Quiz 1
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School
Oklahoma City Community College *
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Course
2743
Subject
Industrial Engineering
Date
Feb 20, 2024
Type
docx
Pages
10
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Quiz 1 (ID 138425)
Due: Sat Sep 9 23:59 2023 . Until due: 4.0 days.
Question number 1.
Suppose you buy a piece of office equipment for USD 10,000. After 3 years you sell it for a scrap value of USD 1,000. The equipment is depreciated linearly over 3 years. The
rate of depreciation of the piece of equipment is
USD 3,000.00 per year
USD 4,500.00 per year
USD 9,000.00 per year
USD 2,250.00 per year
USD 3,333.33 per year
None of the above.
Question number 2.
A truck is worth USD 100,000.00 when purchased. It is depreciated linearly over 4 years
and has a scrap value of USD 6,000.00. A linear equation expressing the truck's book value at the end of
t
years is
None of the above.
Question number 3.
Suppose you buy a piece of office equipment for USD 9,000.00. After 6 years you sell it for a scrap value of USD 5,000.00. The equipment is depreciated linearly over 6 years. The value of the piece of equipment after 4 years is (rounded to the nearest whole dollar)
USD 5,000.00
USD 6,714.00
USD 8,467.00
USD 7,222.00
USD 6,333.00
None of the above.
Question number 4.
A company has fixed monthly costs of USD 100,000 and production costs on its product
of USD 26 per unit. The company sells its product for USD 62 per unit. The cost function, revenue function and profit function for this situation are
None of the above.
Question number 5.
A manufacturer has a monthly fixed cost of USD 40,000 and a production cost of USD 12 for each unit produced. The product sells for USD 23 per unit. If the manufacturer produces and sells 15,000 units one month, then his profit is
USD 305,000
USD 1,800,000
USD 140,000
USD 125,000
USD 3,450,000
None of the above.
Question number 6.
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A manufacturer has a monthly fixed cost of USD 30,000 and a production cost of USD 9
for each unit produced. The product sells for USD 17 per unit. If the manufacturer produces and sells 4,000 units per month, indicate whether he will have a profit, loss or break-even.
Profit
Break-even
Loss
None of the above.
Question number 7.
A manufacturer has a monthly fixed cost of USD 150,000 and a production cost of USD 50 for each unit produced. The product sells for USD 75 per unit. Find the break-even quantity.
1,200
2,000
2,500
450,000
6,000
None of the above.
Question number 8.
A manufacturer has a monthly fixed cost of USD 60,000 and a production cost of USD 20 for each unit produced. The product sells for USD 31 per unit. Find the break-even revenue.
USD 169,090.91
USD 1,176.47
USD 2,400.00
USD 1,935.48
USD 5,454.55
None of the above.
Question number 9.
A manufacturer has a monthly fixed cost of USD 60,000 and a production cost of USD 20 for each unit produced. The product sells for USD 31 per unit. Find the break-even point.
None of the above.
Question number 10.
Use the feasible set shown to deterimine which corner point minimizes the objective function
C
= 48
x
+ 26
y
.
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( 4 , 2 )
( 1 , 5 )
( 0 , 9 )
( 8 , 0 )
( 0 , 0 )
None of the above.
Question number 11.
Given the following linear programming problem, find the optimal solution.
Maximize
Subject to
4
x
+
y
≤ 4
2
x
+ 6
y
≤ 12
x
≥ 0
y
≥ 0
30
110
⁄
13
38
10
34
None of the above.
Question number 12.
A company produces two types of bicycles; mountain bikes and racing bikes. It takes 5 hours of assembly time and
7
⁄
2
hours of mechanical tuning time to produce a mountain bike. It takes 7 hours of assembly time and
11
⁄
4
hours of mechanical tuning time to produce a racing bike. The company has at most 28 hours of mechanical tuning labor per week and at most 198 hours of assembly labor per week. The company's profit is USD 120 for each mountain bike produced and USD 70 for each racing bike produced. The company wants to make as much money as possible. Let
x
= the number of mountain bikes they produce, and let
y
= the number of racing bikes they produce. Which of the following is the objective function for the problem?
Maximize
P
= 8400
xy
Minimize
P
= 120
x
+ 70
y
Maximize
P
= 120
x
+ 70
y
Maximize
P
= 70
x
+ 120
y
Minimize
P
= 70
x
+ 120
y
None of the above.
Question number 13.
A company produces two types of nutritional supplements; Energize and Excel
. Energize contains 36 mg of vitamin A, 45 mg of vitamin C and 28 mg of an herbal supplement. Excel contains 62 mg of vitamin A, 83 mg of vitamin C and 16 mg of the herbal supplement
. An athlete is told that he needs at least 504 mg of vitamin A, 1195 mg of vitamin C and 382 mg of the herbal supplement for optimal athletic performance. The athlete wants to take the supplements, but at the lowest possible cost. Energize pills cost 80 cents each, while Excel pills cost 140 cents each. Let
x
= the number of
Energize pills to take, and let
y
= the number of Excel pills to take. What are the constraints for this problem? 36
x
+ 62
y
≥ 504, 45
x
+ 83
y
≤ 1195, 28
x
+ 16
y
≥ 382,
x
≥ 0,
y
≥ 0
36
x
+ 62
y
≤ 504, 62
x
+ 83
y
≤ 1195, 28
x
+ 16
y
≤ 382,
x
≥ 0,
y
≥ 0
36
x
+ 62
y
≥ 504,
45
x
+ 83
y
≥ 1195,
28
x
+ 16
y
≥ 382,
x
≥ 0,
y
≥ 0
36
x
+ 45
y
≥ 504, 62
x
+ 83
y
≥ 1195, 28
x
+ 16
y
≥ 382,
x
≥ 0,
y
≥ 0
36
x
+ 62
y
≤ 504, 45
x
+ 83
y
≥ 1195, 28
x
+ 16
y
≤ 382,
x
≥ 0,
y
≥ 0
None of the above.
Question number 14.
A certain academic department at a local university will conduct a research project. The department will need to hire graduate research assistants and professional researchers.
Each graduate research assistant
will need to work 22 hours
per week on fieldwork and 18 hours
per week at the university's research center.
Each professional researcher will need to work 11 hours
per week on fieldwork and 29 hours
per week at the university's research center
. The minimum number of hours needed per week for
fieldwork is 152 and the minimum number of hours needed per week at the research center is 130.
Each research assistant
will be paid USD 248 per week and each professional researcher
will be paid USD 466 per week. Let
x
denote the number of graduate research assistants hired and let
y
denote the number of professional researcher hired
. The department wants to minimize cost. Set up the Linear Programming Problem for this situation.
Min C = 248
x
+ 466
y
;
s.t
22
x
+ 11
y
≥ 152,
18
x
+ 29
y
≥ 130,
x
≥ 0,
y
≥ 0
Min C = 466
x
+ 248
y
; s.t 11
x
+ 22
y
≥ 152, 29
x
+ 18
y
≥ 130,
x
≥ 0,
y
≥ 0
Min C = 466
x
+ 248
y
; s.t 22
x
+ 18
y
≥ 152, 11
x
+ 29
y
≥ 130,
x
≥ 0,
y
≥ 0
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Min C = 248
x
+ 466
y
; s.t 22
x
+ 11
y
≥ 152, 29
x
+ 18
y
≥ 130,
x
≥ 0,
y
≥ 0
Min C = 248
x
+ 466
y
; s.t 11
x
+ 22
y
≤ 130, 29
x
+ 18
y
≤ 152,
x
≥ 0,
y
≥ 0
None of the above.