Question 1

An agile system can process data from different sources and different data formats. An agile system can:

Accepted Answer

A)  Deal with the heterogeneity of data sources. 
B)  Replace missing values. 
C)  Allow the decision scientist to manage the variety of data. 
D)  All of the above must be included in an agile system. 
A)  Deal with the heterogeneity of data sources. 
B)  Replace missing values. 
C)  Allow the decision scientist to manage the variety of data. 
D)  All of the above must be included in an agile system. D

Question 2

Which of the following is a major step that a modeler must follow to solve large linear programming models?

Accepted Answer

A)  Setting up a template that represents equations of the objective function and constraints. 
B)  Invoking Solver to generate results 
C)  Both a and b 
D)  None of the above 
A)  Setting up a template that represents equations of the objective function and constraints. 
B)  Invoking Solver to generate results 
C)  Both a and b 
D)  None of the above C

Question 3

The implementation of linear programming models as operational business intelligence tools in the era of Big Data requires that decision makers:

Accepted Answer

A)  Attract as many sources of data as possible. 
B)  Adapt those data from heterogeneous sources. 
C)  Feed those models directly with the most up-to-date input parameters. 
D)  All of the above 
A)  Attract as many sources of data as possible. 
B)  Adapt those data from heterogeneous sources. 
C)  Feed those models directly with the most up-to-date input parameters. 
D)  All of the above D

Question 4

The direction of a constraint in a linear programming model can be:

Accepted Answer

A)  Less than or equal 
B)  Greater than or equal 
C)  Equal 
D)  Any of the above 
A)  Less than or equal 
B)  Greater than or equal 
C)  Equal 
D)  Any of the above

Question 5

During sensitivity analysis, the shadow price indicates the maximum value of contribution coefficients that will not alter the value of the objective function.

Accepted Answer

A) True 
 B)False

Question 6

The general formulation of linear programming models always includes which of the following?

Accepted Answer

A)  A minimization objective function 
B)  A set of greater-than-or-equal-to (?) constraints 
C)  A set of non-negativity constraints 
D)  All of the above 
A)  A minimization objective function 
B)  A set of greater-than-or-equal-to (?) constraints 
C)  A set of non-negativity constraints 
D)  All of the above

Question 7

An agile system has the ability to produce and adapt data from heterogeneous sources.

Accepted Answer

A) True 
 B)False

Question 8

When incorporating a large amount of input data, the decision maker must calculate model parameters as an additional step in the process of formulating a linear programming model.

Accepted Answer

A) True 
 B)False

Question 9

The "refresh" option in the pivot table allows the decision maker to:

Accepted Answer

A)  Update the input parameters before feeding them into the model. 
B)  Use the latest operational data as input parameters. 
C)  Both a and b 
D)  None of the above 
A)  Update the input parameters before feeding them into the model. 
B)  Use the latest operational data as input parameters. 
C)  Both a and b 
D)  None of the above

Question 10

A magnetic system approach allows data scientists to incorporate only selected sources of data as input values in a linear programming model.

Accepted Answer

A) True 
 B)False

Question 11

Suppose that the right-hand-side value of a given binding constraint is increased by one unit and within the lower and upper limit. How would this change affect the objective function?

Accepted Answer

A)  The objective function will change by an amount equal to the reduced cost. 
B)  The objective function will change by an amount equal to the shadow price. 
C)  The objective function will change by an amount equal to the lower limit of the sensitivity report. 
D)  The objective function will change by an amount equal to the upper limit of the sensitivity report. 
A)  The objective function will change by an amount equal to the reduced cost. 
B)  The objective function will change by an amount equal to the shadow price. 
C)  The objective function will change by an amount equal to the lower limit of the sensitivity report. 
D)  The objective function will change by an amount equal to the upper limit of the sensitivity report.

Question 12

Which of the following functions can be performed with a pivot table?

Accepted Answer

A)  Automatically sorting data stored in a spreadsheet 
B)  Automatically counting data stored in a spreadsheet 
C)  Automatically averaging data stored in a spreadsheet 
D)  All of the above 
A)  Automatically sorting data stored in a spreadsheet 
B)  Automatically counting data stored in a spreadsheet 
C)  Automatically averaging data stored in a spreadsheet 
D)  All of the above

Question 13

In a linear programming model, the decision maker seeks to optimize an objective function while meeting the requirements of certain constraints. Which of the following is not a type of constraint?

Accepted Answer

A)  Resource constraints 
B)  Non-negativity constraints 
C)  Maximization constraints 
D)  All of the above are types of constraints. 
A)  Resource constraints 
B)  Non-negativity constraints 
C)  Maximization constraints 
D)  All of the above are types of constraints.

Question 14

Linear programming models are considered to be:

Accepted Answer

A)  A popular tool that can be used to solve selected optimization models. 
B)  An optimization tool that can be used to solve any business models. 
C)  A descriptive analytics tool that can be used to analyze organizational data. 
D)  All of the above 
A)  A popular tool that can be used to solve selected optimization models. 
B)  An optimization tool that can be used to solve any business models. 
C)  A descriptive analytics tool that can be used to analyze organizational data. 
D)  All of the above

Question 15

The general formulation of linear programming models always includes which of the following?

Accepted Answer

A)  A maximization objective function 
B)  A set of less-than-or equal-to (?) constraints 
C)  A set of non-negativity constraints 
D)  All of the above 
A)  A maximization objective function 
B)  A set of less-than-or equal-to (?) constraints 
C)  A set of non-negativity constraints 
D)  All of the above

Question 16

Linear programming model constraints are mostly greater than or equal to constraints.

