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1) A media selection LP application describes a method in which media producers select
customers.
2) The simplex method begins with an initial feasible solution in which all real
variables are set equal to 0.
3) Assignment problems involve determining the most efficient assignment of people to
projects, salesmen to territories, contracts to bidders, and so on.
4) If we are using a simulation queuing model, we still have to abide by the assumption
of a Poisson arrival rate, and negative exponential service rate.
5) TIME SERIES models enable the forecaster to include specific representations of
various qualitative and quantitative factors.
6) Qualitative models produce forecasts that are a little better than simple guesses or
coin tosses.
7) A parameter is a measurable quantity that may vary or is subject to change.
8) If there are seven less-than-or-equal constraints in a problem, the simplex table
contains seven slack variables.
9) We can usually determine an appropriate safety stock even if we are unable to
accurately assess the actual cost of a stockout.
10) Balking customers are those who enter the queue but then become impatient and
leave without completing the transaction.
11) Table 11-6
What is the variance of Table 11-6's critical path?
A) 5.222
B) 4.364
C) 1.362
D) 5.144
E) 2.362
12) Table 10-6
The profit function for a set of two electronics products can be expressed by the
following expression: X1
2 -2X1 -3X2 + 2X2
2 where X1 = the number of product 1 units
produced and X2 = the number of product 2 units produced. At least 10 units of X1 must
be produced and at least 20 units of X2 must be produced. No more than 50 units total
can be produced.
What is the optimal solution to the problem described in Table 10-6?
A) X1 = 50; X2 = 0
B) X1 = 30; X2 = 20
C) X1 = 20; X2 = 30
D) X1 = 25; X2 = 25
E) X1 = 0; X2 = 25
13) Consider a project that has an expected completion time of 60 weeks and a standard
deviation of five weeks. What is the probability that the project is finished in 70 weeks
or fewer? (Round to two decimals.)
A) 0.98
B) 0.48
C) 0.50
D) 0.02
E) 0.63
14) A post office has a single line for customers waiting for the next available postal
clerk. There are two postal clerks who work at the same rate. The arrival rate of
customers follows a Poisson distribution, while the service time follows an exponential
distribution. The average arrival rate is three per minute and the average service rate is
two per minute for each of the two clerks. What is the average length of the line?
A) 3.429
B) 1.929
C) 1.143
D) 0.643
E) None of the above
15) An n x m matrix, when added to an m x n matrix, yields
A) an n x m matrix.
B) an m x n matrix.
C) a 2(n x m) matrix.
D) a 2n x 2m matrix.
E) None of the above
16) A person is using the normal distribution to determine the safety stock for a product.
The Z value of 1.65 would be associated with what service level?
A) 90 percent
B) 95 percent
C) 100 percent
D) 92.5 percent
E) None of the above
17) All of the following are used for marginal analysis with the normal distribution in a
single period model except
A) the mean sales for the product.
B) the standard deviation of sales.
C) marginal profit for the product.
D) marginal loss for the product.
E) median sales for the product.
18) A post office has a single line for customers waiting for the next available postal
clerk. There are two postal clerks who work at the same rate. The arrival rate of
customers follows a Poisson distribution, while the service time follows an exponential
distribution. The average arrival rate is three per minute and the average service rate is
two per minute for each of the two clerks. What proportion of time are both clerks idle?
A) 0.643
B) 0.250
C) 0.750
D) 0.143
E) None of the above
19) There is a tutoring lab at a university that holds 20 students. Due to the popularity
of the 3 tutors, the lab is always at capacity. Each student approaches a tutor an average
of 2 times per hour, and a tutor spends on average 5 minutes per question from a
student. The service time follows an exponential distribution.
(a) What proportion of the time are the tutors busy?
(b) What is the average waiting time for students in queue?
20) Which of the following is not true about continuous random variables?
A) They have an infinite set of values.
B) The area under each of the curves represents probabilities.
C) The entire area under each of the curves equals 1.
D) Some may be described by uniform distributions or exponential distributions.
E) They can only be integer values.
21) The maximal-flow technique would best be used
A) to assign workers to jobs in the cheapest manner.
B) to determine the number of units to ship from each source to each destination.
C) to determine LAN network wiring within a building.
D) to maximize traffic flow on a busy highway.
E) by a trucking company making frequent but repeatable drops.
