Comments Question 2 Question Data for a particular subdivis

Comments:

Question 2.

Question :

Data for a particular subdivision near downtown Houston indicate that the average price per square foot for a home is $100 with a standard deviation of $5 (normally distributed). What is the probability that the average price per square foot for a home is greater than $90?

Student Answer:

0.977

0.023

0

0.159

None of the above

Comments:

Question 3.

Question :

Which of the following is not classified as a qualitative forecasting model?

Student Answer:

Sales force composite

Delphi method

Jury of executive opinion

Consumer market survey

Exponential smoothing

Comments:

Question 4.

Question :

Inventory:

Student Answer:

levels for finished goods are a direct function of demand.

includes raw materials, work-in-process, and finished goods.

is any stored resource used to satisfy current or future need.

needs from raw materials through finished goods can be reasonably determined, once finished goods demand is determined.

all of the above

Comments:

Question 5.

Question :

Mark Achin sells 3,600 electric motors each year. The cost of these is $200 each, and demand is constant throughout the year. The cost of placing an order is $40, while the holding cost is $20 per unit per year. There are 360 working days per year and the lead-time is 5 days. If Mark orders 200 units each time he places an order, what would his average inventory be (in units)?

Student Answer:

100

200

120

60

None of the above

Comments:

Question 6.

Question :

Consider the linear programming problem.The maximum possible value for the objective function is:

Student Answer:

1520.

1560.

360.

480.

None of the above

Comments:

Question 9.

Question :

Transportation models can be used for which of the following decisions?

Student Answer:

portfolio selection

facility location

media selection

employee shift scheduling

production mix

Comments:

Question 10.

Question :

The R-chart would be useful when we:

Student Answer:

took a number of measurements and computed the ranges.

took a number of measurements and computed the average.

found the number of defective items in a production lot.

found the fraction of the production lot defective.

none of the above

Comments:

Question 11.

Question :

Golden Oldies, an online music store specializing in classic rock \'n roll, developed an algorithm that predicts what albums, posters, and books will appeal to a buyer based on the answers to a few questions about the 1960s. What part of the marketing mix is Golden Oldies employing?

Student Answer:

Product

Price

Promotion

People

Process

Comments:

Question 13.

Question :

The set of marketing tools a firm uses to implement its marketing strategy is called the ____________.

Student Answer:

promotion mix

product mix

marketing mix

market offering

marketing effort

.

Comments:

Solution

question 2:- 0.159

question 3:- consumer market survey

question 13:- marketing mix

question 11-Promotion

question 10:-found the fraction of the production lot defective.