SAINT MBA550 FINAL EXAM

Question 1. 1. The production manager for the Coory soft drink company is considering the production of two kinds of soft drinks: regular (R) and diet (D). Two of her limited resources are production time (8 hours = 480 minutes per day) and syrup (1 of the 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. What is the objective function? (Points : 5)
MAX $2R + $4D
MAX $3R + $2D
MAX $3D + $2R
MAX $4D + $2R
Question 2. 2. Project management differs from management of more traditional day-to-day activities because: (Points : 5)
it has limited time frame.
it has an unlimited budget.
it is more expensive.
it involves more of the workforce.
Question 3. 3. The maximum number of constraints that could define the feasible solution space is _____: (Points : 5)
2
3
4
Unlimited
Question 4. 4. A plant manager is attempting to determine the production schedule of various products to maximize profit. Assume that a machine hour constraint is binding. If the original amount of machine hours available is 200 minutes., and the range of feasibility is from 130 minutes to 300 minutes, providing two additional machine hours will result in: (Points : 5)
the same product mix, different total profit.
a different product mix, same total profit as before.
the same product mix, same total profit.
a different product mix, different total profit.
Question 5. 5. The $75 per credit hour course fee tacked on to all the MBA classes has generated a windfall of $56,250 in its first semester. "Now we just need to make sure we spend it all," the Assistant Dean cackled. She charged the Graduate Curriculum Committee with generating a shopping list before their next meeting. Four months later, the chairman of the committee distributed the following. As the professor for the quantitative modeling course, he tended to think in terms of decision variables, so he added the left-most column for ease of use. 
Decision 
Variable	Item	Cost	Note
A	iPads for everybody	$750/unit	Must get a cover if these are purchased
B	iPad covers with MBA logo	$25/unit	Not needed unless we buy iPads
C	Speaker series	$15,000	Can't afford both this and the iPads
D	Subscriptions to the Wall Street Journal	$10/unit	Don't need if we have the electronic version
E	Subscriptions to the electronic version of the Wall Street Journal	$5/unit	Worthless without the iPads

Which of the constraints best describes the relationship between the iPads for everyone and the speaker series? (Points: 5)
A - C = 1
A + C = 1
A - C = 0
A + C = 2
Question 6. 6. In a ________ integer model, all decision variables have integer solution values. (Points : 5)
Total
0-1
Mixed
all of the above
Question 7. 7. If a maximization linear programming problem consists of all less-than-or-equal-to constraints with all positive coefficients and the objective function consists of all positive objective function coefficients, then rounding down the linear programming optimal solution values of the decision variables will ________ result in a feasible solution to the integer linear programming problem. (Points : 5)
Always
Sometimes
Optimally
Never
Question 8. 8. When systematically formulating a linear program, the first step is to: (Points : 5)
construct the objective function
formulate the constraints
identify the decision variables.
identify the parameter values.
Question 9. 9. The critical path is the ________ path through the network. (Points : 5)
Longest
Shortest
Straightest
most expensive
Question 10. 10. In a 0-1 integer programming model, if the constraint x1 - x2 = 0, it means when project 2 is selected, project 1 ________ be selected. (Points : 5)
must always
can sometimes
can never
is already
Question 11. 11. Multiple optimum solutions can occur when the objective function is _______ a constraint line. (Points : 5)
unequal to
equal to
linear to
parallel to
Question 12. 12. A shadow price reflects which of the following in a maximization problem? (Points : 5)
The marginal gain in the objective that would be realized by adding one unit of a resource
The marginal gain in the objective that would be realized by subtracting one unit of a resource
The marginal cost of adding additional resources
The marginal gain of selling one more unit
Question 13. 13. In a ________ integer model, some solution values for decision variables are integers and others can be non-integer. (Points : 5)
Total
0-1
Mixed
all of the above
Question 14. 14. For most graphs, the constraint equations which intersect to form a solution point must be solved simultaneously: (Points : 5)
because the solution coordinates from the graph cannot be visually read with high precision.
in order to confirm the mathematically determined coordinates.
in order to determine all of the optimal point solution.
because the slope b and the y-intercept a are not always integers.
Question 15. 15. In order to transform a ">=" constraint into an equality ("=") in a linear programming model: (Points : 5)
add a slack variable.
add a surplus variable.
subtract a surplus variable
subtract a surplus variable and add a slack variable.
Question 16. 16. Cully Turniture buys two 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 $75,000 to invest in shelves this week, and the warehouse has 18,000 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? (Points : 5)
90 B + 100 M = 18000
90 B + 100 M = 18000
100 B + 90 M = 18000
500 B + 300 M = 18000
Question 17. 17. ________ is used to analyze changes in model parameters. (Points : 5)
Optimal solution
Feasible solution
Sensitivity analysis
A slack variable
Question 18. 18. Which of the following could be a linear programming objective function? (Points : 5)
Z = 1A + 2BC + 3D
Z = 1A + 2B + 3C + 4D
Z = 1A + 2B / C + 3D
Z = 1A + 2B2 + 3D
Question 19. 19. The production manager for the Softy soft drink company is considering the production of two kinds of soft drinks: regular and diet. Two of her resources are production time (8 hours = 480 minutes per day) and syrup (1 of the 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. What is the time constraint? (Points : 5)
2R + 4D = 480
2D + 4R = 480
2R + 3D = 480
3R + 2D = 480
Question 20. 20. If t is the expected completion time for a given activity, then _____. (Points : 5)
LF = LS - t
EF = ES - t
EF = ES + t
EF = LS - t