Statistics- should be identified before decision criteria are established

Question 1 4.3 pts

Decision alternatives

	should be identified before decision criteria are established.
	are limited to quantitative solutions

	are evaluated as a part of the problem definition stage.
	are best generated by brain-storming.

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Question 2 4.3 pts

When the value of the output cannot
be determined even if the value of the controllable input is known, the model
is

	analog
	digital

	stochastic
	deterministic

Question
3 12.9 ptsSkip to question text.

Whole Foods buys organic beets from
two suppliers, one in Ames and one in Zearing. The price per unit of the Ames
beets is $4.50 and the price per unit of the Zearing beets is $7.00.

Whole Foods buys organic beets from
two suppliers, one in Ames and one in Zearing. The profit per unit of the Ames
beets is $4.50 and the profit per unit of the Zearing beets is $7.00.

1. Define variables that would
   tell how many units to purchase from each source.
2. Develop an objective function
   that would maximize total profit.
3. Whole Foods needs at least
   1,000 units of beets. The Ames supplier can supply at least 400 units and
   the Zearing supplier can supply no more than 900 units. Develop
   constraints for these conditions.

Question
4 12.9 ptsSkip to question text.

The relationship d = 500 – 10p
describes what happens to demand (d) as price (p) varies. Here, price can vary
between $2 and $10.

1. How many units can be sold at
   the $2 price? How many can be sold at the $10 price?
2. Model the expression for total
   revenue.
3. Consider prices of $4, $6, and
   $8. Which price alternative will maximize total revenue? What are the
   values for demand and revenue at this price?

Question 5 12.9 ptsSkip to question text.

Revenue per unit is projected to be
$40. There is a fixed cost of $45,000. The variable cost per unit is $15

1. Write an expression for total
   cost.
2. Write an expression for total
   revenue
3. Write an expression for total
   profit.
4. Find the break-even point.

Question 6 12.9 ptsSkip to question text.

A manufacturer makes two products,
windows and doors. Each must be processed through two work areas. Work area #1
has 48 hours of available production time. Work area #2 has 60 hours of
available production time. Manufacturing of a window requires 2 hours in work
area #1 and 4 hours in work area #2. Manufacturing of a door requires 2 hours
in work area #1 and 4 hours in work area #2. Profit is $8 per door and $6 per
window.

1. Define decision variables that
   will tell how many units to build (doors and windows)
2. Develop an objective function
   that will maximize profits.
3. Develop production constraints
   for work area #1 and #2.

Question
7 12.9 ptsSkip to question text.

To establish a driver education
school, organizers must decide how many cars, instructors, and students to
have. Costs are estimated as follows. Annual fixed costs to operate the school
are $30,000. The annual cost per car is $3000. The cost per instructor is
$11,000 and one instructor is needed for each car. Tuition for each student is
$350. Let x be the number of cars and y be the number of students.

1. Write an expression for total
   cost.
2. Write an expression for total
   revenue.
3. Write an expression for total
   profit.
4. The school offers the course
   eight times each year. Each time the course is offered, there are two
   sessions. If they decide to operate five cars, and if four students can be
   assigned to each car, will they break even?

Question 8 4.3 pts

In the set of all past due accounts,
let the event A mean the account is between 31 and 60 days past due and the
event B mean the account is that of a new customer. The intersection of A and B
is

	all new customers.
	all accounts fewer than 31 or more than 60 days past due.

	all accounts from new customers and all accounts that are from 31 to 60 days past due.
	all new customers whose accounts are between 31 and 60 days past due.

Question
9 4.3 pts

If P(A∩B) = 0

	A and B are independent events.
	P(A) + P(B) = 1

	None of these
	either P(A) = 0 or P(B) = 0.

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Question 10 4.3 pts

If P(A|B) = .4, then

	P(B|A) = .6
	P(A)*P(B) = .4

	P(A) / P(B) = .4
	P(B ∩ A)/P(B) = .4

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Question 11 12.9 pts

A package of candy contains 8 brown
and 12 red candies. You grab three pieces from the package. Give the sample
space of colors you could get. Order is not important.

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Question 12 17.35 ptsSkip to question text.

There are two more assignments in a
class before its end, and if you get an A on at least one of them, you will get
an A for the semester. Your subjective assessment of your performance is

Event	Probability
A on paper and A on exam	..25
A on paper only	.35
A on exam only	.30
A on neither	.10

1. What is the probability of
   getting an A on the paper?
2. What is the probability of
   getting an A on the exam?
3. What is the probability of
   getting an A in the course?
4. Are the grades on the assignments
   independent?

Question 13 12.9 ptsSkip to question text.

A mail order company tracks the
number of returns it receives each day. Information for the last 60 days shows

Number of returns	Number of days
0-99	25
100-199	9
200-299	6
300 or more	20

1. How many sample points are
   there?
2. List and assign probabilities
   to sample points.
3. What procedure was used to
   assign these probabilities?

Question
14 4.3 pts

Super Cola sales breakdown as 80%
regular soda and 20% diet soda. While 60% of the regular soda is purchased by
men, only 30% of the diet soda is purchased by men. If a woman purchases Super
Cola, what is the probability that it is a diet soda?

Question 15 4.3 pts

It is estimated that 2% of the
athletes competing in a large tournament are users of an illegal drug to
enhance performance. The test for this drug is 95% accurate. What is the
probability that an athlete who tests positive is actually a user?