10/12/22, 5:01 PM MARIA ARABELLA SOFIA LAURON PAYOD's Quiz History: Mastery Test 1

Mastery Test 1 Results for MARIA ARABELLA SOFIA

LAURON PAYOD
Score for this quiz:
36 out of 60
*
Submitted Sep 19 at 4:29pm
This attempt took 89 minutes.

1
/ 1 pts
Question 1

Models can help us analyze a problem and sell a decision to those who
must implement it.

Correct!  
True

 
False

1
/ 1 pts
Question 2

A mathematical model shows the relationship between quantifiable and

non-quantifiable information.

 
True

Correct!  
False

1
/ 1 pts
Question 3

One problem in using a quantitative model is that the necessary data

maybe unavailable.

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Correct!  
True

 
False

1
/ 1 pts
Question 4

A series of steps or procedures that are repeated is known as an

algorithm.

Correct!  
True

 
False

1
/ 1 pts
Question 5

A model is a representation of a situation.

Correct!  
True

 
False

1
/ 1 pts
Question 6

Decision variables may also be called parameters.

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True

Correct!  
False

1
/ 1 pts
Question 7

Managers do not need to be familiar with the limitations, assumptions,

and/or specific applicability of the quantitative analysis technique to use it
for accurate decision making.

 
True

Correct!  
False

1
/ 1 pts
Question 8

When a problem is difficult to quantify, it may be necessary to develop

unspecific objectives.

 
True

Correct!  
False

1
/ 1 pts
Question 9

The difference in decision making under risk and decision making under
uncertainty is that under risk, we think we know the probabilities of the
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states of nature, while under uncertainty we do not know the probabilities

of the states of nature.

Correct!  
True

 
False

1
/ 1 pts
Question 10

Expected monetary value (EMV) is the payoff you should expect to occur
when you choose a particular alternative.

 
True

Correct!  
False

1
/ 1 pts
Question 11

The decision maker can control states of nature.

 
True

Correct!  
False

1
/ 1 pts
Question 12

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To determine the effect of input changes on decision results, we should

perform a sensitivity analysis.

Correct!  
True

 
False

0
/ 1 pts
Question 13

The maximin decision criterion is used by pessimistic decision makers

and minimizes the maximum outcome for every alternative.

ou Answered  
True

orrect Answer  
False

1
/ 1 pts
Question 14

The several criteria (maximax, maximin, equally likely, criterion of realism,

minimax regret) used for decision making under uncertainty may lead to
the choice of different alternatives.

Correct!  
True

 
False

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1
/ 1 pts
Question 15

A decision table is sometimes called a payout table.

Correct!  
True

 
False

2
/ 2 pts
Question 16

All of the following are interchangeable except

Correct!  
Research Management

 
Management Science

 
Operations Research

 
Quantitative Analysis

0
/ 2 pts
Question 17

The following is an opportunity-loss table.

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The probabilities for the states of nature A, B, and C are 0.3, 0.5, and 0.2,
respectively. If a person were to use the expected opportunity loss
criterion, what decision would be made?

 
State of Nature C

 
Alternative 2

 
State of Nature B

orrect Answer  
Alternative 3

ou Answered  
Alternative 1

2
/ 2 pts
Question 18

A set of logical and mathematical operations performed in a specific

sequence is called a(n)

 
Diagnostic Analysis

 
Objective

Correct!  
Algorithm

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Complete Enumeration

0
/ 2 pts
Question 19

The following is an opportunity loss table.

What decision should be made based on the minimax regret criterion?

orrect Answer  
Alternative 2

ou Answered  
Alternative 1

 
State of Nature C

 
Alternative 3

0
/ 2 pts
Question 20

Which of the following is true about the expected value of perfect

information?

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orrect Answer  
It is calculated as expected value with perfect information minus maximum
EMV.

 
It is the amount you would pay for any sample study.

ou Answered  
It is calculated as EMV minus EOL.

 
It is the amount charged for marketing research.

2
/ 2 pts
Question 21

The condition of improper data yielding misleading results is referred to as

 
break-even point.

 
postoptimality.

Correct!  
garbage in, garbage out.

 
uncontrollable variable

2
/ 2 pts
Question 22

The break-even point of a simple profit model represents a(n)

 
constant

 
uncontrollable variable.

