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Study Resources (Business Management)

  11. The ___________ approach to solving integer linear optimization problems breaks the feasible region of the LP Relaxation into subregions until the subregions have integer solutions or it is determined that the solution cannot be in the subregion.  a. cutting plane  b. trial-and-error  c. breaking region  d. branch-and-bound 12. Which of the following approaches to solving integer linear optimization problems tries.
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  55. Starsystems is a small information systems company that employs 50 workers. The employee details for a particular month are given below. Name Age  (in years) Gender Work experience (in years) Income (in 1000 $) Number of leaves taken in a month John 47 M 22 53 0 Olivia 26 F 3 22 3 Gabriel 38 M 16 29 1 Logan 37 M 12 32 4 James 44 M 22 32 0 Ava 55 F 30 45 5 Isabella 44 F 23 50 0 Sophia 30 F 5 22 4 Joshua 63 M 35 56 2 Abigail 34 F 8 23 3 Anthony 52 M 26 29 2 Matthew 55 M 25 34 0 Jayden 52 M 28 45 1 Emily 63 F 29 23 1 Alexis 51 F 30 32 0 Angel 41 M 18 21 4 Ryan 37 M 14 43 0 Michael 46 M 23 23 3 Grace 30 F 6 18 0 Julia 48 F 25 34 5 Ella 50 F 22 21 0 Noah 56 M 31 24 1 Madison 35 F 9 23 1 Tyler 39 M 13 29 2 Jose 48 M 22 34 2 Samantha 51 F 21 39 3 Lily 27 F 3 26 1 Elizabeth 57 F 32 49 0 Anna 33 F 12 39 4 Luis 58 M 33 32 3 Jackson 46 M 21 45 1 Aiden 32 M 6 23 4 Madison 56 F 28 45 0 Lillian 35 F 12 28 0 Natalie 47 F 23 38 1 Christopher 50 M 23 32 3 Taylor 57 F 25 32 1 Wyatt 38 M 15 25 2 Chloe 52 F 24 22 3 Jack 56 M 31 19 3 Sarah 47 F 24 34 2 Mason 54 M 31 45 1 Mason 25 M 2 21 4 Alanis 40 F 16 34 5 Brooklyn 61 F 30 49 0 Jessica 29 F 6 34 4 Chase 52 M 25 39 0 Aiden 56 M 31 54 1 David 61 M 33 43 0 Andrew 26 M 4 23 2   ? a.The administrative manager of the company wants to know the total number of employees who were on.
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  59. Anna operates a consignment shop where she sells cloths for women and children. The average consignments sold per month is 1000. The average material cost and the selling price of each consignment is $8 and $20, respectively. The monthly fixed cost to run this business is given below: Rental cost: $750Utilities: $150Advertising:.
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  63. Using only "SUMIF", complete the "Team Sales". ?  Individual Sales  Rank Name Sales Team  6  Susan  5  red  8  Thomas  7  red  9  Lynn  2  blue  5  Sean  6  blue  1  Jerry  20  yellow  2  George  12  red  10  Elaine  1  red  7  Delores  4  blue  4  Tony  9  yellow  3  Art  12  blue ?  Individual Sales  Rank Name Sales Team  1        2        3        4        5        6        7        8        9        10             .
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  65. The following table is used to lookup information on a specific product.  The Product ID is entered into the box and the information is returned in the green box. What would the lookup formula need to be in C8 to return the information for the Product named in B2. ? ?         .
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  43. Clever Sporting Equipment, Inc. makes two types of balls: Soccer balls and Cork balls. The making of each soccer ball and cork ball requires 3 hours and 4 hours of production time, respectively. A total of 500 production hours are available during the next month At least 150 balls, combined,.
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  37. Gatson manufacturing company produces 2 types of tires: Economy tire; Premium tire. The manufacturing time and the profit contribution per tire are given in the following table. ? ? ? Operation Manufacturing Time (Hours) Time Available Economy tires Premium tires Hours Material Preparation 4/3 1/2 600 Tire Building 4/5 1 650 Curing 1/2 2/4 580 Final Inspection 1/5 1/3 120 Profit/Tire $12 $10     Answer the following assuming that the company is interested in maximizing the total profit contribution. a. What.
