MATH 540- WEEK 11 FINAL EXAM

MATH 540- WEEK 11 FINAL EXAM

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  Question 1

5 out of 5 points

           

A cycle is an up and down movement in demand that repeats itself in less than 1 year.
 

  Question 2

5 out of 5 points

           

            Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality.

                       

  Question 3

5 out of 5 points

           

            In a total integer model, all decision variables have integer solution values. 


                       

  Question 4

5 out of 5 points

           

            Fractional relationships between variables are not permitted in the standard form of a linear program.
 

                       

  Question 5

5 out of 5 points

           

            Excel can be used to simulate systems that can be represented by both discrete and continuous random variables. 


                       

  Question 6

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 = 0, otherwise) the constraint x1 – x2 ≤ 0 implies that if project 2 is selected, project 1 cannot be selected.
 

                       

  Question 7

5 out of 5 points

           

            Events that cannot occur at the same time in any trial of an experiment are:

                       

  Question 8

5 out of 5 points

           

            Using the minimax regret criterion to make a decision, you

Answer                                   

                       

  Question 9

5 out of 5 points

           

            The probability of observing x
successes in a fixed number of trials is a problem related to

                       

  Question 10

5 out of 5 points

           

            Using the maximin criterion to make a decision, you

                       

  Question 11

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. 
 
            
 


                       

  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 storage space constraint?

                       

  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. In order to maximize profit, how many big shelves (B) and how many medium shelves (M) should be purchased?