A script writer has received an advance against royalties of $10,000. The royalty rate is
$2 for every performance in the U.S., and $3 for every performance outside the U.S.
Write an expression that could be used to compute the number of performances in order
to cover the advance.
The efficiency of sample information is the ratio of the expected value of sample
information to ________.
In the ________ method, the constraint equation is solved for one variable in terms of
another and then substituted into the objective function.
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.
What is the optimal production quantity?
SS 1 2
1 100 5 6
2 200 4 2
3 150 3 6
4 50 9 7
DD 250 250
What are the demand-side constraints?
The cost to send a unit of product from supply source A to demand location B would be
represented in the ________ of the linear programming statements.
A Markov assumption is that the probabilities in each row sum to ________ because
they are mutually exclusive and collectively exhaustive.
In a constraint, the ________ variable represents unused resources.
Ashley’s manufactures home furnishings for department stores. Planning is underway
for the production of the following items during the next production period:
Quilts (x1) Blinds (x2)
Pillows (x3)
Fabric required (yards) (d1) 7
4 9
Time required (hours) (d2) 1.5 2
0.5
Packaging material (ounces) (d3) 3 2
1
Profit (d4) 12
10 8
Ashley has 3000 yards of material in stock for this production period. Five hundred
hours of production time are scheduled and 400 ounces of packaging material is
available. Each of these quantities can be adjusted through overtime or extra purchases.
Ashley’s highest priority is to achieve a profit of $3200. Her second priority is to avoid
additional purchases of packaging material. Third, she wants to use all of the scheduled
production hours, and fourth, minimize any fabric remaining from the 3000 yards. Note
that the deviational variables associated with each item are given in the table.What is
the packaging material constraint?
3x1 + 2x2 + 1x3 + d3
A crew of mechanics at the Department of Transportation garage make minor repairs to
snowplows during the winter. The snowplows break down at an average rate of 4
vehicles per day and breakdowns are distributed according to the Poisson distribution.
The mechanic can service an average of 7 vehicles per day with a repair time
distribution that approximates a negative exponential distribution. Assume an 8 hour
day.
Approximately how many vehicles are in the garage, waiting for repairs or being
repaired?
Given the nonlinear programming model Max Z = 5x1 – 2x2
2
Subject to: x1 + x2 = 6
What are the optimal values of x1 and x2?
If we are solving a 0-1 integer programming problem, the constraint x1 + x2 = 1 is a
________ constraint.
Dana Swor’s Dream Store sells weight loss products. Her best-selling item, an energy
booster and fat burning pill, has an annual demand of 400 units. Ordering cost is $40
and carrying cost is $5 per unit year. How many units should she order to minimize
total inventory costs?
The ________ of the value of investment is a measure of risk.
________ is a measure of dispersion of random variable values about the expected
value.