Which of the following formulas is used to calculate the total studio recording cost?
A) =SUM(B6:B12)-B10
B) (B6+B7-B16)B12
C) B6+B7*B12
D) B6+B7*B12-B16
Consider the spreadsheet for a Newsvendor Model.
What is the value of mean profit?
A) $255.90
B) $251.45
C) $245.98
D) $264.00
A company makes standard 130- inch-wide rolls of thin sheet metal and slits them into
smaller rolls to meet customer orders for widths of 10, 14, and 25 inches. Suppose that
the company has proposed the following cutting patterns:
Demands for the coming week are 950 10-inch rolls, 725 14-inch roles, and 640
25-inch rolls. Develop a model using the Analytic Solver Platform that will determine
how many 130-inch rolls to cut into each of the six patterns in order to meet demand
and minimize scrap.
What is the total number of 10-inch rolls produced?
A) 940
B) 946
C) 950
D) 960
Following is an extract from the Cost per Order Database of Grogtes LLC.
Which of the following is true about quartiles?
A) The 25th percentile is called the fourth quartile.
B) One-fourth of the data fall below the fourth quartile.
C) Three-fourths of the data are below the third quartile.
D) The 50th quartile is the third percentile.
For the given data, what is the sales forecast for the year 1992 (in thousands)?
A) 1256.87
B) 1317.91
C) 1285.74
D) 1350.08
Sheila joined Simsin Tradings at the age of 36 with a starting salary of $ 75,000. She
expects a salary increase of 5 percent every year. Her retirement plan requires her to
pay 9 percent of her salary, while the company matches it at 32 percent. She expects an
annual return of 7 percent on her retirement portfolio. Using a predictive model for
Sheila’s first five years, calculate the following, assuming that the salary increases at the
same rate every year, and the return of interest does not change.
What will be Sheila’s salary in her second year of work at Simsin?
A) $81,750
B) $82,688
C) $78,750
D) $ 75,000
The table below provides the sales data for JD Inc. for the year 1998. Given: α = 0.2,
β = 0.15, and γ = 0.05 (Hint: Use an additive Holt-Winters model.)
Umbrella Sales of JD Inc.
What is the value of the mean absolute deviation for the given data?
A) 8.10
B) 340.73
C) 14.82
D) 7.62
How many gallons will be sold if the price is increased to $4.75?
A) 833.26
B) 843
C) 798.72
D) 818
U-botit.com is an electronic commerce company that sells music online. It keeps a tab
of what genre of music their registered customers buy. If u-botit.com were to use the
data mining approach of association, which of the following actions would it take?
A) send recommendations to customers based on their buying habits
B) conduct surveys to customers to gauge customer satisfaction
C) classify the customers based on the genre of music they listen to
D) provide discounts to certain genre buyers where sales are less
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 both Graystone and Lava surfboards is increased by $10, what is the
shadow price for the finishing hours used?
A) -4.35
B) 8.33
C) 20.65
D) 32.46
How is the return to risk described in financial statistics?
A) as the relative measure of the distance an observation is from the mean
B) as the reciprocal of coefficient of variation
C) as the square root of variance
D) as the ratio of excess returns to its standard deviation
Below is a payoff table with three mortgage options:
What is the expected opportunity loss for the 30-year fixed decision?
A) $ 7,979.60
B) $ 3,959.40
C) $ 6,853.50
D) $ 8,621.40
Identify the correct statement from the following.
A) The events that a respondent is female and chooses Math are not independent.
B) All events are independent of each other.
C) The events that a respondent is male and chooses Science are not dependent.
D) The events that a respondent is female and that she chooses Science are independent.
Robin Inc. feared that the average company loss is running beyond $34,000. It initially
conducted a hypothesis test on a sample extracted from its database. The hypothesis
was formulated as H0: average company loss $34,000 vs. H1: average company loss >
$34,000. The test resulted in favor of Robin Inc.’s loss not exceeding $34,000. Detailed
study of company accounts later revealed that the average company loss had run up to
$37,896. Which of the following errors were made during the hypothesis test?
A) Type III error
B) Type II error
C) Type I error
D) Type IV error
In finance, the ________ is the ratio of a fund’s excess returns (annualized total returns
minus Treasury bill returns) to its standard deviation.
A) field ratio
B) Sortino ratio
C) Calmar ratio
D) Sharpe ratio
In the cause-and-effect modeling, internal metrics, such as employee satisfaction,
productivity, and turnover are considered to be ________ measures.
A) logit
B) life
C) leading
D) lagging
Which of the following describes variance?
A) It is the difference between the maximum value and the minimum value in the data
set.
B) It is the difference between the first and third quartiles of a data set.
C) It is the average of the squared deviations of the observations from the mean.
D) It is the average of the greatest and least values in the data set.
The Ransin Sports Company has noted that the size of individual customer orders is
normally distributed with a mean of $112 and a standard deviation of $9. If a soccer
team of 11 players were to make the next batch of orders, what would be the standard
error of the mean?
A) 1.64
B) 2.71
C) 3.67
D) 0.82