Question 1

Mathematically, a binary variable x can be represented as x > 2 and integer.

Accepted Answer

A) True 
 B)False

Question 2

Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 8 skilled workers, each of whom works9.25 hours per day. The finishing department has 5 workers, each of whom works a 6-hour shift per day. Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. The company anticipates selling at least twice as many Lava models as Graystone models.
Use the spreadsheet below for Stone Age Surfboards to answer the following question(s) using integer constraints on variables in the optimization models using the standard Solver. $\begin{array}{|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } \
\hline 1 & \text { Stone Age Surfboards } & & & \
\hline 2 & & & & \
\hline 3 & \text { Data } & & & \\hline 4 & & &{\text { Product }} & \
\hline 5 & \text { Department } & \text { Graystone } & \text { Lava } & \text { Limitations (hours) } \
\hline 6 & \text { Fabrication } & 2.5 & 4.2 & 74 \
\hline 7 & \text { Finishing } & 2 & 3.6 & 30 \\hline 8 & & & \
\hline 9 & \text { Profit/Unit } & \$ 40.00 & \$ 60.00 \
\hline 10 & & & \
\hline 11 & & & \
\hline 12 & \text { Model } & & \\hline 13 & & \text { Graystone } & \text { Lava } & \
\hline 14 & \text { Quantity Produced } & & & \text { Hours Used } \
\hline 15 & \text { Fabrication } & & & \
\hline 16 & \text { Finishing } & & & \\hline 17 & & & & \
\hline 18 & & & & \text { Excess Lava } \
\hline 19 & \text { Market Mixture } & & & \
\hline 20 & & & & \
\hline 21 & && & \text { Total Profit } \
\hline 22 & \text { Profit Contribution } & & & \
\hline
\end{array}$
-What is the total number of hours used for fabrication?

Accepted Answer

A)  39.6 
B)  34.4 
C)  29.2 
D)  24.8 
A)  39.6 
B)  34.4 
C)  29.2 
D)  24.8

Question 3

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver.
Coppell Services contracts with outsourcing partners to handle various customer service functions. Based on a study of call volumes provided by one of the firm's partners, the minimum number of staff needed for each hour of the day is as follows: $$\begin{array} { | l | l | } 
\hline \text { Hour } & \text { Minimum Staff Required } \
\hline 8 - 9 & 6 \
\hline 9 - 10 & 10 \
\hline 10 - 11 & 12 \
\hline 11 \text {-noon } & 10 \
\hline \text { noon-1 } & 8 \
\hline 1 - 2 & 16 \
\hline 2 - 3 & 15 \
\hline 3 - 4 & 20 \
\hline 4 - 5 & 15 \
\hline
\end{array}$$ Mr. Coppell hires 6 permanent employees and wants to staff the remaining requirements using part-time employees who work 4-hour shifts (four consecutive hours starting as early as 8 A.M. or as late as 1 P.M.).
-How many part-time employees are present in the 3-4 time slot?

Accepted Answer

A)  16 
B)  14 
C)  9 
D)  7 
A)  16 
B)  14 
C)  9 
D)  7

Question 4

is the parameter that specifies when the Solver algorithm will terminate an optimization process with integer constraints.

Accepted Answer

A)  Mutation Rate 
B)  Population Size 
C)  Integer Tolerance 
D)  Convergence 
A)  Mutation Rate 
B)  Population Size 
C)  Integer Tolerance 
D)  Convergence

