Posted: January 16th, 2017

MAE and MSE for a given set of data will be a. about the same for all data since they are both positive b. different since one is square of the other c. different in general, though both will be positive d. different in general, though both will be negative 20. To select a value for alpha when using exponential smoothing a. use a small alpha when the series varies substantially. b. use a large alpha when the series has little random variability. c. use a value between 0 and 1 d. All of the alternatives are true. 21. A company produces the financial results shown in the table below. The executives at the firm have good reason to believe that $10 million in sales will be generated in 2010. Using simple linear regression, you advise them that this will equate to… Year Sales Totals (in millions) Profit Totals (in millions) 1998 $7.0 $0.15 1999 $2.0 $0.10 2000 $6.0 $0.13 2001 $4.0 $0.15 2002 $14.0 $0.25 2003 $15.0 $0.27 2004 $16.0 $0.24 2005 $12.0 $0.20 2006 $14.0 $0.27 2007 $20.0 $0.44 2008 $15.0 $0.34 2009 $7.0 $0.17 a. $209,600 in profits. b. $2,096,000 in profits. c. $186,900 in profits. d. $1,869,000 in profits. 22. When the CEO asks you how sure you are of the accuracy of the result provided in Problem #21 above, you show her the r-squared value and respond… a. “54% sure.” b. “67% sure.” c. “84% sure.” d. “93% sure.” 23. Given the following linear programming problem with two non-negative variables (X1 and X2 ), find the range of feasibility for the RHS of the second constraint shown below (hint: both constraints are binding) Max: Constraints: Variables are non-negative a. [52,780] b. [62.4,90] c. [52,62.4] d. [62.4,780] 24. In a transportation problem with 5 supply points, 3 demand points, and total supply equaling total demand, the number of decision variables will be a. 5 b. 8 c. 15 d. 125 25. In the linear programming formulation of the transportation problem, cost of transporting one unit of the material from a supply point to a demand point appears in a. the objective function only b. the constraints only c. both objective function and constraints d. neither objective function nor constraints

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