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quantitative analysis for management

Questions and Answers of Quantitative Analysis For Management

=1. Simulation is a technique usually reserved for studying only the simplest and most straightforward of problems.a. Trueb. False
=2. A simulation model is designed to arrive at a single specific numerical answer to a given problem.a. Trueb. False
=3. Simulation typically requires a familiarity with statistics to evaluate the results.a. Trueb. False
=4. The verification process involves making sure thata. the model adequately represents the real-world system.b. the model is internally consistent and logical.c. the correct random numbers are
=5. The validation process involves making sure thata. the model adequately represents the real-world system.b. the model is internally consistent and logical.c. the correct random numbers are
=13-1 What are the advantages and limitations of simulation models?
=13-3 What types of management problems can be solved more easily by quantitative analysis techniques other than simulation?
=13-4 What are the major steps in the simulation process?
=13-5 What is Monte Carlo simulation? What principles underlie its use, and what steps are followed in applying it?
=13-6 List three ways in which random numbers may be generated for use in a simulation.
=13-7 Discuss the concepts of verification and validation in simulation.
=13-8 Give two examples of random variables that would be continuous and give two examples of random variables that would be discreet.
=13-10 Why is a computer necessary in conducting a realworld simulation?
=13-11 What is operational gaming? What is systems simulation? Give examples of how each may be applied.
=13-12 Do you think the application of simulation will increase strongly in the next 10 years? Why or why not?
=13-13 List five of the simulation software tools that are available today.
=13-14 Clark Property Management is responsible for the maintenance, rental, and day-to-day operation of a large apartment complex on the east side of New Orleans. George Clark is especially
=13-16 Compute the expected number of cars arriving in Problem 13-15 using the expected value formula. Compare this with the results obtained in the simulation.
=13-17 Refer to the data in Solved Problem 13-1, which deals with Higgins Plumbing and Heating. Higgins has now collected 100 weeks of data and finds the following distribution for sales:Hot Water
=(a) Resimulate the number of stockouts incurred over a 20-week period (assuming Higgins maintains a constant supply of 8 heaters).
=(b) Conduct this 20-week simulation two more times and compare your answers with those in part (a). Did they change significantly? Why or why not?
=(c) What is the new expected number of sales per week?
=13-18 An increase in the size of the barge unloading crew at the Port of New Orleans (see Section 13.5) has resulted in a new probability distribution for daily unloading rates. In particular, Table
=(a) Resimulate 15 days of barge unloadings and compute the average number of barges delayed, average number of nightly arrivals, and average number of barges unloaded each day. Draw random numbers
=(b) How do these simulated results compare with those in the chapter?
=13-21 Dumoor Appliance Center sells and services several brands of major appliances. Past sales for a particular model of refrigerator have resulted in the following probability distribution for
=13-22 Repeat the simulation in Problem 13-21, assuming that the reorder point is 4 units rather than 2. Compare the costs for these two situations.
=13-24 Draw a flow diagram to represent the logic and steps of simulating barge arrivals and unloadings at the Port of New Orleans (see Section 13.5). For a refresher in flowcharts, see Figure 13.3.
=13-26 The Brennan Aircraft Division of TLN Enterprises operates a large number of computerized plotting machines. For the most part, the plotting devices are used to create line drawings of complex
=The plotting machines are highly reliable, with the exception of the four sophisticated ink pens that are built in. The pens constantly clog and jam in a raised or lowered position. When this
=13-27 Dr. Mark Greenberg practices dentistry in Topeka, Kansas. Greenberg tries hard to schedule appointments so that patients do not have to wait beyond their appointment time. His October 20
=Dr. Greenberg has to leave at 12:15 p.m. on October 20 to catch a flight to a dental convention in New York.Assuming that he is ready to start his workday at 9:30 a.m. and that patients are treated
=13-28 The Pelnor Corporation is the nation’s largest manufacturer of industrial-size washing machines. A main ingredient in the production process is 8- by 10-foot sheets of stainless steel. The
=(a) Simulate stainless steel order arrivals and use for 20 weeks. (Begin the first week with a starting inventory of 0 stainless steel.) If an end-of-week inventory is ever negative, assume that
=(b) Should Pelnor add more storage area? If so, how much? If not, comment on the system.