Question 5

Formulate and solve optimization models with binary variables and logical constraints. LO2: Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver. Below is the spreadsheet for a plant location model: \(\begin{array}{|l|l|l|l|l|l|l|}
\hline &{\text { A }} & \text { B } & \text { C } & \text { D } & \text { E } & \text { F } \
\hline 1 & \begin{array}{l}
\text { Plant Location } \
\text { Model }
\end{array} & & & & & \
\hline 2 & & & & & & \
\hline 3 & \text { Data } & & & & & \\hline4&&&\text { Distribution Center }\\hline 5 & \text { Plant } & \text { Houston } & \text { San Jose } & \text { Jacksonville } & \text { Memphis } & \text { Capacity } \
\hline 6 & \text { Dallas } & \$ 11.80 & \$ 16.48 & \$ 12.35 & \$ 18.56 & 1,300 \
\hline 7 & \text { Atlanta } & \$ 8.54 & \$ 14.65 & \$ 9.58 & \$ 18.25 & 750 \
\hline 8 & \text { Detroit } & \$ 12.89 & \$ 10.78 & \$ 7.85 & \$ 10.28 & 1,400 \
\hline 9 & \text { Baltimore } & \$ 14.36 & \$ 18.95 & \$ 14.61 & \$ 6.64 & 1,300 \
\hline 10 & \text { Demand } & 350 & 450 & 800 & 1,700 & \\hline 11 & \
\hline 12 & \text { Model } \
\hline 13 & \
\hline 14 & \text { Amount Shipped }&&\text { Distribution Center } \\hline 15 & \text { Plant } & \text { Houston } & \text { San Jose } & \text { Jack sonville } & \text { Memphis } & \text { Total Shipped } \
\hline 16 & \text { Dallas } & & & & & \\hline 17 & \text { Atlanta } \
\hline 18 & \text { Detroit } \
\hline 19 & \text { Baltimore } \
\hline 20 & \text { Supply } \
\hline 21 & \
\hline 22 & \text { Total Cost } \
\hline 23 & \$ 0.00 \
\hline
\end{array}\)
-What is the total amount shipped by the Baltimore plant to the distribution centers?

Accepted Answer

A)  750 
B)  1,000 
C)  1,250 
D)  1,300 
A)  750 
B)  1,000 
C)  1,250 
D)  1,300

Question 6

Formulate and solve optimization models with binary variables and logical constraints.
Use the table below to answer the following question(s) by invoking the binary constraints on the variables using the standard Solver.
Below is the spreadsheet for a project selection model: \(\begin{array}{|l|l|l|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } & \text { F } & \text { G } \
\hline & \text { Project Selection } & & & & & & \
1 & \text { Model } & & & & & & \
\hline 2 & & & & & & & \\hline 3 & \text { Data } & & & & & & \
\hline 4 & & & & & & & \text { Available } \
 & & \text { Project 1 } & \text { Project 2 } & \text { Project 3 } & \text { Project 4 } & \text { Project 5 } & \text { Resources } \\hline 5 & \begin{array}{l}
\text { Expected Return } \
(\mathrm{NPV})
\end{array} & \$ 160,000 & \$ 200,000 & \$ 125,000 & \$ 150,000 & \$ 225,000 \\hline 6 & \begin{array}{l}
\text { Cash } \
\text { requirements }
\end{array} & \$ 45,000 & \$ 70,000 & \$ 28,000 & \$ 52,000 & \$ 65,000 &\$175,000\\hline 7 & \begin{array}{l}
\text { Personnel } \
\text { requirements }
\end{array} & 7 & 4 & 2 & 6 & 4 & 10 \
\hline 8 & & & & & & & \\hline 9 & \text { Model } \
\hline 10 & \
\hline 11 & \begin{array}{l}
\text { Project selection } \
\text { decisions }
\end{array} \\hline 12 & \text { Cash Used } \
\hline 13 & \text { Personnel Used } \
\hline 14 & \text { Return } \
\hline
\end{array}\)
-What is the total amount of personnel used for all five projects?

