# Question 1(2 points) .0/msohtmlclip1/01/clip_image001.gif alt=Question 1 unsaved> Given that Z

Question

1(2 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 1 unsaved”>

Given that Z is a standard normal random variable, P(-1.0.0/msohtmlclip1/01/clip_image002.gif” alt=”equation”>Z.0/msohtmlclip1/01/clip_image002.gif” alt=”equation”>1.5) is

Question 1 options:

0.8413

0.0919

0.9332

0.7745

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Question 2(2 points)

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There are two types of random variables, they are

Question 2 options:

real

and unreal

exhaustive

and mutually exclusive

complementary

and cumulative

discrete

and continuous

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Question 3(2 points)

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In a normal distribution, changing the standard deviation:

Question 3 options:

makes

the curve more dense

splits

the distribution to two curves

shifts

the curve left or right

makes

the curve more or less spread out

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Question 4(2 points)

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If Z is a standard normal random variable, the

area between z = 0.0 and z =1.30 is 0.4032,

while the area between z = 0.0 and z = 1.50

is 0.4332. What is the area between z = -1.30 and z =

1.50?

Question 4 options:

0.8364

0.0968

0.0300

0.0668

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Question 5(2 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 5 unsaved”>

Given that the random variable X is normally

distributed with a mean of 80 and a standard deviation of 10, P(85.0/msohtmlclip1/01/clip_image002.gif” alt=”equation”>X.0/msohtmlclip1/01/clip_image002.gif” alt=”equation”>90) is

Question 5 options:

0.3413

0.1915

0.1498

0.5328

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Question 6(2 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 6 unsaved”>

Which of the following statements are true?

Question 6 options:

Probabilities

can either be positive or negative.

Probabilities

must be nonnegative.

Probabilities

can be any positive value.

Probabilities

must be negative.

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Question 7(2 points)

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The standard deviation.0/msohtmlclip1/01/clip_image003.gif” alt=”equation”>of a probability distribution is a:

Question 7 options:

measure

of relative likelihood

measure

of variability of the distribution

measure

of central location

measure

of skewness of the distribution

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Question 8(2 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 8 unsaved”>

Given that Z is a standard normal variable, the

value z for which P(Z.0/msohtmlclip1/01/clip_image002.gif” alt=”equation”>z) = 0.2580 is

Question 8 options:

0.242

-0.65

0.758

0.70

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Question 9(3 points)

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Assume that a company makes wooden picture frames. Frame style 1

takes 2 hours of skilled labor and 3 linear feet of wood. If the company had 40

hours of skilled labor and 48 linear feet of wood that can be used each week,

what is the largest quantity of this item that the company will be able to

produce given these resource constraints?

Question 9 options:

19

13

16

22

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Question 10(2 points)

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Related to sensitivity analysis in linear programming, when the

profit increases with a unit increase in a resource, this change in profit is

referred to as the:

Question 10 options:

sensitivity

price

add-in

price

additional

profit

shadow

price

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Question 11(3 points)

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Consider the following

linear programming problem:

Minimize 5×1+ 6×2

Subject to

x1+ 2×2 > 12

3×1 + 2×2> 24

3×1 + x2> 15

x1, x2 > 0

What are the optimal

decision variables values?

Question 11 options:

(5,4)

(6,3)

(5,3)

(4,5)

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Question 12(3 points)

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One of the things that can go wrong with a linear programming

problem is that it may not be possible to find a set of points that satisfy all

of the constraints in the problem. This type of problem is said to be:

Question 12 options:

redundant

unbounded

inconsistent

infeasible

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Question 13(3 points)

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In using a spreadsheet to solve linear programming problems, the

changing cells represent the:

Question 13 options:

decision

variables

constraints

value

of the objective function

total

cost of the model

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Question 14(3 points)

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When formulating an LP spreadsheet model, the changing cells

play the role of the decision variables, and the values in these cells can be

changed to optimize the objective function.

Question 14 options:

True

False

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Question 15(3 points)

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When formulating an LP

spreadsheet model, target objective cell that contains the value of the

objective function.

Question 15 options:

True

False

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Question 16(3 points)

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Sensitivity analysis is

to see how, or if the optimal solution to an LP problem changes as we change

one or more model inputs.

Question 16 options:

True

False

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Question 17(3 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 17 unsaved”>

S&V Industries manufactures book cases. Different sizes of

cases are kept in inventory. The company has 80 man-hours and 36 pounds of wood

available each day. 2 pounds of wood are used to produce case x1while

6 pounds of woods are used for case x2. Given that the optimal

solution is x1 = 6 and x2 = 3.2, how much wood

will be unused if the optimal number of bookcases are produced?

