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Project teams are made up of individuals from various areas and departments within a
company.
The basic single-server queuing model assumes an infinite calling population.
The minimal spanning tree allows the visitation of each node without backtracking.
The dual form of a linear program is used to determine how much one should pay for
additional resources.
Excel can only be used to simulate systems that can be represented by continuous
random variables.
Components of a waiting line system include arrivals, servers, and the calling
population.
Utilization of 100% is necessary for a queuing system to reach a steady state.
The feasible solution area contains infinite solutions to the linear program.
Scoring models use consistency indexes to measure the degree of consistency between
choices.
Quantity discounts are always evaluated with carrying cost as a percentage of price.
The PERT pessimistic time estimate is an estimate of the minimum time an activity will
require.
In an unconstrained nonlinear programming problem, we have a single nonlinear
objective function and no constraints.
The payoffs for a mixed strategy game assumes that the game is played many times.
An opportunity cost table is developed by first subtracting the minimum value in each
row from all other row values and then repeating this process for each row.
Row operations are used to solve simultaneous equations where equations are
multiplied by constants and added or subtracted from each other.
The different objectives in a goal programming problem are referred to as goals.
The branch and bound solution method cannot be applied to 0-1 integer programming
problems.
A feasible solution to an integer programming problem is ensured by rounding down
non-integer solution values.
Independent demand items are used internally to produce a final product.
If we are solving a 0-1 integer programming problem, the constraint x1 ≤ x2 is a
mutually exclusive constraint.
Game theory addresses decision situations with two or fewer decision makers in
competition.
The coefficient of optimism is a measure of the decision maker's optimism.
The maximal flow algorithm may end with capacity remaining at the source.
The sequence of activities in a project is depicted by the precedence relationships.
Shortening the project's duration by deleting unnecessary activities is called crashing.
The maximax criterion is optimistic.
Time series is a category of statistical techniques that uses historical data to predict
future behavior.
Managers utilize spreadsheets to conduct their own analyses in management science
studies.
Queuing models provide optimal solutions to waiting line problems.
Queuing system operating statistics are constant over time.
The standard normal distribution has a mean of one and a standard deviation of zero.
A company markets educational software products and is ready to place three new
products on the market. Past experience has shown that for this particular software, the
chance of 'success" is 80%. Assume that the probability of success is independent for
each product. What is the probability that exactly 1 of the 3 products is successful?
A) 0.80
B) 0.032
C) 0.24
D) 0.096
Daily highs in Sacramento for the past week (from least to most recent) were: 95, 102,
101, 96, 95, 90 and 92. Develop a forecast for today using a weighted moving average,
with a weights of .6, .3, and .1, where the highest weights are applied to the most recent
data.
Determining the worst payoff for each alternative and choosing the alternative with the
best worst is called:
A) maximin.
B) minimin.
C) maximax.
D) minimax.
Taco Quatro
Taco Quatro can make their entire menu out of their fantastic four Mexican ingredients,
cheese, meat, beans and tortillas.
A Nacholupa needs 2 ounces of cheese, 4 ounces of beans and 3 tortillas. A Quesatilla
needs 4 ounces of cheese, 2 ounces of meat and 1 tortilla. An Enchinacho requires 2
ounces each of cheese, meat, and beans plus 3 tortillas. Their newest menu item, the
Burritaco needs 4 ounces of cheese, 2 ounces of meat and one tortilla. A Nacholupa
sells for $2.75, a Quesatilla sells for $2, an Enchinacho sells for $3 and the new
Burritaco sells for $4.
The assistant manager checks the cooler one fine Monday morning and sees that they
have 400 ounces of cheese, 150 ounces of meat, 400 ounces of beans and 250 tortillas
on hand.
What is an appropriate objective function for this scenario?
If fixed costs increase, but variable cost and price remain the same, the break-even
point:
A) decreases.
B) increases.
C) remains the same.
D) may increase or decrease depending on sales.
The processes of problem observation:
A) cannot be done until alternatives are proposed.
B) requires consideration of multiple criteria.
C) is the first step of decision making.
D) is the final step of problem solving.
A single-server waiting line system has an arrival pattern characterized by a Poisson
distribution with 3 customers per hour. The average service time is 12 minutes. The
service times are distributed according to the negative exponential distribution.A system
has 5 servers. Customers arrive at a rate of 6 per hour and service time is 20 minutes.
What is the system utilization?
