A(n) ________ is an extreme value that is different from the rest of the data.
A) critical value
B) standard error
C) expected value
D) outlier
The Riviera Transport Company (RTC) produces car accessories at two plants: Dallas
and Atlanta. They ship them to major distribution centers in Houston, San Jose,
Jacksonville, and Memphis. The accounting, production, and marketing departments
have provided the information in the table below, which shows the unit cost of shipping
between any plant and distribution center, plant capacities over the next planning
period, and distribution center demands. RTC’s supply chain manager faces the problem
of determining how much to ship between each plant and distribution center to
minimize the total transportation cost, not exceed available capacity, and meet customer
demand.
Assume Xij = amount shipped from plant i to distribution center j, where i = 1
represents Dallas, i = 2 represents Atlanta, j = 1 represents Houston, and so on.
According to the transportation model, what is the amount shipped from Atlanta to
Jacksonville?
A) 950
B) 480
C) 0
D) 95
Cerebro Manufacturing produces four types of structural support fittings-plugs, rails,
rivets, and clips-which are machined on two CNC machining centers. The machining
centers have a capacity of 250,000 minutes per year. The gross margin per unit and
machining requirements are shown in the spreadsheet below.
What is the gross margin per minute of rivets manufactured?
A) $ 0.60
B) $ 0.73
C) $ 0.40
D) $ 0.27
The sort buttons in Excel can be found under:
A) the Data tab in the Sort & Filter group.
B) the Home tab in the Styles group.
C) the Insert tab in the Sort group.
D) the Sort tab in the Filter group.
Problem statements such as production must be sufficient to meet promised customer
orders would be categorized as a ________ constraint.
A) limitations
B) requirements
C) proportional relationships
D) balance
Which of the following statements is true when using the Excel Regression tool?
A) The range for the independent variable values must be specified in the box for the
Input Y Range.
B) Checking the option Constant is Zero forces the intercept to zero.
C) The Regression tool can be found in the Tools tab under Insert group.
D) Adding an intercept term reduces the analysis’ fit to the data.
Stone Age Surfboards is a small manufacturer of two types of popular low-tide
surfboards, the Graystone and the Lava models. The manufacturing process consists of
two departments: fabrication and finishing. The fabrication department has 8 skilled
workers, each of whom works 9.25 hours per day. The finishing department has 5
workers, each of whom works a 6 -hour shift per day. Each pair of Graystone
surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in
finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in
finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the
Graystone model and $60 on the Lava model. The company anticipates selling at least
twice as many Lava models as Graystone models.
What is the Allowable Decrease for Graystone surfboards produced?
A) 30.74
B) 80.00
C) 12.33
D) 6.67
Below is a spreadsheet for Trance Electronics.
Suppose that the project manager of Trance Electronics has identified the following
uncertain variables in the model and the distributions and parameters that describe
them, as follows: Market size: normal with mean of 20,000,000 units and standard
deviation of 4,000,000 units. R&D costs: uniform between $600,000,000 and
$800,000,000.
Clinical trial costs: lognormal with mean of $150,000,000 and standard deviation
$30,000,000. Annual market growth factor: triangular with minimum = 2%,
maximum = 6%, and most likely = 3%.
Annual market share growth rate: triangular with minimum = 15%, maximum =
25%, and most likely = 20%.
The number of trials per simulation is equal to 10,000 at a Sim. Random Seed of 2. Run
the simulation and answer the following questions using the Risk Solver Platform.
What is the correlation of the R&D cost with the NPV with reference to the sensitivity
chart?
A) -0.404
B) 0.028
C) 0.908
D) -0.194
Pickson Luthiers Corporation is studying where to locate a phone charging point on the
factory floor. The locations of five production cells are expressed as X– and
Y-coordinates on a rectangular grid of the factory layout. The daily demand for the
charging point (measured as the number of trips to the charging point) at each
production cell is also known. Because of the nature of the equipment layout in the
factory and for safety reasons, workers must travel along marked horizontal and vertical
aisles to access the charger. Thus, the distance from a cell to the charger is measured as
rectilinear distance.
The table below provides the relevant information.
The optimal location should minimize the total weighted distance between the charging
point and all production cells, where the weights are the daily number of trips to the
phone charging point.
According to the model, which of the following is the Y-coordinate for the phone
charger location?
A) 1.50
B) 1.00
C) 3.00
D) 5.00
What is the confidence coefficient when the level of significance is 0.03?
A) 0.9700
B) 0.0376
C) 0.7924
D) 0.7776
Shirley Templeton is a real estate agent for Paralol Realty. Shirley is given the
responsibility to manage potential customers for 5 of the Realty’s bungalows. These 5
bungalows are situated in close proximity. In order to make traveling easier, Shirley
decides to move to a location closer to the 5 bungalows. The table below gives the
location (X and Y coordinates) of the 5 bungalows along with the number of trips she
would have to make to each bungalow. Create a nonlinear model based on the data
given in the table below noting that the objective is to reduce the weighted distance
between Shirley’s accommodation and the 5 bungalows.
According to the model, what is the Y-coordinate for the location of Shirley’s new
accommodation?
A) 91.16 B) 25.08 C) 98.21 D) 54.62
isalogicalfunctionthatreturnsonevalueiftheconditionistrueandanotherifthe condition is false
A) OR(condition 1, condition 2’¦)
B) AND(condition 1, condition 2’¦)
C) TO(value if true, value if false)
D) IF(condition, value if true, value if false)
Which of the following is a difference between a mean and a median?