Question 17 options:

none

4.8

pounds

8

pounds

cannot

be determined with the information given.

Do

Not Know

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Question 18(3 points)

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In a production process, the diameter measures of manufactured

o-ring gaskets are known to be normally distributed with a mean diameter of 80

mm and a standard deviation of 3 mm. Any o-ring measuring 75 mm or less in

diameter is defective and cannot be used. Using Excel, determine the percent or

proportion of defective o-rings that will be produced.

(Enter the value in either decimal or percent notation. If using decimal

notation, enter the value using 4 places to the right of the decimal. If using

percent notation, go two places to the right of the decimal. For example,

decimal notation might be 0.0768 and percent notation would be 7.68. Do not

enter words or symbols)

Question 18 options:

.0/msohtmlclip1/01/clip_image004.gif” alt=”Spell check “>

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Question 19(3 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 19 unsaved”>

Use the data below to

determine the relationship between x and y. Choose the best description of the

relationship below.

x y9.5 370 10.0 360 10.0 400 10.0 400 10.3 420 9.1 350 8.6 310

Question 19 options:

Positive Linear

Negative Linear

No Relationship Exists

Do Not Know

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Question 20(3 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 20 unsaved”>

Given the following linear programming model:

minimize C = 5×1 + 4×2

subject to

6×1 + 10×2.0/msohtmlclip1/01/clip_image005.gif” alt=”equation”>300

10×1+ 4×2.0/msohtmlclip1/01/clip_image005.gif” alt=”equation”>200

x1, x2.0/msohtmlclip1/01/clip_image005.gif” alt=”equation”>0

Using the Excel Solver tool, its solution as correctly rounded is:

Question 20 options:

x1 =

20, x2 = 0

x1 =

10.53, x2 = 23.68

x1 =

56, x2 = 0

x1 =

1, x2 = 30

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Question 21(3 points)

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Many airline flights are late for arrival. The histogram below

displays the number of minutes a sample of schedules flights was late. The

number above each bar is the frequency. For example, the second interval

reveals that 5 flights were at least 10 minutes late but less than 20 minutes

late.What percent of flights were at least 10 minutes late but less than 20

minutes late?(Enter your value in percent notation. For example, enter the

value 30% as either 30 or 30%. Do not enter words, spaces, decimal point, or

other marks or symbols)

.0/msohtmlclip1/01/clip_image006.jpg” alt=”https://go.view.usg.edu/content/enforced/957070-WMBA6040-Quant-Summer2015-Wang-C56/RspQ-Exam%20S09/histo1.jpg?_&d2lSessionVal=ItVcFJZYRZ3mk8iNh9dUSdR55″>

Question 21 options:

.0/msohtmlclip1/01/clip_image004.gif” alt=”Spell check “>

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Question 22(3 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 22 unsaved”>

Karim’s Oak Furniture Company manufactures oak tables and

chairs. To manufacture the chairs and tables, the wood must be cut, glued, and

finished. The labor requirements for the three steps are in the table below, as

well as the profit for each table and chair. The available time for the labor

requirements are 40 hours for cutting, 40 hours for gluing, and 40 hours for

finishing.Karim wants to determine the number of tables and chairs to

manufacture in order to maximize profit.What are the decision variables?

.0/msohtmlclip1/01/clip_image007.jpg” alt=”https://go.view.usg.edu/content/enforced/957070-WMBA6040-Quant-Summer2015-Wang-C56/RspQ-Exam%20S09/karim_table_p_1_a.jpg?_&d2lSessionVal=ItVcFJZYRZ3mk8iNh9dUSdR55″>

Question 22 options:

x1 =

the number of hours to make a table,x2 = the number of hours

to make a chair

x1 =

the number of hours required to cut, x2 = the number of hours

required to glue, X3 = the number of hours required to finish

x1 =

the number of tables, x2 = the number of chairs

x1=

the profit per table, x2 = the profit per chair

Do

Not Know

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Question 23(3 points)

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For the data set below, use Excel to determine the slope, the

rate of change of y for a one-unit change in x.

.0/msohtmlclip1/01/clip_image008.gif” alt=”https://go.view.usg.edu/content/enforced/957070-WMBA6040-Quant-Summer2015-Wang-C56/RspQ-Exam%20S09/regr_data_table.gif?_&d2lSessionVal=ItVcFJZYRZ3mk8iNh9dUSdR55″>

Question 23 options:

.0/msohtmlclip1/01/clip_image004.gif” alt=”Spell check “>

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Question 24(3 points)

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A variable is classified as ordinal if:

Question 24 options:

there

is a natural ordering of categories

there

is no natural ordering of categories

the

data arise from continuous measurements

we

track the variable through a period of time

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Question 25(3 points)

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Gender and State are examples of which type of data?