A) .83
B) .40
C) .50
D) 20
The Vacation
Final exams are almost here and once they are done, it will be time to reward myself
with a well-deserved vacation. As a state employee, I haven't seen a raise since... well,
ever. Thus an important criterion, in fact the most important criterion is to find an exotic
region that can be visited inexpensively. There are three states of nature that could
impact costs in these five areas of interest, and they correspond to the relative strength
of the US Dollar against that region's dominant currency. Rather than squander my time
doing any actual publishable research, instead I have determined the average cost per
day to visit each region under each of the possible states of nature. This table, which
should not be construed as actual vacation advice, appears below.
After staring blankly at the options for several hours, the family decides they truly have
no idea which value of the dollar would be more likely and overall feel neither
optimistic nor pessimistic. What's the safest choice for them to make?
A) Scandinavia
B) Australia
C) Galapagos Islands
D) Eastern Europe
A store has determined that the weekly sales of a product is related to the number of
customers who visit the store and the square feet of shelf space, x, according to the
following equation: -20x2 - 10C2 + 40Cx + 120x - 200C + C represents the hundreds of
customers who visit their store. If a store averages 200 customers per week, which of
these methods represents the simplest way to determine the optimal number of square
feet of shelf space for the product?
A) Lagrangian functions
B) Excel Solver
C) substitution method
D) solution of simultaneous equations
E) none of the above
________ is a measure of the strength of the relationship between independent
variable(s) and a dependent variable.
A) Correlation
B) Linear regression
C) Coefficient of determination
D) Regression
At least one or both deviational variables in a goal constraint must equal:
A) 1
B) -1.
C) 0
D) 2
The Krewe of Orpheus
The Krewe of Orpheus maintains a supply of swizzle sticks for events throughout the
year. Demand for swizzle sticks is shockingly low, a quick check of krewe records from
last year reveals that they used only 585,000, but the krewe president believes that they
should be good stewards of what they have, so they seek to manage this inventory using
the EOQ policy, although they prefer to refer to it as an EOKrewe policy for obvious
reasons. Swizzle sticks are not expensive items, they cost a nickel apiece largely due to
the club logo printed on each one. This also serves to increase the lead time as they
can't be obtained from a standard restaurant supply house. Instead, they must be ordered
with an eye towards the six day lead time. It costs $15 to place an order, most of this
cost is a result of explaining the meaning of "Laissez les bons temps rouler" and why it
should be printed on the edge of each swizzle stick. Holding cost is 20% of purchase
price.
What should the order quantity for swizzle sticks be?
A) 41892
B) 34326
C) 26548
D) 18374
The slope of the line labeled "C" in the diagram is:
A) order rate.
B) rate of inventory demand.
C) production rate.
D) shipping rate.
A ________ is a gradual, long-term, up-or-down movement of demand.
A) seasonal pattern
B) cycle
C) trend
D) prediction
A difficult aspect of using spreadsheets to solve management science problems is:
A) obtaining the solution to standard management science problems.
B) data entry.
C) performing sensitivity analysis.
D) setting up a spreadsheet with complex models and formulas.
The leaving variable is determined by dividing the quantity values by the pivot column
values and selecting the:
A) maximum positive value.
B) minimum negative value.
C) minimum positive value.
D) maximum negative value.
Project Sand Mandala
Carrie meticulously calculated the early and late start and finish times for her latest
project and recorded them using different colors of sand on a pristine slab of white
marble. She used red for late start and late finish times and green for early start and
early finish times. Activity durations and their identifiers were written with black sand.
She finished her task and had an opportunity to admire her work only briefly before a
colleague came by and swept most of it away. Sadly, this was before Carrie could
record the numbers on a more permanent medium, so now she turns to you to help.
What is the early start time for activity G?
A) 11
B) 13
C) 15
D) 19
________ methods assume that what has occurred in the past will continue to occur in
the future.
A) Time series
B) Regression
C) Quantitative
D) Qualitative
The following data represents quarterly sales of lawnmowers.
Given forecast errors of 6, 4, 0 and -2, what is the mean squared error?
A) 14
B) 18.67
C) 16
D) 12
E) none of the above
The following is a graph of a linear programming problem. The feasible solution space
is shaded, and the optimal solution is at the point labeled Z*.
The equation for constraint DH is:
A) 4X + 8Y ≥ 32.
B) 8X + 4Y ≥ 32.
