Donald Duck is trying to decide whether he should purchase a small, medium, or large new bus for the Mickey Mouse Club House. He estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, medium, or high, as follows: If he feels the chances of low, medium, and high demand are 30 percent, 30 percent, and 40 percent respectively, what is the expected annual profit for the bus that he will decide to purchase?

The time between failures for an electrical appliance is exponentially distributed with a mean of 25 months. What is the probability that the next failure will not occur before 30 months have elapsed?

The type of layout in which workers, materials, and equipment are moved to the product as needed is:

Capacity in excess of expected demand that is intended to offset uncertainty is a:

If a single optimal solution exists to a graphical LP problem, it will exist at a corner point.

The value of an objective function decreases as it is moved away from the origin.

Capacity decisions often involve a long-term commitment of resources which, when implemented, are difficult or impossible to modify without major added costs.

When choosing a forecasting technique, a critical trade-off that must be considered is that between:

The time between failures for an electrical appliance is exponentially distributed with a mean of 25 months. What is the probability that the next failure will not occur before 30 months have elapsed?

There are three basic process types: input, processing, and output.