Supply Chain Management
Final Test Solutions
Course Introduction
Supply Chain Management delves into the strategies, processes, and technologies used to efficiently oversee the flow of goods, information, and finances from raw materials to end consumers. This course covers fundamental topics such as procurement, production planning, inventory management, logistics, and distribution. It also examines the impact of globalization and digitalization on modern supply chains, as well as sustainable and ethical sourcing practices. Students will gain a comprehensive understanding of how effective supply chain coordination enhances organizational competitiveness and customer satisfaction.
Recommended Textbook
Spreadsheet Modeling and Decision Analysis 7th Edition by Cliff Ragsdale
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15 Chapters
1208 Verified Questions
1208 Flashcards
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Page 2
Chapter 1: Introduction to Modeling and Decision Analysis
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Sample Questions
Q1) The Chapter One "The World of Business Analytics" case reading offers the CEO alternatives to start the OR/MS collaboration process.All the following are alternatives offered except:
A)Require the OR/MS group to save their yearly salary in every study.
B)Use OR/MS personnel as consultants.
C)Hire some OR/MS professionals and give them a problem to work.
D)All are recommended alternatives.
Answer: A
Q2) Two of the effects associated with decision problems are:
A)anchoring and framing.
B)anchoring and loading.
C)framing and complacency.
D)none of the answers provided is correct.
Answer: A
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Chapter 2: Introduction to Optimization and Linear Programming
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Sample Questions
Q1) Why do we study the graphical method of solving LP problems?
A)Lines are easy to draw on paper.
B)To develop an understanding of the linear programming strategy.
C)It is faster than computerized methods.
D)It provides better solutions than computerized methods.
Answer: B
Q2) The constraint for resource 1 is 5 X<sub>1 </sub>+ 4 X<sub>2 </sub> 200.If X<sub>2 </sub>= 20,what it the minimum value for X<sub>1</sub>?
A)20
B)24
C)40
D)50
Answer: B
Q3) A common objective when manufacturing printed circuit boards is
A)maximizing the number of holes drilled.
B)maximizing the number of drill bit changes.
C)minimizing the number of holes drilled.
D)minimizing the total distance the drill bit must be moved.
Answer: D
Page 4
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Chapter 3: Modeling and Solving Lp Problems in a Spreadsheet
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Sample Questions
Q1) Refer to Exhibit 3.3.Which cells should be changing cells in this problem?
A)B4:C4
B)E5
C)D8:D10
D)E8:E10
Answer: A
Q2) A company needs to purchase several new machines to meet its future production needs.It can purchase three different types of machines A,B,and C.Each machine A costs $80,000 and requires 2,000 square feet of floor space.Each machine B costs $50,000 and requires 3,000 square feet of floor space.Each machine C costs $40,000 and requires 5,000 square feet of floor space.The machines can produce 200,250 and 350 units per day respectively.The plant can only afford $500,000 for all the machines and has at most 20,000 square feet of room for the machines.The company wants to buy as many machines as possible to maximize daily production. Formulate the LP for this problem.
Answer: 11ef2686_58c2_a8ca_ba15_c1f6002b612f_TB2205_00
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Page 5
Chapter 4: Sensitivity Analysis and the Simplex Method
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Sample Questions
Q1) The coefficients in an LP model
c<sub>j</sub>,a<sub>ij</sub>,b<sub>j</sub>)represent
A)random variables.
B)numeric constants.
C)random constants.
D)numeric variables.
Q2) The optimization technique that locates solutions in the interior of the feasible region is known as
A)sub-optimal optimization
B)sensitivity analysis
C)robust optimization
D)USET optimization
Q3) The difference between the right-hand side RHS)values of the constraints and the final optimal)value assumed by the left-hand side LHS)formula for each constraint is called the slack and is found in the
A)Status report
B)Slack report
C)Results report
D)Cell Value report
Q4) Refer to Exhibit 4.1.Are there alternate optimal solutions to this problem?
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Chapter 5: Network Modeling
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Sample Questions
Q1) Almost all network problems can be viewed as special cases of the A)transshipment problem.
B)shortest path problem.
C)maximal flow problem.
D)minimal spanning tree problem.
Q2) In the shortest route model,the originating and terminating network nodes are called:
A)source and sink
B)source and end
C)beginning and end
D)beginning and sink
Q3) A manufacturing company has a pool of 50 labor hours.A customer has requested two products,Product A and Product B,and has requested 15 and 20 of each respectively.It requires 2 hours of labor to produce Product A and 3 hours of labor to produce Product B.The company can obtain up to 50 additional hours of labor if required.In- house labor costs $25 per hour while contracted labor costs $45 per hour.Draw the network flow model that captures this problem.
