Question 1

Calculate the annual inventory costs for the following data.

Accepted Answer

The answer of Calculate the annual inventory costs for the...

Question 2

In the GRG algorithm the initial solution is called the

Accepted Answer

A) originating point. 
B) insertion point. 
C) zero point. 
D) starting point. 
A) originating point. 
B) insertion point. 
C) zero point. 
D) starting point.

Question 3

An office supply company is attempting to determine the order quantity for Mt. White fountain pens which are sold to local executives. Annual demand is 5,000 units and each pen costs the store $50. It costs $75 to place an order and the inventory carrying cost rate is 30% of the value of the item.
Formulate the objective function for this problem. Let Q indicate the order quantity.

Accepted Answer

MIN: 5000

Question 4

An investor is developing a portfolio of stocks. She has identified 3 stocks to invest in. She wants to earn at least 5% return but with minimum risk. The problem data is given in the following Excel spreadsheet. What formula should be entered in cell H11 of the Excel spreadsheet?

Accepted Answer

A) =SUMPRODUCT(B15:D15,G9:I9) 
B) =SUMPRODUCT(B15:D15,B4:D13) 
C) =SUMPRODUCT(B15:D15,I9) 
D) =SUMPRODUCT(B15:D15,G4:I6) 
A) =SUMPRODUCT(B15:D15,G9:I9) 
B) =SUMPRODUCT(B15:D15,B4:D13) 
C) =SUMPRODUCT(B15:D15,I9) 
D) =SUMPRODUCT(B15:D15,G4:I6)

Question 5

In NLP a local optimum is best described as

Accepted Answer

A) an interior point. 
B) a corner point. 
C) a point yielding no improving direction. 
D) a good starting point for subsequent searches. 
A) an interior point. 
B) a corner point. 
C) a point yielding no improving direction. 
D) a good starting point for subsequent searches.

Question 6

The following questions pertain to the problem and spreadsheet below.
A company makes products A and B from 2 resources, labor and material. The company wants to determine the selling price which will maximize profits. A unit of A costs 25 to make and demand is estimated to be 20 - .10 * Price of A. A unit of B costs 18 to make and demand is estimated to be 30 - .07 * Price of B. The utilization of labor and materials and the available quantity of resources is shown in the table. A reasonable price for the products is between 100 and 200.
   Let XS1U1B11S1U1B0 = demand for As and XS1U1B12S1U1B0 = demand for Bs.
Let PS1U1B11S1U1B0 = price for As and PS1U1B12S1U1B0 = price for Bs
  
-Refer to Exhibit 8.1. What formula is used in cell B7 of the spreadsheet for this problem?

Accepted Answer

A) = 30 - .07 * C3 
B) = 20 -  .1 * B3 
C) = B3 -B4 
D) = B5 * B7 + C5 * C7 
A) = 30 - .07 * C3 
B) = 20 -  .1 * B3 
C) = B3 -B4 
D) = B5 * B7 + C5 * C7

Question 7

The main difference between LP and NLP problems is that NLPs will have a

Accepted Answer

A) linear objective function and nonlinear or linear constraints. 
B) minimum of one nonlinear constraint or a nonlinear objective function. 
C) multilevel objective functions. 
D) multilevel objective function and nonlinear constraints. 
A) linear objective function and nonlinear or linear constraints. 
B) minimum of one nonlinear constraint or a nonlinear objective function. 
C) multilevel objective functions. 
D) multilevel objective function and nonlinear constraints.

Question 8

The Reduced Gradient is similar to which of these terms from linear programming?

Accepted Answer

A) Shadow Price 
B) Allowable Decrease 
C) Allowable Increase 
D) Reduced Cost 
A) Shadow Price 
B) Allowable Decrease 
C) Allowable Increase 
D) Reduced Cost

Question 9

Which point or points are global optima in this diagram? The dashed line represents the objective function and the objective is to maximize the value of the objective function.

Accepted Answer

A) B 
B) D 
C) E 
D) F 
A) B 
B) D 
C) E 
D) F

Question 10

The GRG and Simplex algorithms are similar in that

Accepted Answer

A) each algorithm process continues until there is no further improvement in the objective function. 
B) both algorithms take their starting solution from the spreadsheet. 
C) both return the globally optimal solution. 
D) both algorithms return a solution that satisfies at least one constraint at equality. 
A) each algorithm process continues until there is no further improvement in the objective function. 
B) both algorithms take their starting solution from the spreadsheet. 
C) both return the globally optimal solution. 
D) both algorithms return a solution that satisfies at least one constraint at equality.

Question 11

A company wants to locate a new warehouse to minimize the distance travelled by its delivery trucks. It has four stores and their coordinates are listed in the below.
   Formulate the objective function for this problem. Let X and Y represent the X, Y coordinates of the new warehouse.

Accepted Answer

The answer of A company wants to locate a new...

Question 12

The following questions pertain to the problem and spreadsheet below.
A company makes products A and B from 2 resources, labor and material. The company wants to determine the selling price which will maximize profits. A unit of A costs 25 to make and demand is estimated to be 20 - .10 * Price of A. A unit of B costs 18 to make and demand is estimated to be 30 - .07 * Price of B. The utilization of labor and materials and the available quantity of resources is shown in the table. A reasonable price for the products is between 100 and 200.
   Let XS1U1B11S1U1B0 = demand for As and XS1U1B12S1U1B0 = demand for Bs.
Let PS1U1B11S1U1B0 = price for As and PS1U1B12S1U1B0 = price for Bs
  
-Refer to Exhibit 8.1. What formula is used in cell B9 of the spreadsheet for this problem?