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  40. A beverage can manufacturer makes 3 sizes of soft drink cans–Small, Medium and Large. Production is limited by machine availability, with a combined maximum of 90 production hours per day, and the daily supply of metal, no more than 120 kg per day.The following table provides the details of the.
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  62. Using only "VLOOKUP", transfer all of the data from the table below into the "Individual Sales" table. ? ?  Individual Sales  Rank Name Sales Team  6  Susan  5  red  8  Thomas  7  red  9  Lynn  2  blue  5  Sean  6  blue  1  Jerry  20  yellow  2  George  12  red  10  Elaine  1  red  7  Delores  4  blue  4  Tony  9  yellow  3  Art  12  blue ?  Individual Sales  Rank Name Sales Team  1        2        3        4        5        6        7        8        9        10           .
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  38. Hire-a-Car System rents three types of cars at two different locations. The profit contribution made per day for each car type at each location is listed below.   Car Type Location Economy Mid-size Luxury A $25 $40 $10 B $30 $35 $45 ? The management forecasts the demand per day by car type as follows: 125 rentals for Economy cars, 55 rentals for Mid-size cars, and.
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  31. The results of _____________ can be used in an integer programming model of a product design and market share optimization problem.  a. conjoint analysis  b. product design  c. part-worth  d. variations analysis 32. An apparel designing company is planning to enter the women’s trousers market. They are in the process of developing a product that will appeal most to customers..
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  21. In a production application involving a fixed setup cost and a variable cost, the use of ___________ makes including the setup cost possible in a production model.  a. location variables  b. noninteger constraints  c. objective function coefficients  d. binary variables 22. A binary mixed-integer programming problem in which the binary variables represent whether an activity, such as a production run,.
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1. The term _____________ refers to the expression that defines the quantity to be maximized or minimized in a linear programming model.  a. objective functionb. problem formulation  c. decision variabled. association rule 2. Constraints are  a. quantities to be maximized in a linear programming model.  b. quantities to be minimized in a linear programming model.  c. restrictions that limit the settings of the decision variables.  d. input.
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1. The imposition of an integer restriction is necessary for models where  a. nonnegativity constraints are needed.  b. variables can take negative values.  c. the decision variables cannot take fractional values.  d. possible values of variables are restricted to particular intervals. 2. The objective function for a linear optimization problem is: Max 3x + 5y, with constraints x ≥ 0, y.
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  44. The Pat-A-Cake Pastry Shop makes chocolate cake in three sizes – Small, Medium, and Large. The shop has the following amounts of the three main ingredients on hand – 400 ounces of cake flour, 550 ounces of caster sugar, and 150 ounces of cocoa powder. The table below provides details.
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44. FinFone Paper Mill is a small-scale paper-making company which produces four different types of paper. Each type of paper must go through processing on four different machines. The manufacturing time (in minutes) per unit of paper produced is listed in the following table.   Time required (in minutes)   Paper Type Machine Type A B C D    1 2.4 1.2 2.7 3.2    2 2.1 2.4 3.2 3.3   .
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  51. A soft drink manufacturing company has 3 factories—one in Orlando, one in Tampa, and one in Port St. Lucie—which supply soft drink bottles to 3 warehouses located in the city of Miami. The associated per-unit transportation cost table is provided below.                                            Transportation Costs ($) Factories/Warehouse (W) W1 W2 W3 Orlando 4 3 7 Tampa 7 6 4 Port St. Lucie 3 6 6 The factory in Orlando.
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41. A manufacturer makes two types of rubber, Butadiene and Polyisoprene. The plant has two machines, Machine-1 and Machine-2, which are used to make the rubber strips.Manufacturing one strip of Butadiene requires 2.75 hours on Machine-1 and 3 hours on Machine-2. Processing one strip of Polyisoprene, takes 3.5 hours on Machine-1.
