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 weighted distance between Shirley’s new
accommodation and Bungalow 1?
A) 589.25
B) 435.89
) 346.77
D) 3152.08
The ________ is a formal statistical measure for categorical data, such as defects or
errors in quality control applications or consumer preferences in market research.
A) variance
B) proportion
C) mean
D) skewness
Coppell Services contracts with outsourcing partners to handle various customer service
functions. Based on a study of call volumes provided by one of the firm’s partners, the
minimum number of staff needed for each hour of the day is as follows:
Mr. Coppell hires 6 permanent employees and wants to staff the remaining
requirements using part-time employees who work 4-hour shifts (four consecutive
hours starting as early as 8 A.M. or as late as 1 P.M.).
How many excess employees are present in the noon-1 time slot?
A) 2
B) 4
C) 5
D) 6
Which of the following is true about multiple linear regression?
A) It is a linear regression model with more than one dependent variable.
B) The regression coefficients are called fractional regression coefficients.
C) It uses least squares to estimate the intercept and slope coefficients.
D) The ANOVA tests for the significance of each variable separately.
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.
Using an appropriate Holt -Winters trend model, calculate the value of the mean
absolute percentage error for the given data.
A) 8.10
B) 330.01
C) 384.83
D) 7.21
Which of the following formulas are used to calculate the In-house recording cost?
A) B10*B12
B) B10*B12-B17
C) B6+B10*B12
D) =SUM(B6:B12)-B7
Which of the following types of distributions use z-values to establish confidence
intervals?
A) Gaussian q-distribution
B) t-distribution
C) log-normal distribution
D) standard normal distribution
15 students were asked to choose between the broad categories of Arts, Science, and
Math as their preferred area of study.
Use the multiplication law of probability to compute the probability that the respondent
is male and prefers Math.
A) 8/75
B) 3/8
C) 3/225
D) 3/15
A children’s welfare fundraiser involves selling one thousand $70 tickets to win a
$20,000 grand prize. If the probability of winning is only 0.005, what is the expected
payoff?
A) -$40
B) -$50
C) $30
D) $60
In a linear relationship, which of the following accounts for the many possible values of
the dependent variable that vary around the mean?
A) the coefficient of the dependent variable X
B) the value of the intercept 0
C) the random error term ε
D) the standard error SYX
In a lower one -tailed hypothesis test, chosen level of significance = 0.10, sample size =
55, and t-test statistic = -1.76.
What is the observed level of significance?
A) 0.4605
B) 0.4191
C) 0.0379
D) 0.0420
The worldwide sales of cars from 1981 -1990 are shown in the table below. Given: α =
0.2, γ = 0.05, and season length = 1. (Hint: Use XLMiner).
Calculate the value of the mean absolute percentage error using the Holt-Winters
no-trend model for the given data.
A) 8.10
B) 18.39
C) 21.70
D) 10.97
The Atlas Movies Theater has repriced 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 new price for the three
classes obtained using Solver.
Assume the distributions of elasticities for three classes of tickets are uniform with
minimum and maximum values equal to 75% and 125% of their estimated values,
respectively. Under this assumption, use Monte Carlo simulation to see what happens to
the prediction of tickets sold. The model is simulated for 10,000 trials.
What is the coefficient of variation obtained from the simulation results?
A) 0.086
B) 0.120
C) 0.014
D) 0.048
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
The demand for coffee beans over a period of three months has been represented in the
form of an L-shaped curve. Which form of model was used here?
A) mathematical model
B) visual model
C) kinesthetic (tactile) model
D) verbal model
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.
Give an account of biased and unbiased estimators in sampling methods.
Below is the data collected from a manufacturing process for a part whose dimensions
are specified as 4.00 0.1 centimeters. Calculate the process capability index within three
standard deviations of the mean.
Manufacturing Measurements
4.78 3.99 5.02
4.23 4.57 4.44
5.18
Explain how a two-way data table is created.
The table below shows the sales per day at a grocery store over a period of a week.
Calculate the z-score for sales on Day 4.
What are the Excel functions to avoid in linear optimization?
What is a job-sequencing problem? How can we find an optimal solution for such
problems?
What are the Excel functions to avoid in linear optimization?