Management Science Test 1

1. 1If the price increases, but fixed and variable costs do not change, the break-even point:

   1. ADecreases
   2. BIncreases
   3. CRemains the same
   4. DMay increase or decrease, depending on sales
2. 2Parameters are known, constant values that are usually coefficients of variables in equations.

   1. ARichtig
   2. BFalsch
3. 3If fixed costs decrease, but variable cost and price remain the same, the break-even point:

   1. AIncreases
   2. BDecreases
   3. CRemains the same
   4. Dmay increase or decrease depending on sales
4. 4Linear mathematical programming techniques assume that all parameters in the models are:

   1. AUnpredictable
   2. BPredictable
   3. CKnown with certainty
   4. DUknown
5. 5Yowzah Bids
   Yowzah receives bids from four companies we'll call A, B, C, and D to supply product for the coming year. Renee DeCartes, the Yowzah VP of Plotting takes the bids and creates this graph to bring to the next executive meeting.
   
   
   
   
   The company with the lowest variable cost is:

   

   1. AA.
   2. BB.
   3. CC.
   4. DD.
6. 6A baker uses organic flour from a local farmer in all of his baked goods. For each batch of bread (x1), he uses 4 pounds of flour. For a batch of cookies (x2), he uses 3 pounds, and for a batch of muffins (x3) he uses 2 pounds. The local farmer can supply him with no more than 24 pounds per week. The constraint that represents this condition is:

   1. Ax1 + x2 + x3 ≥ 24.
   2. Bx1 ≤ 8, x2 ≤ 8, x3 ≤ 8.
   3. C4x1 + 3x2 + 2x3 ≤ 24.
   4. Dx1 + x2 + x3 ≤ 24.
7. 7
   Administrators at a university will charge students $150 to attend a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. How many students would have to register for the seminar for the university to break even?

   1. A20
   2. B24
   3. C18
   4. D30
8. 8The field of management science:

   1. Ais another name for management or human resources management.
   2. Bconcentrates on the use of quantitative methods to assist managers in decision making.
   3. Capproaches decision making irrationally with techniques based on the scientific method.
   4. Dis completely separate and distinct from all other disciplines.
9. 9If fixed costs increase, but variable cost and price remain the same, the break-even point:

   1. Adecreases.
   2. BIncreases.
   3. CRemains the same.
   4. DMay increase or decrease depending on sales.
10. 10A technique that assumes certainty in its solution is referred to as:

    1. Aparametric.
    2. Bprobabilistic.
    3. Cdeterministic.
    4. Dstochastic.

11. 11
    ________ involves determining the functional relationship between variables, parameters, and equations.

    1. AModel solution
    2. BProblem definition
    3. CModel construction
    4. DProblem observation
12. 12If the price decreases, but fixed and variable costs do not change, the break-even point:

    1. Adecreases.
    2. Bincreases.
    3. Cremains the same.
    4. Dmay increase or decrease, depending on sales.
13. 13The steps of the management science process are:

    1. Aobservation, implementation, problem definition, model construction, model solution.
    2. Bobservation, problem definition, model construction, model solution, implementation.
    3. Cmodel construction, problem definition, observation, model solution, implementation.
    4. Dproblem definition, model construction, observation, model solution, implementation.
14. 14The term big data refers to numbers of large magnitude, i.e., greater than or equal to one billion.

    1. ARichtig
    2. BFalsch
15. 15The indicator that results in total revenues being equal to total cost is called the:

    1. Abreak-even point.
    2. Bmarginal cost.
    3. Cmarginal volume.
    4. Dprofit mix.
16. 16The production manager for the Coory soft drink company is considering the production of two kinds of soft drinks: regular (R) and diet(D). Two of the limited resources are production time (8 hours = 480 minutes per day) and syrup (1 of the ingredients), limited to 675 gallons per day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and profits for diet soft drink are $2.00 per case. What is the time constraint?