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Correct!  
decision variable.

 
solution

 
parameter

2
/ 2 pts
Question 23

An abstract presentation of reality or of a real-life situation is called 

 
Objective

 
Diagram

 
Algorithm

 
Analysis

Correct!  
Model

2
/ 2 pts
Question 24

Expressing profits through the relationship among unit price, fixed costs,
and variable costs is an example of

 
a postoptimality relationship.

Correct!  
a quantitative analysis model.

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a parameter specification model.

 
a sensitivity analysis model.

2
/ 2 pts
Question 25

Which of the following is a picture, drawing, or chart of reality?

 
Mathematical Model

Correct!  
Schematic Model

 
Physical Model

 
Scale Model

 
Abstract Model

2
/ 2 pts
Question 26

Dr. Mac, a surgeon, must decide what mode of treatment to use on Mr.
Samuels. There are three modes of treatment: Mode A, B, and C; and
three possible states of nature: 1. Treatment succeeds and patient leads a
normal life, 2. Patient survives treatment but is permanently disabled, and
3. Patient fails to survive treatment. Dr. Mac has prepared the decision
table below. What mode of treatment maximizes the expected value?

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Correct!  
Mode C

 
Normal Life

 
All three treatments are equally desirable.

 
Mode B

 
Mode A

0
/ 2 pts
Question 27

Which of the following is not a characteristic of a good decision?

 
considers all possible alternatives

ou Answered  
considers all available data

 
employs appropriate quantitative techniques

 
based on logic

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orrect Answer  
always results in a favorable outcome

2
/ 2 pts
Question 28

Models that do not involve risk or chance are

 
postoptimality models

 
probabilistic models

 
management science models

Correct!  
deterministic models

2
/ 2 pts
Question 29

A measurable quantity that may vary, or is subject to change, and can be

controlled is known as a(n)

 
solution

 
parameter

 
input

 
algorithm

Correct!  
decision variable

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2
/ 2 pts
Question 30

An abstract presentation of reality or of a real-life situation is called 

Correct!  
Model

 
Algorithm

 
Objective

 
Analysis

 
Diagram

Unanswered Not yet graded

/ 15 pts
Question 31

Given the table below, use the various criteria indicated to determine your
decision.  Support your answer with detailed solution  and the value
associated in each decision made. Upload solutions & answers here. 
(3pts each)

Alternatives State of Demand

  High Moderate Low Failure

Overhaul
Php 30,000 Php 20,000 - Php 15,000 -Php 30,000
 

Expand                     

           15,000           -20,000
  50,000 -10,000

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Buy                       10,000                     -50,000

60,000 -10,000
 

Do Nothing                         

             1,000             -5,000
  3,000 -1,000

1. Optimistic Criterion:

              Decision:

              Optimum Value:

2. Pessimistic Criterion:

               Decision:

               Optimum Value:

3. Minimax Regret Criterion:

               Decision :

               Optimum Value:

4. Laplace Criterion:

                Decision:

                Optimum Value:

5. Hurwicz Criterion with α =.60

                 Decision:

                 Optimum Value:

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Quiz Score:
36 out of 60

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12/7/22, 5:06 PM MARIA ARABELLA SOFIA LAURON PAYOD's Quiz History: PREFINAL EXAMINATION 2022-2023

PREFINAL EXAMINATION 2022-2023 Results for

MARIA ARABELLA SOFIA LAURON PAYOD
Score for this quiz:
62 out of 70
Submitted Dec 3 at 9:03pm
This attempt took 63 minutes.

2
/ 2 pts
Question 1

Learning curves typically follow an exponential distribution.

 
True

Correct!  
False

2
/ 2 pts
Question 2

The solution to a linear programming problem must always lie on a

constraint.

Correct!  
True

 
False

2
/ 2 pts
Question 3

An infeasible solution is characterized as one where at least one

constraint is violated.
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Correct!  
True

 
False

2
/ 2 pts
Question 4

The term slack is associated with ≥ constraints. 

 
True

Correct!  
False

2
/ 2 pts
Question 5

Learning growth is based on the premise that people and organizations

become better at their tasks as the tasks are repeated

 
True

Correct!  
False

0
/ 2 pts
Question 6

The graphical method is restricted to problems having no less than three

variables.

ou Answered  
True

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orrect Answer  
False

2
/ 2 pts
Question 7

When two or more constraints conflict with one another, we have a

condition called unboundedness.