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Chapter 6: Integer Linear Programming
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Sample Questions
Q1) A cellular phone company wants to locate two new communications towers to cover 4 regions.The company wants to minimize the cost of installing the two towers.The regions that can be covered by each tower site are indicated by a 1 in the following table:
Tower Sites
\(\begin{array}{rrrrr}
\text { Region } & 1 & 2 & 3 & 4 \\
\hline \text { A } & & 1 & & 1 \\
\text { B } & 1 & & 1 & 1 \\
\text { C } & 1 & 1 & 1 & \\
\text { D } & 1 & & &1 \\
\hline \text { COST } \$ 000 \text { s) } & 200 & 150 & 190 & 250 \end{array}\)
Formulate the ILP for this problem.
Q2) Binary variables are:
A)a subset of integer variables
B)continuous on an interval 0,1)
C)continuous on an interval 0,+ )
D)negative
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Page 8
Chapter 7: Goal Programming and Multiple Objective Optimization
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Sample Questions
Q1) What is the soft constraint form of the following hard constraint? 3X<sub>1 </sub>+ 2 X<sub>2 </sub>? 10
A)\(3 \mathrm{X}_{1}+2 \mathrm{X}_{2}+\mathrm{d}_{1}^{-}-\mathrm{d}_{1}^{+}=10\)
B)\(3 \mathrm{X}_{1}+2 \mathrm{X}_{2}+\mathrm{d}_{1}+\mathrm{d}_{1}^{+}=10\)
C)\(3 \mathrm{X}_{1}+2 \mathrm{X}_{2}-\mathrm{d}_{1}^{-}-\mathrm{d}_{1}^{+} \leq 10\)
D)\(3 \mathrm{X}_{1}+2 \mathrm{X}_{2}+\mathrm{d}_{1}^{-}-\mathrm{d}_{1}^{+} \geq 10\)
Q2) Refer to Exhibit 7.1.Which cells)isare)the objective cells)in this model?
A)$B$20
B)$D$6
C)$E$6
D)$B$13:$E$14,$B$9:$E$9
Q3) Refer to Exhibit 7.4.What formulas should go in cell E26 of the spreadsheet?
Page 9
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Chapter 8: Nonlinear Programming and Evolutionary Optimization
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Sample Questions
Q1) In the GRG algorithm the initial solution is called the A)originating point.
B)insertion point.
C)zero point.
D)starting point.
Q2) The global optimum solution to a nonlinear programming problems NLP),in which the objective function must be minimized,is:
A)always larger than the local optimum solution
B)always smaller than the local optimum solution
C)is smaller or equal to the local optimum solution
D)is larger or equal to the local optimum solution
Q3) Refer to Exhibit 8.2.What formula would you place in cell B6 to calculate Total Lot Area?
Q4) The optimal trade-off between risk and return for a given portfolio problem can be summarized by the A)efficient frontier.
B)investment frontier.
C)portfolio boundary.
D)variance boundary.
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Chapter 9: Regression Analysis
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Sample Questions
Q1) How many independent variables are there in simple regression analysis?
A)1
B)2
C)3
D)4
Q2) In time series regression analysis
A)the dependent variable represents time
B)the independent variable represents time
C)the sign of slope,b,is usually negative
D)the sign of slope,b,is usually positive
Q3) R<sup>2</sup><sup> </sup>is calculated as A)ESS/TSS
B)1 RSS/TSS)
C)RSS/ESS
D)RSS/TSS
Q4) A variable which takes on m discrete values would be modeled using A)m 1)binary variables.
B)m binary variables.
C)m 1)integer variables.
D)m non-linear variables.
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Chapter 10: Data Mining
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Sample Questions
Q1) Techniques)used in prediction step of data mining include
A)regression analysis
B)the k'th largest neighbor technique
C)neural networks
D)all of the above
Q2) Refer to Exhibit 10.2.What number of observations is classified correctly?
A)19
B)20
C)7
D)8
Q3) The concept behind neural networks is to
A)identify a function that accurately maps a set of input values to a corresponding set of output values
B)simulate how the classification process works
C)estimate a linear relationship between input and output values
D)develop a relationship that maps input values to an arbitrary set of output values
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Page 12
Chapter 11: Time Series Forecasting
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Sample Questions
Q1) Refer to Exhibit 11.7.What are predicted sales for time period 2 using the data in the spreadsheet?
