BSOP 209 Week 4 Quiz – Waiting Line Models and Linear Programming
1. TCO 6) What is the first step in solving a break-even analysis using a graphic approach?
2. (TCO 7) Define NPV
3. (TCO 9) What limits the use of a graphical solution to LP
4. (TCO 8) What are the three parts of a wait-line system?
5. TCO 8) In reference to queuing, what is a limited or finite population?
6. (TCO 8) What does FIFO mean?
7. (TCO 8) Describe or define a negative exponential-probability distribution
8. (TCO 8) Which waiting-line model has a dependent relationship between the length of the queue and the arrival rate?
9. (TCOs 6 and 7) XYZ plating is going ahead on an expansion project. They will be able to earn $300 per hour and run 3,000 hours per year. What is the net present value for the next five years with an interest rate of 6%?
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