 
True

Correct!  
False

2
/ 2 pts
Question 8

All variables in a linear programming problem must take on non-negative

values.

Correct!  
True

 
False

2
/ 2 pts
Question 9

An LP formulation typically requires finding the maximum value of an

objective while simultaneously maximizing usage of the resource
constraints.

 
True

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Correct!  
False

0
/ 2 pts
Question 10

An inequality relationship may be converted into equality by addition of a

slack variable.

ou Answered  
True

orrect Answer  
False

0
/ 2 pts
Question 11

There are only three types of constraints in a linear programming problem,

and they are identified by an equality or inequality.

ou Answered  
True

orrect Answer  
False

2
/ 2 pts
Question 12

One of the assumptions of LP is "proportionality."

Correct!  
True

 
False

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2
/ 2 pts
Question 13

A redundant constraint may be ignored in a linear programming problem

without affecting the optimum solution

Correct!  
True

 
False

2
/ 2 pts
Question 14

A constraint may be expressed as an equation or an inequality.

Correct!  
True

 
False

2
/ 2 pts
Question 15

In the term linear programming, the word programming comes from the
phrase "computer programming."

 
True

Correct!  
False

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2
/ 2 pts
Question 16

Consider the following linear programming problem:

Which of the following points (X,Y) is not a feasible corner point?

 
(0, 60)

 
(105, 0)

 
(100, 10)

Correct!  
(120, 0)

2
/ 2 pts
Question 17

The difference between the left-hand side and right-hand side of a less-
than-or-equal-to constraint is referred to as

Correct!  
slack.

 
shadow price

 
surplus.

 
constraint

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2
/ 2 pts
Question 18

In a maximization problem, when one or more of the solution variables

and the profit can be made infinitely large without violating any
constraints, the linear program has

Correct!  
an unbounded solution.

 
a redundant constraint.

 
an infeasible solution.

 
alternate optimal solutions.

2
/ 2 pts
Question 19

If the addition of a constraint to a linear programming problem does not

change the solution, the constraint is said to be

Correct!  
redundant.

 
non-negative.

 
unbounded.

 
bounded

0
/ 2 pts
Question 20

The difference between the left-hand side and right-hand side of a

greater-than-or-equal-to constraint is referred to as
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constraint.

 
shadow price.

orrect Answer  
surplus.

ou Answered  
slack.

2
/ 2 pts
Question 21

Consider the following linear programming problem:

Which of the following points (X,Y) is in the feasible region?

 
(105, 5)

Correct!  
(100, 10)

 
(30, 60)

 
(0, 210)

2
/ 2 pts
Question 22

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The presence of one or more constraints that do not affect the feasible
solution region is:

 
a constraint

Correct!  
redundancy.

 
unboundedness.

 
inequality.

2
/ 2 pts
Question 23

In order for a linear programming problem to have a unique solution, the

solution must exist

Correct!  
at the intersection of two or more constraints.

 
at the intersection of the objective function and a constraint.

 
at the intersection of the non-negativity constraints

 
at the intersection of a non-negativity constraint and a resource constraint.

2
/ 2 pts
Question 24

consider that a manager has to assign three personnel to work on 4

projects. The costs (in thousands pesos) charged by each personnel are
as follows:

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  PROJECT

PERSONNEL
1 2 3 4

A 18 16 20 22

B 20 18 17 21

C 16 17 20 18

D 26 23 22 20

Determine the opportunity cost of assigning each team to each project

(row opportunity cost), and the optimum assignment solution. Personnel A
should be assigned to:

 
Project 3

Correct!  
Project 2

 
Project 1

 
Project 4

2
/ 2 pts
Question 25

consider that a manager has to assign three personnel to work on 4

projects. The costs (in thousands pesos) charged by each personnel are
as follows:

PROJECT
 

PERSONNEL 1 2 3 4

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A 18 16 20 22

B 20 18 17 21

C 16 17 20 18

D 26 23 22 20

Determine the opportunity cost of assigning each team to each project

(row opportunity cost), and the optimum assignment solution.

