A plant supervisor is contemplating shopping for extra stamping

machines to accommodate rising demand. The alternaties are to purchase 1

machine, 2 machines, or three machines. The earnings realized beneath every alternatie

are a perform of whether or not their bid for a current protection contract is accepted

or not. The payoff desk beneath illustrates the earnings realized (in $000’s)

primarily based on the totally different eventualities confronted by the supervisor.

Alternatie

Bid Accepted Bid

Rejected

Purchase 1 machine

$10 $5

Purchase 2 machines

$30 $Four

Purchase three machines

$40 $2

Utilizing the data aboe, which alternatie must be

chosen primarily based on the maximax criterion?

: Purchase 1 machine

Purchase 2 machines

Purchase three machines

: 2

of two

Query 2. Query

: A plant supervisor is contemplating

shopping for extra stamping machines to accommodate rising demand. The

alternaties are to purchase 1 machine, 2 machines, or three machines. The earnings

realized beneath every alternatie are a perform of whether or not their bid for a current

protection contract is accepted or not. The payoff desk beneath illustrates the

earnings realized (in $000’s) primarily based on the totally different eventualities confronted by the

supervisor.

Alternatie

Bid Accepted Bid

Rejected

Purchase 1 machine

$10 $5

Purchase 2 machines

$30 $Four

Purchase three machines

$40 $2

Confer with the data aboe. Assume that primarily based on

historic bids with the protection contractor, the plant supervisor beliees that

there’s a 65% likelihood that the bid shall be accepted and a 35% likelihood that the

bid shall be rejected.

What’s the anticipated alue beneath certainty?

: 1.05

1.95

17.25

27.75

: 2

of two

Query three. Query

: âThe likelihood of eent B, gien

that eent A has occurredâ is named a __________ likelihood.

: steady

marginal

easy

joint

conditional

: 2

of two

Query Four. Query

: Assume that you just hae an urn

containing 10 balls of the next description:

Four are white (W) and lettered (L)

2 are white (W) and numbered (N)

three are yellow (Y) and lettered (L)

1 is yellow (Y) and numbered (N)

Should you draw a numbered ball (N), the likelihood that this

ball is white (W) is zero.60.

: True

False

: 2

of two

Query 5. Query

: What’s the system for the

break-een level of a easy revenue mannequin?

: Fastened price / ariable price per unit

(Promoting worth per unit â ariable price per

unit) / fastened price

Fastened price / (promoting worth per unit â ariable

price per unit)

Fastened price / (ariable price per unit â promoting

worth per unit)

Promoting worth per unit â (fastened price / ariable

price per unit)

: 2

of two

Query 6. Query

: Arrials in a uniersity adising

workplace throughout the week of registration are recognized to comply with a Poisson

distribution with an aerage of 4 folks arriing every hour. What’s the

likelihood that precisely 4 folks will arrie within the subsequent hour?

: zero.1813

zero.1865

zero.1923

zero.1954

: 2

of two

Query 7. Query

: The financial order amount

(EOQ) system assumes that each one enter information are recognized with certainty.

:

True

False

: 2

of two

Query eight. Query

: Using “knowledgeable

opinion” is one solution to approximate subjectie likelihood alues.

:

True

False

: 2

of two

Query 9. Query

: Properties of the conventional

distribution embrace:

:

a steady bell-shaped distribution.

a discrete likelihood distribution.

the variety of trials is thought and is both

1, 2, three, Four, 5, and many others.

the random ariable can assume solely a finite

or restricted set of alues.

use in queuing.

: 2

of two

Query 10. Query

: Expressing earnings via the

relationship amongst unit worth, fastened prices, and ariable prices is an instance of:

: a sensitiity evaluation mannequin.

a quantitatie evaluation mannequin.

a postoptimality relationship.

a parameter specification mannequin.

not one of the aboe.

: 2

of two

Query 11. Query

: A bakery buys sugar in

15-pound luggage. The bakery makes use of 5000 luggage of sugar annually. Carrying prices are

$20 per bag per yr. Ordering prices are estimated at $5 per order. Assume that

the bakery is open 250 days a yr and its each day demand is estimated at 20

luggage. It takes 5 days for every order of sugar to be crammed. What are the overall

annual holding prices?

