QM 352 Module B

7 September 2022
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question
Which of the following is an approach to solving a linear programming minimization problem graphically?
answer
Iso-cost or corner-point method
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In a typical‚Äč product-mix problem in linear‚Äč programming, each general constraint states that
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the amount of a resource used less than or equals‚ȧthe amount of resource available.
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Via‚Äč computer, the simplex method methodically examines‚Äč ________ to search for the optimal solution of an LP problem.
answer
corner points
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What tool does American Airlines use to schedule‚Äč flights?
answer
linear programming
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What is a mathematical expression in linear programming that maximizes or minimizes some‚Äč quantity?
answer
objective function
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In linear‚Äč programming, a solution that does not simultaneously satisfy all constraints is called an
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infeasible soultion
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If A‚Äč, B‚Äč, and C are‚Äč variables, which of the following functions is NOT‚Äč linear?
answer
ABC
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In linear‚Äč programming, what is another name for sensitivity‚Äč analysis?
answer
postoptimality analysis
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The‚Äč feed-mix problem from agricultural applications is a special case of the more general
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diet problem
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Which of the following is NOT considered to be a resource for a‚Äč firm?
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accounts payable
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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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Which of the following statements about linear programming is NOT‚Äč correct?
answer
Minimization problems are often unbounded inward.
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Which company developed VOLCANO‚Äč (Volume, Location, and Aircraft Network‚Äč Optimization), an‚Äč LP-based optimization‚Äč system?
answer
UPS
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What of the following statements about LP sensitivity analysis is NOT‚Äč true?
answer
Sensitivity information applies to simultaneous changes in several input data values.
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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‚Äč programming?
answer
Product-mix
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In linear‚Äč programming, what are restrictions that limit the degree to which a manager can pursue an‚Äč objective?
answer
constraints
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In a typical‚Äč product-mix problem in linear‚Äč programming, the objective is to
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maximize profit
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In linear‚Äč programming, choices available to a decision maker are called
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decision variables
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Which of the following would likely NOT represent an application of linear programming in operations‚Äč management?
answer
allocating space for a tenant mix in a new shopping mall so as to minimize revenues to the leasing company
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In linear‚Äč programming, what is a numerical value that is given in a‚Äč model?
answer
parameter
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What are the four requirements of a linear programming‚Äč problem?
answer
an‚Äč objective, constraints,‚Äč alternatives, and linearity
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The‚Äč product-mix, diet, and labor scheduling LP formulations typically have‚Äč ________, ________, and‚Äč ________ objectives, respectively.
answer
‚Äčmaximization, minimization, minimization
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What is the name of the algorithm that solves linear programming problems of all‚Äč sizes?
answer
simplex method
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In a typical‚Äč product-mix problem in linear‚Äč programming, the variables are defined as
answer
the number of units of each product produced.
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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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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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What is the value of one additional unit of a scarce resource in‚Äč LP?
answer
shadow price