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1) The standard error of the estimate is also called the variance of the regression.
2) Error is the difference in the actual value and the predicted value.
3) Transporting goods from several origins to several destinations efficiently is called
the transportation problem.
4) The constraints in a transportation problem deal with requirements at each origin and
capacities at each destination.
5) The addition of a redundant constraint lowers the isoprofit line.
6) In linear programs with more than two decision variables, the area of feasible
solutions is represented by an n-dimensional polyhedron.
7) Table 8-3
A marketing research firm would like to survey undergraduate and graduate college
students about whether or not they take out student loans for their education. There are
different cost implications for the region of the country where the college is located and
the type of degree. The survey cost table is provided below:
The requirements for the survey are as follows:
1. The survey must have at least 1500 students
2. At least 400 graduate students
3. At least 100 graduate students should be from the West
4. No more than 500 undergraduate students should be from the East
5. At least 75 graduate students should be from the Central region
6. At least 300 students should be from the West
The marketing research firm would like to minimize the cost of the survey while
meeting the requirements. Let X1 = # of undergraduate students from the East region,
X2 = # of graduate students from the East region, X3 = # of undergraduate students
from the Central region, X4 = # of graduate students from the Central region, X5 = # of
undergraduate students from the West region, and X6 = # of graduate students from the
West region.
According to Table 8-3, the constraint that there must be at least 400 graduate students
is expressed as
A) X1 + X2 + X3 + X4 + X5 + X6 >=400.
B) X1 + X2 + X3 + X4 + X5 + X6 =< 400.
C) X1 + X3 + X5 >=400.
D) X2 + X4 + X6 >=400.
E) X1 + X2 + X3 >=400.
8) Table 13-5
According to Table 13-5, which presents a summary of the Monte Carlo output from a
simulation of 200 runs, there are 5 possible values for the variable of concern. If this
variable represents the number of machine breakdowns during a day, what is the
probability that the number of breakdowns is 2 or fewer?
A) 0.23
B) 0.31
C) 0.32
D) 0.63
E) None of the above
9) In a JIT system, inventory managers can uncover bottlenecks by introducing or
removing which of the following?
A) C-kanbans
B) P-kanbans
C) E-kanbans
D) T-kanbans
E) I-kanbans
10) The difference between the left-hand side and right-hand side of a
less-than-or-equal-to constraint is referred to as
A) surplus.
B) constraint.
C) slack.
D) shadow price.
E) None of the above
11) At a local fast food joint, cars arrive randomly at a rate of 12 every 30 minutes.
Service times are random (exponential) and average 2 minutes per arrival. The average
time in the queue for each arrival is
A) 2 minutes.
B) 4 minutes.
C) 6 minutes.
D) 8 minutes.
E) 10 minutes.
12) If, in the final optimal simplex tableau, the value for a nonbasic variable is
zero, this implies
A) infeasibility.
B) unboundedness.
C) degeneracy.
D) alternate optimal solutions.
E) None of the above
13) Given the following opportunity loss function, determine the loss when 1,100 units
are sold.
Opportunity loss = 3 (1,000 - X) for X ¤ 1,000, otherwise 0.
A) 0
B) -300
C) 300
D) 3
E) 600
14) Which of the following is a picture, drawing, or chart of reality?
A) scale model
B) physical model
C) mathematical model
D) schematic model
E) abstract model
15) The correlation coefficient resulting from a particular regression analysis was 0.25.
What was the coefficient of determination?
A) 0.5
B) -0.5
C) 0.0625
D) There is insufficient information to answer the question.
E) None of the above
16) Table M8-11
A company must assign mechanics to each of four jobs. The time involved varies
according to individual abilities. Table M8-11 shows how many minutes it takes each
mechanic to perform each job. If the optimal assignments are made, how many total
minutes would be required for completing the jobs?
A) 0
B) 4
C) 17
D) 16
E) None of the above
17) Explain what a discrete random variable is.
18) The number of defects that occur per unit of product follows a Poisson distribution
with a mean of 4 defects per unit. What is the standard deviation of this distribution?
19) Johnny's apple shop sells home-made apple pies and freshly squeezed apple juice.
Each apple pie requires 2 apples, and 1 apple yields 4 ounces of juice. Customer's use a
self-service dispenser to pour apple juice in a container and are charged by the ounce at
a rate of $0.50 per ounce. The contribution to profit of the apple pie, factoring in the
apples and remaining ingredients are $2 per pie, and the contribution to profit of freshly
squeezed apple juice if $0.20 per ounce. In a given day, there must be at least 100
ounces of apple juice produced and at least 10 apple pies. The company has a supply of
60 apples per day. What is the optimal solution? Apple pies must be produced in whole
quantities, but any positive value is positive for juice production.
20) The purchasing manager for a firm is trying to determine what the safety stock
should be for a particular product. She has developed the following table, which gives
the distribution of demand during the lead-time and the probabilities:
The carrying cost is $5 per unit per year, the ordering cost is $30 per order, and the
stockout cost is $40 per unit. The reorder point is 60 units, and 6 orders are placed each
year. What level of safety stock should be maintained?
21) Demand for local newspapers in King County during weekdays is normally
distributed with a mean of 500 and standard deviation of 100. The marginal loss per
paper is $0.10 and marginal profit is $0.40. How many newspapers should the local
publisher produce each day?
22) Johnny's apple shop sells home-made apple pies and freshly squeezed apple juice.
Each apple pie requires 2 apples, and 1 apple yields 4 ounces of juice. Customer's use a
self-service dispenser to pour apple juice in a container and are charged by the ounce at
a rate of $0.50 per ounce. The contribution to profit of the apple pie, factoring in the
apples and remaining ingredients are $2 per pie, and the contribution to profit of freshly
squeezed apple juice if $0.20 per ounce. In a given day, there must be at least 100
ounces of apple juice produced and at least 10 apple pies. The company has a supply of
60 apples per day. Formulate this problem as a mixed integer program. Apple pies must
be produced in whole quantities, but any positive value is positive for juice production.
23) ( The errors are independent. (2) The errors are normally distributed. (3) The errors
have a mean of zero. (4) The errors have a constant variance (regardless of the value of
X).
