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Multiple Choice Questions
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In linear programming, choices available to a decision maker are called
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decision variables
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.decision variables
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postoptimality analysis
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infeasible solution
What is a mathematical expression in linear programming that maximizes or minimizes some quantity?
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infeasible solution
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simplex method
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decision variables
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objective function
An optimal solution to a linear programming problem MUST lie
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the number of units of each product produced
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How much money should we invest in this project?
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an objective, constraints, alternatives, and linearity
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at the intersection of at least two constraints
If A, B, and C are variables, which of the following functions is NOT linear?
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maximize profit
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the number of units of each product produced
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shadow price
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ABC
Linear programming is a mathematical technique designed to help operations managers plan and make decisions necessary to allocate
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corner points
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iso-cost
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constraints
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resources
The product-mix, diet, and labor scheduling LP formulations typically have ________, ________, and ________ objectives, respectively.
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the number of units of each product produced
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maximization, minimization, minimization
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diet problem
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How much money should we invest in this project?
Which of the following is NOT considered to be a resource for a firm?
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binary variables
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corner-point method
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accounts payable
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shadow price
The graphical solution to a linear programming problem can only be used when there are two
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binary variables
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decision variables
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maximize profit
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.decision variables
In linear programming, what are restrictions that limit the degree to which a manager can pursue an objective?
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infeasible solution
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postoptimality analysis
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corner points
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constraints
In a typical product-mix problem in linear programming, each general constraint states that
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the amount of a resource used less than or equals the amount of resource available.
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the number of units of each product produced
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maximize profit
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at the intersection of at least two constraints
What are the four requirements of a linear programming problem?
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How much money should we invest in this project?
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at the intersection of at least two constraints
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an objective, constraints, alternatives, and linearity
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shadow price
In a typical product-mix problem in linear programming, the variables are defined as
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the amount of a resource used less than or equals the amount of resource available.
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at the intersection of at least two constraints
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maximize profit
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the number of units of each product produced
What is the name of the algorithm that solves linear programming problems of all sizes?
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accounts payable
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shadow price
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objective function
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simplex method
Two or more products are produced using limited resources. The firm would like to determine how many units of each product it should produce to maximize overall profit given its limited resources.This situation describes what type of problem in linear programming?
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product-mix
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iso-cost
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shadow price
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constraints
What is the value of one additional unit of a scarce resource in LP?
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accounts payable
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shadow price
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binary variables
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simplex method
In linear programming, what is another name for sensitivity analysis?
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postoptimality analysis
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constraints
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.decision variables
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infeasible solution
Decision variables that can only take on the value of 0 or 1 are called
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shadow price
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decision variables
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accounts payable
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binary variables
In linear programming, a solution that does not simultaneously satisfy all constraints is called an
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.decision variables
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infeasible solution
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postoptimality analysis
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constraints
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