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    Multiple choice questions

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    Question 1
    In the scientific method, model parameters are:

    a. always changing
    b. constant during the process of solving a specific problem
    c. defined as decision variables
    d. found in the model solution process

    Question 2
    The components of break-even analysis are:

    a. volume, cost and profit
    b. fixed cost, variable cost and equipment structure
    c. percentage of total revenue, percentage of total cost
    d. total sales, total variable revenue

    Question 3
    A management science model:

    a. is an abstract representation of an existing problem
    b. appears most frequently as a mathematical relationship
    c. can appear in the form of a graph or a chart
    d. is accurately described by all of the above

    Question 4
    Management science is also referred to as:

    a. management
    b. quantitative analysis
    c. qualitative analysis
    d. computer science

    Question 5
    Management science can be described as:

    a. strictly a science
    b. both an art and a science
    c. strictly an art
    d. a deterministic technique

    Question 6
    Linear programming models exhibit certain common characteristics except:

    a. decision variables for measuring the level of activity
    b. linearity among some constraint relationships
    c. an objective function to be maximized or minimized
    d. a set of constraints

    Question 7
    For most graphs, the constraint equations which intersect to form a solution point must be solved simultaneously:

    a. because the solution coordinates from the graph cannot be visually read with high precision
    b. in order to confirm the mathematically determined coordinates
    c. in order to determine all of the optimal point solution
    d. because the slope b and the y-intercept a are not always integers

    Question 8
    The maximum number of constraints that could define the feasible solution space is:

    a. 2
    b. 3
    c. 4
    d. unlimited

    Question 9
    Which of the list of items below is not a component of a linear programming problem?

    a. constraints
    b. objective function
    c. decision variables
    d. a nonlinear residual

    Question 10
    The change in the value of the objective function per unit increase in the value of the right hand side is referred to as:

    a. shadow price
    b. quantity values
    c. feasible range
    d. optimal range

    Question 11
    In order to transform a ">=" constraint into an equality ("=") in a linear programming model,

    a. add a slack variable
    b. add a surplus variable
    c. subtract a surplus variable
    d. subtract a surplus variable and add a slack variable

    Question 12
    A decrease in fixed costs with everything else remaining constant

    a. decreases the break-even point
    b. increases the break-even point
    c. keeps the break-even point same
    d. increases the variable costs

    Question 13
    The term ____________ refers to testing how a problem solution reacts to changes in one or more of the model parameters.

    a. priority recognition
    b. decision analysis
    c. analysis of variance
    d. sensitivity analysis

    Question 14
    Which of the following could not be a linear programming problem constraint?

    a. 1A + 2B
    b. 1A + 2B = 3
    c. 1A + 2B > 3
    d. 1A + 2B < 3

    Question 15
    Non-negativity constraints restrict the decision variable to

    a. 0
    b. positive values
    c. negative values
    d. both a and b

    Question 16
    A graphical solution is generally limited to linear programming problems with

    a. 1 decision variable
    b. 2 decision variables
    c. 3 decision variables
    d. 4 decision variables

    Question 17
    The region which satisfies all of the constraints in a graphical linear programming problem is called the

    a. region of optimality
    b. feasible solution space
    c. region of non-negativity
    d. optimal solution space

    Question 18
    The optimal solution is the ___________ feasible solution.

    a. best
    b. only
    c. worst
    d. none of the above

    Question 19
    Multiple optimum solutions can occur when the objective function is _______ a constraint line.

    a. unequal to
    b. equal to
    c. linear to
    d. parallel to

    Question 20
    The optimal solution of a minimization problem is at the extreme point _________ the origin.

    a. farthest from
    b. closest to
    c. exactly at
    d. none of the above

    Question 21
    If the original amount of a resource is 25, and the range of feasibility for it can increase by 5, then the amount of the resource can increase to

    a. 25
    b. 30
    c. 20
    d. 125

    Question 22
    A shadow price reflects which of the following in a maximization problem?

