10/12/2015 TheAceStudent: SAINT MBA550 FINAL EXAM (20 QUESTIONS)

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SAINT MBA550 FINAL EXAM (20 QUESTIONS)

FOR ANSWER PLZ SEE BELOWQuestion 1. 1. The production manager for the Coory soft drink company is considering theproduction of two kinds of soft drinks: regular (R) and diet (D). Two of her limited resources areproduction time (8 hours = 480 minutes per day) and syrup (1 of the ingredients), limited to 675gallons per day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a dietcase needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case andprofits for diet soft drink are $2.00 per case. What is the objective function? (Points : 5)MAX $2R + $4DMAX $3R + $2DMAX $3D + $2RMAX $4D + $2RQuestion 2. 2. Project management differs from management of more traditional day­to­dayactivities because: (Points : 5)it has limited time frame.it has an unlimited budget.it is more expensive.it involves more of the workforce.Question 3. 3. The maximum number of constraints that could define the feasible solution space is_____: (Points : 5)234UnlimitedQuestion 4. 4. A plant manager is attempting to determine the production schedule of variousproducts to maximize profit. Assume that a machine hour constraint is binding. If the originalamount of machine hours available is 200 minutes., and the range of feasibility is from 130 minutesto 300 minutes, providing two additional machine hours will result in: (Points : 5)the same product mix, different total profit.a different product mix, same total profit as before.the same product mix, same total profit.a different product mix, different total profit.Question 5. 5. The $75 per credit hour course fee tacked on to all the MBA classes has generated awindfall of $56,250 in its first semester. “Now we just need to make sure we spend it all,” theAssistant Dean cackled. She charged the Graduate Curriculum Committee with generating ashopping list before their next meeting. Four months later, the chairman of the committee distributedthe following. As the professor for the quantitative modeling course, he tended to think in terms ofdecision variables, so he added the left­most column for ease of use.DecisionVariableItemCostNoteAiPads for everybody$750/unit

SAINT MBA550 FINAL EXAM (20 QUESTIONS)

10/12/2015 TheAceStudent: SAINT MBA550 FINAL EXAM (20 QUESTIONS)

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Must get a cover if these are purchasedBiPad covers with MBA logo$25/unitNot needed unless we buy iPadsCSpeaker series$15,000Can’t afford both this and the iPadsDSubscriptions to the Wall Street Journal$10/unitDon’t need if we have the electronic versionESubscriptions to the electronic version of the Wall Street Journal$5/unitWorthless without the iPads

Which of the constraints best describes the relationship between the iPads for everyone and thespeaker series? (Points: 5)A – C = 1A + C = 1A – C = 0A + C = 2Question 6. 6. In a ________ integer model, all decision variables have integer solution values.(Points : 5)Total0­1Mixedall of the aboveQuestion 7. 7. If a maximization linear programming problem consists of all less­than­or­equal­toconstraints with all positive coefficients and the objective function consists of all positive objectivefunction coefficients, then rounding down the linear programming optimal solution values of thedecision variables will ________ result in a feasible solution to the integer linear programmingproblem. (Points : 5)AlwaysSometimesOptimallyNeverQuestion 8. 8. When systematically formulating a linear program, the first step is to: (Points : 5)construct the objective functionformulate the constraintsidentify the decision variables.identify the parameter values.Question 9. 9. The critical path is the ________ path through the network. (Points : 5)LongestShortestStraightestmost expensiveQuestion 10. 10. In a 0­1 integer programming model, if the constraint x1 – x2 = 0, it means when

10/12/2015 TheAceStudent: SAINT MBA550 FINAL EXAM (20 QUESTIONS)

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project 2 is selected, project 1 ________ be selected. (Points : 5)must alwayscan sometimescan neveris alreadyQuestion 11. 11. Multiple optimum solutions can occur when the objective function is _______ aconstraint line. (Points : 5)unequal toequal tolinear toparallel toQuestion 12. 12. A shadow price reflects which of the following in a maximization problem? (Points :5)The marginal gain in the objective that would be realized by adding one unit of a resourceThe marginal gain in the objective that would be realized by subtracting one unit of a resourceThe marginal cost of adding additional resourcesThe marginal gain of selling one more unitQuestion 13. 13. In a ________ integer model, some solution values for decision variables areintegers and others can be non­integer. (Points : 5)Total0­1Mixedall of the aboveQuestion 14. 14. For most graphs, the constraint equations which intersect to form a solution pointmust be solved simultaneously: (Points : 5)because the solution coordinates from the graph cannot be visually read with high precision.in order to confirm the mathematically determined coordinates.in order to determine all of the optimal point solution.because the slope b and the y­intercept a are not always integers.Question 15. 15. In order to transform a “>=” constraint into an equality (“=”) in a linear programmingmodel: (Points : 5)add a slack variable.add a surplus variable.subtract a surplus variablesubtract a surplus variable and add a slack variable.Question 16. 16. Cully Turniture buys two products for resale: big shelves (B) and medium shelves(M). Each big shelf costs $500 and requires 100 cubic feet of storage space, and each mediumshelf costs $300 and requires 90 cubic feet of storage space. The company has $75,000 to investin shelves this week, and the warehouse has 18,000 cubic feet available for storage. Profit for eachbig shelf is $300 and for each medium shelf is $150. What is the storage space constraint? (Points :5)90 B + 100 M = 1800090 B + 100 M = 18000100 B + 90 M = 18000500 B + 300 M = 18000Question 17. 17. ________ is used to analyze changes in model parameters. (Points : 5)Optimal solutionFeasible solutionSensitivity analysisA slack variable

10/12/2015 TheAceStudent: SAINT MBA550 FINAL EXAM (20 QUESTIONS)

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Question 18. 18. Which of the following could be a linear programming objective function? (Points :5)Z = 1A + 2BC + 3DZ = 1A + 2B + 3C + 4DZ = 1A + 2B / C + 3DZ = 1A + 2B2 + 3DQuestion 19. 19. The production manager for the Softy soft drink company is considering theproduction of two kinds of soft drinks: regular and diet. Two of her resources are production time (8hours = 480 minutes per day) and syrup (1 of the ingredients) limited to 675 gallons per day. Toproduce a regular case requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutesand 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and profits for diet soft drinkare $2.00 per case. What is the time constraint? (Points : 5)2R + 4D = 4802D + 4R = 4802R + 3D = 4803R + 2D = 480Question 20. 20. If t is the expected completion time for a given activity, then _____. (Points : 5)LF = LS – tEF = ES – tEF = ES + tEF = LS – t

SAINT MBA550 FINAL EXAM (20 QUESTIONS)