If we are solving a 0-1 integer programming problem, the constraint x1 = x2 is a __________ constraint.
The following table represents the cost to ship from Distribution Center 1, 2, or 3 to Customer A, B, or C.
The constraint that represents the quantity demanded by Customer B is:
A professor needs help from 3 student helpers to complete 4 tasks. The first task is grading; the second is scanning; the third is copying, and the fourth is organizing student portfolios. The estimated time for each student to do each task is given in the matrix below.
Which of the following constraints represents the assignment for student A?
Mutually exclusive events are:
Jim is considering pursuing an MS in Information Systems degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 20% for University X and 45% for University Y. What is the probability that Jim will not be accepted at either university?
Determining the worst payoff for each alternative and choosing the alternative with the best worst is called :
A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow.
For the following frequency distribution of demand, the random number 0.8177 would be interpreted as a demand of:
In the Monte Carlo process, values for a random variable are generated by __________ a probability distribution.
Given an actual demand of 59, a previous forecast of 64, and an alpha of .3, what would the forecast for the next period be using simple exponential smoothing?
__________ moving averages react more slowly to recent demand changes than do __________ moving averages.
A production process requires a fixed cost of $50,000. The variable cost per unit is $25 and the revenue per unit is projected to be $45. Find the break-even point.
Tracksaws, Inc. makes tractors and lawn mowers. The firm makes a profit of $30 on each tractor and $30 on each lawn mower, and they sell all they can produce. The time requirements in the machine shop, fabrication, and tractor assembly are given in the table.
Let x = number of tractors produced per period
y = number of lawn mowers produced per period
MAX 30x + 30y
subject to 2 x + y ≤ 60
2 x + 3y ≤ 120
x ≤ 45
x, y ≥ 0
The graphical solution is shown below.
What is the shadow price for fabrication? Write your answers with two significant places after the decimal and do not include the dollar “$” sign.
Consider the following linear program, which maximizes profit for two products, regular (R), and super (S):
50R + 75S
1.2R + 1.6 S ≤ 600 assembly (hours)
0.8R + 0.5 S ≤ 300 paint (hours)
.16R + 0.4 S ≤ 100 inspection (hours)
A change in the market has increased the profit on the super product by $5. Total profit will increase by __________. Write your answers with two significant places after the decimal and do not include the dollar “$” sign.
Kitty Kennels provides overnight lodging for a variety of pets. An attractive feature is the quality of care the pets receive, including well balanced nutrition. The kennel’s cat food is made by mixing two types of cat food to obtain the “nutritionally balanced cat diet.” The data for the two cat foods are as follows:
Kitty Kennels wants to be sure that the cats receive at least 5 ounces of protein and at least 3 ounces of fat per day. What is the optimal cost of this plan? Write your answers with two significant places after the decimal and do not include the dollar “$” sign.
Find the optimal Z value for the following problem. Do not include the dollar “$” sign with your answer.
MAX Z = 5×1 + 8×2
s.t. x1 + x2 ≤ 6
5×1 + 9×2 ≤ 45
x1, x2 ≥ 0 and integer
A company markets educational software products, and is ready to place three new products on the market. Past experience has shown that for this particular software, the chance of “success” is 80%. Assume that the probability of success is independent for each product. Find the probability that at least two of the three is successful. Round your result to four significant places after the decimal.
The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code. The probabilities of low, medium, and high compliance are 0.20, 0.30, and 0.50 respectively. What are the expected net revenues for the number of workers he will decide to hire? Do not include the dollar “$” sign with your answer.
An investor is consider 4 different opportunities, A, B, C, or D. The payoff for each opportunity will depend on the economic conditions, represented in the payoff table below.
. Economic Condition
. Poor Average Good Excellent
. Investment (S1) (S2) (S3) (S4)
. A 50 75 20 30
. B 80 15 40 50
. C -100 300 -50 10
. D 25 25 25 25
Suppose all states of the world are equally likely (each state has a probability of 0.25). What is the expected value of perfect information? Round your answer to the nearest integer.
Consider the following decision tree. The objective is to choose the best decision among the two available decisions A and B. Find the expected value of the best decision. Do not include the dollar “$” sign with your answer.
Recent past demand for product ZXT is given in the following table.