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 = 0, otherwise) the constraint x1 – x2 ≤ 0 implies that if project 2 is selected, project 1 cannot be selected. Answer Selected Answer: Correct Answer:
Fals e Fals e
Question 2 5 out of 5 points
Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality. Answer Selected Answer: Correct Answer:
Fals e 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: Correct Answer:
Fals e 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: Correct Answer:
Fals e 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: Correct Answer:
Tru e 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: Correct Answer:
Tru e 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 +