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Study Resources (Business Management)

    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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    49. Best Ink Printing Co. received an order to print a minimum of 50,000 tickets for a concert.  They have three printing machines available to meet the order they received. The set-up cost of these machines and the unit cost/ticket printed using each machine along with their maximum production are provided in.
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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 LocationEconomyMid-sizeLuxury 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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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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    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.
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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. 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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    61. The following table is used to lookup information on a specific product. I chose to show the dependents of cell B2. How can I remove the arrows that are indicating the dependents? ?     62. Using only "VLOOKUP", transfer all of the data from the table below into the "Individual Sales" table. ?  Individual.
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    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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    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: FactoryMaximum Capacity 16500 28500 ? Shipping Details.
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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. ? ? OperationManufacturing Time (Hours)Time Available Economy tiresPremium tiresHours Material Preparation4/31/2600 Tire Building4/51650 Curing1/22/4580 Final Inspection1/51/3120 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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    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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    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 TypeProductionPackagingShippingProfit/Tire SUV tires21.51$22 Hatchbacks.
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1. The term _____________ refers to the expression that defines the quantity to be maximized or minimized in a linear programming model. a. objective functionb. problem formulation c. decision variabled. association rule     2. Constraints are a. quantities to be maximized in a linear programming model. b. quantities to be minimized in a linear programming model. c. restrictions that limit the settings of the decision variables. d. input.
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    41. A manufacturer makes two types of rubber, Butadiene and Polyisoprene. The plant has two machines, Machine-1 and Machine-2, which are used to make the rubber strips.Manufacturing one strip of Butadiene requires 2.75 hours on Machine-1 and 3 hours on Machine-2. Processing one strip of Polyisoprene, takes 3.5 hours on Machine-1.
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    51. A soft drink manufacturing company has 3 factories—one in Orlando, one in Tampa, and one in Port St. Lucie—which supply soft drink bottles to 3 warehouses located in the city of Miami. The associated per-unit transportation cost table is provided below. Transportation Costs ($) Factories/Warehouse (W)W1W2W3 Orlando437 Tampa764 Port St. Lucie366 The factory in Orlando has.
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    50. Light-Twilight Inc. currently has four factories where light bulbs are manufactured, but budget cuts are forcing the company to limit production to only two of the factories. Once produced, the light bulbs are shipped to five distribution centers. The cost, demand, and maximum volume details are given as below. Shipping cost/1000.
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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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    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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    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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    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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    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 AreaAnnual Rate of Return on Capital.
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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: $750Utilities:.
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    52. Sansuit Investments is deciding on future investment for the coming two years and is considering four bonds. The investment details for the next two years are given in the table below. Investment Requirements ($) Year 1Year 2 Bond A25,00030,000 Bond B15,00021,000 Bond C80009500 Bond D10,0007000 ? ? The net worth of these four bonds at maturity is $60,000, $40,000,.
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    46. Delisshious Toasty Chocolates Company primarily produces two types of chocolate bars, Almond Tasty and Cashew Crunchy. The personnel costs incurred per day to produce the two types of chocolate bars are $100 and $120, respectively. The production cost per chocolate bar is $2 for Almond Tasty and $2.5 for Cashew.
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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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    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 TypeABCD 12.41.22.73.2 22.12.43.23.3 31.60.92.65.1 42.52.53.26.5 ? The maximum time.
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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:.
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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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    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: FactoryMaximum Capacity 16500 28500 ? Shipping Details.
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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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    48. A shipping freighter has space for two more shipping containers, but the combined weight cannot go over 20 tons. Four shipping containers are being considered. The following table provides details on the weight (in tons) and value of the contents of each container. Container1234 Weight of container (tons)5697 Value / Container$6000$5500$7500$6000 ? Develop a binary.
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    51. Sansuit Investments is deciding on future investments for the coming two years and is considering four bonds. The investment details for the next two years are given in the table below. Investment Requirements ($) Year 1Year 2 Bond A25,00030,000 Bond B15,00021,000 Bond C80009500 Bond D10,0007000 ? The net worth of these four bonds at maturity is $60,000, $40,000,.
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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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    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 TypeProductionPackagingShippingProfit/Tire SUV tires21.51$22 Hatchback tires1.510.5$12 ? Assuming that.
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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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    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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    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:.
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