CBK Test Questions And Correct Answers 2024 Update

CBK Test Questions And Correct Answers 2024 Update the formula for conditional probability - Answer -The equation P(A/B)= P(AB)/P(B) is .900 - Answer -Suppose that 10 golfers enter a tournament and that their respective skill levels are approximately the same. Six of the entrants are female and two of those are older than 40 years old. Three of the men are older than 40 years old. What is the probability that the winner will be either female or older than 40 years old? 8 - Answer -A discrete random variable has a mean of 400 and a variance of 64. What is the standard deviation The entire area under each of the curves equals 1 - Answer -Which of the following is not true about continuous random variables? the average or expected monetary outcome of a decision if it can be repeated a large number of times - Answer -expected monetary value (EMV) is true - Answer -By studying a person's Utility Curve, one can determine whether the individual is a risk seeker, risk avoider, or is indifferent to risk alt. 3 - Answer -The following is an opportunity loss table alt 1- 0, 90, 85 alt 2- 50, 0, 110 alt 3- 75, 80, 0 which decision should be made based on the minimax regret criterion? 14 - Answer -Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent) forecast sales for the next day using a two-day moving average exponential smoothing - Answer -Which of the following is not classified as a qualitative forecasting model $720 - Answer -Mark Achin sells 3,600 electric motors each year. The cost of these is $200 each, and demand is constant throughout the year. The cost of placing an order is $40, while the holding cost is $20 per unit per year. There are 360 working days per year and the lead-time is 5 days. If Mark orders 200 units each time he places an order, what would his total ordering cost be for the year 7 - Answer -Sales for boxes of Girl Scout cookies over a 4-month period were forecasted as follows: 100, 120, 115, and 126. The actual results over the 4-month period were as follows: 110, 114, 119, 115. What was the MAD of the 4-month forecast? levels for finished goods are a direct function of demand, includes raw materials, work-in-process, and finished goods, is any stored resource used to satisfy current or future need, and needs from raw materials through finished goods can be reasonably determined, once finished goods demand is determined - Answer -Inventory $1,200 - Answer -R. C. Barker makes purchasing decisions for his company. one product that he buys costs $50 per unit when the order quantity is less than 500. When the quantity ordered is 500 or more, the price per unit drops to $48. The ordering cost is $30 per order and the annual demand is 7,500 units. The holding cost is 10% of the purchase cost. If R.C. orders 500 units each time he places an order, what would the total annual holding cost be? 184 pizzas - Answer -Judith Thompson is the manager of the student center cafeteria. She is introducing pizza as a menu item. The pizza is ordered frozen from a local pizza establishment and baked at the cafeteria. Judith anticipates a weekly demand of 10 pizzas. The cafeteria is open 45 weeks a year, 5 days a week. The ordering cost is $15 and the holding cost is $.40 per pizza per year. What is the optimal number of pizzas Judith should order? none of the above - Answer -consider the following linear programming problem: maxmize 12X + 10Y subject to 4X + 3Y_ 480 2X + 3Y _ 360 all variables _ 0 the maximum possible value for the objective funtion is lead-time - Answer -the point at which to reorder depends directly on which of the following