    1. A2R + 4D ≤ 480
    2. B2R + 3D ≤ 480
    3. C3R + 2D ≤ 480
    4. D2D + 4R ≤ 480
17. 17The production manager for the Coory soft drink company is considering the production of two kinds of soft drinks: regular (R) and diet (D). Two of her limited resources are production time (8 hours = 480 minutes per day) and syrup (1 of the ingredients), limited to 675 gallons per day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and profits for diet soft drink are $2.00 per case. What is the objective function?

    1. AMAX $2R + $4D
    2. BMAX $3D + $2R
    3. CMAX $4D + $2R
    4. DMAX $3R + $2D
18. 18
    An intern sets up a linear program to optimize the use of paper products in the men's washroom. The system of equations he develops is:
    
    
    
    His mentor studies the model, frowns, and admonishes the intern for violating which of the following properties of linear programming models?

    

    1. Aproportionality
    2. Badditivity
    3. Cdivisibility
    4. Dcertainty
19. 19
    Consider the following maximization problem.
    
    
    The optimal solution:

    

    1. Aoccurs where x = 0 and y = 2.
    2. Bresults in an objective function value of 12.
    3. Coccurs where x = 4.67 and y = 1.11.
    4. Doccurs where x = 6 and y = 0.
20. 20The production manager for the Coory soft drink company is considering the production of two kinds of soft drinks: regular and diet. Two of her limited resources are production time (8 hours = 480 minutes per day) and syrup (1 of the ingredients), limited to 675 gallons per day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and profits for diet soft drink are $2.00 per case. Which of the following is not a feasible production combination?

    1. A90R and 75D
    2. B75R and 90D
    3. C40R and 100D
    4. D135R and 0D
21. 21
    The following is a graph of a linear programming problem. The feasible solution space is shaded, and the optimal solution is at the point labeled Z*.
    
    Which of the following points is not feasible?

    

    1. AA.
    2. BB.
    3. CH.
    4. DG.
22. 22Which of the following could not be a linear programming problem constraint?

    1. A1A + 2B ≠ 3
    2. B1A + 2B ≥ 3
    3. C1A + 2B ≤ 3
    4. D1A + 2B = 3
23. 23
    Cully Furniture buys two products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 100 cubic feet of storage space, and each medium shelf costs $300 and requires 90 cubic feet of storage space. The company has $75,000 to invest in shelves this week, and the warehouse has 18,000 cubic feet available for storage. Profit for each big shelf is $300 and for each medium shelf is $150. In order to maximize profit, how many big shelves (B) and how many medium shelves (M) should be purchased?

    1. AB = 90, M = 75
    2. BB = 100, M = 100
    3. CB = 0, M = 200
    4. DB = 150, M = 0
24. 24Which of the following could be a linear programming objective function?

    1. AZ = 1A + 2B + 3C + 4D
    2. BZ = 1A + 2B / C + 3D
    3. CZ = 1A + 2B2 + 3D
    4. DZ = 1A + 2BC + 3D
25. 25Cully Furniture buys two products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 100 cubic feet of storage space, and each medium shelf costs $300 and requires 90 cubic feet of storage space. The company has $75,000 to invest in shelves this week, and the warehouse has 18,000 cubic feet available for storage. Profit for each big shelf is $300 and for each medium shelf is $150. What is the maximum profit?

    1. A$55,000
    2. B$65,000
    3. C$35,000
    4. D$45,000
26. 26A slack variable:

    1. Aexists for each variable in a linear programming problem.
    2. Bis the difference between the left and right side of a constraint.
    3. Cis the amount by which the left side of a ≥ constraint is larger than the right side.
    4. Dis the amount by which the left side of a ≤ constraint is smaller than the right side.
27. 27The production manager for the Coory soft drink company is considering the production of two kinds of soft drinks: regular and diet. Two of her limited resources are production time (8 hours = 480 minutes per day) and syrup (1 of the ingredients), limited to 675 gallons per day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and profits for diet soft drink are $2.00 per case. What are the optimal daily production quantities of each product and the optimal daily profit?