Accepted Answer

A)  23 
B)  17 
C)  10 
D)  4 
A)  23 
B)  17 
C)  10 
D)  4

Question 7

Formulate and solve optimization models with binary variables and logical constraints.
Use the table below to answer the following question(s) by invoking the binary constraints on the variables using the standard Solver.
Below is the spreadsheet for a project selection model: \(\begin{array}{|l|l|l|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } & \text { F } & \text { G } \
\hline & \text { Project Selection } & & & & & & \
1 & \text { Model } & & & & & & \
\hline 2 & & & & & & & \\hline 3 & \text { Data } & & & & & & \
\hline 4 & & & & & & & \text { Available } \
 & & \text { Project 1 } & \text { Project 2 } & \text { Project 3 } & \text { Project 4 } & \text { Project 5 } & \text { Resources } \\hline 5 & \begin{array}{l}
\text { Expected Return } \
(\mathrm{NPV})
\end{array} & \$ 160,000 & \$ 200,000 & \$ 125,000 & \$ 150,000 & \$ 225,000 \\hline 6 & \begin{array}{l}
\text { Cash } \
\text { requirements }
\end{array} & \$ 45,000 & \$ 70,000 & \$ 28,000 & \$ 52,000 & \$ 65,000 &\$175,000\\hline 7 & \begin{array}{l}
\text { Personnel } \
\text { requirements }
\end{array} & 7 & 4 & 2 & 6 & 4 & 10 \
\hline 8 & & & & & & & \\hline 9 & \text { Model } \
\hline 10 & \
\hline 11 & \begin{array}{l}
\text { Project selection } \
\text { decisions }
\end{array} \\hline 12 & \text { Cash Used } \
\hline 13 & \text { Personnel Used } \
\hline 14 & \text { Return } \
\hline
\end{array}\)
-What is the total return obtained from all five projects?

Accepted Answer

A)  $ 860,000 
B)  $ 550,000 
C)  $ 700,000 
D)  $ 395,000 
A)  $ 860,000 
B)  $ 550,000 
C)  $ 700,000 
D)  $ 395,000

Question 8

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver.
A company makes standard 130-inch-wide rolls of thin sheet metal and slits them into smaller rolls to meet customer orders for widths of 10, 14, and 25 inches. Suppose that the company has proposed the following cutting patterns: $\begin{array}{|c|c|c|c|c|c|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } \
\hline 1 & \text { Cutting-Stock Problem } & & & & \
\hline 2 & & & & & \
\hline 3 & \text { Data } & & & & \\hline 4 & \text { Pattern } & \text { 10-in rolls } & \text { 14 in. rolls } & \text { 25-in. rolls } & \text { Scrap } \
\hline 5 & 1 & 0 & 8 & 0 & 10 \
\hline 6 & 2 & 0 & 2 & 3 & 10 \\hline 7 & 3 & 3 & 0 & 3 & 4 \
\hline 8 & 4 & 10 & 0 & 0 & 10 \
\hline 9 & 5 & 3 & 2 & 2 & 4 \
\hline 10 & 6 & 8 & 2 & 0 & 4 \
\hline
\end{array}$ Demands for the coming week are 950 10-inch rolls, 725 14-inch roles, and 640 25-inch rolls. Develop a model using the Analytic Solver Platform that will determine how many 130-inch rolls to cut into each of the six patterns in order to meet demand and minimize scrap.
-What is the total number of 25-inch rolls produced?

