BUS 660 Midterm Exam Graded A+ (GCU) Real Exam
100%
The difference between the transportation and assignment problems is that -
ANSWER: each supply and demand value is 1 in the assignment problem
In comparing different policies using simulation, one should use the same set of
random numbers whenever possible. - ANSWER: True
A quantity that is difficult to measure with certainty is called a - ANSWER:
probabilistic input
Models with a finite calling population - ANSWER: Use the size of the population as
parameter in the operating characteristics formulas
The number of units expected to be sold is uniformly distributed between 300 and
500. If r is a random number between 0 and 1, then the proper expression for sales is
- ANSWER: 300 + r(200)
In an all-integer linear program, - ANSWER: all variables must be integer.
Blending problems arise whenever a manager must decide how to - ANSWER: mix
two or more resources to produce one or more products.
Revenue management methodology was originally developed for - ANSWER: an
airline.
A transshipment problem is a generalization of the transportation problem in which
certain nodes are neither supply nodes nor destination nodes. - ANSWER: True
A requirement that two 0-1 variables both be either in or out of a solution together
is a - ANSWER: corequisite constraint
Before waiting lines can be analyzed economically, the arrivals' cost of waiting must
be estimated. - ANSWER: True
If arrivals occur according to the Poisson distribution every 20 minutes, then which is
NOT true? - ANSWER: λ = 20 arrivals per hour
Let A, B, and C be the amounts invested in companies A, B, and C. If no more than
50% of the total investment can be in company B, then - ANSWER: −.5A + .5B − .5C ≤
0
Which of the following is the most useful contribution of integer programming? -
ANSWER: using 0-1 variables for modeling flexibility
, Which of the following statements is INCORRECT regarding the advantages of
simulation? - ANSWER: Simulation guarantees an optimal solution.
Simulation is a trial-and-error approach to problem solving. - ANSWER: True
The classic assignment problem can be modeled as a 0-1 integer program. -
ANSWER: True
The composite unit in data envelopment analysis - ANSWER: All of the alternatives
are correct.
Which of the following is incorrect? - ANSWER: A global minimum is a local minimum
in a convex nonlinear optimization problem.
To develop a portfolio that provides the best return possible with a minimum risk,
the linear programming model will have an objective function which - ANSWER:
maximizes the minimum return.
For many waiting line situations, the arrivals occur randomly and independently of
other arrivals and it has been found that a good description of the arrival pattern is
provided by - ANSWER: a Poisson probability distribution
The number of units expected to be sold is uniformly distributed between 300 and
500. If r is a random number between 0 and 1, then the proper expression for sales is
- ANSWER: 300 + r(200)
Before waiting lines can be analyzed economically, the arrivals' cost of waiting must
be estimated. - ANSWER: True
Because most nonlinear optimization codes will terminate with a local optimum, the
solution returned by the codes will be the best solution. - ANSWER: False
The network flows into and out of demand nodes are what makes the production
and inventory application modeled in the textbook a - ANSWER: transshipment
model
Little's flow equations apply to any waiting line model. - ANSWER: True
A requirement that two 0-1 variables both be either in or out of a solution together
is a - ANSWER: corequisite constraint
In a transshipment problem, shipments - ANSWER: can occur between any two
nodes.
In an all-integer linear program, - ANSWER: all variables must be integer.
100%
The difference between the transportation and assignment problems is that -
ANSWER: each supply and demand value is 1 in the assignment problem
In comparing different policies using simulation, one should use the same set of
random numbers whenever possible. - ANSWER: True
A quantity that is difficult to measure with certainty is called a - ANSWER:
probabilistic input
Models with a finite calling population - ANSWER: Use the size of the population as
parameter in the operating characteristics formulas
The number of units expected to be sold is uniformly distributed between 300 and
500. If r is a random number between 0 and 1, then the proper expression for sales is
- ANSWER: 300 + r(200)
In an all-integer linear program, - ANSWER: all variables must be integer.
Blending problems arise whenever a manager must decide how to - ANSWER: mix
two or more resources to produce one or more products.
Revenue management methodology was originally developed for - ANSWER: an
airline.
A transshipment problem is a generalization of the transportation problem in which
certain nodes are neither supply nodes nor destination nodes. - ANSWER: True
A requirement that two 0-1 variables both be either in or out of a solution together
is a - ANSWER: corequisite constraint
Before waiting lines can be analyzed economically, the arrivals' cost of waiting must
be estimated. - ANSWER: True
If arrivals occur according to the Poisson distribution every 20 minutes, then which is
NOT true? - ANSWER: λ = 20 arrivals per hour
Let A, B, and C be the amounts invested in companies A, B, and C. If no more than
50% of the total investment can be in company B, then - ANSWER: −.5A + .5B − .5C ≤
0
Which of the following is the most useful contribution of integer programming? -
ANSWER: using 0-1 variables for modeling flexibility
, Which of the following statements is INCORRECT regarding the advantages of
simulation? - ANSWER: Simulation guarantees an optimal solution.
Simulation is a trial-and-error approach to problem solving. - ANSWER: True
The classic assignment problem can be modeled as a 0-1 integer program. -
ANSWER: True
The composite unit in data envelopment analysis - ANSWER: All of the alternatives
are correct.
Which of the following is incorrect? - ANSWER: A global minimum is a local minimum
in a convex nonlinear optimization problem.
To develop a portfolio that provides the best return possible with a minimum risk,
the linear programming model will have an objective function which - ANSWER:
maximizes the minimum return.
For many waiting line situations, the arrivals occur randomly and independently of
other arrivals and it has been found that a good description of the arrival pattern is
provided by - ANSWER: a Poisson probability distribution
The number of units expected to be sold is uniformly distributed between 300 and
500. If r is a random number between 0 and 1, then the proper expression for sales is
- ANSWER: 300 + r(200)
Before waiting lines can be analyzed economically, the arrivals' cost of waiting must
be estimated. - ANSWER: True
Because most nonlinear optimization codes will terminate with a local optimum, the
solution returned by the codes will be the best solution. - ANSWER: False
The network flows into and out of demand nodes are what makes the production
and inventory application modeled in the textbook a - ANSWER: transshipment
model
Little's flow equations apply to any waiting line model. - ANSWER: True
A requirement that two 0-1 variables both be either in or out of a solution together
is a - ANSWER: corequisite constraint
In a transshipment problem, shipments - ANSWER: can occur between any two
nodes.
In an all-integer linear program, - ANSWER: all variables must be integer.
