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Herbert J. Bernstein Professor of Mathematics and Computer Science
Dept. of Mathematics and Computer Science, 1300 William Floyd Parkway, Shirley, NY 11967

## 90103 MTH 1007 Operations Research -- Fall 2013 On Line Course Quiz 1

This web page is http://www.bernstein-plus-sons.com/.dowling/MTH1007F13/MTH1007_Quiz_1.html

This is the first quiz for MTH 1007 to be taken on Tuesday, 17 September 2013 after you have done the intial part of the first assignment.

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Please fill in the following information:

Name:

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Please answer the following questions on this form (or on a paper copy of this form).

1. Define the Z-score. Give a precise formula.

2. You toss a fair coin and get ten heads in a row. What is the probability of getting a head on the next toss.

3. Explain what a percentile is.

4. Explain the distinction between quantitative and qualitative models.

5. Explain what a template model is, and why why it may be useful.

6. Explain what a symbolic or logical model is.

7. Explain what a control chart is.

8. Given the sample weights 6.85, 6.75, 6.80, 6.83 and 6.78 ounces compute the mean, range and (estimated) standard deviation.

9. Explain what the central limit theory says and how it is used to set control limits.

10. What are fixed costs? Give a specific example.

11. What are variable costs? Give a specific example.

12. Give the Cost-Volume Profit Model formula for the break-even point.

13. Suppose you have a widget factory with fixed costs of \$80,000. Suppose the unit production cost for each widget is \$160. Suppose you can sell each widget for \$960. How many widgets do you need to sell to break even.

14. Under the assumptions of the prior question and that the demand for \$960 widgets is normally distrubuted with a mean of 80 units and a standard deviation of 10 units. Compute the probability of at least breaking even (being profitable). Compute the probability of having a loss.

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Revised 1 September 2013