    a. the marginal gain in the objective that would be realized by adding 1 unit of a resource
    b. the marginal gain in the objective that would be realized by subtracting 1 unit of a resource
    c. the marginal cost of adding additional resources
    d. none of the above

    Question 23
    The standard constraint form in a linear programming model requires that all decision variables be on the left side of the inequality (or equality) and numerical values on the right side.

    a. True
    b. False

    Question 24
    In financial management applications of linear programming in which funds are to be invested, the objective is to:

    a. maximize risk
    b. minimize return
    c. maximize return
    d. maximize cost

    Question 25
    A popular example of a linear programming model is the

    a. product mix problem
    b. diet problem
    c. transportation problem
    d. all of the above

    Question 26
    In an investment example of a linear programming problem, the decision variables are

    a. the monetary amount invested in each investment alternative
    b. the returns of the investment alternatives
    c. the requirements for investing
    d. none of the above

    Question 27
    A < constraint represents a

    a. minimum requirement
    b. maximum limit
    c. either of the above
    d. minimization constraint

    Question 28
    An optimal solution will always occur at

    a. the intersection of two or more constraint lines
    b. an extreme point
    c. a corner point
    d. any of the above

    Question 29
    The solution of a management science model provides a manager with useful information that can aid in the decision making process.

    a. True
    b. False

    Question 30
    Standard form requires that fractional relationships between variables in constraints be eliminated

    a. True
    b. False

    Question 31
    Which of the following is not a type of integer linear programming problem?

    a. continuous
    b. zero-one integer
    c. mixed integer
    d. pure integer

    Question 32
    A zero-one integer problem always finds an optimal integer solution.

    a. True
    b. False

    Question 33
    In a _____ integer model, some solution values for decision variables are integer and others can be non-integer.

    a. total
    b. 0 - 1
    c. mixed
    d. all of the above

    Question 34
    In a _____ integer model, the solution values of the decision variables are 0 or 1.

    a. total
    b. 0 - 1
    c. mixed
    d. all of the above

    Question 35
    A feasible solution to a maximization problem is ensured by rounding ________ non-integer solution values.

    a. up and down
    b. up
    c. down
    d. up or down

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    https://brainmass.com/business/finance/multiple-choice-questions-65473

    Solution Preview

    Question 1
    In the scientific method, model parameters are:

    a. always changing
    b. constant during the process of solving a specific problem
    c. defined as decision variables
    d. found in the model solution process

    Answer: b. constant during the process of solving a specific problem

    Answer: b. constant during the process of solving a specific problem

    Question 2
    The components of break-even analysis are:

    a. volume, cost and profit
    b. fixed cost, variable cost and equipment structure
    c. percentage of total revenue, percentage of total cost
    d. total sales, total variable revenue

    Answer: a. volume, cost and profit

    Question 3
    A management science model:

    a. is an abstract representation of an existing problem
    b. appears most frequently as a mathematical relationship
    c. can appear in the form of a graph or a chart
    d. is accurately described by all of the above

    Answer: d. is accurately described by all of the above

    Question 4
    Management science is also referred to as:

    a. management
    b. quantitative analysis
    c. qualitative analysis
    d. computer science

    Answer: b. quantitative analysis

    Question 5
    Management science can be described as:

    a. strictly a science
    b. both an art and a science
    c. strictly an art
    d. a deterministic technique

    Answer: b. both an art and a science

    Question 6
    Linear programming models exhibit certain common characteristics except:

    a. decision variables for measuring the level of activity
    b. linearity among some constraint relationships
    c. an objective function to be maximized or minimized
    d. a set of constraints

    Answer: b. linearity among some constraint relationships

    Question 7
    For most graphs, the constraint equations which intersect to form a solution point must be solved simultaneously:

    a. because the solution coordinates from the graph cannot be visually read with high precision
    b. in order to confirm the mathematically determined coordinates
    c. in order to determine all of the optimal point solution
    d. because the slope b and the y-intercept a are not always integers

    Answer: a. because the solution coordinates ...

    Solution Summary

    Answers to 35 Multiple choice questions in Quantitative Methods.

    $2.19

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