=13-30 Management of the First Syracuse Bank is concerned about a loss of customers at its main office downtown. One solution that has been proposed is to add one or more drive-through teller
=(a) Simulate a 1-hour time period, from 1 p.m. to 2 p.m., for a single-teller drive-through.(b) Simulate a 1-hour time period, from 1 p.m. to
=2 p.m., for a single line of people waiting for next available teller in a two-teller system.(c) Conduct a cost analysis of the two options. Assume that the bank is open 7 hours per day and
=200 days per year.Observation Analysis 1: Interarrival Times for 1,000 Observations Time Between Arrivals (Minutes) Number of Occurrences 1 200 2 250 3 300 4 150 5 100
=1. What would you advise Alabama Air to do for the current reservation system based on the original call distribution?
=Create a simulation model to investigate the scenario. Describe the model carefully and justify the duration of the simulation, assumptions, and measures of performance.
=2. What are your recommendations regarding operator utilization and customer satisfaction if the airline proceeds with the advertising campaign?
=1. Use simulation to help you analyze this problem. State any assumptions that you are making about this situation to help clarify the problem.
=2. On a typical weekend day, how many tenants would have to wait more than an hour, and how much money would the company have to credit these tenants?
=1. Determine and comment on the overall yield (the number of batches that make it all the way through Furnace L divided by the number that started at Furnace A) of disc brakes at FB Badpoore.
=2. Determine the utilization of Furnace L.
=3. Suggest improvements to the system.
=1. Assuming exponential interarrival and service time dis tributions, set up a simulation model in Arena or anothersimulation environment.
=2. Is the mean and standard deviation of the waiting times obtained from the simulation close to the observed mean and standard deviation in Table 13.19?
=3. Provide a recommendation for the appropriate number of X-ray machines that will reduce the waiting time andqueue length of patients at the radiology department.
=(c) In case the dairy was planning to expand its butter churning and powder drying capacity, how much money should it invest in this expansion?
=(b) In case you were negotiating a contract with the state, what quantity of FA milk would you commit to supply?
=(a) It had no contractual obligations to supply FA milk to the state milk scheme.
=2. Let us assume that the dairy would be able to procure raw milk as under:Units per day May to August 10,000 Kg September to April 2,000 Kg In view of this supply position what should be the
=1. Should cheese be dropped from the product line as suggested by Ramaswami?
=2. Let us assume that the dairy will be able to procure raw milk as under:UNITS PER DAY May to August 10,000 Kg September to April 2,000 Kg
=1. Should cheese be dropped from the product line as suggested by Mr. Ramaswamy?
=3. How would the schedule change if the attrition rate could be lowered to 3% per month instead of 5%? What would be the impact on the cost?
=2. Discuss any limitations that exist for this solution.
=1. Develop a schedule for hiring new employees. What is the total cost of this schedule?
=Along each leg of this route, there is a minimum and a maximum amount of fuel that may be carried. This and additional information is provided in the table above.The regular fuel consumption is
=8-23 (Airline fuel problem) Coast-to-Coast Airlines is investigating the possibility of reducing the cost of fuel purchases by taking advantage of lower fuel costs in certain cities. Since fuel
=8-22 (Portfolio selection problem) Daniel Grady is the financial advisor for a number of professional athletes. An analysis of the long-term goals for many of these athletes has resulted in a
=8-21 A paper mill produces rolls of paper that are 10 inches wide and 100 feet long. These rolls are used for creating narrower rolls of paper that are used in cash registers, automatic teller
=8-20 In the Low Knock Oil Company blending problem, it was assumed that one barrel of crude would result in one barrel of gasoline as the final product. In processing one barrel of crude, a typical
=(e) Is the operating room being used to capacity?Is it possible to do more operations/year? If so, how many more? Discuss the effect of acquiring more operating room facilities if needed.(Source:
=(d) Is the x-ray facility being used to its maximum?Is it possible to do more x-rays/year? If so, how many more? Discuss the effect of acquiring more x-ray facilities if needed.
=(c) Are the laboratories being used to their capacity? Is it possible to perform more lab tests/year?If so, how many more? Discuss the effect of acquiring more lab space if needed.
=8-19 Prepare a written report to the CEO of Mt. Sinai Hospital in Problem 8-18 on the expansion of the hospital. Round off your answers to the nearest integer. The format of presentation of results
=8-18 (Hospital expansion problem) Mt. Sinai Hospital in New Orleans is a large, private, 600-bed facility, complete with laboratories, operating rooms, and x-ray equipment. In seeking to increase
=8-17 Refer to Problem 8-16. Find the cause of the difficulty and recommend how to adjust it. Then solve the problem again.
