BUS AD 1107 Final

The domain of a function is all real numbers such that the output of the function is a real number.

True

The process of computing the derivative is called differentiation

True

Cross-industry standard process for data mining consists of six phases. Of the six which represents the phase where data wrangling occurs?

data preparation

If y=110-5x with y= product and x= price of product what happens to the demand of the price is increased by 3 units?

decreased by 15 units

The Daytona 500 runs 40 race cars. Of the 40, 19 cars crashed. This is a probability of 0.475 that a car will crash in the race. This is an example of which probability?

empirical

In a LP solution constraints with slack are called __________ constraints.

nonbinding

The first step in performing linear programming is

to formulate a problem into a series of mathematical expressions

Molly emailed her clients offering a free 30 minute massage for a referrals. In the following validation set of 100. Class 1 reflects the clients predicted to provide referrals and Class 0 reflects the clients predicted to not provide referrals. Based on the confusion matrix what was the true positive of current clients who provided referrals for a free massage?

18

Milton's Automotive Parts buys break lights for Ford Trucks from the manufacturer at $15 each and the company has $30 in daily labor associated with sales of the break lights. The brake lights sell for $30 each. What is the break even point?

2

The key distinction between supervised and unsupervised data mining is that the identification of the target variable is identified in supervised data mining.

True

The objective function is a mathematical representation of an objective.

True

The optimal solution to a linear programming problem can be found at the boundary or corner of the feasibility region in a graphic model.

True

The process of applying a set of analytical techniques for the development of machine learnings and artificial intelligence is called data mining

True

The shadow prices or dual price of a constraint is an indication of the change in the optimized value of an objective function in a one unit change in a binding constraint

True

Events are considered ________ if they include all outcomes in the sample space.

exhaustive

When a predictive model is made overly complex to fit in the quirks of given sample data, it is called _______.

overfitting

Numerical values that are associated with objective function, decision variables, and constraints are called ____________.

parameters

Which of the following is not an essential component of linear programming?

random

Which of the following is not another name for predictor variable?

sample variable

Tess is tasked with analyzing a data set with multiple variables with various scales. To reduce the difference in scale in variables she is following a common process called __________ to make the observations unit-free.

standardizing

Based on the following sensitivity results on constraints, how would an increase in machine hours impact the LP solution?

the hours can have an infinite increase without altering the solution.

For a function f(x) that is not linear, the rate of change is constant and conforms with x.

False

If the function f is differentiable at x=c, then f is increasing at x = c if f'(c) <0

False

The revenue is obtained from selling x units at unit price p(x) is the total cost divided by the number of units produced.

False

A __________________consists of a set of inputs and outputs and a rule. The rule must connect inputs and outputs such that for each input, there is exactly one corresponding output.

Function

Lane accessories has a growing demand for custom apple watch designer bands. The current manufacturing costs are $120 per hr to operate for each hour of operation 210 black band designs and 180 multi color designs are completed. However Lane found a new large manufacturing space that will cost $160 per hr and produce 325 black design bands and 289 multi color bands per hr completed. Lane has newly placed orders to restock other retail outlets nationwide for 6,000 black band designs and 5,000 multi color bands. Because Lane is out of inventory she needs to decide how many hours to operate each facility to fulfill orders while minimizing cost. Formulate the minimization function for production costs.

Production costs= 120x1 + 160x2

At taste of thyme coffee shop a dirty chai latte creates a profit point of $2.85 for a small and $3.80 for a large. In a month, 200 smalls lattes were sold and 285 large lattes. As a fast growing demand item with fall approaching the demand is estimated at 400 and 420 per month. The amount of machine times needed to produce the lattes is 5 minutes and 7 minutes each or for a month 16.67 hours a month for a small and 33.25 hours a month for a large. What is the maximization function for profit?

Profit= 2.85x1 + 3.80x2

According to the text, mathematical modeling is described in four stages. Match the modeling stage with the appropriate definition

Stage 1: Formulation- Given a real world situation we make enough simplifying assumptions to allow a mathematical formulation. Stage 2: Analysis of the model- We use mathematical methods to solve the mathematical model. A variety of tools, such as calculus, algebra, statistics, numerical analysis and computer methods may be brought to bear on a particular model. Stage 3: Interpretation- Any conclusions that may be drawn from the analysis are applied to the original real world problem Stage 4: Testing and adjustment- The model is tested by gathering new data to check the accuracy of any predictions inferred from the analysis. If the predictions are not confirmed byt he new evidence, the assumptions of the model are adjusted and the modeling process is repeated.

What is probability when a personal assessment is made without referencing data?

Subjective probability

Calculus is the mathematics of change, and the primary tool for studying change is a procedure called differentiation.

True

If f(x) gets closer and closer to a number L as x gets closer and closer to c from both sides, the L is the limit of f(x) as x approaches c.

True

Informally, we might say "the quality of coffee is a function of its price". Here we are saying that price uniquely defines the quality of coffee.

True

Limits describe the behavior of a function near a particular point, not necessarily at the point itself.

True

Normalization is the process that makes the numerical data independent of scale.

True

Oversampling involves intentionally selecting more samples from one class than from other classes to adjust the class distribution of a data set.

True

Prescriptive analytics is the process of using decision analysis tools to improve decision making.

True

The break-even point happens where cost is equal to revenue.

True

The process of dividing a data set into a training, a validation, and an optimal test data set is called.

data partitioning

Mutually exclusive events _____

have joint probability of zero

Two events are _____ if the occurrence of one event does not affect the probability occurrence of another.

independent

In a linear regression epsilon is

the random error

As a manager Mike uses linear programming to formulate a problem into a series of mathematical expressions. _________ refers to the choices or alternatives Mike selects to minimize or maximize the value of his goals.

Decision variables

Constraints with slack or surplus in the linear programming solutions are called binding constraints.

False

The average rate of change of function f on the interval [a,b] is the "slope" of a function between two points.

True