Compared to transportation LP problems, assignment problems are unique because

Answer

Question 18

5 out of 5 points

Correct

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

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

Answer

Question 20

5 out of 5 points

Correct

Consider the following network representation of shipment routes between plants, a distribution center, and retail outlets. The numbers next to the arcs represent shipping costs. For example, the cost of shipping from plant 1 to distribution center 3 is equal to 2.

Assume that Plant 1 can supply 400 units and Plant 2, 500 units. Demand at the retail outlets are: Outlet 4, 300 units; Outlet 5, 250 units; Outlet 6, 450 units. Supply is less than demand, so this is an unbalanced transshipment model. Which constraint represents the quantity shipped to retail outlet 6?

Answer

Question 21

5 out of 5 points

Correct

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

Question 22

5 out of 5 points

Correct

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

Question 23

5 out of 5 points

Correct

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. What percentage of the students will take between 2 and 6 minutes to find a parking spot in the main parking lot?

Answer

Question 24

5 out of 5 points

Correct

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

Answer

Question 25

5 out of 5 points

Correct

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

Answer

Question 26

5 out of 5 points

Correct

Consider the following graph of sales.

Which of the following characteristics is exhibited by the data?

Answer

Question 27

5 out of 5 points

Correct

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

Answer

Question 28

5 out of 5 points

Correct

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 $500. In order to guarantee that they break even, how much should they charge for each ticket? (Note: Write your answer with two significant places after the decimal and do not include the dollar “$” sign. For instance, for five dollars, write your answer as 5.00).

Answer

Question 29

0 out of 5 points

Incorrect

Nixon’s 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

Question 30

5 out of 5 points

Correct

Ford’s 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

Question 31

5 out of 5 points

Correct

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

Question 32

5 out of 5 points

Correct

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

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

Evaluation Method Correct Answer Case Sensitivity

Exact Match 1333

Exact Match 1,333

Question 33

0 out of 5 points

Incorrect

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. The kennel’s 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 (%)

Meow Munch

$0.20

30

10

Feline Feed

$0.15

15

30

Kitty 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

Evaluation Method Correct Answer Case Sensitivity

Exact Match 3.60

Question 34

5 out of 5 points

Correct

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

Evaluation Method Correct Answer Case Sensitivity

Exact Match 54

Question 35

5 out of 5 points

Correct

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 a normal distribution with a mean of 72 years and a standard deviation of 5 years. What proportion of the plan participants are expected to survive to see their 75th

birthday? Note: Round your answer, if necessary, to two places after the decimal. Please express your answer with two places after the decimal.

Answer

Question 36

5 out of 5 points

Correct

Ms. Hegel 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

80

15

18

47

B

50

75

35

35

C

-90

225

-50

12

D

36

25

25

27

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

Question 37

5 out of 5 points

Correct

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

Question 38

5 out of 5 points

Correct

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

Question 39

0 out of 5 points

Incorrect

Recent past demand for product ABC is given in the following table.

Month

Actual Demand

May

33

June

32

July

39

August

37

The forecasted demand for May, June, July and August were 25, 30, 33, and 38 respectively. Determine the value of MAD. Note: Please express the result as a number with 2 decimal places. If necessary, round your result accordingly. For instance, 9.146, should be expressed as 9.15

Answer

Question 40

5 out of 5 points

Correct

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