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45. The following questions refer to an advertisement budgeting problem involving printing of five magazines represented by binary variables M1, M2, M3, M4, and M5. a. Write a constraint modeling a situation in which two of the magazines M1, M4, and M5 must be printed.b. Write a constraint modeling a situation in.
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  56. Starsystems is a small information systems company which employs 50 workers. The employee details are given below. Name Age (in years) Gender Work experience (in years) Income (in 1000 $) Number of leaves taken in a month John 47 M 22 53 0 Olivia 26 F 3 22 3 Gabriel 38 M 16 29 1 Logan 37 M 12 32 4 James 44 M 22 32 0 Ava 55 F 30 45 5 Isabella 44 F 23 50 0 Sophia 30 F 5 22 4 Joshua 63 M 35 56 2 Abigail 34 F 8 23 3 Anthony 52 M 26 29 2 Matthew 55 M 25 34 0 Jayden 52 M 28 45 1 Emily 63 F 29 23 1 Alexis 51 F 30 32 0 Angel 41 M 18 21 4 Ryan 37 M 14 43 0 Michael 46 M 23 23 3 Grace 30 F 6 18 0 Julia 48 F 25 34 5 Ella 50 F 22 21 0 Noah 56 M 31 24 1 Madison 35 F 9 23 1 Tyler 39 M 13 29 2 Jose 48 M 22 34 2 Samantha 51 F 21 39 3 Lily 27 F 3 26 1 Elizabeth 57 F 32 49 0 Anna 33 F 12 39 4 Luis 58 M 33 32 3 Jackson 46 M 21 45 1 Aiden 32 M 6 23 4 Madison 56 F 28 45 0 Lillian 35 F 12 28 0 Natalie 47 F 23 38 1 Christopher 50 M 23 32 3 Taylor 57 F 25 32 1 Wyatt 38 M 15 25 2 Chloe 52 F 24 22 3 Jack 56 M 31 19 3 Sarah 47 F 24 34 2 Mason 54 M 31 45 1 Mason 25 M 2 21 4 Alanis 40 F 16 34 5 Brooklyn 61 F 30 49 0 Jessica 29 F 6 34 4 Chase 52 M 25 39 0 Aiden 56 M 31 54 1 David 61 M 33 43 0 Andrew 26 M 4 23 2   a.Find the total number of male and female employees who are working in this company. Display your use of the.
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  57. Anna operates a consignment shop where she sells clothes for women and children. The average consignments sold per month is 1000. The average material cost and the selling price of each consignment is $8 and $20, respectively. The monthly fixed cost to run this business is given below: Rental cost: $750Utilities: $150Advertising:.
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57. Zen Inc. manufactures two types of products, the G.1 and the T.1 models. The manufacturing process consists of two principal departments: production and assembly. The production department has 58 skilled workers, each of whom works 7 hours per day. The assembly department has 25 workers, who also work a 7-hour.
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  58. Zen Inc. manufactures two types of products, the G.1 and the T.1 models. The manufacturing process consists of two principal departments: production and assembly. The production department has 58 skilled workers, each of whom works 7 hours per day. The assembly department has 25 workers, who also work a 7-hour.
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  21. A variable subtracted from the left-hand side of a greater-than-or-equal to constraint to convert the constraint into an equality is known as a(n)  a. surplus variable.b. slack variable.  c. unbounded variable.d. binding constraint. 22. A scenario in which the optimal objective function contour line coincides with one of the binding constraint lines on the boundary of the feasible.
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  50. A soft drink manufacturing company has 3 factories—one in Orlando, one in Tampa, and one in Port St. Lucie—which supply soft drink bottles to 3 warehouses located in the city of Miami. The associated per-unit transportation cost between the factories and the warehouses is provided in the table below. ?   Transportation Costs.
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  43. A coffee manufacturing company has two processing plants (P1 and P2) that roast imported coffee beans.  After roasting, the plants produce three types of coffee beans, A, B, and C. The company has contracted with a chain of cafes to provide coffee beans each week in the following quantities –.
