I have completed the answers to the questions. I just need to have someone confirm that they are correct. Thank you!
Indicate whether the sentence or statement is true or false.
F 1. Management science is the application of a scientific approach to solving management problems in order to help managers make decisions faster.
F 3. Management science techniques focus primarily on 3 specific steps of the management science process (observation, model construction and implementation) to find an appropriate solution to a problem.
F 4. Total cost equal the fixed cost plus the variable cost per unit divided by volume.
T 5. A model is a functional relationship including variables, parameters, and equations.
Identify the letter of the choice that best completes the statement or answers the question.
B 6. The steps of the scientific method are:
a. problem definition, model construction, observation, model solution, implementation.
b. observation, problem definition, model construction, model solution, implementation.
c. model construction, problem definition, observation, model solution, implementation.
d. observation, implementation, problem definition, model construction, model solution.
B 7. Which of the following is incorrect with respect to the use of models in decision making?
a. they improve understanding of the problem
b. they promote subjectivity in decision making
c. they are generally easy to use
d. they provide a systematic approach to problem solving
A 8. The quantitative analysis approach requires
a. mathematical expressions for the relationship
b. uncomplicated problems
c. the manager to have prior experience with similar problems
d. all of the above
D 9. Which of the following statements is false?
a. common sense is one test of the validity of a model.
b. one way to validate a model is to predict history.
c. models are usually built sequentially rather than iteratively.
d. model validation means making sure that the available information obtained from the analysis is understood in the context of the original real world situation.
B 10. The limits of the problem and the degree to which it pervades other units other units in the organization must be included during the __________ step of the management science process.
1. Management science is the application of a scientific approach to solving management problems in order to help managers make decisions faster.- False, management science is to help managers make optimalor near optimal solutions as fast as pssible
2. A model is a functional relationship including variables, parameters, and equations. -True, yes these three are integral component of any management science ...
Solution contains answers of Multiple choice question with detailed explanation.
Quantitative Method Multiple Choice Questions
Answer the following multiple choice problems:
1. The minimization of cost or maximization of profit is the
a. objective of a business
b. constraint of operations management
c. goal of management science
d. objective of linear programming
e. both a and d
2. Cully furniture buys 2 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 $75000 to invest in shelves this week, and the warehouse has 18000 cubic feet available for storage. Profit for each big shelf is $300 and for each medium shelf is $150. What is the storage space constraint?
a. 90B + 100M 18000
b. 90B + 100M 18000
c. 100B + 90M 18000
d. 500B + 300M 18000
e. 300B + 500M 18000
3. The production manager for the Coory soft drink company is considering the production of 2 kinds of soft drinks: regular and diet. Two of her limited resources are production time (8 hours = 480 minutes per day) and syrup (1 of her ingredients) limited to 675 gallons per day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and profits for diet soft drink are $2.00 per case. Which of the following is not a feasible production combination? Please show complete work. Only answer carries no marks.
a. 90R and 75D
b. 135R and 0D
c. 0R and 120D
d. 75R and 90D
e. 40R and 100D
4. Mallory Furniture buys 2 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 $75000 to invest in shelves this week, and the warehouse has 18000 cubic feet available for storage. Profit for each big shelf is $300 and for each medium shelf is $150. If the Mallory Furniture company decides to purchase 150 big shelves and no medium shelves, which of the two resources will be left over? Please show complete work. Only answer carries no marks.
a. investment money only
b. storage space only
c. investment money and storage space
d. neither investment money nor storage space
5. Which of the following could not be a linear programming problem constraint?
a. 1A + 2B < 5
b. 1A + 2B 3
c. 1A + 2B = 3
d. 1A + 2B + 3C + 4D 5
e. 1A + 3B 6
6. Given the following linear programming problem:
Min Z = 2x + 8y
Subject to (1) 8x + 4y 64
(2) 2x + 4y 32
(3) y 2
Please show complete work. Only answer carries no marks.
At the optimal solution the minimum cost is:
7. The dietitian for the local hospital is trying to control the calorie intake of the heart surgery patients. Tonight's dinner menu could consist of the following food items: chicken, lasagna, pudding, salad, mashed potatoes and jello. The calories per serving for each of these items are as follows: chicken (600), lasagna (700), pudding (300), salad (200), mashed potatoes with gravy (400) and jello (200). If the maximum calorie intake has to be limited to 1200 calories. What is the dinner menu that would result in the highest calorie in take without going over the total calorie limit of 1200? Please show complete work. Only answer carries no marks.
a. chicken, mashed potatoes and gravy, jello and salad
b. lasagna, mashed potatoes and gravy, and jello
c. chicken, mashed potatoes and gravy, and pudding
d. lasagna, mashed potatoes and gravy, and salad
e. chicken, mashed potatoes and gravy, and salad
8. In a media selection problem, the estimated number of customers reached by a given media would generally be specified in the _________________. Even if these media exposure estimates are correct, using media exposure as a surrogate does not lead to maximization of ______________.
a. problem constraints, sales
b. problem constraints, profits
c. objective function, profits
d. problem output, marginal revenue
e. problem statement, revenue
9. If Xab = the production of product a in period b, then indicate that the limit on production of the company's "3" products in period 2 is 400.
a. X32 400
b. X21 + X22 + X23 400
c. X12 + X22 + X32 400
d. X12 + X22 + X32 400
e. X23 400
10. Let xij = gallons of component i used in gasoline j. Assume that we have two components and two types of gasoline. There are 8,000 gallons of component 1 available, and the demand gasoline types 1 and 2 are 11,000 and 14,000 gallons respectively. Write the constraint stating that the component 1 cannot account for more than 35% of the gasoline type 1.
a. x11 + x12 (.35)(x11 + x21)
b. x11 .35 (x11 + x21)
c. x11 .35 (x11 + x12)
d. -.65x11 + .35x21 0
e. .65x11 - .35x21 0
11. Let: rj = regular production quantity for period j, oj =overtime production quantity in period j, ii = inventory quantity in period j, and di = demand quantity in period j
Correct formulation of the demand constraint for a multi-period scheduling problem is:
a. rj + oj + i2 - i1 di
b. rj + oj + i1 - i2 di
c. rj + oj + i1 - i2 di
d. rj - oj - i1 + i2 di
e. rj + oj + i2 - i1 di
12. Which of the following is not an integer linear programming problem?
a. pure integer
b. mixed integer
c. 0-1 integer
13. If we are solving a 0-1 integer programming problem, the constraint x1 x2 is a ________________constraint.
a. multiple choice
b. mutually exclusive
e. none of the above