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
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