    1. AR = 135, D = 0, Z = $405
    2. BR = 40, D= 100, Z = $320
    3. CR = 90, D = 75, Z = $420
    4. DR = 75, D = 90, Z = $405
28. 28
    The following is a graph of a linear programming problem. The feasible solution space is shaded, and the optimal solution is at the point labeled Z*.
    
    This linear programming problem is a(n):

    

    1. Amaximization problem.
    2. Bminimization problem.
    3. Cirregular problem.
    4. Dcannot tell from the information given
29. 29In a multiperiod scheduling problem, the production constraint usually takes the form of:

    1. Abeginning inventory + demand - production = ending inventory.
    2. Bbeginning inventory - demand + production = ending inventory.
    3. Cbeginning inventory - ending inventory + demand = production.
    4. Dbeginning inventory + demand + production = ending inventory.
30. 30A systematic approach to model formulation is to first:

    1. Adefine decision variables.
    2. Bdevelop each constraint separately.
    3. Cdetermine the right hand side of each constraint.
    4. Dconstruct the objective function.
31. 31A croissant shop produces two products: bear claws (B) and almond-filled croissants (C). Each bear claw requires 6 ounces of flour, 1 ounce of yeast, and 2 TS of almond paste. An almond-filled croissant requires 3 ounces of flour, 1 ounce of yeast, and 4 TS of almond paste. The company has 6600 ounces of flour, 1400 ounces of yeast, and 4800 TS of almond paste available for today's production run. Bear claw profits are 20 cents each, and almond-filled croissant profits are 30 cents each. What is the optimal daily profit?

    1. A$400
    2. B$420
    3. C$440
    4. D$380
32. 32Atwitter
    The college director of global activities was hopeful that the print ads in the school newspaper and 30 second spots on the campus radio station would spur some interest in the array of study tour and study abroad options he had secured. The communications director for the college had other ideas; she favored a social media campaign consisting of tweets and facebook postings. "This is the most ridiculous thing I ever heard of," he whined to the dean.
    
    The communications director's market research revealed the following:
    
    The advertising budget is $3500, but there is no requirement that all the money be spent. The newspaper has only four issues before the end of the semester, but the radio is a 24/7 operation and has two dozen 30 second slots available. Facebook postings must be alternated with the rest of the mindless drivel posted on the college page; thus there is space for only three postings before the end of the semester. Twitter is complicated by the 140 character requirement. The communications director feels she needs five tweets to convey a single message about tours and semesters abroad, so for one message, the cost would be $25 for each of the five components of the single ad. Due to thumb fatigue, she feels that she has only 2800 characters left in her thumbs before the end of the semester. (A side note - During the intersession period, she plans to embark on a strict regimen of thumb yoga to prepare for the coming semester.)
    
    
    Which of these statements about the sensitivity report for the constraints is best?

    

    1. AFor every $1 increase in the budget, the ad campaign can reach twelve more customers.
    2. BIt is possible to reach enough customers by spending only $60.
    3. COnly $940 of the advertising budget is being spent on this campaign.
    4. DThe advertising campaign needs another $2,560 to reach the maximum number of customers.
33. 33Let xij = gallons of component i used in gasoline j. Assume that we have two components and two types of gasoline. There are 8000 gallons of component 1 available, and the demand gasoline types 1 and 2 are 11,000 and 14,000 gallons, respectively. Write the supply constraint for component 1.

    1. Ax21 + x22 ≤ 8000
    2. Bx11 + x12 ≤ 8000
    3. Cx21 + x22 ≥ 8000
    4. Dx12 + x22 ≥ 8000
34. 34Atwitter
    The college director of global activities was hopeful that the print ads in the school newspaper and 30 second spots on the campus radio station would spur some interest in the array of study tour and study abroad options he had secured. The communications director for the college had other ideas; she favored a social media campaign consisting of tweets and facebook postings. "This is the most ridiculous thing I ever heard of," he whined to the dean.
    