Accepted Answer

A)  630 
B)  635 
C)  640 
D)  645 
A)  630 
B)  635 
C)  640 
D)  645

Question 9

Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 8 skilled workers, each of whom works9.25 hours per day. The finishing department has 5 workers, each of whom works a 6-hour shift per day. Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. The company anticipates selling at least twice as many Lava models as Graystone models.
Use the spreadsheet below for Stone Age Surfboards to answer the following question(s) using integer constraints on variables in the optimization models using the standard Solver. $\begin{array}{|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } \
\hline 1 & \text { Stone Age Surfboards } & & & \
\hline 2 & & & & \
\hline 3 & \text { Data } & & & \\hline 4 & & &{\text { Product }} & \
\hline 5 & \text { Department } & \text { Graystone } & \text { Lava } & \text { Limitations (hours) } \
\hline 6 & \text { Fabrication } & 2.5 & 4.2 & 74 \
\hline 7 & \text { Finishing } & 2 & 3.6 & 30 \\hline 8 & & & \
\hline 9 & \text { Profit/Unit } & \$ 40.00 & \$ 60.00 \
\hline 10 & & & \
\hline 11 & & & \
\hline 12 & \text { Model } & & \\hline 13 & & \text { Graystone } & \text { Lava } & \
\hline 14 & \text { Quantity Produced } & & & \text { Hours Used } \
\hline 15 & \text { Fabrication } & & & \
\hline 16 & \text { Finishing } & & & \\hline 17 & & & & \
\hline 18 & & & & \text { Excess Lava } \
\hline 19 & \text { Market Mixture } & & & \
\hline 20 & & & & \
\hline 21 & && & \text { Total Profit } \
\hline 22 & \text { Profit Contribution } & & & \
\hline
\end{array}$
-What is the quantity of Graystone surfboards produced?

Accepted Answer

A)  2 
B)  5 
C)  7 
D)  10 
A)  2 
B)  5 
C)  7 
D)  10

Question 10

Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 8 skilled workers, each of whom works9.25 hours per day. The finishing department has 5 workers, each of whom works a 6-hour shift per day. Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. The company anticipates selling at least twice as many Lava models as Graystone models.
Use the spreadsheet below for Stone Age Surfboards to answer the following question(s) using integer constraints on variables in the optimization models using the standard Solver. $\begin{array}{|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } \
\hline 1 & \text { Stone Age Surfboards } & & & \
\hline 2 & & & & \
\hline 3 & \text { Data } & & & \\hline 4 & & &{\text { Product }} & \
\hline 5 & \text { Department } & \text { Graystone } & \text { Lava } & \text { Limitations (hours) } \
\hline 6 & \text { Fabrication } & 2.5 & 4.2 & 74 \
\hline 7 & \text { Finishing } & 2 & 3.6 & 30 \\hline 8 & & & \
\hline 9 & \text { Profit/Unit } & \$ 40.00 & \$ 60.00 \
\hline 10 & & & \
\hline 11 & & & \
\hline 12 & \text { Model } & & \\hline 13 & & \text { Graystone } & \text { Lava } & \
\hline 14 & \text { Quantity Produced } & & & \text { Hours Used } \
\hline 15 & \text { Fabrication } & & & \
\hline 16 & \text { Finishing } & & & \\hline 17 & & & & \
\hline 18 & & & & \text { Excess Lava } \
\hline 19 & \text { Market Mixture } & & & \
\hline 20 & & & & \
\hline 21 & && & \text { Total Profit } \
\hline 22 & \text { Profit Contribution } & & & \
\hline
\end{array}$
-Which of the following constraints Solver uses?

Accepted Answer

A) $B$14:$C$14 = integer B) $D$15 > = $D$6 C) $D$16 > = $D$7 D) $D$19 < = 0 A) $B$14:$C$14 = integer B) $D$15 > = $D$6 C) $D$16 > = $D$7 D) $D$19 < = 0

