In multiple regression, R Square is referred to as the:
A) multiple correlation coefficient.
B) coefficient of autocorrelation.
C) coefficient of multiple determination.
D) multiple significance coefficient.
Below is a room overbooking model spreadsheet for the Metza, a hotel chain. The hotel
has 425 rooms priced at $180 per day each, and is usually fully booked. Reservations
can be cancelled any time before 5:00 p.m. with no penalty. The hotel estimates an
average overbooking cost of $150. Customer demand is set at 400 with an average
cancellation of 20.
Which of the following is the excel formula used to estimate overbooked customers?
A) =MIN(0,B5-B15)
B) =MAX(0,B15-B5)
C) =MAX(B11,B12)
D) =MIN(B11-B12,B11-B14)
Which option in Risk Solver Platform allows you to choose the number of times that
random values can be generated for the uncertain cells in the model?
A) Trials per Simulation
B) Simulations to Run
C) Only Run
D) Sim.Random Seed
Following is the Sales database of Pointler’s Inc., a manufacturer of clothing material.
Use Excel to calculate the total $ amount of sales made to Quintasia. Include the sale of
fur, jute, and leather.
A) $193
B) $4185.47
C) $25250.19
D) $130.83
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 will be the total profit contribution from Graystone surfboards?
A) $ 391.30
B) $ 521.74
C) $ 130.43
D) $ 276.65
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 14-inch rolls produced?
A) 721
B) 725
C) 728
D) 740
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 net income value using
only the data value?
A) =SUM(B5:B10)-B11
B) =SUM(B5:B11)
C) =B5-SUM(B6:B11)
D) =B5-SUM(B6:B10)+B11
Pickson Luthiers Corporation makes four models of electric guitars, ScarCT, Dela Mort,
Warax, and Invazen. Each guitar must flow through five departments, assembly,
painting, sound testing, inspection, and packaging. The table below shows the relevant
data. Production rates are shown in units/hour. (ScarCT is assembled elsewhere).
Pickson wants to determine how many guitars to make to maximize monthly profit.
According to the linear optimization model, which of the following departments uses all
the time that it is allocated to finish its job?
A) assembly
B) painting
C) inspection
D) packaging
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
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 value of slack obtained from the answer report?
A) 46.78
B) 38.46
C) 59.24
D) 23.85
Consider the following spreadsheet for an outsourcing decision model.
We assume that the production (demand) volume is normally distributed with a mean of
1,000 and a standard deviation of 100. For the unit cost, select the triangular
distribution. It has a minimum value of $150, most likely value of $165, and a
maximum value of $190. The number of trials per simulation is equal to 5,000 at a Sim.
Random Seed of 1. Run the simulation and answer the following question(s) using the
Risk Solver Platform.
What is the cost difference lower cutoff in thousands of dollars if the likelihood is 60%?
A) approximately 13.56
B) approximately 22.45
C) approximately 29.67
D) approximately 38.97
The table provided below gives the sales details of the number of android smart phones
at an electronic retail store for the past 6 weeks. The time series appears to be relatively
stable, without trend, seasonal, or cyclical effects. (Hint: Optimize α value in 0.1
increments)
What is the forecasted value for the 3rd week?
A) 53 phones
B) 64 phones
C) 71 phones
D) 49 phones
An unbounded problem is one for which ________.
A) the objective is maximized or minimized by more than one combination of decision
variables
B) there is no solution that simultaneously satisfies all the constraints
C) the objective can be increased or decreased to infinity or negative infinity while the
solution remains feasible
D) there is exactly one solution that will result in the maximum or minimum objective
In the equation for calculating a confidence interval for a proportion, p za/2,
what
does represent?
A) the mean for the sampling distribution of the proportion
B) the degree of freedom for the sampling distribution of the proportion
C) the standard error for the sampling distribution of the proportion
D) the estimator for sampling distribution of the proportion
Greg is indifferent between receiving $2,000, and taking a chance at $2,500 with
probability 0.7 and losing $1200 with probability 0.5. What is the expected value of this
gamble?
A) $ 1,150
B) $ 1,800
C) $ 1,460
D) $ 2,045
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 2?
A) 91.16
B) 23.12
C) 98.21
D) 14.53
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 $60 on the Lava model. The company anticipates selling at least
twice as many Lava models as Graystone models.
Use the spreadsheet below for Stone Age Surfboards to answer the following
question(s) using integer constraints on variables in the optimization models using the
standard Solver.
What is the quantity of Graystone surfboards produced?
A) 2
B) 5
C) 7
D) 10
The table below provides the sales data for JD Inc. for the year 1998. Given: α = 0.2,
β = 0.15, and γ = 0.05 (Hint: Use an additive Holt-Winters model.)
Umbrella Sales of JD Inc.
What will be the predicted sales for umbrellas for the month of February of year 2?
A) 4530.19
B) 4648.21
C) 4883.76
D) 4818.07
Level of significance is the probability of:
A) incorrectly rejecting an actually true null hypothesis.
B) correctly failing to reject an actually true null hypothesis.
C) incorrectly failing to reject an actually false null hypothesis.
D) correctly rejecting an actually false null hypothesis.
Which of the following helps in evaluation of autocorrelation?
A) Breusch-Pagan test
B) Durbin-Watson statistic
C) Hosmer-Lemeshow test
D) Cochran-Mantel-Haenszel statistics
Using a$ signbeforeacolumnlabel____________.
A) keeps the reference to both the row and column fixed
B) keeps the reference to the row fixed, but allows the column reference to change
C) keeps the reference to column fixed, but allows the row reference to change
D) allows both the row and column references to change
In the z-score formula, which of the following is true if the value in the numerator is a
negative value?
A) that the xi value lies to the left of the mean
B) that the mean is of lesser value than the xi value
C) that the mean is of negative value
D) that the numerator value cannot be divided by the standard deviation
For which of the following MATCH functions must the values in the lookup_array be
ordered in a descending order?
A) When match_type = -1
B) When match_type >1
C) When match_type = 0
D) When match_type = 1
Pickson Luthiers Corporation makes four models of electric guitars, ScarCT, Dela Mort,
Warax, and Invazen. Each guitar must flow through five departments, assembly,
painting, sound testing, inspection, and packaging. The table below shows the relevant
data. Production rates are shown in units/hour. (ScarCT is assembled elsewhere).
Pickson wants to determine how many guitars to make to maximize monthly profit.
According to the linear optimization model, what would be the total time spent for
sound testing the Warax model?
A) 5
B) 4
C) 6
D) 10.5