MOB 375 Test 1 | Course Paper

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Which of the following generates a scatter chart in Excel with the values predicted by

the regression model included?

A) Trendline

B) Residual Plots

C) R Square

D) Line Fit Plots

The table below provides the sales data for JD Inc. for the year 1998. Given: Î± = 0.2,

Î² = 0.15, and Î³ = 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

In _____ functions, represented by y = abx, y rises or falls at constantly increasing rates.

A) logarithmic

B) power

C) exponential

D) polynomial

Identify the formula used to calculate the root mean square error over a range of

forecasted values, if the actual value of the time series at time t and the forecast value

for time t are denoted by At and Ft respectively.

A) RMSE =

B) RMSE =

C) RMSE =

D) RMSE =

What is a database?

A) a structured collection of related files and data

B) simply a collection of data

C) a data file holding a single file

D) flat files used to store data

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.

Due to decreasing profits, if the production of Graystone surfboards is stopped,

compute the total profit the firm can earn.

A) $ 521.74

B) $ 489.13

C) $ 423.91

D) $ 500.00

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.

According to the model, what is the total cost incurred by Remington for producing the

three fabrics?

A) $96,540.47

B) $149,240.47

C) $96,227.82

D) $88,862.65

The Ransin Sports Company has noted that the size of individual customer orders is

normally distributed with a mean of $112 and a standard deviation of $9. Which of the

following is the answer for the probability that the next individual who buys a product

will make a purchase of more than $116?

A) 71%

B) 48%

C) 33%

D) 42%

Which of the following is the root cause for the newsvendor problem?

A) uncertainty in supply

B) uncertainty in demand

C) high cost per unit sale

D) high total production cost

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 is the net profit per unit on Dela

Mort?

A) $205,200

B) $108

C) $680

D) $90

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

What is the relative frequency of Grade 3 employees?

A) 4

B) 0.55

C) 0.20

D) 5

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 total cost incurred by Riviera

Transport Company?

A) $29,016.95

B) $26,698.95

C) $20,331.35

D) $41,978.75

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, which of the following bungalows is Shirley’s new

accommodation closest to?

A) Bungalow 1

B) Bungalow 5

C) Bungalow 2

D) Bungalow 4

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 weighted distance between the

phone charger and Packaging cell?

A) 10.50

B) 0

C) 7.00

D) 14.00

Below are four options for an investment decision.

Identify the average utility for the growth fund decision.

A) 1.05

B) 0.70

C) 0.20

D) 0.60

Which of the following is a difference between relative addressing and absolute

addressing when using cell formulas in Excel?

A) A relative address uses a dollar sign before either the row or column label; an

absolute address uses the ampersand symbol before either the row or column label.

B) A relative address uses a dollar sign before either the row or column label; an

absolute address uses just the row and column label in the cell reference.

C) A relative address uses just the row and column label in the cell reference; an

absolute address uses a dollar sign before either the row or column label.

D) A relative address uses only the column label in the cell reference; an absolute

address uses the row.