QUANTITATIVE METHODS
FINAL EXAM QUESTIONS
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,Question 1
A hot dog manufacturer wishes to minimize the cost in dollars of producing a low-cost niched product while meeting
the dietary guidelines for protein and sodium. Once the model has been run, the surplus variable in the sodium
constraint has a value of 1300 milligrams. The best interpretation of this outcome is:
Correct Answer
The minimum cost hot dog has 1300 milligrams more sodium than required.
Question 2
A model is a functional relationship that includes:
Correct Answer
All of the above (equations, variables, and parameters)
Question 3
A slack variable:
Correct Answer
is the amount by which the left side of a ≤ constraint is smaller than the right side.
Question 4
A university is planning a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment.
Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will
attend, what price should be charged per person to break even?
Correct Answer
$175
Question 5
Administrators at a university will charge students $150 to attend a seminar. It costs $3000 to reserve a room, hire an
instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course
materials. How many students would have to register for the seminar for the university to break even?
Correct Answer
24
Question 6
At the break-even point:
Correct Answer
total revenue equals total cost
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, Question 7
Belmont has bids from two companies to build it's new indoor sports facility. It will choose between Company A and
Company B. Company A has a fixed cost of 75,000 and a variable cost of 15. Company B's fixed cost is 90,000 and
variable cost is 11. Use the total cost equation for each company and compare them. At what volume is the total cost
the same, that is at what volume is Belmont indifferent between the two bidders?
Correct Answer
3,750
Question 8
Cully Furniture 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 medium shelf costs $300 and requires 90 cubic feet of storage
space. The company has $75,000 to invest in shelves this week, and the warehouse has 18,000 cubic feet available for
storage. Profit for each big shelf is $300 and for each medium shelf is $150. What is the maximum profit?
Correct Answer
$45,000
Question 9
Cully Furniture 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 medium shelf costs $300 and requires 90 cubic feet of storage
space. The company has $75,000 to invest in shelves this week, and the warehouse has 18,000 cubic feet available for
storage. Profit for each big shelf is $300 and for each medium shelf is $150. In order to maximize profit, how many big
shelves (B) and how many medium shelves (M) should be purchased?
Correct Answer
B = 150, M = 0
Question 10
If fixed costs decrease, but variable cost and price remain the same, the break-even point:
Correct Answer
decreases
Question 11
If the price increases, but fixed and variable costs do not change, the break-even point:
Correct Answer
decreases
Question 12
In a linear programming problem, a valid objective function can be represented as:
Correct Answer
Max Z = 3 x + 3 y + 1/3 z
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FINAL EXAM QUESTIONS
170+ (Latest 2025-2026 Edition) 100%
Verified Q&A + Answer Key Solutions
100% Guarantee Pass
This Exam contains: Quantitative Methods Final Exam
✓ Questions
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
Trusted by thousands of students and professionals worldwide Page 1 of 27
,Question 1
A hot dog manufacturer wishes to minimize the cost in dollars of producing a low-cost niched product while meeting
the dietary guidelines for protein and sodium. Once the model has been run, the surplus variable in the sodium
constraint has a value of 1300 milligrams. The best interpretation of this outcome is:
Correct Answer
The minimum cost hot dog has 1300 milligrams more sodium than required.
Question 2
A model is a functional relationship that includes:
Correct Answer
All of the above (equations, variables, and parameters)
Question 3
A slack variable:
Correct Answer
is the amount by which the left side of a ≤ constraint is smaller than the right side.
Question 4
A university is planning a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment.
Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will
attend, what price should be charged per person to break even?
Correct Answer
$175
Question 5
Administrators at a university will charge students $150 to attend a seminar. It costs $3000 to reserve a room, hire an
instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course
materials. How many students would have to register for the seminar for the university to break even?
Correct Answer
24
Question 6
At the break-even point:
Correct Answer
total revenue equals total cost
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, Question 7
Belmont has bids from two companies to build it's new indoor sports facility. It will choose between Company A and
Company B. Company A has a fixed cost of 75,000 and a variable cost of 15. Company B's fixed cost is 90,000 and
variable cost is 11. Use the total cost equation for each company and compare them. At what volume is the total cost
the same, that is at what volume is Belmont indifferent between the two bidders?
Correct Answer
3,750
Question 8
Cully Furniture 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 medium shelf costs $300 and requires 90 cubic feet of storage
space. The company has $75,000 to invest in shelves this week, and the warehouse has 18,000 cubic feet available for
storage. Profit for each big shelf is $300 and for each medium shelf is $150. What is the maximum profit?
Correct Answer
$45,000
Question 9
Cully Furniture 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 medium shelf costs $300 and requires 90 cubic feet of storage
space. The company has $75,000 to invest in shelves this week, and the warehouse has 18,000 cubic feet available for
storage. Profit for each big shelf is $300 and for each medium shelf is $150. In order to maximize profit, how many big
shelves (B) and how many medium shelves (M) should be purchased?
Correct Answer
B = 150, M = 0
Question 10
If fixed costs decrease, but variable cost and price remain the same, the break-even point:
Correct Answer
decreases
Question 11
If the price increases, but fixed and variable costs do not change, the break-even point:
Correct Answer
decreases
Question 12
In a linear programming problem, a valid objective function can be represented as:
Correct Answer
Max Z = 3 x + 3 y + 1/3 z
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