3093 Words Mar 27th, 2015 13 Pages
BSOP 209 Final Exam 100% Correct Answers
2. (TCO 9) What is the objective function of LP?
3. (TCO 11 & 12) What are two of the steps in a simplex maximization problem?
4. (TCO 10) What will happen if the right-hand side of a constraint is changed?
5. (TCO 15 & 16) What are three of the basic steps that both PERT and CPM follow?
6. (TCO 16) What is a “dummy activity?”
7. (TCO 3, 4, & 5) What is the formula for linear regression? Define each part.
8. (TCO 1) What are the four qualitative forecasting approaches that are available to us?
9. (TCO
The four processes, labeled A, B, C, and D use different technology and have different capacities. All the processes have the same level of production and the lifetime.
The four states of nature represent four levels of consumer acceptance of the firm’s products. Values in the table are net present value of future profits in millions of dollars.
Forecasts indicate that there is a 0.4 probability of acceptance level 1, 0.3 chance of acceptance level 2, 0.6 chance of acceptance level 3, and 0.5 change of acceptance level 4.
Consumer Acceptance Level (states of nature)
1 2 3 4
Alternative A 35 55 85 165
Alternative B -105 -5 155 225
Alternative c 75 85 75 65
Alternative D 55 55 75 65
Using the criterion of expected monetary value, which production alternative should be chosen?

BSOP 209 Final Exam 100% Correct Answers
2. (TCO 9) What is the objective function of LP?
3. (TCO 11 & 12) What are two of the steps in a simplex maximization problem?
4. (TCO 10) What will happen if the right-hand side of a constraint is changed?
5. (TCO 15 & 16) What are three of the basic steps that both PERT and CPM follow?
6. (TCO 16) What is a “dummy activity?”
7. (TCO 3, 4, & 5) What is the formula for linear regression? Define each part.
8. (TCO 1) What are the four