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##### SAINT MBA550 FINAL EXAM

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Question;Question 1. 1. The production;manager for the Coory soft drink company is considering the production of two;kinds of soft drinks: regular (R) and diet (D). Two of her limited resources;are production time (8 hours = 480 minutes per day) and syrup (1 of the;ingredients), limited to 675 gallons per day. To produce a regular case;requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutes;and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and;profits for diet soft drink are $2.00 per case. What is the objective function?;(Points: 5);MAX $2R + $4D;MAX $3R + $2D;MAX $3D + $2R;MAX $4D + $2R;Question 2. 2. Project management;differs from management of more traditional day-to-day activities because;(Points: 5);it has limited time frame.;it has an unlimited budget.;it is more expensive.;it involves more of the workforce.;Question 3. 3. The maximum number;of constraints that could define the feasible solution space is _____: (Points;5);2;3;4;Unlimited;Question 4. 4. A plant manager is;attempting to determine the production schedule of various products to maximize;profit. Assume that a machine hour constraint is binding. If the original;amount of machine hours available is 200 minutes., and the range of feasibility;is from 130 minutes to 300 minutes, providing two additional machine hours will;result in: (Points: 5);the same product mix, different total profit.;a different product mix, same total profit as before.;the same product mix, same total profit.;a different product mix, different total profit.;Question;5. 5. The $75 per credit hour course fee tacked on to all the;MBA classes has generated a windfall of $56,250 in its first semester.;Now we just need to make sure we spend it all," the Assistant Dean;cackled. She charged the Graduate Curriculum Committee with generating a;shopping list before their next meeting. Four months later, the chairman of the;committee distributed the following. As the professor for the quantitative;modeling course, he tended to think in terms of decision variables, so he added;the left-most column for ease of use.;Decision;Variable;Item;Cost;Note;A;iPads for everybody;$750/unit;Must get a cover if these are purchased;B;iPad covers with MBA logo;$25/unit;Not needed unless we buy iPads;C;Speaker series;$15,000;Can't afford both this and the iPads;D;Subscriptions to the Wall Street Journal;$10/unit;Don't need if we have the electronic version;E;Subscriptions to the electronic version of the Wall Street Journal;$5/unit;Worthless without the iPads;Which of the constraints best describes the;relationship between the iPads for everyone and the speaker series? (Points: 5);A - C = 1;A + C = 1;A - C = 0;A + C = 2;Question 6. 6. In a;integer model, all decision variables have integer solution values. (Points;5);Total;0-1;Mixed;all of the above;Question 7. 7. If a maximization;linear programming problem consists of all less-than-or-equal-to constraints;with all positive coefficients and the objective function consists of all;positive objective function coefficients, then rounding down the linear;programming optimal solution values of the decision variables will;result in a feasible solution to the integer linear programming problem.;(Points: 5);Always;Sometimes;Optimally;Never;Question 8. 8. When systematically;formulating a linear program, the first step is to: (Points: 5);construct the objective function;formulate the constraints;identify the decision variables.;identify the parameter values.;Question;9. 9. The critical path is the ________ path through the;network. (Points: 5);Longest;Shortest;Straightest;most expensive;Question 10. 10. In a 0-1 integer;programming model, if the constraint x1 - x2 = 0, it means when project 2 is;selected, project 1 ________ be selected. (Points: 5);must always;can sometimes;can never;is already;Question 11. 11. Multiple optimum;solutions can occur when the objective function is _______ a constraint line.;(Points: 5);unequal to;equal to;linear to;parallel to;Question 12. 12. A shadow price;reflects which of the following in a maximization problem? (Points: 5);The marginal gain in the objective that would be realized by adding one;unit of a resource;The marginal gain in the objective that would be realized by subtracting;one unit of a resource;The marginal cost of adding additional resources;The marginal gain of selling one more unit;Question 13. 13. In a;integer model, some solution values for decision variables are integers and;others can be non-integer. (Points: 5);Total;0-1;Mixed;all of the above;Question 14. 14. For most graphs;the constraint equations which intersect to form a solution point must be;solved simultaneously: (Points: 5);because the solution coordinates from the graph cannot be visually read;with high precision.;in order to confirm the mathematically determined coordinates.;in order to determine all of the optimal point solution.;because the slope b and the y-intercept a are not always integers.;Question;15. 15. In order to transform a ">=" constraint;into an equality ("=") in a linear programming model: (Points: 5);add a slack variable.;add a surplus variable.;subtract a surplus variable;subtract a surplus variable and add a;slack variable.;Question 16. 16. Cully Turniture;buys two products for resale: big shelves (B) and medium shelves (M). Each big;shelf costs $500 and requires 100 cubic feet of storage space, and each medium;shelf costs $300 and requires 90 cubic feet of storage space. The company has;$75,000 to invest in shelves this week, and the warehouse has 18,000 cubic feet;available for storage. Profit for each big shelf is $300 and for each medium;shelf is $150. What is the storage space constraint? (Points: 5);90 B + 100 M = 18000;90 B + 100 M = 18000;100 B + 90 M = 18000;500 B + 300 M = 18000;Question;17. 17. ________ is used to analyze changes in model;parameters. (Points: 5);Optimal solution;Feasible solution;Sensitivity analysis;A slack variable;Question;18. 18. Which of the following could be a linear programming;objective function? (Points: 5);Z = 1A + 2BC + 3D;Z = 1A + 2B + 3C + 4D;Z = 1A + 2B / C + 3D;Z = 1A + 2B2 + 3D;Question 19. 19. The production;manager for the Softy soft drink company is considering the production of two;kinds of soft drinks: regular and diet. Two of her resources are production;time (8 hours = 480 minutes per day) and syrup (1 of the ingredients) limited;to 675 gallons per day. To produce a regular case requires 2 minutes and 5;gallons of syrup, while a diet case needs 4 minutes and 3 gallons of syrup.;Profits for regular soft drink are $3.00 per case and profits for diet soft;drink are $2.00 per case. What is the time constraint? (Points: 5);2R + 4D = 480;2D + 4R = 480;2R + 3D = 480;3R + 2D = 480;Question;20. 20. If t is the expected completion time for a given;activity, then _____. (Points: 5);LF = LS ? t;EF = ES ? t;EF = ES + t;EF = LS - t

Paper#54738 | Written in 18-Jul-2015

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