    The communications director's market research revealed the following:
    
    
    
    The advertising budget is $3500, but there is no requirement that all the money be spent. The newspaper has only four issues before the end of the semester, but the radio is a 24/7 operation and has two dozen 30 second slots available. Facebook postings must be alternated with the rest of the mindless drivel posted on the college page; thus there is space for only three postings before the end of the semester. Twitter is complicated by the 140 character requirement. The communications director feels she needs five tweets to convey a single message about tours and semesters abroad, so for one message, the cost would be $25 for each of the five components of the single ad. Due to thumb fatigue, she feels that she has only 2800 characters left in her thumbs before the end of the semester. (A side note - During the intersession period, she plans to embark on a strict regimen of thumb yoga to prepare for the coming semester.)

    

    1. AMin Z = 5,000N + 3,000R + 700T + 200F
    2. BMax Z = 500N + 250R + 125T + 15F
    3. CMin Z = 500N + 250R + 125T + 15F
    4. DMax Z = 5,000N + 3,000R + 700T + 200F
35. 35Compared to blending and product mix problems, transportation problems are unique because:

    1. Athe solution values are always integers.
    2. Bthey contain fewer variables.
    3. Cthe constraints are all equality constraints with no "≤" or "≥" constraints.
    4. Dthey maximize profit.
36. 36Balanced transportation problems have which of the following type of constraints?

    1. A≥
    2. B≤
    3. C<
    4. D=
37. 37The advertising budget is $3500, but there is no requirement that all the money be spent. The newspaper has only four issues before the end of the semester, but the radio is a 24/7 operation and has two dozen 30 second slots available. Facebook postings must be alternated with the rest of the mindless drivel posted on the college page; thus there is space for only three postings before the end of the semester. Twitter is complicated by the 140 character requirement. The communications director feels she needs five tweets to convey a single message about tours and semesters abroad, so for one message, the cost would be $25 for each of the five components of the single ad. Due to thumb fatigue, she feels that she has only 2800 characters left in her thumbs before the end of the semester. (A side note - During the intersession period, she plans to embark on a strict regimen of thumb yoga to prepare for the coming semester.)
    
    
    How should the entry for the Newspaper decision variable be interpreted?

    

    1. AIt is possible to reach an almost infinite fewer number (10 to the 30th power) of customers by newspaper than by any other method.
    2. BThe director should lower the newspaper advertising expense by $1,000 to reach the objective of 5,000 customers contacted.
    3. CIf the director were forced to purchase a newspaper advertisement, he would reach 1000 fewer customers than would be reached using the optimal advertising campaign.
    4. DIf the director increased newspaper advertisement by 1,000, he would spend $1000 less than with the current campaign.
38. 38The advertising budget is $3500, but there is no requirement that all the money be spent. The newspaper has only four issues before the end of the semester, but the radio is a 24/7 operation and has two dozen 30 second slots available. Facebook postings must be alternated with the rest of the mindless drivel posted on the college page; thus there is space for only three postings before the end of the semester. Twitter is complicated by the 140 character requirement. The communications director feels she needs five tweets to convey a single message about tours and semesters abroad, so for one message, the cost would be $25 for each of the five components of the single ad. Due to thumb fatigue, she feels that she has only 2800 characters left in her thumbs before the end of the semester. (A side note - During the intersession period, she plans to embark on a strict regimen of thumb yoga to prepare for the coming semester.)
    
    
    Which of these is an appropriate constraint for this scenario?

    

    1. AT ≤ 2,800
    2. BN + R + T + F ≥ 36
    3. C5,000N + 3,000R + 700T + 200F ≤ 3,500
    4. D500N + 250R + 125T + 15F ≤ 3,500
39. 39In a multiperiod scheduling problem, the production constraint usually takes the form of:

    1. Abeginning inventory - ending inventory + demand = production.
    2. Bbeginning inventory + demand + production = ending inventory.
    3. Cbeginning inventory - demand + production = ending inventory.
    4. Dbeginning inventory + demand - production = ending inventory.
40. 40A systematic approach to model formulation is to first:

    1. Aconstruct the objective function.
    2. Bdetermine the right hand side of each constraint.
    3. Cdevelop each constraint separately.
    4. Ddefine decision variables.
41. 41A croissant shop produces two products: bear claws (B) and almond-filled croissants (C). Each bear claw requires 6 ounces of flour, 1 ounce of yeast, and 2 TS of almond paste. An almond-filled croissant requires 3 ounces of flour, 1 ounce of yeast, and 4 TS of almond paste. The company has 6600 ounces of flour, 1400 ounces of yeast, and 4800 TS of almond paste available for today's production run. Bear claw profits are 20 cents each, and almond-filled croissant profits are 30 cents each. What is the optimal daily profit?