Question 11

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver. Below is the spreadsheet for Memphis Designs fixed cost model: $\begin{array}{|l|c|c|c|c|}
\hline & \mathrm{A} & \mathrm{B} & \mathrm{C} & \mathrm{D} \
\hline 1 &{\text { Memphis Design Fixed Cost Model }} & & \
\hline 2 & & & & \\hline 3 & \text { Data } & \
\hline 4 & & \\hline 5 & \text { Cost } & \text { Quarter 1 } & \text { Quarter 2 } & \text { Quarter 3 } \
\hline 6 & \text { Production } & \$ 10.00 & \$ 15.00 & \$ 13.50 \
\hline 7 & \text { Inventory } & \$ 1.70 & \$ 1.70 & \$ 1.70 \
\hline 8 & \text { Demand } & 200 & 450 & 75 \
\hline 9 & \text { Fixed Cost } & \$ 75.00 & \$ 75.00 & \$ 75.00 \\hline 10 & \
\hline 11 & \text { Model } \
\hline 12 & \\hline 13 & & \text { Quarter 1 } & \text { Quarter 2 } & \text { Quarter 3 } \
\hline 14 & \text { Production } & & & \\hline 15 & \text { Inventory } \
\hline 16 & \text { Binary } \
\hline 17 & \
\hline 18 & \text { Binary constraints } \
\hline 19 & \text { Net Production } \\hline 20 & & \
\hline 21 & & \text { Cost } \
\hline 22 & \text { Total } & \
\hline
\end{array}$
-What is the binary constraint at the end of the third quarter?

Accepted Answer

A)  75 
B)  200 
C)  450 
D)  0 
A)  75 
B)  200 
C)  450 
D)  0

Question 12

Formulate and solve optimization models with binary variables and logical constraints.
Use the table below to answer the following question(s) by invoking the binary constraints on the variables using the standard Solver.
Below is the spreadsheet for a project selection model: \(\begin{array}{|l|l|l|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } & \text { F } & \text { G } \
\hline & \text { Project Selection } & & & & & & \
1 & \text { Model } & & & & & & \
\hline 2 & & & & & & & \\hline 3 & \text { Data } & & & & & & \
\hline 4 & & & & & & & \text { Available } \
 & & \text { Project 1 } & \text { Project 2 } & \text { Project 3 } & \text { Project 4 } & \text { Project 5 } & \text { Resources } \\hline 5 & \begin{array}{l}
\text { Expected Return } \
(\mathrm{NPV})
\end{array} & \$ 160,000 & \$ 200,000 & \$ 125,000 & \$ 150,000 & \$ 225,000 \\hline 6 & \begin{array}{l}
\text { Cash } \
\text { requirements }
\end{array} & \$ 45,000 & \$ 70,000 & \$ 28,000 & \$ 52,000 & \$ 65,000 &\$175,000\\hline 7 & \begin{array}{l}
\text { Personnel } \
\text { requirements }
\end{array} & 7 & 4 & 2 & 6 & 4 & 10 \
\hline 8 & & & & & & & \\hline 9 & \text { Model } \
\hline 10 & \
\hline 11 & \begin{array}{l}
\text { Project selection } \
\text { decisions }
\end{array} \\hline 12 & \text { Cash Used } \
\hline 13 & \text { Personnel Used } \
\hline 14 & \text { Return } \
\hline
\end{array}\)
-What is the amount of cash used for Project 5?

Accepted Answer

A)  $ 65,000 
B)  $ 117,000 
C)  $ 13,000 
D)  $ 110,000 
A)  $ 65,000 
B)  $ 117,000 
C)  $ 13,000 
D)  $ 110,000

Question 13

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver.
Coppell Services contracts with outsourcing partners to handle various customer service functions. Based on a study of call volumes provided by one of the firm's partners, the minimum number of staff needed for each hour of the day is as follows: $$\begin{array} { | l | l | } 
\hline \text { Hour } & \text { Minimum Staff Required } \
\hline 8 - 9 & 6 \
\hline 9 - 10 & 10 \
\hline 10 - 11 & 12 \
\hline 11 \text {-noon } & 10 \
\hline \text { noon-1 } & 8 \
\hline 1 - 2 & 16 \
\hline 2 - 3 & 15 \
\hline 3 - 4 & 20 \
\hline 4 - 5 & 15 \
\hline
\end{array}$$ Mr. Coppell hires 6 permanent employees and wants to staff the remaining requirements using part-time employees who work 4-hour shifts (four consecutive hours starting as early as 8 A.M. or as late as 1 P.M.).
-How many part-time employees are present in the 8-9 time slot?

