GSM 534 Quiz 2 | Course Paper

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Trace the process of copying and pasting a cell, which has a formula in it, such that the

formula is not retained in the pasted cell.

A) Home – Paste – Paste Special – Paste Values

B) Home – Paste – Paste Special – Paste Validation

C) Home – Paste – Paste Special – Paste Formats

D) Home – Paste – Paste Special – Paste Formulas

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.

What is the coefficient of variation obtained from the simulation results?

A) 0.098

B) 0.134

C) 0.047

D) 0.020

Which of the following propositions describes an existing theory or belief?

A) standard deviation

B) null hypothesis

C) proportion

D) alternative hypothesis

Skewness describes the lack of symmetry of data.

Which of the following is the equation for calculating the coefficient of variation (CV)?

A) CV = standard deviation/mean

B) CV = standard deviation – z-score/mean (total variation)

C) CV = value of observation’s distance from mean/standard deviation

D) CV = mean/(standard deviation)2

Following is an extract from the Employee Payroll Database of HFR Informatics Inc.

What is the cumulative relative frequency of Ranks 1 and 2?

A) 0.80

B) 0.15

C) 0.30

D) 0.25

For an independent variable Y, the error associated with the ith observation is:

A) ei = Yi – Å¶i

B) Yi = (ei)2 – Å¶i

C) (Å¶i)2 ei = Yi

D) ei = (Yi + Å¶i)2

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

Which of the following is true of the equation [n â‰¥ (zÎ±/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 Ï€ is always set at 1.

D) The most conservative estimate for Ï€ is 0.5.

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 Graystone surfboards is increased by $10, what is the Allowable

Increase for Lava surfboards?

A) 30.00

B) 85.00

C) 16.67

D) 58.75

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 distance between Shirley’s new accommodation

and Bungalow 1?

A) 36.53

B) 14.53

C) 98.21

D) 23.12

If cellG7 containsthefunction, itstatesthatifthevalueincellC3is9, the

number 7 will be assigned to cell G7; if the value in cell C3 is not 9, the number 4 will

be assigned to cell G7.

A) =IF(G7=9)(G7=7)=OR(G7=4)

B) =IF(G7=7)=THEN(C3=9)=OR(C3=4)

C) =IF(C3=9)(C3=7)=OR(C3=4)

D) =IF(C3=9,7,4)

The central limit theorem states that if the population is normally distributed, then the

________.

A) mean of the population can be calculated without using samples

B) standard error of the mean will not vary from the population mean

C) sampling distribution of the mean will vary from sample to sample

D) sampling distribution of the mean will also be normal for any sample size

Below is a spreadsheet of purchase orders for a computer hardware retailer

To find the number of orders with A/P terms less than 25 months, what Excel formula

should be used in A12?

A) =COUNTIF(F4:F10,”<25″)

B) =COUNT(F4:F10,25)

C) =AVERAGE(F4:F10,”<25″)

D) =COUNTIF(F4:F10,F5)

Divisive clustering method is different from agglomerative clustering methods in that

divisive clustering methods ________.

A) can only have a pair of subjects in each cluster

B) separate objects into a particular cluster in one step

C) separate n objects successively into finer groupings

D) can only have a single subject in each cluster

Which of the following propositions describes an existing theory or belief?

A) standard deviation

B) null hypothesis

C) proportion

D) alternative hypothesis

The Riviera Transport Company (RTC) produces car accessories at two plants: Dallas

and Atlanta. They ship them to major distribution centers in Houston, San Jose,

Jacksonville, and Memphis. The accounting, production, and marketing departments

have provided the information in the table below, which shows the unit cost of shipping

between any plant and distribution center, plant capacities over the next planning

period, and distribution center demands. RTC’s supply chain manager faces the problem

of determining how much to ship between each plant and distribution center to

minimize the total transportation cost, not exceed available capacity, and meet customer

demand.

Assume Xij = amount shipped from plant i to distribution center j, where i = 1

represents Dallas, i = 2 represents Atlanta, j = 1 represents Houston, and so on.

According to the transportation model, what is the amount shipped from Atlanta to

Jacksonville?

A) 950

B) 480

C) 0

D) 95

The Delphi method used for forecasting:

A) obtains forecasts through a comparative analysis with a previous situation.

B) uses measures that are believed to influence the behavior of a variable that the

researcher wishes to forecast.

C) uses a single measure that weights multiple indicators and provides a measure of

overall expectation.

D) uses a panel of experts, whose identities are typically kept confidential from one

another, to respond to a sequence of questionnaires.

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 distance between Shirley’s new accommodation

and Bungalow 3?

A) 54.62

B) 25.08

C) 36.53

D) 23.12

Below is the spreadsheet for a portfolio allocation model.

Answer the following question(s) using a model with uncertainty on type of investment

return. Assume that the distributions of life insurance annual return is uniform with

minimum 4% and maximum 6%, bond mutual funds annual return is normal with mean

7% and standard deviation 1%, stock mutual funds annual return is lognormal with

mean 11% and standard deviation 4%. Use 10,000 trials and 1 for random seed for the

simulation.

What is the value of standard deviation obtained from the simulation results for

maximizing the total expected return? [Hint: Choose the approximate value.]

A) $ 1,346.78

B) $ 1,890.25

C) $843.52

D) $ 1,578.64