:

$500

$1000

$20

$750

$250

: 2

of two

Query 12. Query

: A plant supervisor is contemplating

shopping for extra stamping machines to accommodate rising demand. The

alternaties are to purchase 1 machine, 2 machines, or three machines. The earnings

realized beneath every alternatie are a perform of whether or not their bid for a current

protection contract is accepted or not. The payoff desk beneath illustrates the

earnings realized (in $000’s) primarily based on the totally different eventualities confronted by the

supervisor.

Alternatie

Bid Accepted Bid

Rejected

Purchase 1 machine

$10 $5

Purchase 2 machines

$30 $Four

Purchase three machines

$40 $2

Utilizing the data aboe, which alternatie must be

chosen primarily based on the Laplace criterion?

: Purchase 1 machine

Purchase 2 machines

Purchase three machines

: 2

of two

Query 13. Query

: Figuring out the aerage payoff

for every alternatie and selecting the one with one of the best payoff is the strategy

known as:

: maximax

maximin

Laplace

minimax remorse

anticipated financial alue

: 2

of two

Query 14. Query

: Bob White is conducting

analysis on month-to-month bills for medical care, together with oer-the-counter

medication. His dependent ariable is month-to-month bills for medical care whereas his

unbiased ariable is variety of members of the family. Under is his Excel output.

Click on right here to iew an Excel ersion of this output

Referring to the data aboe, primarily based on his mannequin, every

extra member of the family will increase the expected prices by how a lot?

: $110.47

$16.83

$93.64

$127.30

: 2

of two

Query 15. Query

: A controllable ariable can be

known as:

: a parameter.

a choice ariable.

a mathematical mannequin.

a measurable amount.

not one of the aboe.

: 2

of two

Query 16. Query

: A seasonal index of __________

signifies that the season is aerage.

: 10

100

zero.5

zero

1

: 2

of two

Query 17. Query

: Within the exponential smoothing

with pattern adjustment forecasting technique, lacking one thing is the:

:

slope of the pattern line.

new forecast.

Y-axis intercept.

unbiased ariable.

pattern smoothing fixed.

: zero

of two

Query 18. Query

: Assume that you just hae an urn

containing 10 balls of the next description:

Four are white (W) and lettered (L)

2 are white (W) and numbered (N)

three are yellow (Y) and lettered (L)

1 is yellow (Y) and numbered (N)

Should you draw a lettered ball (L), the likelihood that this

ball is white (W) is zero.571.

:

True

False

: 2

of two

Query 19. Query

: The situation of improper information

yielding deceptive outcomes is known as:

:

rubbish in, rubbish out.

break-een level.

uncontrollable ariable.

postoptimality.

not one of the aboe.

: 2

of two

Query 20. Query

: Bob White is conducting

analysis on month-to-month bills for medical care, together with oer-the-counter

medication. His dependent ariable is month-to-month bills for medical care whereas his

unbiased ariable is variety of members of the family. Under is his Excel output.

Click on right here to iew an Excel ersion of this output

Referring to the data aboe, what % of the ariation

in medical bills is defined by the scale of the household?

:

48.three%

49.6%

50.6%

51.three%

: 2

of two

Query 21. Query

: Our division retailer is haing

a sale on private computer systems, of which three are in inventory (no rain checks).

There’s a sure likelihood of promoting none. The likelihood of promoting one

is twice as nice because the likelihood of promoting none. The likelihood of

promoting two is 3 times the likelihood of promoting none. Lastly, the

likelihood of promoting all the private computer systems is 4 occasions as nice because the

likelihood of promoting none.

Utilizing the aboe data, what’s the likelihood of

promoting no private computer systems? Trace: Let the likelihood of promoting none equal

x.

: zero.05

zero.08

zero.1

zero.2

: 2

of two

Query 22. Query

: A medium-term forecast is

thought-about to coer what size of time?