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41. Robin Tires, Inc. makes two types of tires, one for SUVs and the other for Hatchbacks. The firm has the following limits – 500 hours for production, 250 hours for packaging, and 150 hours for shipping. The times required per tire type is given in the following table.    Production Hours     Type Production Packaging Shipping Profit/Tire SUV tires 2 1.5 1 $22 Hatchback tires 1.5 1 0.5 $12   ? Assuming that.
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53. Ethan Steel, Inc. has two factories that manufacture steel components for four different rail projects. The demand for the steel components for the four projects, Project A, Project B, Project C, and Project D, are 3220, 3675, 4125, and 2975, respectively. The shipping details are as below: Production details: Factory Maximum Capacity 1 6500 2 8500 ? Shipping Details.
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  48. Northwest California Ventures Ltd. has decided to provide capital in five market areas for the start-ups. The investment consultant for the venture capital company has projected an annual rate of return based on the market risk, the product, and the size of the market. ? Market Area Annual Rate of Return on Capital.
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  54. John would like to establish a retirement plan that returns an amount of $100,000 in 20 years. Build a spreadsheet model to calculate the amount John must contribute at the end of each year towards his retirement fund, assuming an annual interest rate of 6%.   Use the Excel function =PMT(rate, nper, pv,.
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  42. Robin Tires, Inc. makes two types of tires, one for SUVs and the other for Hatchbacks. The firm has the following limits – 500 hours for production, 250 hours for packaging, and 150 hours for shipping. The times required per tire type is given in the following table    Production Hours     Type Production Packaging Shipping Profit/Tire SUV tires 2 1.5 1 $22 Hatchbacks.
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  64. The following table is used to lookup information on a specific product.  The Product ID is entered into the box and the information is returned in the green box. What would the lookup formula need to be in C5 to return the information for the Product named in B2.  ? ?   .
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  11. In a linear programming model, the __________ assumption plus the nonnegativity constraints mean that decision variables can take on any value greater than or equal to zero.  a. proportionalityb. divisibility  c. additivityd. negativity 12. A(n) ___________ solution satisfies all the constraint expressions simultaneously.  a. feasibleb. objective  c. infeasibled. extreme 13. A(n) _____________ refers to a set of points that yield a fixed value of the objective.
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  49. Jackson just obtained $240,000 by selling mutual funds and is now looking for other investment opportunities for these funds. His financial consultant recommends that all new investments be made in the stocks of industries such as Agriculture, Healthcare, Banking, Manufacturing, and Real Estate. The projected annual rates of returns for.
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  31. The reduced cost for a decision variable that appears in a Sensitivity Report refers to the ____________ of the nonnegativity constraint for that variable.  a. range of optimality  b. slack value  c. shadow price  d. range of feasibility 32. The reduced cost for a decision variable that appears in a Sensitivity Report indicates the change in the optimal objective function.
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  52. Ethan Steel, Inc. has two factories that manufacture steel components for four different rail projects. The demand for the steel components for the four projects, Project A, Project B, Project C, and Project D, are 3220, 3675, 4125, and 2975, respectively. The shipping details are as below. Production Details: Factory Maximum Capacity 1 6500 2 8500 ? Shipping Details.
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  42. A manufacturer makes two types of rubber, Butadiene and Polyisoprene. The plant has two machines, Machine-1 and Machine-2, which are used to make the rubber strips.  Manufacturing one strip of Butadiene requires 2.75 hours on Machine-1 and 3 hours on Machine-2. Processing one strip of Polyisoprene, takes 3.5 hours on.
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  58. Anna operates a consignment shop where she sells cloths for women and children. The average consignments sold per month is 1000. The average material cost and the selling price of each consignment is $8 and $20, respectively. The monthly fixed cost to run this business is given below: Rental cost: $750Utilities: $150Advertising:.
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  56. Zen Inc. manufactures two types of products, the G.1 and the T.1 models. The manufacturing process consists of two principal departments: production and assembly. The production department has 58 skilled workers, each of whom works 7 hours per day. The assembly department has 25 workers, who also work a 7-hour.
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