Quantitative Methods Final Practice Test –
Questions With Applicable Solutions
Save
Terms in this set (80)
A _____ probability is the Posterior
altered marginal probability
of an event based on
additional information.
A dummy activity is used to Passage of time
show a precedence
relationship, but it does not
represent a ______.
A shadow price reflects The marginal gain in the objective that would be
which of the following in a realized by adding one unit of a resource
maximization problem?
A single-bay car wash with 0.4
a Poisson arrival rate and
an exponential service time
has cars arriving at an
average of 10 minutes apart
with an average service
time of 4 minutes. What is
the system utilization?
A single-server queuing 0.50
system has average time
between arrivals of 20
minutes and a service time
of 10 minutes each.
Assuming Poisson arrivals
and exponential service
times, the utilization factor
is approximately:
,Administrators at a 24
university will charge
students $150 to attend a
seminar. It costs $3,000 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?
An automotive center 2.83
keeps track of customer
complaints received each
week. The probability
distribution for complaints
can be represented as the
table shown below. The
random variable xi
represents the number of
complaints, and p(xi) is the
probability of receiving xi
complaints.
0 = 0.10
1 = 0.15
2 = 0.18
3 = 0.20
4 = 0.20
5 = 0.10
6 = 0.07
What is the average
number of complaints
received per week?
, Assume that x2, x7, and x8 0.4x2 - 0.6x7 - 0.6x8 <= 0
are the dollars invested in
three different common
stocks from the NYSE. In
order to diversify the
investments, the investing
company requires that no
more than 60% of the
dollars invested can be in
"stock 2." The constraint for
this requirement can be
written as:
Aunt Anastasia operates a Kiln
small business: she
produces seasonal ceramic
objects to sell to tourists.
For the spring, she is
planning to make baskets,
eggs, and rabbits. Based on
your discussion with your
aunt, you construct the
following table.
Review the Shadow Prices
and determine which
additional resource you
recommend that Aunt
Anastasia try to obtain.
Questions With Applicable Solutions
Save
Terms in this set (80)
A _____ probability is the Posterior
altered marginal probability
of an event based on
additional information.
A dummy activity is used to Passage of time
show a precedence
relationship, but it does not
represent a ______.
A shadow price reflects The marginal gain in the objective that would be
which of the following in a realized by adding one unit of a resource
maximization problem?
A single-bay car wash with 0.4
a Poisson arrival rate and
an exponential service time
has cars arriving at an
average of 10 minutes apart
with an average service
time of 4 minutes. What is
the system utilization?
A single-server queuing 0.50
system has average time
between arrivals of 20
minutes and a service time
of 10 minutes each.
Assuming Poisson arrivals
and exponential service
times, the utilization factor
is approximately:
,Administrators at a 24
university will charge
students $150 to attend a
seminar. It costs $3,000 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?
An automotive center 2.83
keeps track of customer
complaints received each
week. The probability
distribution for complaints
can be represented as the
table shown below. The
random variable xi
represents the number of
complaints, and p(xi) is the
probability of receiving xi
complaints.
0 = 0.10
1 = 0.15
2 = 0.18
3 = 0.20
4 = 0.20
5 = 0.10
6 = 0.07
What is the average
number of complaints
received per week?
, Assume that x2, x7, and x8 0.4x2 - 0.6x7 - 0.6x8 <= 0
are the dollars invested in
three different common
stocks from the NYSE. In
order to diversify the
investments, the investing
company requires that no
more than 60% of the
dollars invested can be in
"stock 2." The constraint for
this requirement can be
written as:
Aunt Anastasia operates a Kiln
small business: she
produces seasonal ceramic
objects to sell to tourists.
For the spring, she is
planning to make baskets,
eggs, and rabbits. Based on
your discussion with your
aunt, you construct the
following table.
Review the Shadow Prices
and determine which
additional resource you
recommend that Aunt
Anastasia try to obtain.
