QUESTION 1A baker uses organic flour from a local farmer in all of his baked goods. For each batch o

QUESTION 1A baker uses organic flour from a local farmer in all of his baked goods. For each batch of bread (x1), he uses 4 pounds of flour. For a batch of cookies (x2), he uses 3 pounds, and for a batch of muffins (x3) he uses 2 pounds. The local farmer can supply him with no more than 24 pounds per week. The constraint that represents this condition is:x1 8, x2 8, x38x1+ x2 + x324x1+ x2 + x3 244×1+ 3×2 + 2×3 24QUESTION 2A difficult aspect of using spreadsheets to solve management science problems isobtaining the solution to standard management science problems.data entry.performing sensitivity analysis.setting up a spreadsheet with complex models and formulas.QUESTION 3A technique that assumes certainty in its solution is referred to asstochastic.probabilistic.deterministic.parametric.QUESTION 4Administrators at a university will charge students $150 to attend a seminar. It costs $3000 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?18202430QUESTION 5At the break-even point,total revenue equals total cost.profit is maximized.revenue is maximized.costs are minimized.QUESTION 6Decision analysis is a ________ technique.linear mathematical programmingprobabilisticnetworknon-linear programming techniqueQUESTION 7EKA manufacturing company produces part #2206 for the aerospace industry. Each unit of part #2206 is sold for $15. The unit production cost of part #2206 is $3. The fixed monthly cost of operating the production facility is $3000. How many units of part #2206 have to be sold in a month to break even?166.67200250500QUESTION 8If fixed costs decrease, but variable cost and price remain the same, the break-even pointdecreases.increases.remains the same.may increase or decrease depending on sales.QUESTION 9If the price decreases, but fixed and variable costs do not change, the break-even pointdecreasesincreasesremains the samemay increase or decrease, depending on salesQUESTION 10It costs $50,000 to start a production process. Variable cost is $25 per unit and revenue is $45 per unit. What is the break-even point?1000 units1111 units2000 units2500 unitsQUESTION 11It’s time to buy pet food again and Lisa heads to the grocery store with $40 in her purse, leaving her seven hungry cats and four hungry dogs at home. Dog food costs $1 per can and cat food costs $0.50 per can. Dogs eat two full cans of food each day but cats eat only one can. Lisa would like to buy enough food to last through her three-day weekend. What is one appropriate constraint for this scenario?7C + 4D 31C + 2D 40.5C + 1D 407C + 4D 1.51 pointsQUESTION 12Linear mathematical programming techniques assume that all parameters in the models areknown with certainty.unknown.predictable.unpredictable.1 pointsQUESTION 13The components of break-even analysis arecost and profit.volume and cost.volume, cost and profit.volume and profit.1 pointsQUESTION 14The earliest developments and use of management science techniques was in the field ofmilitary operations.railroads.politics.manufacturing.1 pointsQUESTION 15The indicator that results in total revenues being equal to total cost is called themarginal cost.marginal volume.break-even point.profit mix.1 pointsQUESTION 16The management science process does not includefeedback.implementation.subjective preference.information.QUESTION 17The purpose of break-even analysis is to determine the number of units of a product to sell that willappeal to the consumer.result in a profit.result in a loss.result in zero profit.1 pointsQUESTION 18The result of an effective decision making process should be monitored in order toreveal the break-even point.reveal errors in the implementation.keep fixed and variable costs distinct.change the scientific method.1 pointsQUESTION 19The term ________ refers to testing how a problem solution reacts to changes in one or more of the model parameters.graphical solutiondecision analysissensitivity analysisbreak-even analysis1 pointsQUESTION 20Variable costdepends on the number of units produced.plus marginal cost equals fixed cost.is equal to total cost in deterministic models.is the same as average cost.1 pointsQUESTION 21Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?a decision variablean objective functiona constrainta parameter1 pointsQUESTION 22Which of the following statements is false?Decision models selectively describe the managerial situation.Decision models consider all factors from the real world.Decision models designate performance measures that reflect objectives.Decision models designate decision variables.1 pointsQUESTION 23Which one of the following management science methods is not a probabilistic technique?assignment modelsdecision analysisqueuing analysisstatistical analysis1 pointsQUESTION 24Which steps of the management science process can either be a recommended decision or information that helps a manager make a decision?model implementationproblem definitionmodel solutionproblem formulation1 pointsQUESTION 25________ are generally independent of the volume of units produced and sold.Fixed costsVariable costsProfitsAverage cost1 pointsQUESTION 26________ involves determining the functional relationship between variables, parameters, and equations.Problem observationProblem definitionModel constructionModel solution1 pointsQUESTION 27Larry’s Fish Market buys salmon (S) for $5 per pound and a local whitefish (W) for $3.50 per pound. Larry wants to minimize his cost, but he cannot spend more than $160. The objective function that minimizes these costs for Larry is:5S + 3.5W 160Min 5S + 3.5 WMax 5S + 3.5 WMin 5S + 3.5W 1601 pointsQUESTION 28Classification of management science techniques does not recognizelinear mathematical programming.probabilistic techniques.network techniques.computer programming.QUESTION 29A model is a functional relationship that includes:variables.parameters.equations.All of theseQUESTION 30Which of these decision support systems is the most comprehensive with respect to an entire organization?an Excel spreadsheetan ERPQM for WindowsOLAP

 

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