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strayer mat540 final exam 2013

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Question;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

 

Paper#61045 | Written in 18-Jul-2015

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