The analytics gurus at Zevon realize that they had misformulated their demand curves.
They now believe that demand for X1 is given by 1000 – 2.25p1, demand for X2 is
given by 2000 – 3p2, and demand for X3 is given by 3000 – 3.5p3. This model is entered
in Excel and the sensitivity report contains the following:
Provide an interpretation of all elements.
________ is inventory that is used to help protect against stockouts.
________ uses large amounts of data with management science techniques and
modeling to help managers make decisions.
A newly opened bed-and-breakfast projects the following:
Monthly fixed costs $8000
Variable cost per occupied room per night $40
Revenue per occupied room per night $165
Write the expression for total cost per month.
The following data summarizes the historical demand for a product:
Use a four-period moving average to determine the forecasted demand for July, August,
and September.
The ________ the variability in an investment portfolio, the ________ the risk of the
investment portfolio.
What is the area under the normal curve for Z ≥ 1.79?
A bakery uses an average of 60 ounces of organic orange juice daily. Demand is
normally distributed with a standard deviation of 15 ounces. The bakery places orders
every seven days. The lead time for delivery of the juice is three days.
Compute the safety stock required to achieve a 98% service level.
When the ________ criterion is used, the decision maker selects the decision alternative
that minimizes the maximum regret.
Canning Transport wants to move goods from three (3) factories to three (3) distribution
centers. Information about the move is given below:
Shipping costs are (in $):
According to the Northwest Corner method, the initial solution would give to cell CIII a
loading of ________.
In a bank drive-through, there is a single service window and room only for two cars to
line-up to wait for service. The mean time between arrivals for drive through customers
is 5 minutes. The mean time to complete a customer transaction is 3 minutes. The
number of arrivals is distributed according to a Poisson distribution and the service
times are exponentially distributed.
What is the probability that there are no vehicles in the system?
A random number table features numbers that are derived from a(n) ________ process.
Customers arrive at a candy shop every 8 minutes on average. The arrival rate is
________.
In a single-server queuing system, if 10 customers arrive per hour, and 20 customers are
served per hour, what is the probability that there are no customers in the system?
Given the nonlinear programming model Max Z = 4x1 – 1x1x2 + 5x2 – 2 x2
2
Subject to: x1 + 2x2 = 4
What is the Lagrangian function?
4x1 – 0.1x1x2 + 5x2 – 0.2x2
Given the following information for a project, draw the AON (Activity-On-Node)
project network.