C) X + 2Y ≥ 8.
D) 2X + Y ≥ 8.
A rendering plant wishes to use the data (sales records from a few local businesses and
the month of the year) to help determine their supply level for the coming months. The
records shown in the table provide an excellent opportunity for you to assist them with
their forecasting.
What is the slope of the regression equation developed when the Sales data are used to
predict the Pounds?
A) 0.92
B) 0.86
C) 0.80
D) 0.71
What service level results in zero safety stock in reorder point calculations?
A) 0%
B) 33%
C) 50%
D) 80%
Armed only with his fingers, the owner decides that the safest forecasting approach is
exponential smoothing with an alpha of 0.8. He uses the January demand and the
January forecast just to get the ball rolling. Generate a forecast for the year using this
technique and then calculate forecast errors using MAPD. What is the mean absolute
deviation for this forecasting approach?
A) 4.13
B) 6.98%
C) 7.85%
D) 5.88%
Kushie's Coffee in Bangalore is a quaint establishment nestled near MG Road in the
central business district. It serves coffee and fruit cake to a clientele that has been
enjoying these products for over fifty years. The demand for coffee beans is 6600 cases
per year (each case has 24 ten-pound bags). It would be disastrous for them to run out
of coffee, so they keep a safety stock of 30 cases. The cases cost $4800 and it costs $5
per case to order coffee. As coffee is a perishable product, the holding cost is fairly high
at $40/case/year. The lead time to receive an order is seven days. Kushie's is open 300
days a year.
In the basic EOQ model, if lead time increases from 5 to 10 days, the EOQ will:
A) double.
B) increase, but not by double the amount.
C) remain the same.
D) decrease.
________ is used to analyze changes in model parameters.
A) Optimal solution
B) Feasible solution
C) Sensitivity analysis
D) A slack variable
________ has become increasingly crucial to compete in the modern international
business environment.
A) The Delphi method
B) Technological forecasting
C) Prediction
D) Exponential smoothing
Yowzah Bids
Yowzah receives bids from four companies we'll call A, B, C, and D to supply product
for the coming year. Renee DeCartes, the Yowzah VP of Plotting takes the bids and
creates this graph to bring to the next executive meeting.
Which level of anticipated demand is least sensitive to variations in fixed and variable
cost estimates?
A) 5,000
B) 10,000
C) 15,000
D) 20,000
It was a house with seven cats, four female and three male, and the litterbox was busier
than O'Hare Airport during the week of Thanksgiving. The beleaguered husband's home
office was right around the corner from the laundry room, where the litterbox was kept,
and heard three separate instances of use. What is the likelihood that none of the
instances were the work of the male cats?
A) .273
B) .187
C) .429
D) .079
It costs $50,000 to start a production process. Variable cost is $25 per unit and revenue
is $45 per unit. What is the break-even point?
A) 1000 units
B) 1111 units
C) 2000 units
D) 2500 units
Taco Quatro
Taco Quatro can make their entire menu out of their fantastic four Mexican ingredients,
cheese, meat, beans and tortillas.
A Nacholupa needs 2 ounces of cheese, 4 ounces of beans and 3 tortillas. A Quesatilla
needs 4 ounces of cheese, 2 ounces of meat and 1 tortilla. An Enchinacho requires 2
ounces each of cheese, meat, and beans plus 3 tortillas. Their newest menu item, the
Burritaco needs 4 ounces of cheese, 2 ounces of meat and one tortilla. A Nacholupa
sells for $2.75, a Quesatilla sells for $2, an Enchinacho sells for $3 and the new
Burritaco sells for $4.
The assistant manager checks the cooler one fine Monday morning and sees that they
have 400 ounces of cheese, 150 ounces of meat, 400 ounces of beans and 250 tortillas
on hand.
What is an appropriate objective function and constraints for this scenario?
For some value of Z, the probability that a standard normal variable is below Z is
0.3783. The value of Z is:
A) -0.81.
B) -0.31.
C) 0.82.
D) 1.55.
Taco Quatro
Taco Quatro can make their entire menu out of their fantastic four Mexican ingredients,
cheese, meat, beans and tortillas.
A Nacholupa needs 2 ounces of cheese, 4 ounces of beans and 3 tortillas. A Quesatilla
needs 4 ounces of cheese, 2 ounces of meat and 1 tortilla. An Enchinacho requires 2
ounces each of cheese, meat, and beans plus 3 tortillas. Their newest menu item, the
Burritaco needs 4 ounces of cheese, 2 ounces of meat and one tortilla. A Nacholupa
sells for $2.75, a Quesatilla sells for $2, an Enchinacho sells for $3 and the new
Burritaco sells for $4.
