Question 1
5 out of 5 points
In a 0-1 integer programming problem involving a capital
budgeting application (where xj = 1, if project j is selected, xj
... [Show More] =
0, otherwise) the constraint x1 – x2 ≤ 0 implies that if project 2 is
selected, project 1 cannot be selected.
Answer
Selected
Answer: Fals
e
Correct
Answer: Fals
e
Question 2
5 out of 5 points
Adjusted exponential smoothing is an exponential smoothing
forecast adjusted for seasonality.
Answer
Selected
Answer: Fals
e
Correct
Answer: Fals
e
Question 3
5 out of 5 points
A cycle is an up and down movement in demand that repeats
itself in less than 1 year.
Answer
Selected
Answer: Fals
e
Correct
Answer: Fals
e
Question 4
5 out of 5 points
If we are solving a 0-1 integer programming problem, the
constraint x1 = x2 is a conditional constraint.
Answer
Selected
Answer: Fals
e
Correct
Answer: Fals
e
Question 5
5 out of 5 points
In a transshipment problem, items may be transported from
destination to destination and from source to source.
Answer
Selected
Answer: Tru
e
Correct
Answer: Tru
e
Question 6
5 out of 5 points
Excel can be used to simulate systems that can be represented
by both discrete and continuous random variables.
Answer
Selected
Answer: Tru
e
Correct
Answer: Tru
e
Question 7
5 out of 5 points
A business owner is trying to decide whether to buy, rent, or
lease office space and has constructed the following payoff table
based on whether business is brisk or slow.
The conservative (maximin) strategy is:
Answer
Selected
Answer:
Leas
e
Correct
Answer:
Leas
e
Question 8
5 out of 5 points
Events that cannot occur at the same time in any trial of an
experiment are:
Answer
Selected
Answer:
mutually
exclusive
Correct
Answer:
mutually
exclusive
Question 9
5 out of 5 points
A business owner is trying to decide whether to buy, rent, or
lease office space and has constructed the following payoff table
based on whether business is brisk or slow.
If the probability of brisk business is .40 and for slow business is .
60, the expected value of perfect information is:
Answer
Selected
Answer:
12
Correct
Answer:
12
Question 10
5 out of 5 points
In linear programming problems, multiple optimal solutions occur
Answer
Selected
Answer:
when the objective function is parallel to a
constraint line
Correct
Answer:
when the objective function is parallel to a
constraint line
Question 11
5 out of 5 points
In a break-even model, if all of the costs are held constant, how
does an increase in price affect the model?
Answer
Selected
Answer:
Breakeven point
decreases
Correct
Answer:
Breakeven point
decreases
Question 12
5 out of 5 points
Steinmetz furniture buys 2 products for resale: big shelves (B)
and medium shelves (M). Each big shelf costs $100 and requires
100 cubic feet of storage space, and each medium shelf costs
$50 and requires 80 cubic feet of storage space. The company
has $25000 to invest in shelves this week, and the warehouse
has 18000 cubic feet available for storage. Profit for each big
shelf is $85 and for each medium shelf is $75. What is the
objective function?
Answer
Selected
Answer:
Max Z = 85B +
75M
Correct
Answer:
Max Z = 85B +
75M
Question 13
5 out of 5 points
Steinmetz furniture buys 2 products for resale: big shelves (B)
and medium shelves (M). Each big shelf costs $100 and requires
100 cubic feet of storage space, and each medium shelf costs
$50 and requires 80 cubic feet of storage space. The company
has $25000 to invest in shelves this week, and the warehouse
has 18000 cubic feet available for storage. Profit for each big
shelf is $85 and for each medium shelf is $75. What is the
storage space constraint?
Answer
Selected
Answer:
100B + 80M ≤
18000
Correct
Answer:
100B + 80M ≤
18000
Question 14
5 out of 5 points
The production manager for Beer etc. produces 2 kinds of beer:
light (L) and dark (D). Two resources used to produce beer are
malt and wheat. He can obtain at most 4800 oz of malt per week
and at most 3200 oz of wheat per week respectively. Each bottle
of light beer requires 12 oz of malt and 4 oz of wheat, while a
bottle of dark beer uses 8 oz of malt and 8 oz of wheat. Profits for
light beer are $2 per bottle, and profits for dark beer are $1 per
bottle. What is the optimal weekly profit? [Show Less]