BUS-660 Quantitative Methods Study Guide
Latest Update 2024-2025 110 Questions and
100% Verified Correct Answers Guaranteed A+
A convex function is - CORRECT ANSWER: bowl-shaped up.
A feasible solution is a global optimum if there are no other feasible solutions with a
better objective function value in the immediate neighborhood. - CORRECT ANSWER:
False
A graphical tool that helps describe the logic of the simulation model is a - CORRECT
ANSWER: flowchart.
A key trade-off in most portfolio optimization models must be made between risk and
return. - CORRECT ANSWER: True
A multiple choice constraint involves selecting k out of n alternatives, where k ≥ 2. -
CORRECT ANSWER: False
A nonlinear optimization problem is any optimization problem in which at least one term
in the objective function or a constraint is nonlinear. - CORRECT ANSWER: True
A quantity that is difficult to measure with certainty is called a - CORRECT ANSWER:
probabilistic input
A requirement that two 0-1 variables both be either in or out of a solution together is a -
CORRECT ANSWER: corequisite constraint
A requirement that two 0-1 variables both be either in or out of a solution together is a -
CORRECT ANSWER: corequisite constraint
, A simulation model used in situations where the state of the system at one point in time
does not affect the state of the system at future points in time is called a - CORRECT
ANSWER: static simulation model.
A static simulation model is used in situations where the state of the system affects how
the system changes or evolves over time. - CORRECT ANSWER: False
A table of uniformly distributed random numbers should be read - CORRECT ANSWER:
in any consistent sequence.
A transshipment problem is a generalization of the transportation problem in which
certain nodes are neither supply nodes nor destination nodes. - CORRECT ANSWER:
True
A transshipment problem is a generalization of the transportation problem in which
certain nodes are neither supply nodes nor destination nodes. - CORRECT ANSWER:
True
Adding more channels always improves the operating characteristics of the waiting line
and reduces the waiting cost. - CORRECT ANSWER: True
Because most nonlinear optimization codes will terminate with a local optimum, the
solution returned by the codes will be the best solution. - CORRECT ANSWER: False
Before waiting lines can be analyzed economically, the arrivals' cost of waiting must be
estimated. - CORRECT ANSWER: True
Before waiting lines can be analyzed economically, the arrivals' cost of waiting must be
estimated. - CORRECT ANSWER: True
Before waiting lines can be analyzed economically, the arrivals' cost of waiting must be
estimated. - CORRECT ANSWER: True
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