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Words 1144

Pages 5

Words 1144

Pages 5

• Question 1

2 out of 2 points Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed. Answer Selected Answer: False

Correct Answer: False • Question 2

2 out of 2 points If two events are not mutually exclusive, then P(A or B) = P(A) + P(B) Answer Selected Answer: False

Correct Answer: False • Question 3

2 out of 2 points Probability trees are used only to compute conditional probabilities. Answer Selected Answer: False

Correct Answer: False • Question 4

2 out of 2 points Both maximin and minimin criteria are optimistic. Answer Selected Answer: False

Correct Answer: False • Question 5

0 out of 2 points The minimin criterion is optimistic. Answer Selected Answer: False

Correct Answer: True • Question 6

2 out of 2 points The Hurwicz criterion is a compromise between the maximax and maximin criteria. Answer Selected Answer: True

Correct Answer: True • Question 7

0 out of 2 points The maximin approach involves choosing the alternative with the highest or lowest payoff. Answer Selected Answer: True

Correct Answer: False • Question 8

2 out of 2 points Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. Find the probability that a randomly selected college student will take between 2 and 6 minutes to find a parking spot in the main parking lot.

Answer

Selected Answer:

0.6247

Correct Answer:

0.6247

• Question 9

0 out of 2 points The chi-square test is a statistical test to see if an observed data fit a _________.

Answer…...

...MAT 540 Quiz 3 1. If the objective function is parallel to a constraint, the constraint is infeasible. [pic]True [pic]False 2. In minimization LP problems the feasible region is always below the resource constraints. [pic]True [pic]False 3. Surplus variables are only associated with minimization problems. [pic]True [pic]False 4. A linear programming model consists of only decision variables and constraints. [pic]True [pic]False 5. In a linear programming problem, all model parameters are assumed to be known with certainty. [pic]True [pic]False 6. A linear programming problem may have more than one set of solutions. [pic]True [pic]False 7. The following inequality represents a resource constraint for a maximization problem: X + Y ≥ 20 [pic]True [pic]False 8. Cully furniture buys 2 products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 100 cubic feet of storage space, and each medium shelf costs $300 and requires 90 cubic feet of storage space. The company has $75000 to invest in shelves this week, and the warehouse has 18000 cubic feet available for storage. Profit for each big shelf is $300 and for each medium shelf is $150. What is the objective function? |[pic]| |MAX Z = $300B + $100 M | |[pic]| |MAX Z = $300M +...

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...MAT 540 Quiz Answers 1) Deterministic techniques assume that no uncertainty exists in model parameters. Answer: TRUE Diff: 1 Page Ref: 489 Main Heading: Types of Probability Key words: deterministic techniques 2) Probabilistic techniques assume that no uncertainty exists in model parameters. Answer: FALSE Diff: 1 Page Ref: 489 Main Heading: Types of Probability Key words: probabilistic techniques 3) Objective probabilities that can be stated prior to the occurrence of an event are classical or a priori. Answer: TRUE Diff: 2 Page Ref: 489 Main Heading: Types of Probability Key words: objective probabilities, classical probabilities 4) Objective probabilities that are stated after the outcomes of an event have been observed are relative frequencies. Answer: TRUE Diff: 2 Page Ref: 489 Main Heading: Types of Probability Key words: relative frequencies 5) Relative frequency is the more widely used definition of objective probability. Answer: TRUE Diff: 1 Page Ref: 490 Main Heading: Types of Probability Key words: relative frequencies 6) Subjective probability is an estimate based on personal belief, experience, or knowledge of a situation. Answer: TRUE Diff: 2 Page Ref: 490 Main Heading: Types of Probability Key words: subjective probability 7) An experiment is an activity that results in one of several possible outcomes. Answer: TRUE Diff: 1 Page Ref: 491 Main Heading: Fundamentals of Probability Key words: ......

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...Explanation: I conducted a random simulation with the information provided based on 52 base week calendar. Author B. Taylor stated “simulation can be applied to a number of problems that are too difficult to model and solve analytically” (Taylor, 2009). In this case the results were based on the use of one copy machine, intervals of breakdown, requiring 1-4 days for repair at a loss, at $0.10 cents a copy. Day 1: 20%, Day 2: 45%, Day 3: 25%, Day 4: 10% a total probability of 100%. The point of this case study is to simulate the break-down and repair process for one year to obtain an average annual loss of revenue. In addition the amount of time between breakdowns increases the probability of needing more costly repairs. Should the anticipated lost revenue exceeds $12,000.00 annually a backup copier will be purchased. We must keep in mind the most important factors of customer satisfaction and convenience, which is what, prompted the owners of JET to start their business in the first place. The first part of creating the probability of breakdowns relied upon information supplied by Jet Copies and their estimated probability of distribution. The nearby college staff had prior knowledge of the service provider’s timelines for repair because they had the same copier in the campus office. JET used their own estimated repair time to recreate a random repair time probability table using a range of days. As a result the average repair time was 3 days at a cost of $691......

