Search
Info
Warning
Danger

Study Resources (Business Management)

46. After some special presentations, the employees of the AV Center have to move projectors back to classrooms. The table below indicates the buildings where the projectors are now (the sources), where they need to go (the destinations), and a measure of the distance between sites. Destination Source Business Education Parsons Hall Holmstedt Hall Supply Baker Hall 10 9 5 2 35 Tirey Hall 12 11 1 6 10 Arena 15 14 7 6 20 Demand 12 20 10 10 ? a..
3 Views
View Answer
1. Media selection problems can maximize exposure quality and use number of customers reached as a constraint, or maximize the number of customers reached and use exposure quality as a constraint. a. True b. False 2. Revenue management methodology was originally developed for the banking industry. a. True b. False 3. Portfolio selection problems should acknowledge.
5 Views
View Answer
11. The dual price associated with a constraint is the change in the value of the solution per unit decrease in the right-hand side of the constraint. a. True b. False 12. For a minimization problem, a positive dual price indicates the value of the objective function will increase. a. True b. False 13. There is.
3 Views
View Answer
41. Larkin Industries manufactures several lines of decorative and functional metal items. The most recent order has been for 1200 door lock units for an apartment complex developer. The sales and production departments must work together to determine delivery schedules. Each lock unit consists of three components: the knob and.
3 Views
View Answer
44. Canning Transport is to move goods from three factories to three distribution centers. Information about the move is given below. Give the network model and the linear programming model for this problem. Source Supply Destination Demand A 200 X 50 B 100 Y 125 C 150 Z 125 ? Shipping costs are: ? Destination Source X Y Z A 3 2 5 B 9 10 -- C 5 6 4 ? (Source B cannot ship to destination Z) ? 45. The following table shows the unit shipping cost between.
3 Views
View Answer
34. Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Company X. Identify the pure strategy solution. What is the value of the game? Company Y Strategies Company X Strategies y1 y2 y3 x1 3 5 9 x2 8 4 3 x3 7 6 7 35. Consider the following two-person, zero-sum game. Payoffs are the winnings for Company X. Formulate the linear program.
3 Views
View Answer
21. In a capacitated transshipment problem, some or all of the transfer points are subject to capacity restrictions. a. True b. False 22. The problem which deals with the distribution of goods from several sources to several destinations is the a. maximal flow problem b. transportation problem c. assignment problem d. shortest-route problem 23. The parts of a.
3 Views
View Answer
59. Consider the following linear program: MAX 3x1 + 4x2 ($ Profit) s.t. x1 + 3x2 ≤ 12 2x1 + x 2 ≤ 8 x1 ≤ 3 x1, x2 ≥ 0 The Management Scientist provided the following solution output: OPTIMAL SOLUTION Objective Function Value = 20.000 Variable Value Reduced Cost X1 2.400 0.000 X2 3.200 0.000 Constraint Slack/Surplus Dual Price 1 0.000 1.000 2 0.000 1.000 3 0.600 0.000 OBJECTIVE COEFFICIENT RANGES Variable Lower Limit Current Value Upper Limit X1 1.333 3.000 8.000 X2 1.500 4.000 9.000 RIGHT HAND SIDE RANGES Constraint Lower Limit Current Value Upper.
3 Views
View Answer
45. Excel's Solver tool has been used in the spreadsheet below to solve a linear programming problem with a minimization objective function and all ≥ constraints. Input Section Objective Function Coefficients X Y 5 4 Constraints Req'd #1 4 3 60 #2 2 5 50 #3 9 8 144 Output Section Variables 9.6 7.2 Profit 48 28.8 76.8 Constraint Usage Slack #1 60 1.35E-11 #2 55.2 -5.2 #3 144 -2.62E-11 a. Give the original linear programming problem. b. Give the complete optimal solution. 46. Use the spreadsheet and Solver sensitivity report to answer.
3 Views
View Answer
36. A&C Distributors is a company that represents many outdoor products companies and schedules deliveries to discount stores, garden centers, and hardware stores. Currently, scheduling needs to be done for two lawn sprinklers, the Water Wave and Spring Shower models. Requirements for shipment to a warehouse for a national chain.
3 Views
View Answer
1. Whenever total supply is less than total demand in a transportation problem, the LP model does not determine how the unsatisfied demand is handled. a. True b. False 2. Converting a transportation problem LP from cost minimization to profit maximization requires only changing the objective function; the conversion does not affect the.
6 Views
View Answer
31. ?Blending problems arise whenever a manager must decide how to a. ?mix several different asset types in one investment strategy. b. ?mix two or more resources to produce one or more products. c. ?combine the results of two or more research studies into one. d. ?allocate workers with different skill levels to various.
