Final Flashcards
(28 cards)
A___ probability is the altered marginal probability of an event based on additional information
posterior
A dummy activity is used to show a precedence relationship, but it does not represent a:
passage of time
A shadow price reflects which of the following in a maximization problem?
the marginal gain in the objective that would be realized by adding one unit of a resource
A single-bay car wash with a Poisson arrival rate and an exponential service time has cars arriving at an average of 10 minutes apart with an average service time of 4 minutes. What is the system utilization
0.4
A single-server queuing system has average time between arrivals of 20 minutes and a service time of 10 minutes each. Assuming Poisson arrivals and exponential service times, the utilization factor is approximately:
0.50
Administrators at a university will charge students $150 to attend a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. How many students would have to register for the seminar for the university to break even?
24
Bayesian analysis involves a(n) ________ probability
posterior
Cars arrive at a single-bay car wash at an average of 6 per hour according to the Poisson distribution. The wash time averages 4 minutes per car. What is the average number of cars in line?
.267
Given an actual demand of 59, a previous forecast of 64, and an alpha of .3, what would the forecast for the next period be using simple exponential smoothing?
62.5
If t is the expected completion time for a given activity, then
EF=ES + t
If the daily demand is 50 and the lead time in days is 4, what is the reorder point?
200
In a balanced transportation model where supply equals demand:
all constraints are equalities
In multiple-server models, ________ independent servers in parallel serve a single waiting line.
2 or more
Regret is the difference between the payoff from the:
best decision and all other decision payoffs
The Hurwicz criterion multiplies the:
best payoff by the coefficient of optimism
The LS and LF are calculated using the:
backward pass through the network
The critical path is the ___ path through the network
longest
The first step in the shortest route solution method is to:
select the node with the shortest direct route from the origin
The first step of the minimal spanning tree solution method is to:
select any starting node
The maximax criterion results in the:
maximum if the maximum payoffs
The maximin criterion results in the:
maximum of the minimum payoffs
The minimal spanning tree problem determines the:
minimum total branch lengths connecting all nodes in the network
The minimax regret criterion:
minimizes the maximum regret
The shipping company manager wants to determine the best routes for the trucks to take to reach their destinations. This problem can be solved using the:
shortest route solution technique
