Exam 13: Linear Optimization

What are the two basic properties of a linear optimization model?

An unbounded problem is one for which ________.

Use the following information to answer the question(s)below. Cerebro Manufacturing produces four types of structural support fittings-plugs, rails, rivets, and clips-which are machined on two CNC machining centers.The machining centers have a capacity of 250,000 minutes per year.The gross margin per unit and machining requirements are shown in the spreadsheet below. -What is the total profit generated from the manufacture of rivets?

What is the importance of Shadow Price in the Sensitivity Report?

Whenever a constraint has positive slack, the shadow price is equal to one.

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -What is the Allowable Increase in the finishing hours used?

A binding constraint is one for which the Cell Value is greater than the right-hand side of the value of the constraint.

Which of the following solving methods is selected in the Solver dialog for linear and linear integer optimization problems?

Which of the following best defines constraints in an optimization problem?

Use the following information to answer the question(s)below. Cerebro Manufacturing produces four types of structural support fittings-plugs, rails, rivets, and clips-which are machined on two CNC machining centers.The machining centers have a capacity of 250,000 minutes per year.The gross margin per unit and machining requirements are shown in the spreadsheet below. -Which of the following options is used if Solver gives an error message that linearity is not satisfied?

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -What is the total number of hours used for the finishing operation?

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -What is the total number of hours used for fabrication?

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -If the unit profit on both Graystone and Lava surfboards is increased by $10, what is the total profit generated?

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -If the unit profit on both Graystone and Lava surfboards is increased by $10, what is the shadow price for the finishing hours used?

An infeasible problem is one for which ________.

Any solution that satisfies all constraints of a problem is called a feasible solution.

Infeasible problems can occur when the demand requirement is higher than the available capacity.

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -What is the Allowable Increase for Lava surfboards produced?

What are the four possible outcomes that can be obtained by solving a linear optimization model?

Explain the simplex method used by Solver.