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BUS-660 Quantitative Methods Study Guide exam Questions and Answers
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BUS-660 Quantitative Methods Study Guide exam Questions and Answers
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BUS-660 Quantitative Methods StudyGuide exam Questions and Answers
The difference between the transportation and assignment problems is that -
-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. - -True
-A quantity that is difficult to measure with certainty is called a - -
probabilistic input
-Models with a finite calling population - -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 - -300 + r(200)
-In an all-integer linear program, - -all variables must be integer.
-Blending problems arise whenever a manager must decide how to - -mix
two or more resources to produce one or more products.
-Revenue management methodology was originally developed for - -an
airline.
-A transshipment problem is a generalization of the transportation problem
in which certain nodes are neither supply nodes nor destination nodes. - -
True
-A requirement that two 0-1 variables both be either in or out of a solution
together is a - -corequisite constraint
-Before waiting lines can be analyzed economically, the arrivals' cost of
waiting must be estimated. - -True
-If arrivals occur according to the Poisson distribution every 20 minutes,
then which is NOT true? - -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 - -−.5A
+ .5B − .5C ≤ 0
, -Which of the following is the most useful contribution of integer
programming? - -using 0-1 variables for modeling flexibility
-Which of the following statements is INCORRECT regarding the advantages
of simulation? - -Simulation guarantees an optimal solution.
-Simulation is a trial-and-error approach to problem solving. - -True
-The classic assignment problem can be modeled as a 0-1 integer program. -
-True
-The composite unit in data envelopment analysis - -All of the alternatives
are correct.
-Which of the following is incorrect? - -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 - -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 - -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 - -300 + r(200)
-Before waiting lines can be analyzed economically, the arrivals' cost of
waiting must be estimated. - -True
-Because most nonlinear optimization codes will terminate with a local
optimum, the solution returned by the codes will be the best solution. - -
False
-The network flows into and out of demand nodes are what makes the
production and inventory application modeled in the textbook a - -
transshipment model
-Little's flow equations apply to any waiting line model. - -True
-A requirement that two 0-1 variables both be either in or out of a solution
together is a - -corequisite constraint
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