CH 05 - Advanced Linear Programming Applications

CH 05 - Advanced Linear Programming Applications © Cengage. Testing Powered by Cognero. Page 1 True / False 1. Revenue management methodology was originally developed for the banking industry. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: IMS.ASWC.19.05.02 - 5.2 NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking TOPICS: 5.2 Revenue Management KEYWORDS: Bloom's: Remember 2. The goal of portfolio models is to create a portfolio that provides the best balance between risk and return. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: IMS.ASWC.19.05.03 - 5.3 NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking TOPICS: 5.3 Portfolio Models and Asset Allocation KEYWORDS: Bloom's: Remember 3. DEA is used to measure the relative efficiency of two (or more) units in different industries, such as a bank and a school. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: IMS.ASWC.19.05.01 - 5.1 NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking TOPICS: 5.1 Data Envelopment Analysis KEYWORDS: Bloom's: Remember 4. If the inputs of the composite unit in DEA are greater than the inputs for an individual unit, then the composite is more efficient. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: IMS.ASWC.19.05.01 - 5.1 NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking CH 05 - Advanced Linear Programming Applications © Cengage. Testing Powered by Cognero. Page 2 TOPICS: 5.1 Data Envelopment Analysis KEYWORDS: Bloom's: Understand 5. It is possible for a single DEA programming model to identify all operating units that are inefficient. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: IMS.ASWC.19.05.01 - 5.1 NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking TOPICS: 5.1 Data Envelopment Analysis KEYWORDS: Bloom's: Understand 6. Upon completion of a DEA model, all operating units that are relatively efficient are not necessarily identified. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: IMS.ASWC.19.05.01 - 5.1 NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking TOPICS: 5.1 Data Envelopment Analysis KEYWORDS: Bloom's: Understand 7. DEA will show all but one operating unit to be relatively inefficient in the case where an operating unit produces the most of every output and also consumes the least of every in