3 Views
View Answer
37. Portfolio manager Max Gaines needs to develop an investment portfolio for his conservative clients. His task is to determine the proportion of the portfolio to invest in each of the five mutual funds listed below so that the portfolio provides the best return possible with a minimum risk. Formulate.
3 Views
View Answer
49. National Wing Company (NWC) is gearing up for the new B-48 contract. Currently NWC has 100 equally qualified workers. Over the next three months NWC has made the following commitments for wing production: Month Wing Production May 20 June 24 July 30 ? Each worker can either be placed in production or can train new recruits. A new.
3 Views
View Answer
1. Classical sensitivity analysis provides no information about changes resulting from a change in the coefficient of a variable in a constraint. a. True b. False 2. The reduced cost for a positive decision variable is 0. a. True b. False 3. When the right-hand sides of two constraints are each increased by one unit, the.
4 Views
View Answer
54. Comfort Plus Inc. (CPI) manufactures a standard dining chair used in restaurants. The demand forecasts for quarter 1 (January-March) and quarter 2 (April-June) are 3700 chairs and 4200 chairs, respectively. CPI has a policy of satisfying all demand in the quarter in which it occurs. ? The chair contains an upholstered.
3 Views
View Answer
11. When a route in a transportation problem is unacceptable, the corresponding variable can be removed from the LP formulation. a. True b. False 12. In the LP formulation of a maximal flow problem, a conservation-of-flow constraint ensures that an arc's flow capacity is not exceeded. a. True b. False 13. The maximal flow problem can.
3 Views
View Answer
47. Use the following Management Scientist output to answer the questions. LINEAR PROGRAMMING PROBLEM MAX 31X1+35X2+32X3 S.T. 1) 3X1+5X2+2X3>90 2) 6X1+7X2+8X3<150 3) 5X1+3X2+3X3<120 OPTIMAL SOLUTION Objective Function Value = 763.333 Variable Value Reduced Cost X1 13.333 0.000 X2 10.000 0.000 X3 0.000 10.889 Constraint Slack/Surplus Dual Price 1 0.000 −0.778 2 0.000 5.556 3 23.333 0.000 OBJECTIVE COEFFICIENT RANGES Variable Lower Limit Current Value Upper Limit X1 30.000 31.000 No Upper Limit X2 No Lower Limit 35.000 36.167 X3 No Lower Limit 32.000 42.889 RIGHT HAND SIDE RANGES Constraint Lower Limit Current Value Upper Limit 1 77.647 90.000 107.143 2 126.000 150.000 163.125 3 .
3 Views
View Answer
31. The amount the objective function coefficient of a decision variable would have to improve before that variable would have a positive value in the solution is the a. dual price. b. surplus variable. c. reduced cost. d. upper limit. 32. The dual price measures, per unit increase in the right hand side of the.
3 Views
View Answer
41. In a linear programming problem, the binding constraints for the optimal solution are 5X + 3Y ≤ 30 2X + 5Y ≤ 20 a. Fill in the blanks in the following sentence: As long as the slope of the objective function stays between _______ and _______, the current optimal solution point will remain.
3 Views
View Answer
53. Consider the network below. Formulate the LP for finding the shortest-route path from node 1 to node 7. ? 54. Consider the following shortest-route problem involving six cities with the distances given. Draw the network for this problem and formulate the LP for finding the shortest distance from City 1 to.
3 Views
View Answer
49. The following linear programming problem has been solved by The Management Scientist. Use the output to answer the questions. LINEAR PROGRAMMING PROBLEM MAX 25X1+30X2+15X3 S.T. 1) 4X1+5X2+8X3<1200 2) 9X1+15X2+3X3<1500 OPTIMAL SOLUTION Objective Function Value = 4700.000 Variable Value Reduced Cost X1 140.000 0.000 X2 0.000 10.000 X3 80.000 0.000 Constraint Slack/Surplus Dual Price 1 0.000 1.000 2 0.000 2.333 OBJECTIVE COEFFICIENT RANGES Variable Lower Limit Current Value Upper Limit X1 19.286 25.000 45.000 X2 No Lower Limit 30.000 40.000 X3 8.333 15.000 50.000 RIGHT HAND SIDE RANGES Constraint Lower Limit Current Value Upper Limit 1 666.667 1200.000 4000.000 2 450.000 1500.000 2700.000 a..
3 Views
View Answer
21. To solve a linear programming problem with thousands of variables and constraints a. a personal computer can be used. b. a mainframe computer is required. c. the problem must be partitioned into subparts. d. unique software would need to be developed. 22. A negative dual price for a constraint in a minimization problem means a..
