Which of the following is true of association rule mining?
A) It develops analytic models to describe the relationship between metrics that drive
business performance.
B) It identifies attributes that occur frequently together in a given data set.
C) It seeks to classify a categorical outcome into one of two or more categories.
D) It is a data reduction technique that reduces large information into smaller
heterogeneous groups.
In the linear trend equation, Ft+k = at + btk, at is known as the ________.
A) level
B) trend
C) slope
D) forecast
Below is the spreadsheet for Memphis Designs fixed cost model:
What is the binary constraint at the end of the third quarter?
A) 75
B) 200
C) 450
D) 0
The spreadsheet below shows the net income model for a company that sells shoes.
Which of the following formulas would be used to calculate the operating expenses?
A) =SUM(B7:B10)
B) =SUM(B7:B9)
C) =SUM(B7:B9)-B6
D) =SUM(B7:10)-B11
If the given time series has a trend and seasonality, the most appropriate forecasting
model to determine the forecast of the time series is the ________ model.
A) multiple regression
B) Holt-Winters no trend smoothing
C) double exponential smoothing
D) Holt-Winters multiplicative
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
Allowable Decrease for Lava surfboards?
A) 95.00
B) 38.46
C) 20.00
D) 11.11
Below is a spreadsheet for Stone Age Surfboards.
Assume that the finishing time for a pair of Rockwell surfboards is triangular with a
minimum value of 1.4, a most likely value of 1.5, and a maximum value of 1.8 and that
finishing time for a pair of Limestone surfboards is also triangular with a minimum
value of 1.8, a most likely value of 2.0, and a maximum value of 2.4. The number of
trials per simulation is equal to 5000.
How often will overtime be needed if 4.55 Rockwell and 9.09 Limestone surfboards,
the optimal solution, are scheduled each day?
A) more than 60%
B) more than 87%
C) more than 75%
D) more than 52%
Below is a table showing the costs per order of items bought by a computer hardware
store.
Calculate the mode for the cost per order data.
A) $174.17
B) $325
C) $88
D) $206.5
In a curvilinear regression model, the ________ represents the curvilinear effect.
A) intercept
B) error term
C) slope
D) R Square
Which of the following sampling methods bases its selection of samples on the ease of
data collection?
A) probabilistic sampling
B) judgment sampling
C) simple random sampling
D) convenience sampling
If the smoothing constant is assumed to be 0.7, and setting F1 and F2 = A1, the
exponential smoothing sales forecast for week 7 is approximately ______.
A) 50 clocks
B) 80 clocks
C) 60 clocks
D) 70 clocks
Use the table below to answer the following question(s) using the standard Solver.
Below is the spreadsheet for a plant location model:
What is the total amount shipped by the Baltimore plant to the distribution centers?
A) 750
B) 1,000
C) 1,250
D) 1,300
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
________ is based on dividing a population into subgroups, sampling a set of
subgroups, and conducting a complete census within the subgroups sampled.
A) Cluster sampling
B) Continuous process sampling
C) Judgment sampling
D) Systematic sampling
Which of the following is true of the equation [n ≥ (zα/2)2 ] for computing
the sample size required to achieve a desired confidence interval half-width for a
proportion?
A)The sample size calculated will only be an approximation.
B) The standard deviation need not be calculated first in order to compute the sample
size.
C) The value for π is always set at 1.
D) The most conservative estimate for π is 0.5.