    1. A$400
    2. B$420
    3. C$440
    4. D$380
42. 42The advertising budget is $3500, but there is no requirement that all the money be spent. The newspaper has only four issues before the end of the semester, but the radio is a 24/7 operation and has two dozen 30 second slots available. Facebook postings must be alternated with the rest of the mindless drivel posted on the college page; thus there is space for only three postings before the end of the semester. Twitter is complicated by the 140 character requirement. The communications director feels she needs five tweets to convey a single message about tours and semesters abroad, so for one message, the cost would be $25 for each of the five components of the single ad. Due to thumb fatigue, she feels that she has only 2800 characters left in her thumbs before the end of the semester. (A side note - During the intersession period, she plans to embark on a strict regimen of thumb yoga to prepare for the coming semester.)
    
    
    Which of these statements about the sensitivity report for the constraints is best?

    

    1. AFor every $1 increase in the budget, the ad campaign can reach twelve more customers.
    2. BThe advertising campaign needs another $2,560 to reach the maximum number of customers.
    3. COnly $940 of the advertising budget is being spent on this campaign.
    4. DIt is possible to reach enough customers by spending only $60.
43. 43
    Let xij = gallons of component i used in gasoline j. Assume that we have two components and two types of gasoline. There are 8000 gallons of component 1 available, and the demand gasoline types 1 and 2 are 11,000 and 14,000 gallons, respectively. Write the supply constraint for component 1.

    1. Ax21 + x22 ≤ 8000
    2. Bx11 + x12 ≤ 8000
    3. Cx21 + x22 ≥ 8000
    4. Dx12 + x22 ≥ 8000
44. 44
    Ch03 - The Love Boat
    Captain Stubing of The Pacific Princess seeks to maximize the return for their scheduled 14 day tour of Europe and has a number of options available to him. He can ply his guests with alcohol, upsell them on fancier restaurant fare or include more expensive excursion options. These alternatives are not without tradeoffs, since different guests prefer different options, depending largely on their age and wherewithal. Among the limitations Captain Stubing must consider is the number of excursions; they must offer at least five alternatives per day for each the ten days they will reach port. In addition, the restaurant choices must exceed 12 major styles of cuisine and the bar themes down in The Grotto should rotate every other day for the 14 days. It's possible to rotate them twice a day, but any more than that and poor Isaac spends more time tearing down and setting up than he does mixing libations. Ideally, there should be at least one different bar theme for every cuisine type. The total budget for excursions, restaurants and bar has been set by the parent company at $150,000. It costs $1,500 to stock supplies for a major cuisine category, it costs $5,000 to include each different excursion, and it costs $900 to set up with a different bar theme. Based on historical data, Captain Stubing believes that each new bar setup will generate $1,500 profit, each new cuisine type will bring in $5,000, and each excursion type will generate $17,000 for the ship.
    
    
    What should Captain Stubing's objective function be?

    1. AMax Z = Bar + Food + Excursion
    2. BMax Z = 900 Bar + 1500 Food + 5000 Excursion
    3. CMax Z = 5 Excursions + 12 Cuisine + 7 Bar + 150000 Budget
    4. DMax Z = 1500 Bar + 5000 Food + 17000 Excursion
45. 45A shadow price reflects which of the following in a maximization problem?

