Jim is considering pursuing an MS in Information Systems degree. He has applied to
two different universities. The acceptance rate for applicants with similar qualifications
is 20% for University X and 45% for University Y.
What is the probability that Jim will be accepted at both universities?
In the ________ method, the largest possible allocation is made to the cell in the
upper-left-hand corner of the tableau, followed by allocations to adjacent feasible cells.
A research scientist has observed the monkeys of the Nandi Hills outside of Bangalore
for the last twenty years, carefully cataloging their preferences for a number of food
items. An unsuspecting tourist leaves his can of soda unattended. Describe the type of
probability the research scientist can assign to the likelihood that the soda will become
the monkey’s next meal. Then contrast this type of probability with the other of the two
basic types.
If price and demand are related by the function v = 15 + 15p and the fixed cost is $150
while the variable cost is $5, then the profit at a price of 20 Rupees is ________.
If we are solving a 0-1 integer programming problem, the constraint x1 ≤ x2 is a
________ constraint.
Due to increased sales, a company is considering building three new distribution centers
(DCs) to serve four regional sales areas. The annual cost to operate DC 1 is $500 (in
thousands of dollars). The cost to operate DC 2 is $600 (in thousands of dollars.). The
cost to operate DC 3 is $525 (in thousands of dollars). Assume that the variable cost of
operating at each location is the same, and therefore not a consideration in making the
location decision.
The table below shows the cost ($ per item) for shipping from each DC to each region.
Region
The demand for region A is 70,000 units; for region B, 100,000 units; for region C,
50,000 units; and for region D, 80,000 units. Assume that the minimum capacity for the
distribution center will be 500,000 units.
Write the objective function for this problem.
Given an EOQ model with shortages in which annual demand is 4200 units, Co = $160,
Cc = $7 per unit per year and CS = $25, what is the annual carrying cost?
Refer to the table below to answer the question(s) that follow:
What is the critical path for this project network?
Two psychology majors, in two different sections of Clinical Psychology, were
comparing test scores. The following gives the students’ scores, class mean, and
standard deviation for each section:
Section 1 Section 2Student score 84 75
Mean 75 60
Standard deviation 7 8
The weight of a loaf of bread is normally distributed with a mean of 22 oz and a
standard deviation of 0.5 oz. What is the probability that a loaf is between 21.75 and
22.25 oz?
This model was run in Excel and a portion of the answer report appears below. Provide
an interpretation.
Variable Cells
The daily sales of a peanut butter at Power’s Grocery are normally distributed, with a
mean of 12 jars and a standard deviation of 4. The manager checks the inventories on
shelves and places an order every three days. Delivery lead time is two days.
How much safety stock of peanut butter should they have for a 99% service level?
Consider the following linear program, which maximizes profit for two
products–regular (R) and super (S):
MAX 50R + 75S
s.t.
1.2 R + 1.6 S ≤ 600 assembly (hours)
0.8 R + 0.5 S ≤ 300 paint (hours)
.16 R + 0.4 S ≤ 100 inspection (hours)
Sensitivity Report:
A change in the market has increased the profit on the super product by $5. Total profit
will increase by ________.
For a standard normal distribution, what is the probability that z is greater than 1.75?
Determine the random number ranges for the data set (start with 00).
Demand Frequency
5 0.15
6 0.3
7 0.25
8 0.15
9 0.15
An assumption of Markov analysis is that the probability of moving from a state to all
other states sum to ________.
The XYZ manufacturing company produces ball bearings. The annual fixed cost is
$20,000 and the variable cost per ball bearing is $3. The price is related to demand
according to the following equation: 1000 – 8p.
Determine the profit for the optimal production quantities of soap and shampoo.