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MAT540/MAT 540 WEEK 11 FINAL EXAM VERSION 1

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MAT 540 WEEK 11 Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality. Answer A cycle is an up and down movement in demand that repeats itself in less than 1 year. Answer Fractional relationships between variables are not permitted in the standard form of a linear program. Answer In a total integer model, all decision variables have integer solution values. Answer If we are solving a 0-1 integer programming problem, the constraint x1 = x2 is a conditional constraint. Answer In an unbalanced transportation model, supply does not equal demand and one set of constraints uses ≤ signs. Answer A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow. The conservative (maximin) strategy is: Answer In linear programming problems, multiple optimal solutions occur Answer Using the minimax regret criterion to make a decision, you Answer Using the maximin criterion to make a decision, you Answer The probability of observing x successes in a fixed number of trials is a problem related to Answer Steinmetz furniture buys 2 products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $100 and requires 100 cubic feet of storage space, and each medium shelf costs $50 and requires 80 cubic feet of storage space. The company has $25000 to invest in shelves this week, and the warehouse has 18000 cubic feet available for storage. Profit for each big shelf is $85 and for each medium shelf is $75. What is the storage space constraint? Answer Steinmetz furniture buys 2 products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $100 and requires 100 cubic feet of storage space, and each medium shelf costs $50 and requires 80 cubic feet of storage space. The company has $25000 to invest in shelves this week, and the warehouse has 18000 cubic feet available for storage. Profit for each big shelf is $85 and for each medium shelf is $75. In order to maximize profit, how many big shelves (B) and how many medium shelves (M) should be purchased? Answer The production manager for Beer etc. produces 2 kinds of beer: light (L) and dark (D). Two resources used to produce beer are malt and wheat. He can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week respectively. Each bottle of light beer requires 12 oz of malt and 4 oz of wheat, while a bottle of dark beer uses 8 oz of malt and 8 oz of wheat. Profits for light beer are $2 per bottle, and profits for dark beer are $1 per bottle. What is the optimal weekly profit? Answer The following is an Excel “Answer” and “Sensitivity” reports of a linear programming problem: The Answer Report: The Sensitivity Report: Which additional resources would you recommend to be increased? Answer 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 demands for gasoline types 1 and 2 are 11,000 and 14,000 gallons respectively. Write the supply constraint for component 1. Answer Compared to transportation LP problems, assignment problems are unique because Answer The Kirschner Company has a contract to produce garden hoses for a customer. Kirschner has 5 different machines that can produce this kind of hose. Write the constraint that indicates they have to use at least three of the five machines in their production. Answer The Kirschner Company has a contract to produce garden hoses for a customer. Kirschner has 5 different machines that can produce this kind of hose. Write a constraint to ensure that if machine 4 is used, machine 1 will not be used. Answe

MAT540/MAT 540 WEEK 11 FINAL EXAM VERSION 1

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