Belowisaspreadsheetofpurchaseordersfor acomputerhardwareretailer.
If purchase quantities of 25 units or higher are found to be large orders, and orders less
than
25 are considered to be small, what IF function should be entered in H4 to be copied to
H5:H10 to calculate each order’s size?
A) =IF(D4=AND=OR=25,”Large”,”Small”)
B) =IF(D4<>25,”Small”)=AND(D4=25,”Large”)
C) =IF(D4=25,”Large”)=OR(“Small”)
D) =IF(D4>=25,”Large”,”Small”)
Which of the following formulas calculates the Euclidean distance between X and Y?
A)
B)
C)
D)
Which of the following formulas are used to calculate the In-house recording cost?
A) B10*B12
B) B10*B12-B17
C) B6+B10*B12
D) =SUM(B6:B12)-B7
The data mining approach called ________ involves the developing of analytic models
to describe the relationship between metrics that drive business performance like
profitability, customer satisfaction, or employee satisfaction.
A) association
B) reduction
C) cause-and-effect modeling
D) classification
Which of the following uses the sum of squares between the objects in the cluster when
measuring their distances?
A) divisive clustering
B) average group linkage clustering
C) Ward’s hierarchical clustering
D) single linkage clustering
Type II error occurs when the test:
A) correctly fails to reject an actually true null hypothesis.
B) incorrectly fails to reject an actually false null hypothesis.
C) correctly rejects an actually false null hypothesis.
D) incorrectly rejects an actually true null hypothesis.
Fiberia Accessories, a clothing retailer, is planning to introduce a new line of sweaters
as part of the winter collection for $65 with an inventory of 1500. The main selling
season is 60 days between November and December. The store then sells the remaining
units in a clearance sale at 65 percent discount. Out of the 60 main retail days, Fiberia
sells the sweaters at full retail price for only 45 days, while giving a discount of 25
percent for the remaining 15 days. The demand functions a, and b are given as 79.5 and
1.1 respectively.
Calculate the total units sold during the discount sales period.
A) 388.13
B) 25.88
C) 133.3
D) 39.28
Which of the following is true while applying the Excel ANOVA tool?
A) The specified input range of data must be separated.
B) The sample size for each factor level must be the same.
C) The input range must be a rectangular region that contains all data.
D) Level of significance need not be specified.
Which of the following allow meaningful comparison of ranges, averages and other
statistics?
A) interval data
B) categorical data
C) ratio data
D) ordinal data
Pickson Luthiers Corporation makes four models of electric guitars, ScarCT, Dela Mort,
Warax, and Invazen. Each guitar must flow through five departments, assembly,
painting, sound testing, inspection, and packaging. The table below shows the relevant
data. Production rates are shown in units/hour. (ScarCT is assembled elsewhere).
Pickson wants to determine how many guitars to make to maximize monthly profit.
According to the linear optimization model, what is the net profit per unit on Dela
Mort?
A) $205,200
B) $108
C) $680
D) $90
The data for the number of hand-held gaming devices sold for the past 5 weeks are 15
units, 20 units, 25 units, 30 units, and 17 units respectively. The time series appears to
be relatively stable, without trend, seasonal, or cyclical effects; thus, a moving average
model would be appropriate. Setting k = 3 the three-period moving average forecast for
week 6 is ________.
A) 20 units
B) 24 units
C) 30 units
D) 17 units
The Excel 2010 function ________ computes the kth percentile of data in the range
specified in the array field, where k is in the range 0 to 1, inclusive.
A) PERCENTILE.INC(array, k)
B) PERCENTILE(array + k)
C) PERCENTILE.IF(array, k)
D) PERCENTILE(SUM(array), k)
Stone Age Surfboards is a small manufacturer of two types of popular high-tide
surfboards, the Rockwell and the Limestone models. The manufacturing process
consists of two departments: fabrication and finishing. The fabrication department has
15 skilled workers, each of whom works 5 hours per day. The finishing department has
5 workers, who also work a 5-hour shift. Each pair of Rockwell surfboards requires 3
labor hours in the fabrication department and 1.5 labor hours in finishing. The
Limestone model requires 4.5 labor- hours in fabrication and 2 labor-hours in finishing.
The company operates 6 days a week. It makes a per-unit profit of $60 on the Rockwell
model and $75 on the Limestone model. Approximately 4.1 Rockwell models and 8.4
Limestone models are produced per day.
What is the total number of hours used for the finishing operation?
A) 42.58
B) 50.10
C) 35.64
D) 22.95
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 share percentage in the third year.
A) 25 percent
B) 4 percent
C) 11 percent
D) 7 percent
Below is the table showing rate of shoes sold per day and the highest-priced shoe sold
that day for a one-week period. The rate of shoes sold per day (X) and the price of the
shoes (Y).
Use Excel to calculate the variance of X.
A) 271.33
B) 16.47
C) 49.57
D) 7.04
Below is a decision tree for the airline revenue management.
The expected value of perfect information (EVPI) is equal to the ________.
A) Expected Monetary Value (EMV) with perfect information minus the EMV without
any information
B) EMV with perfect information divided by the EMV without any information
C) sum of the EMV with information and the EMV without any information
D) EMV without any information minus the EMV with perfect information
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 will be the total profit contribution from Graystone surfboards?
A) $ 391.30
B) $ 521.74
C) $ 130.43
D) $ 276.65
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 total weighted distance that Shirley would travel
between the bungalows?
A) 4151.29
B) 1529.39
C) 3152.08
D) 4305.30
Misty Inc. launches a new range of perfumes for men and women. The probability of
high consumer demand for the product is 0.6 and low consumer demand is 0.4. The
probability of a favorable survey response given high consumer demand is 0.9 and the
probability of a favorable survey response given low consumer demand is 0.2.
If the marketing report is unfavorable, what is the probability of low demand?
A) 84%
B) 90%
C) 87%
D) 80%
Which of the following best defines objective functions?
A) They are limitations, requirements, or other restrictions that are imposed on any
solution in an optimization model.
B) They are quantities that an optimization model seeks to maximize or minimize.
C) They are quantities for which no feasible solutions exist in an optimization model.
D) They are unknown values that an optimization model seeks to determine.
Below is a payoff table that lists four mortgage options:
What is the average payoff for the 3-year ARM?
A) $ 52,792
B) $ 45,212
C) $ 51,094
D) $ 55,278
Below is the spreadsheet for a project selection model:
What is the return obtained from Project 5?
A) $ 200,000
B) $ 125,000
C) $ 275,000
D) $ 225,000