=8-16 (Material blending problem) Amalgamated Products has just received a contract to construct steel body frames for automobiles that are to be produced at the new Japanese factory in Tennessee.
=8-15 (Agricultural production planning problem) Margaret Black’s family owns five parcels of farmland broken into a southeast sector, north sector, northwest sector, west sector, and southwest
=8-14 (Nuclear plant staffing problem) South Central Utilities has just announced the August 1 opening of its second nuclear generator at its Baton Rouge, Louisiana, nuclear power plant. Its
=8-13 (High-tech production problem) Quitmeyer Electronics Incorporated manufactures the following six microcomputer peripheral devices: internal modems, external modems, graphics circuit boards,
=8-12 (College meal selection problem) Kathy Roniger, campus dietitian for a small Idaho college, is responsible for formulating a nutritious meal plan for students. For an evening meal, she feels
=8-11 (Pricing and marketing strategy problem) The I.Kruger Paint and Wallpaper Store is a large retail distributor of the Supertrex brand of vinyl wallcoverings. Kruger will enhance its citywide
=8-10 (High school busing problem) The Arden County, Maryland, superintendent of education is responsible for assigning students to the three high schools in his county. He recognizes the need to
=8-9 Management of Sundown Rent-a-Car (see Problem 8-8) has decided that perhaps the cost during the sixmonth period is not the appropriate cost to minimize because the agency may still be obligated
=8-8 (Automobile leasing problem) Sundown Rent-aCar, a large automobile rental agency operating in the Midwest, is preparing a leasing strategy for the next six months. Sundown leases cars from an
=8-7 (Media selection problem) The advertising director for Diversey Paint and Supply, a chain of four retail stores on Chicago’s North Side, is considering two media possibilities. One plan is for
=8-6 Eddie Kelly is running for reelection as mayor of a small town in Alabama. Jessica Martinez, Kelly’s campaign manager during this election, is planning the marketing campaign, and there is
=8-5 The Kleenglass Corporation makes a dishwasher that has excellent cleaning power. This dishwasher uses less water than most competitors, and it is extremely quiet. Orders have been received from
=8-4 (Animal feed mix problem) The Battery Park Stable feeds and houses the horses used to pull tourist-filled carriages through the streets of Charleston’s historic waterfront area. The stable
=8-3 (Restaurant work scheduling problem). The famous Y. S. Chang Restaurant is open 24 hours a day. Waiters and busboys report for duty at 3 a.m., 7 a.m., 11 a.m., 3 p.m., 7 p.m., or 11 p.m., and
=8-2 (Investment decision problem) The Heinlein and Krampf Brokerage firm has just been instructed by one of its clients to invest $250,000 of her money obtained recently through the sale of land
=8-1 (Production problem) Winkler Furniture manufactures two different types of china cabinets: a French Provincial model and a Danish Modern model. Each cabinet produced must go through three
=6. The selection of specific investments from among a wide variety of alternatives is the type of LP problem known asa. the product mix problem.b. the investment banker problem.c. the portfolio
=5. The diet problem isa. also called the feed mix problem in agriculture.b. a special case of the ingredient mix problem.c. a special case of the blending problem.d. all of the above.
=4. When applying LP to diet problems, the objective function is usually designed toa. maximize profits from blends of nutrients.b. maximize ingredient blends.c. minimize production losses.d.
= 3. Which of the following does not represent a factor manager might consider when employing LP for production scheduling:a. labor capacityb. space limitationsc. product demandd. risk assessmente.
= 2. Using LP to maximize audience exposure in an advertising campaign is an example of the type of LP application known asa. marketing research.b. media selection.c. portfolio assessment.d. media
=1. Linear programming can be used to select effective media mixes, allocate fixed or limited budgets across media, and maximize audience exposure.a. Trueb. False
2. Which of the following is a valid use of inventory?a. the decoupling functionb. to take advantage of quantity discountsc. to avoid shortages and stockoutsd. to smooth out irregular supply and
4. If the EOQ assumptions are met and a company orders the EOQ each time an order is placed, then thea. total annual holding costs are minimized.b. total annual ordering costs are minimized.c. total
12. In using marginal analysis, an additional unit should be stocked ifa. MP = ML.b. the probability of selling that unit is greater than or equal to MP/(MP + ML).c. the probability of selling that
6-2 What is the purpose of inventory control?
6-3 Under what circumstances can inventory be used as a hedge against inflation?
6-4 Why wouldn’t a company always store large quantities of inventory to eliminate shortages and stockouts?
6-5 What are some of the assumptions made in using the EOQ?

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