MAT 540 Week 11 Final Exam
Question 1 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 False Answer: Correct Answer:
Question 2 5 out of 5 points In a total integer model, all decision variables have integer solution values. Answer Selected True Answer: Correct Answer:
Question 3 5 out of 5 points In a transshipment problem, items may be transported from destination to destination and from source to source. Answer Selected True Answer: Correct Answer:
Question 4
5 out of 5 points Validation of a simulation model occurs when the true steady state average results have been reached. Answer Selected True Answer: Correct Answer:
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. Answer Selected True Answer: Correct Answer:
Question 6 5 out of 5 points Fractional relationships between variables are not permitted in the standard form of a linear program. Answer Selected True Answer: Correct Answer:
Question 7 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:
Correct Answer: Breakeven point decreases
Question 8 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.
Question 9 0 out of 5 points Using the maximin criterion to make a decision, you Answer Selected Answer:
Correct Answer:
Look at the worst payoff for each possible decision and select the decision with the largest worst payoff
Question 10 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
Question 11 5 out of 5 points An equation or inequality that expresses a resource restriction in a mathematical model is called _____________________. Answer Selected Answer:
a constraint.
Correct Answer: a constraint.
Question 12 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. What is the constraint on money to invest? Answer Selected Answer:
Correct Answer: 100B + 50M
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. What is the storage space constraint? Answer Selected Answer:
Correct Answer: 100B + 80M
Question 14 5 out of 5 points