Essay on Ms6000 Midterm

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Title: Started: Submitted: Time spent: Midterm Exam March 14, 2011 1:11 PM March 14, 2011 3:40 PM 02:28:35 Total score adjusted by 0.0 Maximum possible score: 100

Total score: 99/100 = 99% Done 1-5 True/False Questions 1. MT T/F Q1

The break-even point is the volume that equates total revenue with total cost and profit is zero. Student Response True Score: 2/2 Value 100% Correct Answer True

2.

MT T/F Q2 Random variations component in a regression model are movements that are not predictable. Student Response True Score: 2/2 Value 100% Correct Answer True

3.

MT T/F Q3 Regression methods attempt to develop a mathematical relationship between the item being forecasted and factors that cause it to behave
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none of the above Score: 3/3 Value Correct Answer Feedback

9.

MT MC Q4 When comparing the mean values for five data sets where the number of observations is greater than 30 for each set, Student Value Response Correct Answer Feedback

A. you must use a ttest. B. you must decrease the sample size. C. you can use regression. D. you can 100% make use of ANOVA. Score: 3/3

10. MT MC Q5 Which one of the following techniques has a better chance of determining the optimal values of decision variables while optimizing profits with respect to the limitations provided. Student Response A. Tornado Charts B. Simulation C. Benchmarking D. Optimization Score: 100% 3/3 Value Correct Answer Feedback

11-14 Formulation/Solution/Analysis Questions 11. MT P1 Please refer to the attached Reed’s Raisin Company Case in your book to determine the total profit. Assume that the open market price of grapes is $0.30/lb. Student Response: Score: Total Profit = $448125 20/20

12. MT P2 Please refer to the Tissues database provided to review a transaction history describing more than 3700 purchases of facial tissues at a number of stores in a grocery chain over a period of several weeks. a. Compile a pivot table that gives a tabulation of total number of moves by brand (Kleenex, Charmin and so on) not by product. b. What is the total profit for Store 100? c. For store 100 determine if the average profit per product for weeks 383, 386 and 387 differ significantly from

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