QMB 3602 Exam #3 Study Material on Applied Mathematics Concepts

24 arcs

A minimum-cost flow problem has 6 supply nodes, 0 transshipment nodes, and 4 demand nodes. If each supply node can ship to every demand node, how many arcs will be included in the model?

Minimum-Cost Flow Problems.

The transportation problem is a special case of

Minimum-Cost Flow Problems.

The assignment problem is a special case of

All of the answer choices are true.

In a minimum-cost flow problem, which of the following is TRUE?

There is at least one supply node.

There is at least one demand node.

A feasible solution will exist if and only if total supply matches total demand.

The number of supply nodes can be different from the number of demand nodes.

All of the answer choices are true.

a transshipment node.

In a distribution network, a warehouse which takes in goods from a manufacturing site and ships goods to customers is represented by

Maximum Flow Problem

A firm is attempting to determine the total shipping capacity of its supply network, which links a single manufacturing plant to a single customer. What type of network optimization problem is this?

Shortest Path Problem

A travel agent is attempting to find the fastest combination of transportation options to allow a customer to travel from one city to another. What type of network optimization problem is this?

I, II, and III

Which of the following can be formulated as a linear programming problem?

I. Minimum-Cost Flow Problem

II. Maximum Flow Problem

III. Shortest Path Problem

I, II, and III

Shortest path problem formulation can be applied to which of the following?

I. Finding the combination of travel modes which minimizes distance travelled

II. Finding the combination of travel modes which minimizes travel time

III. Finding the combination of travel modes which minimizes travel cost

20 arcs ; (5x2) + (2x5)

A minimum-cost flow problem has 5 supply nodes, 2 transshipment nodes, and 5 demand nodes. Each supply node can ship to each transshipment node but cannot ship to any demand node or to any other supply node. Each transshipment node can ship to each demand node, but cannot ship to any supply node or to any other transshipment node. How many arcs will be included in the model?

False

True/False

A minimum-cost flow problem may be summarized by drawing a network only after writing out the full formulation.

True

True/False

The model for any minimum-cost flow problem is represented by a network with flow passing through it.

True

True/False

Network representations can be used for financial planning.

False

True/False

A network representation is a very specific conceptual aid and is only used in special cases.

False

True/False

All network optimization problems actually are special types of linear programming problems.

II only

If the slope of a graphed function never increases but sometimes decreases, the function displays which of the following?

I. Increasing marginal returns.

II. Decreasing marginal returns.

III. Either increasing or decreasing marginal returns may have this form

II only

Which of the following statements about nonlinear models is TRUE?

I. Nonlinear models are easier to understand than linear models.

II. Nonlinear models may more accurately represent a business situation.

III. Nonlinear models simplify the process of solving a maximization problem.

I only

Under what conditions will Excel's Nonlinear Solver be guaranteed to identify the global maximum of a profit function?

I. When profits demonstrate decreasing marginal returns

II. When profit demonstrate increasing marginal returns

III. When the profit function has two or fewer discontinuities

True

True/False

Linear programming assumes that the profit from each activity is proportional to the level of that activity.

True

True/False

If the slope of a graph never increases, but sometimes decreases as the level of the activity increases, then it is said to have decreasing marginal returns.

False

In problems where the objective is to minimize the total cost of the activities, an activity is said to have decreasing marginal returns if the slope of its cost graph never increases but sometimes decreases as the level of the activity increases.

True

True/False

Nonlinear programming problems with decreasing marginal returns are generally easier to solve then nonlinear programming problems with increasing marginal returns.

False

True/False

Having activities with decreasing marginal returns is the only way that the proportionality assumption can be violated.

False

True/False

Separable programming is applicable when there are increasing or decreasing marginal returns

People and community

Social responsibility is known as ______.

equitable

The overlap of people and profit results in

meeting the needs of the present without compromising the ability of future generations to meet theirs.

Sustainability is

Actions to keep prices low enough that the company's profits will not be viewed by the general public as obscenely high or exorbitant

A company's social responsibility strategy is typically comprised of all but which one of the following elements?

measuring a company's performance in the social responsibility arena and setting formal performance targets in three areas: "profit, people, and planet.

The term "triple bottom line" refers to

True

True/False

A triple bottom line measures a company's degree of social responsibility, its economic value and its environmental impact.

All of these choices are correct.

Data is raw, unprocessed ______.

numbers

text

pictures

video

All of these choices are correct.

information

Which of the following results from aggregating and summarizing measurements collected?

actionable insights

Which of the following is more likely to be the basis for recommendations in a research report?

Both insights and actionable insights

Which of the following is more likely to come from multiple variables versus a single variable?

Both insights and actionable insights

Which of the following are inductive or deductive conclusions?

actionable insights

Which of the following is novel, unusual, or unexpected—rather than familiar?

actionable insights

Which of the following is aligned with key business goals and strategic initiatives?

Make sure the audience understands how any insight/actionable insight was derived.

Which of the following is a researcher's responsibility in developing the research report?

Provide correct and sufficient support for each insight.

Which of the following is a researcher's responsibility in developing the research report?

data-centric

Which of the following report structures focus on sharing as much information as was discovered during the research?

audience-centric

Which of the following report structures focus on the audience's embrace of recommendations?

data-centric

Which of the following report planning approaches results in a report that is more statistical?

desired audience effect

When the researcher knows the reaction, she wants from a research report, she is focused on _____.

Report structure and content and style of the report

Which of the following is controlled by the desired audience effect?

Insights derived from the data

Which of the following is NOT controlled by the desired audience effect?

True

True/False

Data, both qualitative and quantitative, is raw and unprocessed.

True

True/False

Information is aggregated and organized data that is processed, summarized, tested, and visualized

True

True/False

Insights result from analyzing information.

False

True/False

Insights and information are the same.

True

True/False

The shift in emphasis from data-centric to audience-centric reporting means that the emphasis in planning the reports is no longer on the information

True

True/False

To report insights, researchers must combine their knowledge of business with their intimate knowledge of the research sponsor-manager gained while conducting the research.