22) Table M1-1
Jason Rule has developed the following table to represent his research into the decision
as to which college he would like to attend after graduation:
Table M1-1 portrays Jason's initial evaluation of the colleges of interest. Jason has now
decided that he should emphasize Yearly Cost somewhat less, and Social Life
somewhat more. His new ratings are: Yearly Cost: 0.30, and Social Life: 0.20. What
will be his order of preference with these new weights?
A) UM, MSU, BC, PC, UNH
B) MSU, PC, UNH, BC, UM
C) MSU, UNH, UM, BC, PC
D) UNH, BC, UM, MSU, PC
E) None of the above
23) Given the following gasoline data:
(a) Compute the seasonal index for each quarter.
(b) Suppose we expect year 3 to have annual demand of 800. What is the forecast value
for each quarter in year 3?
24) Multiply matrix by .
A)
B)
C)
D)
E) None of the above
25) Classify the following problems as to whether they are pure-integer, mixed-integer,
zero-one, goal, or nonlinear programming problems.
(a) Maximize Z = 5 X1 + 6 X1 X2 + 2 X2
Subject to: 3 X1 + 2 X2 >= 6
X1 + X2 =< 8
X1, X2 >= 0
(b) Minimize Z = 8 X1 + 6 X2
Subject to: 4 X1 + 5 X2 >= 10
X1 + X2 =< 3
X1, X2 >= 0
X1, X2 = 0 or 1
(c) Maximize Z = 10 X1 + 5 X2
Subject to: 8 X1 + 10 X2 = 10
4 X1 + 6 X2 >= 5
X1, X2 integer
(d) Minimize Z = 8 X12 + 4 X1 X2 + 12 X22
Subject to: 6 X1 + X2 >= 50
X1 + X2 >= 40
26) The classical method of determining probability is
A) subjective probability.
B) marginal probability.
C) objective probability.
D) joint probability.
E) conditional probability.
27) Table 12-2
According to the information provided in Table 12-2, which presents a queuing problem
solution, on average, how many units are in the line?
A) 5.455
B) 3.788
C) 1.091
D) 0.758
E) 0.833
28) An IT project requires 6 activities. The table below displays the expected time and
budgeted cost for each activity.
Develop a budget for the 15 weeks of the project using ES times.
29) Three fast food hamburger restaurants are competing for the college lunch crowd.
Burger Bills has 40% of the market while Hungry Heifer and Salty Sams each have
30% of the market. Burger Bills loses 10 % of its customers to Hungry Heifer and 10%
to Salty Sams each month. Hungry Heifer loses 5% of its customers to Burger Bills and
10% to Salty Sams each month. Salty Sams loses 10% of its customers to Burger Bills
while 20% go to Hungry Heifer. What will the market shares be for the three businesses
next month?
30) In making a decision, both ________ and quantitative factors must be considered.
31) A furniture company is producing two types of furniture. Product A requires 8 board
feet of wood and 2 lbs of wicker. Product B requires 6 board feet of wood and 6 lbs of
wicker. There are 2000 board feet of wood available for product and 1000 lbs of wicker.
Product A earns a profit margin of $30 a unit and Product B earns a profit margin of $40
a unit. Formulate the problem as a linear program.
32) A cruise line is planning its menu for the next trip. Vacationers like eating steak,
lobster, and chicken. The cruise line has decided to plan for at least half of all booked
passengers to have a steak dinner, for at least a quarter of all passengers to have lobster,
and the rest to have chicken. Steak dinners cost the company $8, lobsters cost $15, and
chicken costs the line $4. On the next cruise, there are 400 passengers booked. In
addition, the cruise line has decided to plan for an additional 25% more meals than
bookings. Formulate the appropriate linear program.
33) There is a 60% chance that a customer without a smart phone will buy one this year.
There is a 95% chance that a customer with a smart phone will continue with a smart
phone going into the next year. If 30% of target market currently own smart phones,
what is the long-run percentage of the target market that will own smart phones?
34) What size matrix is yielded when an n x m matrix is added to an n x m matrix?
35) A water company is analyzing the flow of water through pipes in an office building.
The flow capacities are given in the table below. Flow is measured in 100 gallons/hour.
What is the maximal flow of water from node 1 to node 5?
36) Evaluate the determinant .
37) Briefly describe decision making under risk.