Accepted Answer

A)  4 
B)  6 
C)  9 
D)  14 
A)  4 
B)  6 
C)  9 
D)  14

Question 14

Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 8 skilled workers, each of whom works9.25 hours per day. The finishing department has 5 workers, each of whom works a 6-hour shift per day. Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. The company anticipates selling at least twice as many Lava models as Graystone models.
Use the spreadsheet below for Stone Age Surfboards to answer the following question(s) using integer constraints on variables in the optimization models using the standard Solver. $\begin{array}{|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } \
\hline 1 & \text { Stone Age Surfboards } & & & \
\hline 2 & & & & \
\hline 3 & \text { Data } & & & \\hline 4 & & &{\text { Product }} & \
\hline 5 & \text { Department } & \text { Graystone } & \text { Lava } & \text { Limitations (hours) } \
\hline 6 & \text { Fabrication } & 2.5 & 4.2 & 74 \
\hline 7 & \text { Finishing } & 2 & 3.6 & 30 \\hline 8 & & & \
\hline 9 & \text { Profit/Unit } & \$ 40.00 & \$ 60.00 \
\hline 10 & & & \
\hline 11 & & & \
\hline 12 & \text { Model } & & \\hline 13 & & \text { Graystone } & \text { Lava } & \
\hline 14 & \text { Quantity Produced } & & & \text { Hours Used } \
\hline 15 & \text { Fabrication } & & & \
\hline 16 & \text { Finishing } & & & \\hline 17 & & & & \
\hline 18 & & & & \text { Excess Lava } \
\hline 19 & \text { Market Mixture } & & & \
\hline 20 & & & & \
\hline 21 & && & \text { Total Profit } \
\hline 22 & \text { Profit Contribution } & & & \
\hline
\end{array}$
-What is the total profit generated?

Accepted Answer

A)  $ 748.28 
B)  $ 687.46 
C)  $ 385.65 
D)  $ 500.00 
A)  $ 748.28 
B)  $ 687.46 
C)  $ 385.65 
D)  $ 500.00

Question 15

What is the purpose of a heat map?

Accepted Answer

As the amount of cash and personnel vary

Question 16

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver. Below is the spreadsheet for Memphis Designs fixed cost model: $\begin{array}{|l|c|c|c|c|}
\hline & \mathrm{A} & \mathrm{B} & \mathrm{C} & \mathrm{D} \
\hline 1 &{\text { Memphis Design Fixed Cost Model }} & & \
\hline 2 & & & & \\hline 3 & \text { Data } & \
\hline 4 & & \\hline 5 & \text { Cost } & \text { Quarter 1 } & \text { Quarter 2 } & \text { Quarter 3 } \
\hline 6 & \text { Production } & \$ 10.00 & \$ 15.00 & \$ 13.50 \
\hline 7 & \text { Inventory } & \$ 1.70 & \$ 1.70 & \$ 1.70 \
\hline 8 & \text { Demand } & 200 & 450 & 75 \
\hline 9 & \text { Fixed Cost } & \$ 75.00 & \$ 75.00 & \$ 75.00 \\hline 10 & \
\hline 11 & \text { Model } \
\hline 12 & \\hline 13 & & \text { Quarter 1 } & \text { Quarter 2 } & \text { Quarter 3 } \
\hline 14 & \text { Production } & & & \\hline 15 & \text { Inventory } \
\hline 16 & \text { Binary } \
\hline 17 & \
\hline 18 & \text { Binary constraints } \
\hline 19 & \text { Net Production } \\hline 20 & & \
\hline 21 & & \text { Cost } \
\hline 22 & \text { Total } & \
\hline
\end{array}$
-What is the net production at the end of the first quarter?