    1. Athe marginal gain in the objective that would be realized by adding one unit of a resource
    2. Bthe marginal gain in the objective that would be realized by subtracting one unit of a resource
    3. Cthe marginal cost of adding additional resources
    4. Dthe marginal gain of selling one more unit
46. 46The local cheese vendor offers to sell Taco Loco 200 pounds of cheese for these three products. Taco Loco should:

    1. Arefuse to buy any cheese.
    2. Bbuy at least 126 pounds of cheese for $5.33 or less.
    3. Cbuy less than 80 pounds of cheese for $1.45 per pound.
    4. Dbuy 46 pounds or less of cheese for $1.45 or less.
47. 47The production manager for Beer etc. produces two kinds of beer: light (L) and dark (D). Two resources used to produce beer are malt and wheat. The manager can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week, respectively. Each bottle of light beer requires 12 oz of malt and 4 oz of wheat, while a bottle of dark beer uses 8 oz of malt and 8 oz of wheat. Profits for light beer are $2 per bottle, and profits for dark beer are $1 per bottle.
    
    Which of the following is not a feasible solution?

    1. A0 L and 0 D
    2. B0 L and 400 D
    3. C300 L and 200 D
    4. D200 L and 300 D
48. 48Use the constraints given below and determine which of the following points is feasible.

    1. Ax = 2; y = 8
    2. Bx = 1; y = 4
    3. Cx = 2; y = 4
    4. Dx = 3; y = 0.5
49. 49The production manager for Beer etc. produces two kinds of beer: light (L) and dark (D). Two resources used to produce beer are malt and wheat. The manager can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week, respectively. Each bottle of light beer requires 12 oz of malt and 4 oz of wheat, while a bottle of dark beer uses 8 oz of malt and 8 oz of wheat. Profits for light beer are $2 per bottle, and profits for dark beer are $1 per bottle.
    
    
    What is the optimal weekly profit?

    1. A$900
    2. B$1000
    3. C$800
    4. D$700
50. 50For a maximization problem, assume that a constraint is binding. If the original amount of a resource is 4 lbs. and the range of feasibility (sensitivity range) for this constraint is from 3 lbs. to 6 lbs., increasing the amount of this resource by 1 lb. will result in the:

    1. Asame product mix, different total profit.
    2. Bdifferent product mix, different total profit.
    3. Cdifferent product mix, same total profit as before.
    4. Dsame product mix, same total profit.
51. 51
    Ch03 - The Love Boat
    Captain Stubing of The Pacific Princess seeks to maximize the return for their scheduled 14 day tour of Europe and has a number of options available to him. He can ply his guests with alcohol, upsell them on fancier restaurant fare or include more expensive excursion options. These alternatives are not without tradeoffs, since different guests prefer different options, depending largely on their age and wherewithal. Among the limitations Captain Stubing must consider is the number of excursions; they must offer at least five alternatives per day for each the ten days they will reach port. In addition, the restaurant choices must exceed 12 major styles of cuisine and the bar themes down in The Grotto should rotate every other day for the 14 days. It's possible to rotate them twice a day, but any more than that and poor Isaac spends more time tearing down and setting up than he does mixing libations. Ideally, there should be at least one different bar theme for every cuisine type. The total budget for excursions, restaurants and bar has been set by the parent company at $150,000. It costs $1,500 to stock supplies for a major cuisine category, it costs $5,000 to include each different excursion, and it costs $900 to set up with a different bar theme. Based on historical data, Captain Stubing believes that each new bar setup will generate $1,500 profit, each new cuisine type will bring in $5,000, and each excursion type will generate $17,000 for the ship.
    
    
    What is the appropriate constraint for the budget?

    1. A7 Bar + 12 Food + 5 Excursion ≤ 150,000
    2. B900 Bar + 1500 Food + 5,000 Excursion ≤ 150,000
    3. C1 Bar + 1 Food + 1 Excursion ≤ 150,000
    4. D1,500 Bar + 5,000 Food + 17,000 Excursion ≤ 150,000

Beschreibung

Quiz am Management Science Test 1, erstellt von Isak Reinhardsen am 13/02/2018.

Autor

Isak Reinhardsen

Sprache

English

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