3 Views
View Answer
21. A DEA linear programming model involving 4 input measures and 3 output measures will have a. 7 constraints. b. 8 constraints. c. 12 constraints. d. 13 constraints. 22. In general, every DEA linear programming model will include a constraint that requires the weights for the operating units to sum to a. 1. b. the number of.
3 Views
View Answer
30. The Eastern Washington County School Corporation is interested in comparing educational performance at four elementary schools and has hired you to prepare a DEA model to do so. After detailed conversations with the corporation administrative staff and the building principals, you have isolated the following input and output measurements: Input.
3 Views
View Answer
11. Using minutes as the unit of measurement on the left-hand side of a constraint and using hours on the right-hand side is acceptable since both are a measure of time. a. True b. False 12. Compared to the problems in the textbook, real-world problems generally require more variables and constraints. a. True b. False 13..
3 Views
View Answer
52. The decision variables represent the amounts of ingredients 1, 2, and 3 to put into a blend. The objective function represents profit. The first three constraints measure the usage and availability of resources A, B, and C. The fourth constraint is a minimum requirement for ingredient 3. Use the.
3 Views
View Answer
43. FarmFresh Foods manufactures a snack mix called TrailTime by blending three ingredients: a dried fruit mixture, a nut mixture, and a cereal mixture. Information about the three ingredients (per ounce) is shown below. Ingredient Cost Volume Fat Grams Calories Dried Fruit .35 1/4 cup 0 150 Nut Mix .50 3/8 cup 10 400 Cereal Mix .20 1 cup 1 50 ? The company needs to develop a linear programming model.
3 Views
View Answer
51. Peaches are to be transported from three orchard regions to two canneries. Intermediate stops at a consolidation station are possible. Orchard Supply Station Cannery Capacity Riverside 1200 Waterford Sanderson 2500 Sunny Slope 1500 Northside Millville 3000 Old Farm 2000 ? Shipment costs are shown in the table below. Where no cost is given, shipments are not possible. Where costs are shown, shipments are possible in either direction. Draw.
3 Views
View Answer
40. LeapFrog Airways provides passenger service for Indianapolis, Baltimore, Memphis, Austin, and Tampa. LeapFrog has two WB828 airplanes, one based in Indianapolis and the other in Baltimore. Each morning the Indianapolis based plane flies to Austin with a stopover in Memphis, and the Baltimore based plane flies to Tampa with.
3 Views
View Answer
57. A company produces two products made from aluminum and copper. The table below gives the unit requirements, the unit production man-hours required, the unit profit and the availability of the resources (in tons). Aluminum Copper Man-hours Unit Profit Product 1 1 0 2 50 Product 2 1 1 3 60 Available 10 6 24 The Management Scientist provided the following solution output: Objective Function Value = 540.000 VARIABLE VALUE REDUCED COST X1 6.000 0.000 X2 .
3 Views
View Answer
39. Tots Toys makes a plastic tricycle that is composed of three major components: a handlebar-front wheel-pedal assembly, a seat and frame unit, and rear wheels. The company has orders for 12,000 of these tricycles. Current schedules yield the following information. Requirements Cost to Cost to Component Plastic Time Space Manufacture Purchase Front 3 10 2 8 12 Seat/Frame 4 6 2 6 9 Rear wheel (each) .5 2 .1 1 3 Available 50000 160000 30000 The company obviously does not.
3 Views
View Answer
11. In portfolio models, risk is minimized by diversification. a. True b. False 12. Revenue management methodology can be applied in the case of nonperishable assets. a. True b. False 13. In a revenue management model, dual prices tell reservation agents the revenue loss associated with overbooking each ODIF. a. True b. False 14. In game theory, the player.
3 Views
View Answer
21. Media selection problems usually determine a. how many times to use each media source. b. the coverage provided by each media source. c. the cost of each advertising exposure. d. the relative value of each medium. 22. To study consumer characteristics, attitudes, and preferences, a company would engage in a. client satisfaction processing. b. marketing research. c..
3 Views
View Answer
51. John Sweeney is an investment advisor who is attempting to construct an "optimal portfolio" for a client who has $400,000 cash to invest. There are ten different investments, falling into four broad categories that John and his client have identified as potential candidates for this portfolio. The following table.
3 Views
View Answer
1. Revenue management methodology was originally developed for the banking industry. a. True b. False 2. The goal of portfolio models is to create a portfolio that provides the best balance between risk and return. a. True b. False 3. DEA is used to measure the relative efficiency of two (or more) units in different industries,.
6 Views
View Answer