Accepted Answer

A)  75 
B)  200 
C)  450 
D)  600 
A)  75 
B)  200 
C)  450 
D)  600

Question 17

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver.
Coppell Services contracts with outsourcing partners to handle various customer service functions. Based on a study of call volumes provided by one of the firm's partners, the minimum number of staff needed for each hour of the day is as follows: $$\begin{array} { | l | l | } 
\hline \text { Hour } & \text { Minimum Staff Required } \
\hline 8 - 9 & 6 \
\hline 9 - 10 & 10 \
\hline 10 - 11 & 12 \
\hline 11 \text {-noon } & 10 \
\hline \text { noon-1 } & 8 \
\hline 1 - 2 & 16 \
\hline 2 - 3 & 15 \
\hline 3 - 4 & 20 \
\hline 4 - 5 & 15 \
\hline
\end{array}$$ Mr. Coppell hires 6 permanent employees and wants to staff the remaining requirements using part-time employees who work 4-hour shifts (four consecutive hours starting as early as 8 A.M. or as late as 1 P.M.).
-How many excess employees are present in the 4-5 time slot?

Accepted Answer

A)  0 
B)  2 
C)  4 
D)  6 
A)  0 
B)  2 
C)  4 
D)  6

Question 18

Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 8 skilled workers, each of whom works9.25 hours per day. The finishing department has 5 workers, each of whom works a 6-hour shift per day. Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing. The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing. The company operates 6 days a week. It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. The company anticipates selling at least twice as many Lava models as Graystone models.
Use the spreadsheet below for Stone Age Surfboards to answer the following question(s) using integer constraints on variables in the optimization models using the standard Solver. $\begin{array}{|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } \
\hline 1 & \text { Stone Age Surfboards } & & & \
\hline 2 & & & & \
\hline 3 & \text { Data } & & & \\hline 4 & & &{\text { Product }} & \
\hline 5 & \text { Department } & \text { Graystone } & \text { Lava } & \text { Limitations (hours) } \
\hline 6 & \text { Fabrication } & 2.5 & 4.2 & 74 \
\hline 7 & \text { Finishing } & 2 & 3.6 & 30 \\hline 8 & & & \
\hline 9 & \text { Profit/Unit } & \$ 40.00 & \$ 60.00 \
\hline 10 & & & \
\hline 11 & & & \
\hline 12 & \text { Model } & & \\hline 13 & & \text { Graystone } & \text { Lava } & \
\hline 14 & \text { Quantity Produced } & & & \text { Hours Used } \
\hline 15 & \text { Fabrication } & & & \
\hline 16 & \text { Finishing } & & & \\hline 17 & & & & \
\hline 18 & & & & \text { Excess Lava } \
\hline 19 & \text { Market Mixture } & & & \
\hline 20 & & & & \
\hline 21 & && & \text { Total Profit } \
\hline 22 & \text { Profit Contribution } & & & \
\hline
\end{array}$
-What is the quantity of Lava surfboards produced?

Accepted Answer

A)  2 
B)  5 
C)  7 
D)  10 
A)  2 
B)  5 
C)  7 
D)  10

Question 19

Formulate and solve optimization models with binary variables and logical constraints.
Use the table below to answer the following question(s) by invoking the binary constraints on the variables using the standard Solver.
Below is the spreadsheet for a project selection model: \(\begin{array}{|l|l|l|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } & \text { F } & \text { G } \
\hline & \text { Project Selection } & & & & & & \
1 & \text { Model } & & & & & & \
\hline 2 & & & & & & & \\hline 3 & \text { Data } & & & & & & \
\hline 4 & & & & & & & \text { Available } \
 & & \text { Project 1 } & \text { Project 2 } & \text { Project 3 } & \text { Project 4 } & \text { Project 5 } & \text { Resources } \\hline 5 & \begin{array}{l}
\text { Expected Return } \
(\mathrm{NPV})
\end{array} & \$ 160,000 & \$ 200,000 & \$ 125,000 & \$ 150,000 & \$ 225,000 \\hline 6 & \begin{array}{l}
\text { Cash } \
\text { requirements }
\end{array} & \$ 45,000 & \$ 70,000 & \$ 28,000 & \$ 52,000 & \$ 65,000 &\$175,000\\hline 7 & \begin{array}{l}
\text { Personnel } \
\text { requirements }
\end{array} & 7 & 4 & 2 & 6 & 4 & 10 \
\hline 8 & & & & & & & \\hline 9 & \text { Model } \
\hline 10 & \
\hline 11 & \begin{array}{l}
\text { Project selection } \
\text { decisions }
\end{array} \\hline 12 & \text { Cash Used } \
\hline 13 & \text { Personnel Used } \
\hline 14 & \text { Return } \
\hline
\end{array}\)
-What is the return obtained from Project 5?