A)208.5 predicted sales < 209.5
B)233.5 predicted sales < 234.5
C)283.5 predicted sales < 284.5
D)300.5 predicted sales < 301.5
Q2) Refer to Exhibit 11.8.What formula should be entered in cell H7 to compute the Predicted Sales value for year 2 Quarter 1?
A)=SUME6:F6)*G3
B)=SUME6:F6)+G3
C)=SUME6:F6)
D)=SUME6:G3)
Q3) Which of the following describes an additive seasonal effect in times series data?
A)An occasional pattern of equal magnitude.
B)An occasional pattern of unequal magnitude.
C)A regular,repeating pattern of equal magnitude.
D)A regular,repeating pattern of increasing magnitude.
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13
Chapter 12: Introduction to Simulation Using Analytic Solver
Platform
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Sample Questions
Q1) Sal,from Exhibit 12.5,has produced the following spreadsheet to compute confidence intervals on his income.What formula should go in cell B12 to compute the upper limit on a 95% confidence interval for the population proportion below 90%?
\(\begin{array}{|c|c|c|}
\hline & \text { A } & \mathrm{B} \\
\hline 1 & & \\
\hline 2 & \text { Sample Size: } & 300 \\
\hline 3 & & \\
\hline 4 & \text { Sample Mean: } & 4,119,519 \\
\hline 5 & \text { Sample StandardDeviation } & 291,117 \\
\hline 6 & & \\
\hline 7 & \text { 95\% LCL for the population mean: } & 4,086,576 \\
\hline 8 & \text { 95\% UCL for the population mean: } & 4,152,462 \\
\hline 9 & & \\
\hline 10 & \text { Target Proportion } & 0.900 \\
\hline 11 & \text { 95\% Lower Confidence Limit: } & 0.866 \\
\hline 12 & \text { 95\% Upper Confidence Limit: } & 0.934 \\
\hline \end{array}\)
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Chapter 13: Queuing Theory
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Sample Questions
Q1) The M/D/1 model results can be derived from which of the following systems?
A)M/M/1 with = 0
B)M/G/1 with = 0
C)M/G/1 with = 0
D)M/M/2 with finite queue length.
Q2) A Poisson distribution shape can be described as
A)slightly skewed to the left.
B)symmetric around the parameter .
C)skewed to the right.
D)discrete so it lacks any definable shape.
Q3) Refer to Exhibit 13.4.Based on this report what percent of the time is a grocery clerk busy serving a customer?
Q4) The M/M/s model with finite population can be used to model
A)a machine breakdown process in a shop with 10 identical machines
B)a process of patient arrival to a dentist's office
C)a process of patient departure from a dentist's office
D)a process of installing new machines in a shop
Q5) Refer to Exhibit 13.6.Based on this report what is the probability that a student will not get instantaneous help?
Page 15
Q6) Refer to Exhibit 13.6.What is the Kendall notation for this system?
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Chapter 14: Decision Analysis
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Sample Questions
Q1) A payoff matrix depicts versus with payoffs for each intersection cell.
A)decision criteria;states of nature.
B)decision alternatives;potential outcomes.
C)decision alternatives;states of nature.
D)decision criteria;potential outcomes.
Q2) In a graphical representation of decision trees the decision nodes are represented by
A)squares
B)circles
C)solid dots
D)ovals
Q3) The correspond to future events that are not under the control of the decision maker.
A)payoffs
B)states of nature
C)criteria
D)alternatives
Q4) Refer to Exhibit 14.13.Which car should the student choose based on the Summary worksheet?
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Page 16
Chapter 15: Project Management Online
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Sample Questions
Q1) CPM and PERT differ because of
A)activity time estimates
B)cost calculations
C)precedence relationship
D)network diagram
Q2) Refer to Exhibit 15.6.Is it necessary to draw an arc from the node for activity F to the node for activity I?
Q3) In deciding which activities to crash,select
A)activities on the critical paths)
B)all activities with positive slack time
C)longest activities
D)lowest cost activities
Q4) Refer to Exhibit 15.1.What array formula is placed in cell H5 to calculate the Latest Finish Time?
A)E2 + D2
B)MAXIFISNUMBERFIND$A$2:$A$8,C5)),$F$2:$F$8))
C)H2 ? D2
D)MINIFISERRFINDA5,$C$5:$C$17)),MAX$F$5:$F$17),$G$5:$G$17))
Q5) Refer to Exhibit 15.3.Draw the CPM network for this problem.Use AON notation.
Page 17
Q6) Refer to Exhibit 15.4.Draw the CPM network for this problem.Use AON notation.
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