OM Test Module B

7 September 2022
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24 test answers

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question
Decision variables that can only take on the value of 0 or 1 are called
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binary variables
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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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What is the name of the algorithm that solves linear programming problems of all​ sizes?
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simplex method
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In linear​ programming, what is another name for sensitivity​ analysis?
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postoptimality analysis
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Linear programming is a mathematical technique designed to help operations managers plan and make decisions necessary to allocate
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resources
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In linear​ programming, a solution that does not simultaneously satisfy all constraints is called an
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infeasible solution
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Which of the following is an approach to solving a linear programming minimization problem​ graphically?
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​​iso-cost
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The​ feed-mix problem from agricultural applications is a special case of the more general
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diet problem
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In linear​ programming, what are restrictions that limit the degree to which a manager can pursue an​ objective?
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constraints
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In a typical​ product-mix problem in linear​ programming, the objective is to
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maximize profit
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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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What are the four requirements of a linear programming​ problem?
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an​ objective, constraints,​ alternatives, and linearity
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If A​, B​, and C are​ variables, which of the following functions is NOT​ linear?
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ABC
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What is a mathematical expression in linear programming that maximizes or minimizes some​ quantity?
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objective function
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The graphical solution to a linear programming problem can only be used when there are two
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decision variables
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In a typical​ product-mix problem in linear​ programming, the variables are defined as
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the number of units of each product produced
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An optimal solution to a linear programming problem MUST lie
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at the intersection of at least two constraints
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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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Via​ computer, the simplex method methodically examines​ ________ to search for the optimal solution of an LP problem.
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corner points
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Which of the following would not be​ well-represented by a binary​ variable?
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How much money should we invest in this​ project?
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Which of the following is an approach to solving a linear programming minimization problem​ graphically?
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corner-point method
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What is the value of one additional unit of a scarce resource in​ LP?
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shadow price
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The​ product-mix, diet, and labor scheduling LP formulations typically have​ ________, ________, and​ ________ objectives, respectively.
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maximization, minimization, minimization
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Which of the following is NOT considered to be a resource for a​ firm?
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accounts payable