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... Question 1 2 out of 2 points | | | Probabilistic techniques assume that no uncertainty exists in model parameters. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 2 2 out of 2 points | | | Fixed cost is the difference between total cost and total variable cost. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 3 2 out of 2 points | | | In general, an increase in price increases the break even point if all costs are held constant. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 4 2 out of 2 points | | | Parameters are known, constant values that are usually coefficients of variables in equations.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 5 2 out of 2 points | | | P(A | B) is the probability of event A, if we already know that event B has occurred. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 6 2 out of 2 points | | | If events A and B are independent, then P(A|B) = P(B|A). Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 7 2 out of 2 points | | | A binomial probability distribution indicates the probability of r successes in n trials. Answer | | | | ...

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...Week 9 Quiz 5: 1. In a _______ integer model, some solution values for decision variables are integer and others can be non-integer. a. total b. 0 – 1 c. mixed d. all of the above 2. In a total integer model, some solution values for decision variables are integer and others can be non-integer. TRUE/FALSE 3. In a problem involving capital budgeting applications, the 0-1 variables designate the acceptance or rejection of the different projects. TRUE/FALSE 4. If a maximization linear programming problem consist of all less-than-or-equal-to constraints with all positive coefficients and the objective function consists of all positive objective function coefficients, then rounding down the linear programming optimal solution values of the decision variables will ______ result in a(n) _____ solution to the integer linear programming problem. A) always, optimal B) always, non-optimal C) never, non-optimal D) sometimes, optimal E) never, optimal 5. The branch and bound method of solving linear integer programming problems is an enumeration method. TRUE/FALSE 6. In a mixed integer model, all decision variables have integer solution values. TRUE/FALSE 7. For a maximization integer linear programming problem, feasible solution is ensured by rounding _______ non-integer solution values if all of the constraints are less-than -or equal- to type. A) up and down B) up C) down D) up or down 8. In a total integer model, all...

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...Question 1 2 out of 2 points Fixed cost is the difference between total cost and total variable cost. Answer Selected Answer: True Correct Answer: True Question 2 2 out of 2 points Parameters are known, constant values that are usually coefficients of variables in equations. Answer Selected Answer: True Correct Answer: True Question 3 2 out of 2 points In general, an increase in price increases the break even point if all costs are held constant. Answer Selected Answer: False Correct Answer: False Question 4 2 out of 2 points Probabilistic techniques assume that no uncertainty exists in model parameters. Answer Selected Answer: False Correct Answer: False Question 5 0 out of 2 points If events A and B are independent, then P(A|B) = P(B|A). Answer Selected Answer: True Correct Answer: False Question 6 2 out of 2 points P(A | B) is the probability of event A, if we already know that event B has occurred. Answer Selected Answer: True Correct Answer: True Question 7 2 out of 2 points A binomial probability distribution indicates the probability of r successes in n trials. Answer Selected Answer: True Correct Answer: True Question 8 2 out of 2 points EKA manufacturing company produces Part # 2206 for the aerospace industry. Each unit of part # 2206 is...

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...1 .2 out of 2 points Correct The following inequality represents a resource constraint for a maximization problem: X + Y ≥ 20 Answer Selected Answer: False Correct Answer: False . Question 2 .2 out of 2 points Correct Graphical solutions to linear programming problems have an infinite number of possible objective function lines. Answer Selected Answer: True Correct Answer: True . Question 3 .2 out of 2 points Correct Surplus variables are only associated with minimization problems. Answer Selected Answer: False Correct Answer: False . Question 4 .2 out of 2 points Correct In a linear programming problem, all model parameters are assumed to be known with certainty. Answer Selected Answer: True Correct Answer: True . Question 5 .2 out of 2 points Correct A linear programming problem may have more than one set of solutions. Answer Selected Answer: True Correct Answer: True . Question 6 .2 out of 2 points Correct A linear programming model consists of only decision variables and constraints. Answer Selected Answer: False Correct Answer: False . Question 7 .2 out of 2 points Correct In minimization LP problems the feasible region is always below the resource constraints. Answer Selected Answer: False Correct Answer: False . Question 8 .2 out of 2......

