Practice Midterm Examination- 2014
Section-I
From the following chose the correct Answer with the choice given
(10 marks, one mark each)
1) Managers do not need to be familiar with the limitations, assumptions, and/or specific
applicability of the quantit
1. QualitativemodelsattempttoincorporatejudgmentalorsubjectivefactorsintotheforecastingModels.
(T)
2. Interviews, statistical sampling, and company reports provide input data for quantitative analysis
models.
(T)
3. Expectedmonetaryvalue(EMV)istheaverageo
Decision Theory
1.
Decision variables may also be called parameters.
2.
15.
16.
To determine the effect of input changes on decision results, we should perform a
sensitivity analysis.
True
One purpose of regression is to understand the relationship betwee
ch1
The quantitative analysis approach
Ch3
. Expected monetary value (EMV) is
Ch4
Regression analysis is
Regression analysis is an extremely valuable quantitative tool. Using scatter
diagrams helps to see relationships between variables.
Therearegenerally
Key Equations
[1-1]
PIOIZSX"fDX
where
.r = selling price per unit
f = xed 005i
v 2 variable cost per unit
X = number of units sold
An equation to determine prot as a function of the sell-
ing price per unit. xed costs. variable costs. and num-
ber of un
LONG TYPE QUESTIONS
Q1 Customers arrive at a sales counter manned by a single person according to a poisson
process with a mean rate of 20 per hour. The time required to serve a customer has an
exponential distribution with a mean of 100 seconds. Find the
QUEUEING THEORY
HASSAN BAKHSHI
DR. ZIAUL
Waiting Line Theory or Queuing Model
INTRODUCTION
Before going to waiting line theory or queuing theory, one has to
understand two things in clear. They are service and customer or element. Here
customer or element
Quiz March2014
Quantitative Methods for Management (STAT-201)
Name of the Student.Date.
Student I.D. no Course/Class. Branch.
Answer all the questions on the same question papers
(Section-I)
State whether the following Statement are True and False
(1 Mark
Practice Midterm Examination- 2014
Section-I
From the following chose the correct Answer with the choice given
(10 marks, one mark each)
1) Managers do not need to be familiar with the limitations, assumptions, and/or specific
applicability of the quantit
72106 CH11 GGS
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C H A P T E R
Integer Programming, Goal Programming, Nonlinear Programming and the Branch and Bound Methods
TEACHING SUGGESTIONS
Teaching Suggestion 11.1: Topics in This Chapter. The overall purpose of this chapter
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C H A P T E R
Linear Programming Modeling Applications: With Computer Analyses in Excel and QM for Windows
TEACHING SUGGESTIONS
Teaching Suggestion 8.1: Importance of Formulating Large LP Problems. Since computers ar
72106 CH05 GGS
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Page 48
C H A P T E R
Forecasting Models
5
TEACHING SUGGESTIONS
Teaching Suggestion 5.1: Wide Use of Forecasting. Forecasting is one of the most important tools a student can master because every firm needs to conduct foreca
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Page 184
C H A P T E R
Project Management
13
TEACHING SUGGESTIONS
Teaching Suggestion 13.1: Importance of PERT. PERT has rebounded and, due to PC software such as Microsoft Project, become a highly used quantitative analysis
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Page 274
M O D U L E
Decision Theory and the Normal Distribution
3
TEACHING SUGGESTIONS
Teaching Suggestion M3.1: Reviewing the Normal Curve. Most of the material in this supplement requires the use of the normal curve. A r
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M O D U L E
Game Theory
4
TEACHING SUGGESTIONS
Teaching Suggestion M4.1: Game Theory and Conflict. This module covers zero-sum, two-person games. Conflict is a part of our world. Students can be asked to discuss th
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C H A P T E R
Network Models
12
1
TEACHING SUGGESTIONS
Teaching Suggestion 12.1: The solution techniques for this chapter are easy and straightforward. Although they obtain an optimal solution, students should be to
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Page 212
C H A P T E R
Waiting Line and Queuing Theory Models
14
TEACHING SUGGESTIONS
Teaching Suggestion 14.1: Topic of Queuing. Here is a chapter that all students can relate to. Ask about student experiences in lines. Str
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Page 268
M O D U L E
Dynamic Programming
2
TEACHING SUGGESTIONS
Teaching Suggestion M2.1: Overall Use of Dynamic Programming. Dynamic programming is a general approach that can be used to solve a number of different problem
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M O D U L E
Analytic Hierarchy Process
1
TEACHING SUGGESTIONS
Teaching Suggestion M1.1: Using Multifactor Decision-Making Techniques. Many decisions students make involve a number of factors. Thus, multifactor deci
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C H A P T E R
Decision Analysis
3
TEACHING SUGGESTIONS
Teaching Suggestion 3.1: Using the Steps of the Decision-Making Process. The six steps used in decision theory are discussed in this chapter. Students can be ask
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Page 109
C H A P T E R
Linear Programming: The Simplex Method
9
0 0 9 0
TEACHING SUGGESTIONS
Teaching Suggestion 9.1: Meaning of Slack Variables. Slack variables have an important physical interpretation and represent a valu
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C H A P T E R
Transportation and Assignment Models
10
TEACHING SUGGESTIONS
Teaching Suggestion 10.1: Transportation Models in the Chapter. This is a long chapter, in part, because of the four transportation algorith
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C H A P T E R
Probability Concepts and Applications
2
TEACHING SUGGESTIONS
Teaching Suggestion 2.1: Concept of Probabilities Ranging From 0 to 1. People often misuse probabilities by such statements as, "I'm 110% sure
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Page 61
C H A P T E R
Inventory Control Models
6
TEACHING SUGGESTIONS
Teaching Suggestion 6.1: Importance of Inventory Control. Inventory control is important to most organizations. This chapter on inventory control can be i
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Page 43
C H A P T E R
Regression Models
4
15 9 40 20 25 25 15 35 6 4 16 6 13 9 10 16
TEACHING SUGGESTIONS
Teaching Suggestion 4.1: Which Is the Independent Variable? We find that students are often confused about which varia
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Page 1
C H A P T E R
Introduction to Quantitative Analysis
1
TEACHING SUGGESTIONS
Teaching Suggestion 1.1: Importance of Qualitative Factors. Section 1.2 gives students an overview of quantitative analysis. In this section,