Personnel D should be assigned to: 

 
Project 2

 
Project 3

 
Project 1

Correct!  
Project 4

2
/ 2 pts
Question 26

Two advertising media are being considered for promotion of a product. Radio
ads cost $400 each, while newspaper ads cost $600 each. The total budget is
$7,200 per week. The total number of ads should be at least 15, with at least 2 of
each type. Each newspaper ad reaches 6,000 people, while each radio ad reaches
2,000 people. The company wishes to reach as many people as possible while
meeting all the constraints stated. If R is the number of radio ads and N is the
number of newspaper ads, which of the following is not a corner point (R, N)?

Correct!  
(2, 15)

 
(9, 6)

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(13, 2)

 
None of these

2
/ 2 pts
Question 27

consider that a manager has to assign three personnel to work on 4

projects. The costs (in thousands pesos) charged by each personnel are
as follows:

PROJECT
 

PERSONNEL 1 2 3 4

A 18 16 20 22

B 20 18 17 21

C 16 17 20 18

D 26 23 22 20

Determine the opportunity cost of assigning each team to each project

(row opportunity cost), and the optimum assignment solution.

The total cost of the optimum assignment is:   65      B.   67                C.
68                  D.  69

 
68

 
67

Correct!  
69

 
65

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2
/ 2 pts
Question 28

Two advertising media are being considered for promotion of a product.

Radio ads cost $400 each, while newspaper ads cost $600 each. The
total budget is $7,200 per week. The total number of ads should be at
least 15, with at least 2 of each type. Each newspaper ad reaches 6,000
people, while each radio ad reaches 2,000 people. The company wishes
to reach as many people as possible while meeting all the constraints
stated. If R is the number of radio ads and N is the number of newspaper
ads, which of the following constraints is wrongly stated?

 
R + N ≥ 15

 
D. N≥ 2

Correct!  
400R + 7200N = 7200

 
R ≥ 2

2
/ 2 pts
Question 29

Consider the following linear programming problem:

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This is a special case of a linear programming problem in which

Correct!  
there is no feasible solution.

 
this cannot be solved graphically.

 
there is a redundant constraint.

 
there are multiple optimal solutions.

2
/ 2 pts
Question 30

Two models of a product – Regular (X) and Deluxe (Y) – are produced by
a company. A linear programming model is used to determine the
production schedule. The formulation is as follows:

Maximize profit = 50X + 60 Y

Subject to:            8X + 10Y ≤ 800 (labor hours)

                             X + Y ≤ 120 (total units demanded)

                            4X + 5Y ≤ 500 (raw materials)

                            X, Y ≥ 0

The optimal solution is X = 100 Y = 0. How many units of the raw

materials would be used to produce this number of units?

Correct!  
400

 
200

 
500

 
120

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2
/ 2 pts
Question 31

consider that a manager has to assign three personnel to work on 4

projects. The costs (in thousands pesos) charged by each personnel are
as follows:

PROJECT
 

PERSONNEL
1 2 3 4

A 18 16 20 22

B 20 18 17 21

C 16 17 20 18

D 26 23 22 20

Determine the opportunity cost of assigning each team to each project

(row opportunity cost), and the optimum assignment solution.

Personnel B should be assigned to: 

 
Project 4

 
Project 1

 
Project 2

Correct!  
Project 3

2
/ 2 pts
Question 32

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The mathematical theory behind linear programming states that an

optimal solution to any problem will lie at a(n) ________ of the feasible
region.

 
maximum point or minimum point

Correct!  
corner point or extreme point

 
interior point or center

 
interior point or extreme point

2
/ 2 pts
Question 33

Consider the following linear programming problem:

The feasible corner points are (48,84), (0,120), (0,0), (90,0). What is the
maximum possible value for the objective function?

 
1032

 
360

Correct!  
1200

 
1600

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2
/ 2 pts
Question 34

Which of the following is not a part of every linear programming problem

formulation?

Correct!  
a redundant constraint

 
maximization or minimization of a linear function

 
non-negativity constraints

 
a set of constraints

 
an objective function

2
/ 2 pts
Question 35

When appropriate, the optimal solution to a maximization linear

programming problem can be found by graphing the feasible region and

 
All of the above

Correct!  
finding the profit at every corner point of the feasible region to see which
one gives the highest value.

 
moving the isoprofit lines towards the origin in a parallel fashion until the
last point in the feasible region is encountered.

 
locating the point that is highest on the graph.

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Quiz Score:
62 out of 70

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