2024 Newest|BUS-660 Quantitative Methods Study Guide|2024-2025 UPDATE|COMPREHENSIVE FREQUENTLY MOST TESTED
QUESTIONS AND VER IFIED ANSWERS|GET IT 100% ACCURATE!!
1. The difference between the transportation and assignment problems is that: each supply and demand value is 1 in the
assignment problem
2. In comparing different policies using simulation, one should use the same set of random numbers whenever possible.: True
3. A quantity that is difficult to measure with certainty is called a: probabilistic input
4. Models with a finite calling population: Use the size of the population as parameter in the operating characteristics
formulas
5. The number of units expected to be sold is uniformly distributed between 300 and 500. If r is a random number between 0 and
1, then the proper expression for sales is: 300 + r(200)
6. In an all-integer linear program,: all variables must be integer.
7. Blending problems arise whenever a manager must decide how to: mix two or more resources to produce one or more
products.
8. Revenue management methodology was originally developed for: an airline.
9. A transshipment problem is a generalization of the transportation problem in which certain nodes are neither supply nodes no
destination nodes.: True 10. A requirement that two 0-1 variables both be either in or out of a solution together is a:
corequisite constraint
11. Before waiting lines can be analyzed economically, the arrivals' cost of waiting must be estimated.: True
12. If arrivals occur according to the Poisson distribution every 20 minutes, then which is NOT true?: » = 20 arrivals per hour
13. Let A, B, and C be the amounts invested in companies A, B, and C. If no more than 50% of the total investment can be in
company B, then: .5A + .5B .5C d 0
14. Which of the following is the most useful contribution of integer programming?: using 0-1 variables for modeling
flexibility
15. Which of the following statements is INCORRECT regarding the advantages of simulation?: Simulation guarantees an
optimal solution. 16. Simulation is a trial-and-error approach to problem solving.: True
17. The classic assignment problem can be modeled as a 0-1 integer program.: True
18. The composite unit in data envelopment analysis: All of the alternatives are correct.
19. Which of the following is incorrect?: A global minimum is a local minimum in a convex nonlinear optimization
problem.
20 To develop a portfolio that provides the best return possible with a minimum risk, the linear programming model will have an
objective function which: maximizes the minimum return.
21. For many waiting line situations, the arrivals occur randomly and independently of other arrivals and it has been found tha
a good description of the arrival pattern is provided by: a Poisson probability distribution
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QUESTIONS AND VER IFIED ANSWERS|GET IT 100% ACCURATE!!
1. The difference between the transportation and assignment problems is that: each supply and demand value is 1 in the
assignment problem
2. In comparing different policies using simulation, one should use the same set of random numbers whenever possible.: True
3. A quantity that is difficult to measure with certainty is called a: probabilistic input
4. Models with a finite calling population: Use the size of the population as parameter in the operating characteristics
formulas
5. The number of units expected to be sold is uniformly distributed between 300 and 500. If r is a random number between 0 and
1, then the proper expression for sales is: 300 + r(200)
6. In an all-integer linear program,: all variables must be integer.
7. Blending problems arise whenever a manager must decide how to: mix two or more resources to produce one or more
products.
8. Revenue management methodology was originally developed for: an airline.
9. A transshipment problem is a generalization of the transportation problem in which certain nodes are neither supply nodes no
destination nodes.: True 10. A requirement that two 0-1 variables both be either in or out of a solution together is a:
corequisite constraint
11. Before waiting lines can be analyzed economically, the arrivals' cost of waiting must be estimated.: True
12. If arrivals occur according to the Poisson distribution every 20 minutes, then which is NOT true?: » = 20 arrivals per hour
13. Let A, B, and C be the amounts invested in companies A, B, and C. If no more than 50% of the total investment can be in
company B, then: .5A + .5B .5C d 0
14. Which of the following is the most useful contribution of integer programming?: using 0-1 variables for modeling
flexibility
15. Which of the following statements is INCORRECT regarding the advantages of simulation?: Simulation guarantees an
optimal solution. 16. Simulation is a trial-and-error approach to problem solving.: True
17. The classic assignment problem can be modeled as a 0-1 integer program.: True
18. The composite unit in data envelopment analysis: All of the alternatives are correct.
19. Which of the following is incorrect?: A global minimum is a local minimum in a convex nonlinear optimization
problem.
20 To develop a portfolio that provides the best return possible with a minimum risk, the linear programming model will have an
objective function which: maximizes the minimum return.
21. For many waiting line situations, the arrivals occur randomly and independently of other arrivals and it has been found tha
a good description of the arrival pattern is provided by: a Poisson probability distribution
1/4
