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Category: Multiple Problems
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# 1. A decision model has the following input variables: Historical

### Customer Question

1. A decision model has the following input variables: Historical sales data; and historical advertising budget. This model is considered to be probabilistic. (Points : 4)
True
False
2. A quantitative model can still yield acceptable results even if the input data is unreliable. (Points : 4)
True
False
3. The ABC Corporation is considering introducing a new product, which will require buying new equipment for a monthly payment of \$5,000. Each unit produced can be sold for \$20.00. ABC incurs a variable cost of \$10.00 per unit. What is ABC's monthly breakeven amount in dollars? (Points : 4)
\$100,000
\$10,000
\$5,000
\$50,000
\$1,000
4. Suppose you have a decision model that contains the input variable "number of labor hours." You would like to test how the solution changes if a labor strike takes effect. This type of analysis is called sensitivity analysis. (Points : 4)
True
False
5. Determining how much the solution will change if there are changes in the input data is part of (Points : 4)
model formulation
model solution
model interpretation
model development
model assessment
6. Acquiring input data is part of (Points : 4)
model solution
model formulation
model interpretation
model testing
model identification
7. If all the variables in a model are under the control of the decision maker, then the model is considered to be (Points : 4)
probabilistic
random
mathematical
schematic
deterministic
8. Which of the following variables is considered random or probabilistic? (Points : 4)
future interest rates
last week's sales data
historical stock prices
historical interest rates
9. Which of the following variables is considered non-random or deterministic? (Points : 4)
next year's cash flow projections
future interest rates
last year's income
projected value of the euro next week
projected NASDAQ index
10. Models that have random variables as input data are considered to be deterministic. (Points : 4)
True
False
11. "Solver" typically generates the following report(s) (Points : 4)
sensitivity analysis report
limits report
answer report and sensitivity analysis report only
answer report, sensitivity analysis report, and limits report
12. A redundant constraint is eliminated from a linear programming model. What effect will this have on the optimal solution? (Points : 4)
feasible region will decrease in size
feasible region will increase in size
a decrease in objective function value
an increase in objective function value
no change
13. When using Solver, the parameter Set Target Cell is typically associated with decision variables. (Points : 4)
True
False
14. If an isoprofit line can be moved outward such that the objective function value can be made to reach infinity, then this problem has an unbounded solution. (Points : 4)
True
False
15. The constraint for a given resource is given by the following equation:
2X1 + 3X2 20
If X1 = 5 and X2 = 4 how many units of this resource are unused? (Points : 4)
20
2
22
0
9
16. In a product mix problem, a decision maker has limited availability of weekly labor hours. Labor hours would most likely constitute a decision variable rather than a constraint. (Points : 4)
True
False
17. Consider the following linear programming model
Max 2X1 + 3X2
Subject to:
X1 + X2 4
X1 2
X1, X2 0
This linear programming model has (Points : 4)
redundant constraints
infeasible solution
alternate optimal solution
unique solution
unbounded solution
18. Consider the following linear programming model:
Max X1 + X2
Subject to:
X1 + X2 2
X1 1
X2 3
X1, X2 0
This linear programming model has (Points : 4)
alternate optimal solution
unbounded solution
redundant constraint
infeasible solution
unique solution
19. When solving a linear programming model graphically, the corner-point method is more efficient than the isoprofit/isocost lines. (Points : 4)
True
False
20. Consider the following linear programming model:
Max X12 + X2 + 3X3
Subject to:
X1 + X2 3
X1 + X2 1
X1, X2 0
This problem violates which of the following assumptions? (Points : 4)
certainty
proportionality
divisibility
linearity
integrality
Submitted: 2 years ago.
Category: Multiple Problems
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