MAT 540 FINAL EXAM

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Question 1

5 out of 5 points

Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality. Answer Selected Answer:

False

Correct Answer: False

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Question 2

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:

False

Correct Answer: False

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Question 3

5 out of 5 points

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

True

Correct Answer: Tru e

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Question 4

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

5 out of 5 points

Selected Answer:

True

Correct Answer: e

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Tru

Question 5

5 out of 5 points

If we are solving a 0­1 integer programming problem, the constraint x1 = x2 is a conditional constraint. Answer Selected Answer:

False

Correct Answer: False

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Question 6

5 out of 5 points

In an unbalanced transportation model, supply does not equal demand and one set of constraints uses ≤ signs. Answer Selected Answer:

True

Correct Answer: Tru e

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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:

Lease Correct Answer:

Lease

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Question 8

0 out of 5 points

In linear programming problems, multiple optimal solutions occur Answer Selected Answer:

Correct Answer:

when the objective function is parallel to a constraint line

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Question 9

5 out of 5 points

Using the minimax regret criterion to make a decision, you Answer

Selected Answer:

Correct Answer:

Construct a table of regrets. decision.

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Question 10

Using the maximin criterion to make a decision, you Answer

5 out of 5 points

Selected Answer:

Correct Answer:

Look at the worst payoff for each possible decision and select the decision with the largest worst payoff

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Question 11

0 out of 5 points

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

Correct Answer:

the binomial distribution

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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? Answer Selected Answer:

Correct Answer:

100B + 80M

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Question 13

0 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? Answer

Selected Answer:

B = 150, M = 75 Correct Answer:

B = 0, M = 225

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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? Answer

Selected Answer:

$800 Correct Answer:

$800

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Question 15

5 out of 5 points