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
The Atlas Movies Theater is planning to reprice 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 price range within
which they plan to reduce their ticket rates.
According to the nonlinear model, which of the following is the projected sales figure
for Gold tickets at the new price?
A) 32
B) 90
C) 33
D) 178
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.
What is the average daily sale during the full retail sales period?
A) 15
B) 33.33
C) 8
D) 24.55
Which of the following is true of midspread?
A) It is an example of a measure of location.
B) It is calculated by finding the difference between the highest and lowest values in the
data set. C) It is affected by extreme values.
D) It is calculated using only the middle 50% of the data.
________ is the parameter that specifies when the Solver algorithm will terminate an
optimization process with integer constraints.
A) Mutation Rate
B) Population Size
C) Integer Tolerance
D) Convergence
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
In the linear trend equation Ft+k = at + btk, identify the term that signifies the trend.
A) bt
B) k
C) at
D) Ft + k
Following is the Sales database of Pointler’s Inc., a manufacturer of clothing material.
Use Excel to calculate the total $ amount earned from sales of all denim items to
Prioland
A) $4449.42
B) $22213
C) $388
D) $57.25
Which of the following is true of logistic regression as a classifying method?
A) Its dependent variable is always categorical.
B) Its independent variable is always continuous or numerical.
C) It predicts the probability of output variables based on dependent variables.
D) It cannot be used when the dependent variable is binary.
Following is an extract from the database of a construction company. The table shows
the height of walls in feet and the cost of raising them. The estimated simple linear
regression equation is given as Ŷ = b0 + b1X. (Hint: Use Excel functions).
What is the value of the coefficient b0?
A) -2.25321
B) 0.010697
C) 254.8371
D) 86.81704
In a lower one -tailed hypothesis test, chosen level of significance = 0.10, sample size =
55, and t-test statistic = -1.76.
Which of the following computes the test statistic for a one-sample test for proportions?
A) z =
B) z =
C) z =
D) z =
The manager at Soul Walk Inc., a shoe manufacturing company, wants to set a new
price (P) for a shoe model to maximize total profit. The demand (
D) as a function of price is represented as:
D = 1,500 – 2.5P
The total cost (C) as a function of demand is represented as:
C = 3,200 + 3.5D
Which of the following is a model for total profit as a function of price?
A) (1,508.75 price) – (2.5 price2) – 8,450
B) (3.5 price2) + 3,200 – (1925.50 price)
C) (1,250 price) + (5 price2) – 8,320
D) [4521 + (4.5 price)] price – 9684.25
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 X-coordinate for the phone
charger location?
A) 2.00
B) 3.00
C) 3.50
D) 4.00
The spreadsheet below shows the net income model for a company that sells shoes.
Which of the following would be used to calculate the gross profit?
A) =SUM(B7:B11)-B6
B) =B5-B6
C) =B5-(B6-B11)
D) =B5-B6+(B11-B10)
Remington Textiles has a mill that produces three types of fabrics on a make-to-order
basis. The mill operates on a 24/7 basis. The key decision facing the plant manager is
about the type of loom needed to process each fabric during the coming 12 weeks to
meet demands for the three fabrics and not exceed the capacity of the looms in the mill.
Two types of looms are used: Jaquard and Northrop. Jaquard looms can be used to
make all fabrics and are the only looms that can weave certain fabrics, such as plaids.
Demands, variable costs for each fabric, and production rates on the looms are given in
the table below. The mill has 10 Northrop looms and 2 Jaquard looms. Any fabrics that
cannot be woven in the mill because of limited capacity will be purchased from an
external supplier, finished at the mill, and sold at the selling price. In addition to
determining which looms to use to process the fabrics, the manager also needs to
determine which fabrics to buy externally.
From the Sensitivity Report, what cost reduction ($/hour) would make it feasible to
purchase some amount of Fabric 2 from the external supplier rather than just produce
it?
A) $0.6
B) $0.25
C) $0.128
D) $1.1
Which of the following is true about determining the proper form of the hypotheses?
A) H0 is statistically proved true while testing
B) failure to reject H0 proves H1 wrong
C) H0 is always assumed to be true in testing
D) H1 is always assumed to be true in testing
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
Latin Hypercube sampling differs from Monte Carlo sampling in that the Latin
Hypercube sampling ________.
A) selects random variates independently over the entire range of possible values of the
distribution
B) uses an uncertain variable whose probability distribution is divided into intervals of
equal probability
C) is used for evaluating the model performance under various what-if scenarios
D) achieves less accurate forecast statistics for a fixed number of trials
Which of the following charts provides a useful means for displaying data over time?
A) Scatter chart
B) A doughnut chart
C) Pie chart
D) Line chart
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
For the given data, calculate the value of the simple moving average mean absolute
percentage error.
A) 20.90
B) 23.45
C) 14.39
D) 25.56
The Atlas Movies Theater is planning to reprice 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 price range within
which they plan to reduce their ticket rates.
Which of the following is true of the nonlinear model created for the Atlas movie ticket
repricing scenario?
A) The projected revenue for the Gold class is infeasible within the price range
provided.
B) The projected value for most tickets sold is for the Silver class.
C) The total projected tickets sold exceed the total seating capacity.
D) The projected revenue is lowest for the Gold tickets.
While testing hypotheses for regression coefficients, the t-test for the slope is expressed
as:
A) t =
B) t =
C) t =
D) t =
________ provide information about the unknown values of the true regression
coefficients, accounting for sampling error.
A) Standard errors
B) Confidence intervals
C) Adjusted R Squares
D) P-values