Question 1

In data envelopment analysis, the percentage of an individual operating unit's resources that are available to the composite operating unit is the

Accepted Answer

A)  efficiency index. 
B)  saddle point. 
C)  maximin. 
D)  minimax. 
A)  efficiency index. 
B)  saddle point. 
C)  maximin. 
D)  minimax. A

Question 2

If it is optimal for both players in a two-person, zero-sum game to select one strategy and stay with that strategy regardless of what the other player does, the game

Accepted Answer

A)  has more than one equilibrium point. 
B)  will have alternating winners. 
C)  will have no winner. 
D)  has a pure strategy solution. 
A)  has more than one equilibrium point. 
B)  will have alternating winners. 
C)  will have no winner. 
D)  has a pure strategy solution. D

Question 3

It is possible for DEA to show all operating units to be relatively inefficient.

Accepted Answer

A) True 
 B)False  False

Question 4

Portfolio manager Max Gaines needs to develop an investment portfolio for his clients who are willing to accept a moderate amount of risk. His task is to determine the proportion of the portfolio to invest in each of the five mutual funds listed below so that the portfolio provides an annual return of no less than 3%. Formulate the appropriate linear program.

Accepted Answer

The answer of Portfolio manager Max Gaines needs to develop...

Question 5

Revenue management methodology was originally developed for

Accepted Answer

A)  a cruise line. 
B)  an airline. 
C)  a car rental company. 
D)  a hotel chain. 
A)  a cruise line. 
B)  an airline. 
C)  a car rental company. 
D)  a hotel chain.

Question 6

Portfolio manager Max Gaines needs to develop an investment portfolio for his conservative clients. His task is to determine the proportion of the portfolio to invest in each of the five mutual funds listed below so that the portfolio provides the best return possible with a minimum risk. Formulate the maximin linear program.

Accepted Answer

The answer of Portfolio manager Max Gaines needs to develop...

Question 7

Consider the following two-person, zero-sum game. Payoffs are the winnings for Company X. Formulate the linear program that determines the optimal mixed strategy for Company X.

Accepted Answer

The answer of Consider the following two-person, zero-sum game. Payoffs...

Question 8

Revenue management methodology was originally developed for the banking industry.

Accepted Answer

A) True 
 B)False

Question 9

Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Player A. Identify the pure strategy solution. What is the value of the game?

Accepted Answer

Optimal pure strategies: Playe

Question 10

In portfolio models, risk is minimized by diversification.

Accepted Answer

A) True 
 B)False

Question 11

DEA is used to measure the relative efficiency of two (or more) units in different industries, such as a bank and a school.

Accepted Answer

A) True 
 B)False

Question 12

To develop a portfolio that provides the best return possible with a minimum risk, the linear programming model will have an objective function which

Accepted Answer

A)  minimizes the maximum risk. 
B)  minimizes total risk. 
C)  maximizes return and minimizes risk. 
D)  maximizes the minimum return. 
A)  minimizes the maximum risk. 
B)  minimizes total risk. 
C)  maximizes return and minimizes risk. 
D)  maximizes the minimum return.

Question 13

The Eastern Washington County School Corporation is interested in comparing educational performance at four elementary schools and has hired you to prepare a DEA model to do so. After detailed conversations with the corporation administrative staff and the building principals, you have isolated the following input and output measurements:
   Data is collected for each school on each measure
   Develop the DEA model that would evaluate the efficiency of Ralston Elementary School.

Accepted Answer

The answer of The Eastern Washington County School Corporation is...

Question 14

The overall goal of portfolio models is to create a portfolio that provides the best balance between

Accepted Answer

A)  short-term and long-term investments. 
B)  gains and losses. 
C)  risk and return. 
D)  liquidity and stability. 
A)  short-term and long-term investments. 
B)  gains and losses. 
C)  risk and return. 
D)  liquidity and stability.

Question 15

If a pure strategy solution exists for a two-person, zero-sum game, it is the optimal solution to the game.