Accepted Answer

A)  $ 200,000 
B)  $ 125,000 
C)  $ 275,000 
D)  $ 225,000 
A)  $ 200,000 
B)  $ 125,000 
C)  $ 275,000 
D)  $ 225,000

Question 20

Formulate and solve optimization models with binary variables and logical constraints.
Use the table below to answer the following question(s) by invoking the binary constraints on the variables using the standard Solver.
Below is the spreadsheet for a project selection model: \(\begin{array}{|l|l|l|l|l|l|l|l|}
\hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } & \text { F } & \text { G } \
\hline & \text { Project Selection } & & & & & & \
1 & \text { Model } & & & & & & \
\hline 2 & & & & & & & \\hline 3 & \text { Data } & & & & & & \
\hline 4 & & & & & & & \text { Available } \
 & & \text { Project 1 } & \text { Project 2 } & \text { Project 3 } & \text { Project 4 } & \text { Project 5 } & \text { Resources } \\hline 5 & \begin{array}{l}
\text { Expected Return } \
(\mathrm{NPV})
\end{array} & \$ 160,000 & \$ 200,000 & \$ 125,000 & \$ 150,000 & \$ 225,000 \\hline 6 & \begin{array}{l}
\text { Cash } \
\text { requirements }
\end{array} & \$ 45,000 & \$ 70,000 & \$ 28,000 & \$ 52,000 & \$ 65,000 &\$175,000\\hline 7 & \begin{array}{l}
\text { Personnel } \
\text { requirements }
\end{array} & 7 & 4 & 2 & 6 & 4 & 10 \
\hline 8 & & & & & & & \\hline 9 & \text { Model } \
\hline 10 & \
\hline 11 & \begin{array}{l}
\text { Project selection } \
\text { decisions }
\end{array} \\hline 12 & \text { Cash Used } \
\hline 13 & \text { Personnel Used } \
\hline 14 & \text { Return } \
\hline
\end{array}\)
-What is the return obtained from Project 3?

Accepted Answer

A)  $ 200,000 
B)  $ 125,000 
C)  $ 275,000 
D)  $ 225,000 
A)  $ 200,000 
B)  $ 125,000 
C)  $ 275,000 
D)  $ 225,000

Mathematically, a binary variable x can be represented as x > 2 and integer.

is the parameter that specifies when the Solver algorithm will terminate an optimization process with integer constraints.

What is the purpose of a heat map?

Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Statistical Inference

Trendlines and Regression Analysis

Forecasting Techniques

Introduction to Data Mining

Spreadsheet Modeling and Analysis

Monte Carlo Simulation and Risk Analysis

Linear Optimization

Applications of Linear Optimization

Decision Analysis

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Exam 15: Integer Optimization

Mathematically, a binary variable x can be represented as x > 2 and integer.

is the parameter that specifies when the Solver algorithm will terminate an optimization process with integer constraints.

What is the purpose of a heat map?

Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Statistical Inference

Trendlines and Regression Analysis

Forecasting Techniques

Introduction to Data Mining

Spreadsheet Modeling and Analysis

Monte Carlo Simulation and Risk Analysis

Linear Optimization

Applications of Linear Optimization

Decision Analysis

Filters