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...Strayer MAT 540 Week 6, Quiz 4 Page 1 of 3 Final Exam Guide less stress, more success Home EXAM Sign In Register Contact Us Quick Search EXAMS >> MAT 540 Week 6, Quiz 4 MAT 540 Week 6, Quiz 4 GO! Related Items MAT 540 Week 1, Quiz 1 MAT 540 Week 3, Quiz 2 MAT 540 Week 5, Quiz 3 MAT 540 Week 9, Quiz 5 $15.00 Be the first to write a review Advanced Search SUBJECTS Qty* ACC BCOM BIS BUS ECO ETH 316 FIN HRM LAW LDR MAT MGT MKT OPS 571 QNT QRB 501 RES SCI STR 581 DeVry * Marked fields are required. $15.00 1 PURCHASE Price $15.00 $15.00 $15.00 SET 1 1. The standard form for the computer solution of a linear programming problem requires all variables to the right and all numerical values to the left of the inequality or equality sign 2. _________ is maximized in the objective function by subtracting cost from revenue. 3. A croissant shop produces 2 products: bear claws (B) and almond filled croissants (C). Each bear claw requires 6 ounces of flour, 1 ounce of yeast, and 2 TS of almond paste. An almond filled croissant requires 3 ounces of flour, 1 ounce of yeast, and 4 TS of almond paste. The company has 6600 ounces of flour, 1400 ounces of yeast, and 4800 TS of almond paste available for today's production run. Bear claw profits are 20 cents each, and almond filled croissant profits are 30 cents each. What is the optimal daily profit? 4. In an unbalanced transportation model, supply does not equal demand and supply...

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...Submission: Quiz 2 Review Test Submission: Quiz 2 User Course Test Started Submitted Status Quantitative Methods Quiz 2 Completed Attempt Score 30 out of 40 points Question 1 If two events are not mutually exclusive, then P(A or B) = P(A) + P(B) Selected Answer: Correct Answer: False False 2 out of 2 points Question 2 Probability trees are used only to compute conditional probabilities. Selected Answer: Correct Answer: False False 2 out of 2 points Question 3 2 out of 2 points Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed. Selected Answer: Correct Answer: False False Question 4 2 out of 2 points Using the minimax regret criterion, we first construct a table of regrets. Subsequently, for each possible decision, we look across the states of nature and make a note of the maximum regret possible for that decision. We then pick the decision with the largest maximum regret. Selected Answer: Correct Answer: False False Question 5 The Hurwicz criterion is a compromise between the maximax and maximin criteria. Selected Answer: Correct Answer: True True 2 out of 2 points Question 6 The maximin approach involves choosing the alternative with the highest or lowest payoff. Selected Answer: Correct Answer: False False 2 out of 2 points Question 7 The minimin criterion is optimistic. Selected Answer: Correct Answer: True True 2 out of 2......

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...Question 1 2 out of 2 points Correct If we are solving a 0-1 integer programming problem with three decision variables, the constraint x1 + x2 + x3 ≤ 3 is a mutually exclusive constraint. Answer Selected Answer: False Correct Answer: False Question 2 2 out of 2 points Correct In a mixed integer model, some solution values for decision variables are integer and others are only 0 or 1. Answer Selected Answer: False Correct Answer: False Question 3 2 out of 2 points Correct If exactly 3 projects are to be selected from a set of 5 projects, this would be written as 3 separate constraints in an integer program. Answer Selected Answer: False Correct Answer: False Question 4 2 out of 2 points Correct The solution to the LP relaxation of a maximization integer linear program provides an upper bound for the value of the objective function. Answer Selected Answer: True Correct Answer: True Question 5 0 out of 2 points Incorrect Rounding non-integer solution values up to the nearest integer value will result in an infeasible solution to an integer linear programming problem. Answer Selected Answer: True Correct Answer: False Question 6 2 out of 2 points Correct 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,......

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...* Question 1 2 out of 2 points | | | If variable costs increase, but price and fixed costs are held constant, the break even point will decrease. Answer | | | | | Selected Answer: | False | | | | | * Question 2 2 out of 2 points | | | Parameters are known, constant values that are usually coefficients of variables in equations.Answer | | | | | Selected Answer: | True | | | | | * Question 3 2 out of 2 points | | | Probabilistic techniques assume that no uncertainty exists in model parameters. Answer | | | | | Selected Answer: | False | | | | | * Question 4 2 out of 2 points | | | In general, an increase in price increases the break even point if all costs are held constant. Answer | | | | | Selected Answer: | False | | | | | * Question 5 2 out of 2 points | | | The events in an experiment are mutually exclusive if only one can occur at a time.Answer | | | | | Selected Answer: | True | | | | | * Question 6 2 out of 2 points | | | P(A | B) is the probability of event A, if we already know that event B has occurred. Answer | | | | | Selected Answer: | True | | | | | * Question 7 2 out of 2 points | | | If events A and B are independent, then P(A|B) = P(B|A).Answer | | | | | Selected Answer: | False | | | | | * Question 8 2 out of 2 points | | | If fixed costs increase, but variable......