The assistant manager checks the cooler one fine Monday morning and sees that they
have 400 ounces of cheese, 150 ounces of meat, 400 ounces of beans and 250 tortillas
on hand.
Which of these is a decision variable for the LP formulation of this problem?
A) cheese
B) Nacholupa
C) 400
D) $2.75
The ________ is the maximum amount a decision maker would pay for additional
information.
A) expected opportunity loss
B) expected value
C) expected value of perfect information
D) bid price
A ________ probability distribution indicates the probability of r successes in n trials.
A) joint
B) subjective
C) marginal
D) binomial
The branch and bound method can be used for 0-1 integer programming problems by
adding a ________ 1 constraint for each 0-1 variable.
"It's me or the cat!" the exasperated husband bellowed to his well-educated wife.
"Hmmmm," she thought, "I could model this decision with a ________ constraint."
I know it's hard to believe that his job as a management scientist doesn't comfortably
keep him in Ferraris and caviar, but the insurance premiums on his ride are outrageous,
and frankly it doesn't get good gas mileage in the city. Hence, the management
scientist/landlord runs his model and receives this output. Provide an interpretation of
exactly what will happen in the coming weeks.
Comedy Pasture
A horse and two llamas are discussing the key areas of their domain on a lazy summer
afternoon. The llamas favor the pond and shade and like to browse the fruit trees and
oaks on the property, making their way to the barn only when their owner favors them
with some oats. The horse prefers to graze the grass and hay for food and drink from the
pond but will race up to the barn when the owner is handing out oats up there. Between
the three of them, they have stepped off the distances between many of these key points
several times and believe that they have developed an accurate map, shown below. As
incredible as it may seem, neither the horse nor the llamas have had any training in
management science, which is where you come in.
Llamas are pack animals and the owner occasionally has them tote supplies from the
barn to the fruit trees, oak trees, hay stand, shade area and down to the pond. What is
the shortest route from the barn to these five other locations?
Refer to the table below to answer the question(s) that follow:
What are the estimated expected completion (mean) times (in weeks) for activities
A-H?
A continuous random variable can take on a(n) ________ number of values within a
given interval.
The ________ method evaluates all feasible and infeasible solutions to determine the
optimal solution.
Consider the following linear programming problem:
MIN Z = 10x1 + 20x2
Subject to: x1 + x2 ≥ 12
2x1 + 5x2 ≥ 40
x2 ≤ 13
x1, x2 ≥ 0
At the optimal solution, what is the value of surplus associated with constraint 1 and
constraint 3, respectively?
Horatio Oscar Vineeth Lane (HOV Lane for short) records his commute times for a
period of one month and assigned them to five different categories as shown in the
table.
What is the average commute time for HOV Lane?
Refer to the figure below to answer the following questions.
Figure 3
Consider the network diagram given in Figure 3 with the indicated flow capacities
along each branch. What is the input- output constraint associated with the first node of
the network diagram for the 0-1 integer linear programming formulation of the maximal
flow problem?
The number of servers multiplied by the service rate is the ________ for a
multiple-server system.
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 by at least one of the two universities?
Sally has been running the following number of ads in the local newspaper to help
attract customers into her store. She has also been keeping track of customers who have
come into the store as a result of the ads, as well as the amount of money they spend.
This is the data from the last 4 weeks:
If Sally runs 15 ads, how much will sales increase?
An example of a ________ point is a distribution center or warehouse located between
plants and stores.
A large book publisher has five manuscripts that must be edited as soon as possible.
Five editors are available for doing the work, however their working times on the
various manuscripts will differ based on their backgrounds and interests. The publisher
wants to use an assignment method to determine who does what manuscript. Estimates
of editing times (in hours) for each manuscript by each editor is:
What are the linear programming constraints for manuscript 1 and editor C?
The local grocery store consists of two cashiers. The customers arrive at the checkout
according to the Poisson distribution and the service times are based on negative
exponential distribution. The average customer service time is 4 minutes and the
average time between the arrivals of successive customers is 3 minutes. Assume that
customers equally divide themselves between the two cashiers.
On average, how much time will the customer spend in line waiting to be served?