Question 25 options:

Discrete

data

Continuous

data

Categorical

data

Ordinal

data

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Question 26(3 points)

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The correlation coefficient is always a value between

Question 26 options:

–

1 and 0

0

and +1

0.0

and 100

-1

and +1

-1

and 100

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Question 27(3 points)

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Which of the following are the three most common measures of central

location?

Question 27 options:

Mean,

median, and mode

Mean,

variance, and standard deviation

Mean,

median, and variance

Mean,

median, and standard deviation

First

quartile, second quartile, and third quartile

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Question 28(3 points)

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Which of the following are considered measures of association?

Question 28 options:

Mean

and variance

Variance

and correlation

Correlation

and covariance

Covariance

and variance

First

quartile and third quartile

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Question 29(3 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 29 unsaved”>

The median can also be described as:

Question 29 options:

the

middle observation when the data values are arranged in ascending order

the

second quartile

the

50th percentile

All

of the above

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Question 30(2 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 30 unsaved”>

In regression analysis, the variables used to help explain or

predict the response variable are called the

Question 30 options:

independent

variables

dependent

variables

regression

variables

statistical

variables

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Question 31(2 points)

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In regression analysis, if there are several explanatory

variables, it is called:

Question 31 options:

simple

regression

multiple

regression

compound

regression

composite

regression

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Question 32(2 points)

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In regression analysis, the variable we are trying to explain or

predict is called the

Question 32 options:

independent

variable

dependent

variable

regression

variable

statistical

variable

residual

variable

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Question 33(2 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 33 unsaved”>

The coefficient of determination (.0/msohtmlclip1/01/clip_image009.gif” alt=”https://go.view.usg.edu/content/enforced/957070-WMBA6040-Quant-Summer2015-Wang-C56/RspQ-Exam%20S09/eq_821afc.gif?_&d2lSessionVal=ItVcFJZYRZ3mk8iNh9dUSdR55″>) ranges from

Question 33 options:

-1

to +1

-2

to +2

-1

to 0

0

to +1

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Question 34(2 points)

.0/msohtmlclip1/01/clip_image001.gif” alt=”Question 34 unsaved”>

The coefficient of determination (.0/msohtmlclip1/01/clip_image009.gif” alt=”https://go.view.usg.edu/content/enforced/957070-WMBA6040-Quant-Summer2015-Wang-C56/RspQ-Exam%20S09/eq_821add.gif?_&d2lSessionVal=ItVcFJZYRZ3mk8iNh9dUSdR55″>) can be interpreted as

the fraction (or percent) of variation of the

Question 34 options:

explanatory

variable explained by the independent variable

explanatory

variable explained by the regression line

response

variable explained by the regression line

error

explained by the regression line

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Question 35(2 points)

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In a multiple regression analysis, there are 25 data points and

5 independent variables. If the sum of the squared differences between observed

and predicted values of y is 160, then standard error of estimate, denoted

by.0/msohtmlclip1/01/clip_image010.gif” alt=”https://go.view.usg.edu/content/enforced/957070-WMBA6040-Quant-Summer2015-Wang-C56/RspQ-Exam%20S09/eq_82185e.gif?_&d2lSessionVal=ItVcFJZYRZ3mk8iNh9dUSdR55″>will be:

Question 35 options:

2.530

3.464

2.902

5.657

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Question 36(2 points)

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Which of the following is not one of the

summary measures for forecast errors that is commonly used?

Question 36 options:

MAE

(mean absolute error)

MFE

(mean forecast error)

RMSE

(root mean square error)

MAPE

(mean absolute percentage error)

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Question 37(2 points)

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Wintersâ€™ model differs from Holtâ€™s model and simple exponential

smoothing in that it includes an index for:

Question 37 options:

cyclical

fluctuations

trend

residuals

seasonality

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Question 38(2 points)

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The forecast error is the difference between

Question 38 options:

the

average value and the expected value of the response variable

the

actual value and the forecast

the

explanatory variable value and the response variable value

this

periodâ€™s value and the next periodâ€™s value

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Question 39(2 points)

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Holtâ€™s model differs from simple exponential smoothing in that

it includes a term for:

Question 39 options:

residuals

cyclical

fluctations

seasonality

trend

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Question 40(2 points)

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When using exponential smoothing, a smoothing constant must be

used. The smoothing constant is a value that:

Question 40 options:

represents

the strength of the association between the forecasted and observed values

ranges

between 0 and 1

ranges

between â€“1 and +1

equals

the largest observed value in the series

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