Accepted Answer

A) True 
 B)False

Question 16

A DEA linear programming model involving 4 input measures and 3 output measures will have

Accepted Answer

A)  7 constraints. 
B)  8 constraints. 
C)  12 constraints. 
D)  13 constraints. 
A)  7 constraints. 
B)  8 constraints. 
C)  12 constraints. 
D)  13 constraints.

Question 17

DEA does not necessarily identify the operating units that are relatively efficient.

Accepted Answer

A) True 
 B)False

Question 18

The goal of portfolio models is to create a portfolio that provides the best balance between risk and return.

Accepted Answer

A) True 
 B)False

Question 19

DEA will show all but one operating unit to be relatively inefficient in the case where an operating unit producing the most of every output and also consumes the least of every input.

Accepted Answer

A) True 
 B)False

Question 20

Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Company X. Identify the pure strategy solution. What is the value of the game?

Accepted Answer

Optimal pure strategies: Compa

In data envelopment analysis, the percentage of an individual operating unit's resources that are available to the composite operating unit is the

If it is optimal for both players in a two-person, zero-sum game to select one strategy and stay with that strategy regardless of what the other player does, the game

It is possible for DEA to show all operating units to be relatively inefficient.

Revenue management methodology was originally developed for

Consider the following two-person, zero-sum game. Payoffs are the winnings for Company X. Formulate the linear program that determines the optimal mixed strategy for Company X.

Revenue management methodology was originally developed for the banking industry.

Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Player A. Identify the pure strategy solution. What is the value of the game?

In portfolio models, risk is minimized by diversification.

DEA is used to measure the relative efficiency of two (or more) units in different industries, such as a bank and a school.

To develop a portfolio that provides the best return possible with a minimum risk, the linear programming model will have an objective function which

The overall goal of portfolio models is to create a portfolio that provides the best balance between

If a pure strategy solution exists for a two-person, zero-sum game, it is the optimal solution to the game.

A DEA linear programming model involving 4 input measures and 3 output measures will have

DEA does not necessarily identify the operating units that are relatively efficient.

The goal of portfolio models is to create a portfolio that provides the best balance between risk and return.

DEA will show all but one operating unit to be relatively inefficient in the case where an operating unit producing the most of every output and also consumes the least of every input.

Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Company X. Identify the pure strategy solution. What is the value of the game?

Introduction

An Introduction to Linear Programming

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications in Marketing, Finance, and Operations Management

Distribution and Network Models

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Forecasting

Markov Processes

Filters

Exam 5: Advanced Linear Programming Applications

In data envelopment analysis, the percentage of an individual operating unit's resources that are available to the composite operating unit is the

If it is optimal for both players in a two-person, zero-sum game to select one strategy and stay with that strategy regardless of what the other player does, the game

It is possible for DEA to show all operating units to be relatively inefficient.

Revenue management methodology was originally developed for

Consider the following two-person, zero-sum game. Payoffs are the winnings for Company X. Formulate the linear program that determines the optimal mixed strategy for Company X.

Revenue management methodology was originally developed for the banking industry.

Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Player A. Identify the pure strategy solution. What is the value of the game?

In portfolio models, risk is minimized by diversification.

DEA is used to measure the relative efficiency of two (or more) units in different industries, such as a bank and a school.

To develop a portfolio that provides the best return possible with a minimum risk, the linear programming model will have an objective function which

The overall goal of portfolio models is to create a portfolio that provides the best balance between

If a pure strategy solution exists for a two-person, zero-sum game, it is the optimal solution to the game.

A DEA linear programming model involving 4 input measures and 3 output measures will have

DEA does not necessarily identify the operating units that are relatively efficient.

The goal of portfolio models is to create a portfolio that provides the best balance between risk and return.

DEA will show all but one operating unit to be relatively inefficient in the case where an operating unit producing the most of every output and also consumes the least of every input.

Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Company X. Identify the pure strategy solution. What is the value of the game?

Introduction

An Introduction to Linear Programming

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications in Marketing, Finance, and Operations Management

Distribution and Network Models

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Forecasting

Markov Processes

Filters