: 2-Four weeks

1 month to 1 yr

2-Four years

5-10 years

20 years

: 2

of two

Query 23. Query

: If two eents are mutually

exclusie, then:

: their possibilities may be added.

they could even be collectiely exhaustie.

the joint likelihood is the same as zero.

if one happens, the opposite can’t happen.

The entire aboe

: 2

of two

Query 24. Query

: Arrials at a fast-food

restaurant comply with a Poisson distribution with a imply arrial fee of 16

prospects per hour. What’s the likelihood that within the subsequent hour there shall be

precisely 12 arrials?

: zero.0000

zero.0661

zero.7500

zero.1322

Not one of the aboe

: 2

of two

Query 25. Query

: The Division of Motor ehicles

(DM) can serice prospects at a fee of 20 per hour (or 1/three per minute) when it

involves license renewals. The serice time follows an exponential distribution.

What’s the likelihood that it’ll take lower than three minutes for a

specific buyer to get a license renewal?

: zero.5

zero

1

zero.368

zero.632

: 2

of two

Query 26. Query

: Demand for soccer balls at a

new sporting items retailer is forecasted utilizing the next regression equation:

Y = 98 + 2.2X the place X is the variety of months that the shop has been in

existence. Let April be represented by X = Four. April is assumed to hae a

seasonality index of 1.15. What’s the forecast for soccer ball demand for the

month of April (rounded to the closest integer)?

: 123

107

100

115

Not one of the aboe

: 2

of two

Query 27. Query

: The very best mannequin is a

statistically important mannequin with a excessive r-square and few ariables.

:

True

False

: 2

of two

Query 28. Query

: Historic information signifies that

solely 20% of cable prospects are keen to change corporations. If a binomial

course of is assumed, then in a pattern of 20 cable prospects, what’s the

likelihood that not more than three prospects could be keen to change their

cable?

: zero.85

zero.15

zero.20

zero.411

zero.589

: 2

of two

Query 29. Query

: A seasonal index of 1 means

that the season is aerage.

:

True

False

: 2

of two

Query 30. Query

: Which of the next is true

concerning a regression mannequin with multicollinearity, a excessive r2 alue, and a low

F-test significance leel?

: The mannequin will not be a very good prediction mannequin.

The excessive alue of r2 is as a result of

multicollinearity.

The interpretation of the coefficients is aluable.

The importance leel checks for the

coefficients usually are not alid.

The importance leel for the F-test will not be alid.

: 2

of two

Query 31. Query

: Bob White is conducting

analysis on month-to-month bills for medical care, together with oer-the-counter

medication. His dependent ariable is month-to-month bills for medical care whereas his

unbiased ariable is variety of members of the family. Under is his Excel output.

Click on right here to iew an Excel ersion of this output

Referring to the data aboe, the importance F-test,

is that this mannequin a very good prediction equation?

:

Sure

No

: 2

of two

Query 32. Query

: The size of time that it

takes the tollbooth attendant to serice every drier can sometimes be described

by the:

: regular distribution.

uniform distribution.

exponential distribution.

Poisson distribution.

Not one of the aboe

: 2

of two

Query 33. Query

: Time-series fashions try to

predict the longer term through the use of historic information.

:

True

False

: 2

of two

Query 34. Query

: Each day demand for newspapers

for the final 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13,

15 (listed from oldest to most up-to-date). Forecast gross sales for the following day utilizing a

two-day weighted moing aerage the place the weights are three and 1 are:

:

14.5

13.5

14

12.25

12.75

: 2

of two

Query 35. Query

: Our division retailer is haing

a sale on private computer systems, of which three are in inventory (no rain checks).

There’s a sure likelihood of promoting none. The likelihood of promoting one

is twice as nice because the likelihood of promoting none. The likelihood of

promoting two is 3 times the likelihood of promoting none. Lastly, the

likelihood of promoting all the private computer systems is 4 occasions as nice because the

likelihood of promoting none.

Utilizing the aboe data, what’s the likelihood of

promoting all three private computer systems? Trace: Let the likelihood of promoting none

equal x.

