INFO 564: Summer 2018 Operations and Supply Chain Management1) Productivity can be improved bya. increasing inputs while holding outputs steadyb. decreasing outputs while holding inputs steadyc. increasing inputs and outputs in the same proportiond. decreasing inputs while holding outputs steadye. none of the above2) The decision criterion that would be used by an optimistic decision maker solving a problemunder conditions of uncertainty would be thea.expected (monetary) value criterion b. minimax regret criterionc.maximax criteriond. maximin criterion3) Basic break-even analysis typically assumes thata.revenues increase in direct proportion to the volume of production, while costsincrease at a decreasing rate as production volume increasesb.variable costs and revenues increase in direct proportion to the volume ofproductionc.both costs and revenues are made up of fixed and variable portionsd.costs increase in direct proportion to the volume of production, while revenuesincrease at a decreasing rate as production volume increases because of the need to givequantity discountse.All of the above are assumptions in the basic break-even model.4) An investor is considering 4 investments, A, B, C and leaving his money in the bank. Thepayoff from each investment is a function of the economic climate over the next 2 years. Theeconomy can expand or decline. The following payoff matrix has been developed for thedecision problem.EconomyInvestmentDe ...
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