Question 1

A linear programming application used to measure the relative efficiency of operating units with the same goals and objectives is

Accepted Answer

A)  game theory. 
B)  asset allocation. 
C)  data envelopment analysis. 
D)  revenue management.

Question 2

In a two-person, zero-sum, pure-strategy game, there is no advantage to either player to switch from its strategy even if one of the players discovers the other player's strategy in advance.

Accepted Answer

A) True 
 B)False

Question 3

The analysis of a two-person, zero-sum game begins with checking to see whether a pure strategy exists.

Accepted Answer

A) True 
 B)False

Question 4

Modern revenue management systems maximize revenue potential for an organization by helping to manage

Accepted Answer

A)  pricing strategies. 
B)  reservation policies. 
C)  short-term supply decisions. 
D)  All of the alternatives are correct.

Question 5

For a two-person, zero-sum, mixed-strategy game, it is necessary to solve the LP for each player in order to learn both players' optimal strategies.

Accepted Answer

A) True 
 B)False

Question 6

In a revenue management model, dual prices tell reservation agents the revenue loss associated with overbooking each ODIF.

Accepted Answer

A) True 
 B)False

Question 7

If the inputs of the composite unit in DEA are greater than the inputs for an individual unit, then the composite is more efficient.

Accepted Answer

A) True 
 B)False

Question 8

The composite unit in DEA

Accepted Answer

A)  has as output a weighted average of the outputs of the individual units. 
B)  has as input a weighted average of the inputs of the individual units. 
C)  has outputs greater than or equal to the outputs of any individual unit. 
D)  All of the alternatives are correct.

Question 9

Revenue management methodology can be applied in the case of nonperishable assets.

Accepted Answer

A) True 
 B)False

Question 10

In game theory, the player seeking to maximize the value of the game selects a maximax strategy.

Accepted Answer

A) True 
 B)False

Exam 5: Advanced Linear Programming Applications

A linear programming application used to measure the relative efficiency of operating units with the same goals and objectives is

In a two-person, zero-sum, pure-strategy game, there is no advantage to either player to switch from its strategy even if one of the players discovers the other player's strategy in advance.

The analysis of a two-person, zero-sum game begins with checking to see whether a pure strategy exists.

Modern revenue management systems maximize revenue potential for an organization by helping to manage

For a two-person, zero-sum, mixed-strategy game, it is necessary to solve the LP for each player in order to learn both players' optimal strategies.

In a revenue management model, dual prices tell reservation agents the revenue loss associated with overbooking each ODIF.

If the inputs of the composite unit in DEA are greater than the inputs for an individual unit, then the composite is more efficient.

The composite unit in DEA

Revenue management methodology can be applied in the case of nonperishable assets.

In game theory, the player seeking to maximize the value of the game selects a maximax strategy.