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...increase, but price and fixed costs are held constant, the break even point will decrease. Answer Selected Answer: False Correct Answer: False • Question 2 2 out of 2 points Parameters are known, constant values that are usually coefficients of variables in equations. Answer Selected Answer: True Correct Answer: True • Question 3 0 out of 2 points Probabilistic techniques assume that no uncertainty exists in model parameters. Answer Selected Answer: True Correct Answer: False • Question 4 2 out of 2 points Fixed cost is the difference between total cost and total variable cost. Answer Selected Answer: True Correct Answer: True • Question 5 2 out of 2 points A continuous random variable may assume only integer values within a given interval. Answer Selected Answer: False Correct Answer: False • Question 6 2 out of 2 points The events in an experiment are mutually exclusive if only one can occur at a time. Answer Selected Answer: True Correct Answer: True • Question 7 2 out of 2 points If events A and B are independent, then P(A|B) = P(B|A). Answer Selected Answer: False Correct Answer: False • Question 8 2 out of 2 points EKA manufacturing company produces Part # 2206 for the aerospace industry. Each unit of part # 2206 is sold for $15. The unit production cost of part......

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...MAT 540 Week 2 Quiz 1 Chapter 1 and 11 Solution Follow www.hwmojo.com link below to purchase Solution http://www.hwmojo.com/products/mat540-quiz-1 We have all homework problems, assignments, quizzes, midterm exam, final exam and discussions for MAT 540. Email us support@hwmojo.com Mat 540 Quiz 1 Week 2 Chapter 1 and 11 Solution Introduction to Management Science, 11e (Taylor) Chapter 1 Management Science 1) Management science involves the philosophy of approaching a problem in a subjective manner. Answer: Diff: 1 Page Ref: 2 Section Heading: The Management Science Approach to Problem Solving Keywords: scientific approach AACSB: Analytic skills 2) Management science techniques can be applied only to business and military organizations. Answer: Diff: 1 Page Ref: 2 Section Heading: The Management Science Approach to Problem Solving Keywords: scientific approach, problem solving AACSB: Analytic skills 3) Management scientists use the terms "data" and "information" interchangeably--that is, the two terms mean the same thing Answer: Diff: 2 Page Ref: 4 Section Heading: The Management Science Approach to Problem Solving Keywords: data AACSB: Analytic skills 4) A management science solution can be either a recommended decision or information that helps a manager make a decision Answer: Diff: 2 Page Ref: 5 Section Heading: The Management Science Approach to Problem Solving Keywords: model,......

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... 2 out of 2 points Correct In a linear programming problem, all model parameters are assumed to be known with certainty. Answer Selected Answer: True Correct Answer: True Question 2 2 out of 2 points Correct If the objective function is parallel to a constraint, the constraint is infeasible. Answer Selected Answer: False Correct Answer: False Question 3 2 out of 2 points Correct A linear programming problem may have more than one set of solutions. Answer Selected Answer: True Correct Answer: True Question 4 2 out of 2 points Correct Graphical solutions to linear programming problems have an infinite number of possible objective function lines. Answer Selected Answer: True Correct Answer: True Question 5 2 out of 2 points Correct The following inequality represents a resource constraint for a maximization problem: X + Y ≥ 20 Answer Selected Answer: False Correct Answer: False Question 6 2 out of 2 points Correct If the objective function is parallel to a constraint, the constraint is infeasible. Answer Selected Answer: False Correct Answer: False Question 7 2 out......

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...Selected Answer: True Correct Answer: True Question 2 2 out of 2 points Correct 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 can not be selected. Answer Selected Answer: False Correct Answer: False Question 3 2 out of 2 points Correct In a mixed integer model, some solution values for decision variables are integer and others are only 0 or 1. Answer Selected Answer: False Correct Answer: False Question 4 2 out of 2 points Correct In a problem involving capital budgeting applications, the 0-1 variables designate the acceptance or rejection of the different projects. Answer Selected Answer: True Correct Answer: True Question 5 2 out of 2 points Correct If we are solving a 0-1 integer programming problem, the constraint x1 ≤ x2 is a conditional constraint. Answer Selected Answer: True Correct Answer: True Question 6 2 out of 2 points Correct A conditional constraint specifies the conditions under which variables are integers or real variables. Answer Selected Answer: False Correct Answer: False Question 7 2 out of 2 points Correct In a 0-1 integer programming model, if the constraint x1-x2 = 0, it means when project 1 is selected, project 2 __________ be selected. Answer Selected Answer: ......

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