Project #20256 - Management Science Help

1) Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality. True or False?

2) Validation of a simulation model occurs when the true steady state average results have been reached. True or False?

3) In linear programming problems, multiple optimal solutions occur:

  a) when constraint lines are parallel to each other

  b) when the objective function is parallel to a constraint line

  c) every posible solution point violates at least one constraint

  d) when the dual price for a particular resource is very small

4) Using the minimax regret criterion to make a decision you:

  a) construct a table of regrets. Look at the MAXIMUM regret, for each decision. Select the decision with the smallest MAXIMUM regret.

  b) construct a table of regrets. Look at the MINIMUM regret, for each decision. Select the decision with the smalleest MINIMUM regret.

5) In a break-even model, if all of the costs are held constant, how does an increase in price affect the model?

   a) Breakeven point decreases

   b) Breakeven point increases

   c) Breakeven point does not change

   d) The revenue per unit goes down

6) Using the maximin criterion to make a decision, you:

   a) construct a table of regrets - look at the maximum regret for each decision and select the decision with the smallest maximum regret

   b) Look at the worst payoff for each possible decision and select the decision with the largest worst payoff

   c) Look at the best payoff for each possible decision and select the decision with the largest best payoff

  

Subject Mathematics
Due By (Pacific Time) 12/21/2013 12:00 am
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