:

zero.Four

zero.32

zero.36

zero.44

: 2

of two

Query 36. Query

: Bob White is conducting

analysis on month-to-month bills for medical care, together with oer-the-counter

medication. His dependent ariable is month-to-month bills for medical care whereas his

unbiased ariable is variety of members of the family. Under is his Excel output.

Click on right here to iew an Excel ersion of this output

Referring to the data aboe, what’s the alue of the

correlation coefficient?

: 55.278

zero.695

zero.483

zero.474

: 2

of two

Query 37. Query

: Lack of goodwill have to be

included in stockout prices.

:

True

False

: 2

of two

Query 38. Query

: The likelihood, P, of any eent

or state of nature occurring is larger than or equal to zero and fewer than or

equal to 1.

:

True

False

: 2

of two

Query 39. Query

: As one will increase the variety of

intervals used within the calculation of a moing aerage:

: better emphasis is positioned on newer

information.

much less emphasis is positioned on newer information.

the emphasis positioned on newer information stays

the identical.

it requires a pc to automate the

calculations.

one is normally on the lookout for a long-term

prediction.

: 2

of two

Query 40. Query

: Which of the next strategies

tells whether or not the forecast tends to be too excessive or too low?

: MAD

MSE

MAPE

Decomposition

Bias

: 2

of two

Query 41. Query

: A moing aerage forecasting

technique is a causal forecasting technique.

: True

False

: 2

of two

Query 42. Query

: One goal of regression is

to know the connection between ariables.

:

True

False

: 2

of two

Query 43. Query

: When demand is fixed, the

Reorder level (ROP) is a perform of demand and lead time.

:

True

False

: 2

of two

Query 44. Query

: Which of the next will not be

categorised as a qualitatie forecasting mannequin?

:

Exponential smoothing

Delphi technique

Jury of executie opinion

Gross sales drive composite

Shopper market surey

: 2

of two

Query 45. Query

: Think about the next

gasoline information:

Click on right here to iew an Excel ersion of this desk.

Referring to the data aboe, what’s the seasonal

index for fourth quarter?

:

1.zero17

1.175

.977

.899

: 2

of two

Query 46. Query

: The classical technique of

figuring out likelihood is:

: subjectie likelihood.

marginal likelihood.

objectie likelihood.

joint likelihood.

conditional likelihood.

: 2

of two

Query 47. Query

: A consulting agency has receied

two Tremendous Bowl tickets from one in every of its shoppers. To be truthful, the agency is

randomly choosing two totally different worker names to “win” the tickets.

There are six secretaries, fie consultants and 4 companions within the agency. Which

of the next statements is fake?

: The likelihood of a secretary successful a

ticket on the primary draw is 6/15.

The likelihood of a secretary successful a

ticket on the second draw gien guide gained a ticket on the primary draw

is 6/15.

The likelihood of a guide successful a

ticket on the primary draw is 1/three.

The likelihood of two secretaries successful

each tickets is 1/7.

The likelihood of a accomplice successful a ticket

on the second draw gien secretary gained a ticket on the primary draw is

Four/14.

: 2

of two

Query 48. Query

: The EM that an individual is

keen to gie up to be able to aoid the danger related to of venture is

known as the:

:

threat premium.

certainty equialent.

EPI.

EwPI.

ESI.

: 2

of two

Query 49. Query

: Enrollment in a specific

class for the final 4 semesters has been 120, 126, 110, and 130 (listed from

oldest to most up-to-date). What’s the enrollment forecast for subsequent semester utilizing

exponential smoothing with an alpha = zero.2? Assume that an preliminary forecast for

the primary semester was 120 (so the forecast and the precise have been the identical).

: 118.96

121.17

130

120

Not one of the aboe

: 2

of two

Query 50. Query

: An urn incorporates seen blue and

three yellow chips. If the drawing of chips is finished with substitute, what’s

the likelihood of drawing a blue chip on the second draw gien yellow

chip was drawn on the primary draw?

: zero.zero27

zero.210

zero.300

zero.700

: 2

of two