Managerial Decision Making Short Quiz

Question 1 (1 point)

Use Excel and the data below to determine the relationship between x and y. Choose the best description of the relationship below.

x 9.5 10.0 10.0 10.0 10.3 9.1 8.6

y 370 360 400 400 420 350 310

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Question 2 (1 point)

S&V Industries manufactures book cases. Different sizes of cases are kept in inventory. The company has 80 man-hours and 36 pounds of wood available each day. 2 pounds of wood are used to produce case x1 while 6 pounds of woods are used for case x2. Given that the optimal solution is x1 = 6 and x2 = 3.2, how much wood will be unused if the optimal number of bookcases are produced?

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Question 3 (1 point)

In a production process, the diameter measures of manufactured o-ring gaskets are known to be normally distributed with a mean diameter of 80 mm and a standard deviation of 3 mm. Any o-ring measuring 75 mm or less in diameter is defective and cannot be used. Using Excel, determine the percent or proportion of defective o-rings that will be produced.

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Question 4 (1 point)

Many airline flights are late for arrival. The histogram below displays the number of minutes a sample of schedules flights was late. The number above each bar is the frequency. For example, the second interval reveals that 5 flights were at least 10 minutes late but less than 20 minutes late.What percent of flights were at least 10 minutes late but less than 20 minutes late?(Enter your value in percent notation. For example, enter the value 30% as either 30 or 30%. Do not enter words, spaces, decimal point, or other marks or symbols) 

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Question 5 (1 point)

Given the following linear programming model: minimize C = 5×1 + 4×2 subject to 6×1 + 10×2 300 10×1 + 4×2 200 x1, x2 0 Its solution is:

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Question 6 (1 point)

Karim’s Oak Furniture Company manufactures oak tables and chairs. To manufacture the chairs and tables, the wood must be cut, glued, and finished. The labor requirements for the three steps are in the table below, as well as the profit for each table and chair. The available time for the labor requirements are 40 hours for cutting, 40 hours for gluing, and 40 hours for finishing.Karim wants to determine the number of tables and chairs to manufacture in order to maximize profit.What are the decision variables? 

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Question 7 (1 point)

For the data set below, use Excel to determine the slope, the rate of change of y for a one-unit change in x. 

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