A) A mean divides the data half above it and half below it; a median does not.
B) A median is not affected by outliers; a mean is affected by outliers.
C) A mean is an observation that occurs most frequently; a median is the average of all
observations.
D) A median is not meaningful for ratio data; a mean is meaningful to ratio data.
Jonathan Reese is considering three stocks in which to invest with a fixed budget. The
table below provides information on Jonathan’s expected returns for each stock. The
table also provides information, collected from market researchers, on the
variance-covariance matrix of the individual stocks. He expects a total return of at least
10%.
Develop a quadratic optimization model to find the optimal allocation of the budget to
each stock, and variance calculations for squared terms and cross-products based on the
variance-covariance matrix.
According to the model, what is the cross-product value for Stock 2 variance?
A) 0.00080
B) -0.00080
C) -0.00075
D) 0.01132
If the given time series has no trend and no seasonality, the most appropriate forecasting
model to determine the forecast of the time series is the ________ model.
A) single moving average
B) Holt-Winters no-trend smoothing
C) double exponential smoothing
D) Holt-Winters additive
Following is an extract from the Employee Payroll Database of HFR Informatics Inc.
What is the relative frequency of Grade 3 employees?
A) 4
B) 0.55
C) 0.20
D) 5
Dresden Pharmaceuticals has decided to go ahead and start clinical trials on a potential
new drug. The total R&D costs are estimated to reach around $875,000,000 with
clinical trials mounting to $145,000,000. The current market size is estimated to be
around 3,000,000 and is expected to grow at 4 percent every year. The market share
Dresden hopes to capture in the first year is 7 percent, and is projected to grow by 25
percent each year for the next 4 years. A monthly prescription is anticipated to generate
revenue of $420 while incurring variable costs of $150. A discount rate of 8 percent is
assumed.
Calculate the market size for the second year.
A) 3,000,000
B) 273,000
C) 3,244,800
D) 3,120,000
Stone Age Surfboards is a small manufacturer of two types of popular low-tide
surfboards, the Graystone and the Lava models. The manufacturing process consists of
two departments: fabrication and finishing. The fabrication department has 8 skilled
workers, each of whom works 9.25 hours per day. The finishing department has 5
workers, each of whom works a 6 -hour shift per day. Each pair of Graystone
surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in
finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in
finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the
Graystone model and $60 on the Lava model. The company anticipates selling at least
twice as many Lava models as Graystone models.
If the unit profit on Graystone surfboards is increased by $10, what is the Allowable
Decrease for Lava surfboards?
A) 30.00
B) 85.00
C) 16.67
D) 58.75
Pickson Luthiers Corporation is studying where to locate a phone charging point on the
factory floor. The locations of five production cells are expressed as X– and
Y-coordinates on a rectangular grid of the factory layout. The daily demand for the
charging point (measured as the number of trips to the charging point) at each
production cell is also known. Because of the nature of the equipment layout in the
factory and for safety reasons, workers must travel along marked horizontal and vertical
aisles to access the charger. Thus, the distance from a cell to the charger is measured as
rectilinear distance.
The table below provides the relevant information.
The optimal location should minimize the total weighted distance between the charging
point and all production cells, where the weights are the daily number of trips to the
phone charging point.
According to the model, which of the following is the weighted distance between the
phone charger and Measurements cell?
A) 12.00
B) 75.00
C) 7.00
D) 54.00
Stone Age Surfboards is a small manufacturer of two types of popular low-tide
surfboards, the Graystone and the Lava models. The manufacturing process consists of
two departments: fabrication and finishing. The fabrication department has 8 skilled
workers, each of whom works 9.25 hours per day. The finishing department has 5
workers, each of whom works a 6 -hour shift per day. Each pair of Graystone
surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in
finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in
finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the
Graystone model and $60 on the Lava model. The company anticipates selling at least
twice as many Lava models as Graystone models.
What is the Allowable Decrease for Graystone surfboards produced?
A) 30.74
B) 80.00
C) 12.33
D) 6.67
The Atlas Movies Theater has repriced their ticket rates to maximize revenues. They
have three classes of tickets: Classic, Silver, and Gold. The table below provides
information on the average ticket sales, revenue and price elasticity on demand. They
have a total seating capacity of 300. The table also provides the new price for the three
classes obtained using Solver.
Assume the distributions of elasticities for three classes of tickets are uniform with
minimum and maximum values equal to 75% and 125% of their estimated values,
respectively. Under this assumption, use Monte Carlo simulation to see what happens to
the prediction of tickets sold. The model is simulated for 10,000 trials.
What is the value of mean obtained from the simulation results?
A) 450
B) 300
C) 400
D) 250
Which of the following is true about Excel outputs Multiple R?
A) It is often referred to as the coefficient of determination.
B) A value of 0 indicates positive correlation.
C) A negative slope of the regression line denotes a positive Multiple R.
D) It is another name for the sample correlation coefficient, r.
Which of the following is true of the value of k in the k-Nearest Neighbors algorithm?
A) The value of k is always taken as a constant and is equal to 1.
B) If the value of k is large, it drastically increases variability.
C) If the value k is very large, it introduces biases into the classification decisions.
D) If the value k is large, the classification of a record is very sensitive to the
classification of the single record to which it is closest.