Accepted Answer

A) True 
 B)False

Question 17

During sensitivity analysis, the shadow price indicates:

Accepted Answer

A)  The maximum value of contribution coefficients that will not alter the value of the objective function. 
B)  The minimum value of contribution coefficients that will not alter the value of the objective function. 
C)  The value of the objective function changes when one additional unit of the respective constraint is acquired. 
D)  All of the above 
A)  The maximum value of contribution coefficients that will not alter the value of the objective function. 
B)  The minimum value of contribution coefficients that will not alter the value of the objective function. 
C)  The value of the objective function changes when one additional unit of the respective constraint is acquired. 
D)  All of the above

Question 18

During sensitivity analysis, the shadow price indicates the value of the objective function changes when one additional unit of the respective constraint is acquired.

Accepted Answer

A) True 
 B)False

Question 19

The columns "Allowable Increase" and "Allowable Decrease" in the sensitivity report indicate that:

Accepted Answer

A)  The range of greater-than-or-equal-to (?) constraints within the existing optimal solution remains optimal. 
B)  The range of less-than-or-equal-to (?) constraints within the existing optimal solution remains optimal. 
C)  The range of the contribution coefficients within the existing optimal solution remains optimal. 
D)  All of the above 
A)  The range of greater-than-or-equal-to (?) constraints within the existing optimal solution remains optimal. 
B)  The range of less-than-or-equal-to (?) constraints within the existing optimal solution remains optimal. 
C)  The range of the contribution coefficients within the existing optimal solution remains optimal. 
D)  All of the above

Question 20

According to studies mentioned in Chapter 3, linear programming algorithms are considered to be one of the top 10 most important tools of the last century.

Accepted Answer

A) True 
 B)False

An agile system can process data from different sources and different data formats. An agile system can:

Which of the following is a major step that a modeler must follow to solve large linear programming models?

The implementation of linear programming models as operational business intelligence tools in the era of Big Data requires that decision makers:

The direction of a constraint in a linear programming model can be:

During sensitivity analysis, the shadow price indicates the maximum value of contribution coefficients that will not alter the value of the objective function.

The general formulation of linear programming models always includes which of the following?

An agile system has the ability to produce and adapt data from heterogeneous sources.

When incorporating a large amount of input data, the decision maker must calculate model parameters as an additional step in the process of formulating a linear programming model.

The "refresh" option in the pivot table allows the decision maker to:

A magnetic system approach allows data scientists to incorporate only selected sources of data as input values in a linear programming model.

Suppose that the right-hand-side value of a given binding constraint is increased by one unit and within the lower and upper limit. How would this change affect the objective function?

Which of the following functions can be performed with a pivot table?

In a linear programming model, the decision maker seeks to optimize an objective function while meeting the requirements of certain constraints. Which of the following is not a type of constraint?

Linear programming models are considered to be:

The general formulation of linear programming models always includes which of the following?

Linear programming model constraints are mostly greater than or equal to constraints.

During sensitivity analysis, the shadow price indicates:

During sensitivity analysis, the shadow price indicates the value of the objective function changes when one additional unit of the respective constraint is acquired.

The columns "Allowable Increase" and "Allowable Decrease" in the sensitivity report indicate that:

According to studies mentioned in Chapter 3, linear programming algorithms are considered to be one of the top 10 most important tools of the last century.

Business Analytics With Management Science

Introduction to Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Linear Programming

Marketing Analytics With Multiple Goals

Business Analytics With Simulation

Filters

Exam 3: Business Analytics With Linear Programming

An agile system can process data from different sources and different data formats. An agile system can:

Which of the following is a major step that a modeler must follow to solve large linear programming models?

The implementation of linear programming models as operational business intelligence tools in the era of Big Data requires that decision makers:

The direction of a constraint in a linear programming model can be:

During sensitivity analysis, the shadow price indicates the maximum value of contribution coefficients that will not alter the value of the objective function.

The general formulation of linear programming models always includes which of the following?

An agile system has the ability to produce and adapt data from heterogeneous sources.

When incorporating a large amount of input data, the decision maker must calculate model parameters as an additional step in the process of formulating a linear programming model.

The "refresh" option in the pivot table allows the decision maker to:

A magnetic system approach allows data scientists to incorporate only selected sources of data as input values in a linear programming model.

Suppose that the right-hand-side value of a given binding constraint is increased by one unit and within the lower and upper limit. How would this change affect the objective function?

Which of the following functions can be performed with a pivot table?

In a linear programming model, the decision maker seeks to optimize an objective function while meeting the requirements of certain constraints. Which of the following is not a type of constraint?

Linear programming models are considered to be:

The general formulation of linear programming models always includes which of the following?

Linear programming model constraints are mostly greater than or equal to constraints.

During sensitivity analysis, the shadow price indicates:

During sensitivity analysis, the shadow price indicates the value of the objective function changes when one additional unit of the respective constraint is acquired.

The columns "Allowable Increase" and "Allowable Decrease" in the sensitivity report indicate that:

According to studies mentioned in Chapter 3, linear programming algorithms are considered to be one of the top 10 most important tools of the last century.

Business Analytics With Management Science

Introduction to Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Linear Programming

Marketing Analytics With Multiple Goals

Business Analytics With Simulation

Filters