Accepted Answer

A) =B3*B7+C3*C7 
B) =B5*B7+C5*C7 
C) =(B5-B4)*B7+(C5-C4)*B7 
D) =B3*B7+C3*B7+B4*B7+C4*B7 
A) =B3*B7+C3*C7 
B) =B5*B7+C5*C7 
C) =(B5-B4)*B7+(C5-C4)*B7 
D) =B3*B7+C3*B7+B4*B7+C4*B7

Question 13

An investor is developing a portfolio of stocks. She has identified 3 stocks in which to invest. She wants to earn at least 11% return but with minimum risk.
Let: Pi  = proportion of total funds invested in i, i = A, B, C
The NLP for this problem is:
   What formulas should go in cells G4:J14 of the spreadsheet for this problem? NOTE: Formulas are not required in all of these cells.

Accepted Answer

Question 14

What is the straight line (Euclidean) distance between the points (5,7) and (1, 11)?

Accepted Answer

A) 2.83 
B) 5.65 
C) 8 
D) 16 
A) 2.83 
B) 5.65 
C) 8 
D) 16

Question 15

The optimal solution to a NLP problem can occur at a(n)

Accepted Answer

A) I is true 
B) II is true 
C) I and II are true 
D) neither I or II is true 
A) I is true 
B) II is true 
C) I and II are true 
D) neither I or II is true

Question 16

A company wants to locate a new warehouse to minimize the longest distance travelled by any of its delivery trucks. It has four stores and their coordinates are listed in the below.
   Formulate the NLP for this problem. Let X and Y represent the X, Y coordinates of the new warehouse.

Accepted Answer

The answer of A company wants to locate a new...

Question 17

How much must the objective function coefficient of the variable Pumpkin change before any Pumpkins are produced based on the following sensitivity report?

Accepted Answer

A) increase by 12 
B) decrease by 12 
C) increase by 499.99 
D) decrease by 499.99 
A) increase by 12 
B) decrease by 12 
C) increase by 499.99 
D) decrease by 499.99

Question 18

A company makes products A and B from 2 resources, labor and material. The company wants to determine the selling price which will maximize profits. A unit of product A costs 25 to make and demand is estimated to be 20 - .10 * Price of A. A unit of product B costs 18 to make and demand is estimated to be 30 - .07 * Price of B. The utilization of labor and materials and the available quantity of resources is shown in the table. A reasonable price for the products is between 100 and 200.  
 Let X1 = demand for As and X2 = demand for Bs.
Let P1 = price for As and P2 = price for Bs.
The objective function for this problem is?

Accepted Answer

A) MAX 25 X1 + 18 X2 
B) MAX (20 -0.10*P1) X1 + (30 - 0.07*P2) X2 
C) MAX 20 P1 - 0.1 P12 + 30 P2 - 0.07 P22 - 1040 
D) MAX 22.5 P1 - 0.1 P12 + 31.26 P2 - 0.07 P22 - 1040 
A) MAX 25 X1 + 18 X2 
B) MAX (20 -0.10*P1) X1 + (30 - 0.07*P2) X2 
C) MAX 20 P1 - 0.1 P12 + 30 P2 - 0.07 P22 - 1040 
D) MAX 22.5 P1 - 0.1 P12 + 31.26 P2 - 0.07 P22 - 1040

Question 19

How much are additional units of labor worth based on the following sensitivity report?

Accepted Answer

The answer of How much are additional units of labor...

Question 20

The Risk Solver Platform (RSP) solution strategy for NLP problems is the GRG method. What does GRG stand for?

Accepted Answer

A) Graphical Residual Gradient 
B) Generalized Reduced Gradient 
C) Goal Restricted Gradient 
D) Gradually Reduced Gradient 
A) Graphical Residual Gradient 
B) Generalized Reduced Gradient 
C) Goal Restricted Gradient 
D) Gradually Reduced Gradient

Calculate the annual inventory costs for the following data.

In the GRG algorithm the initial solution is called the

An investor is developing a portfolio of stocks. She has identified 3 stocks to invest in. She wants to earn at least 5% return but with minimum risk. The problem data is given in the following Excel spreadsheet. What formula should be entered in cell H11 of the Excel spreadsheet?

In NLP a local optimum is best described as

The main difference between LP and NLP problems is that NLPs will have a

The Reduced Gradient is similar to which of these terms from linear programming?

Which point or points are global optima in this diagram? The dashed line represents the objective function and the objective is to maximize the value of the objective function.

The GRG and Simplex algorithms are similar in that

A company wants to locate a new warehouse to minimize the distance travelled by its delivery trucks. It has four stores and their coordinates are listed in the below. Formulate the objective function for this problem. Let X and Y represent the X, Y coordinates of the new warehouse.

What is the straight line (Euclidean) distance between the points (5,7) and (1, 11)?

The optimal solution to a NLP problem can occur at a(n)

A company wants to locate a new warehouse to minimize the longest distance travelled by any of its delivery trucks. It has four stores and their coordinates are listed in the below. Formulate the NLP for this problem. Let X and Y represent the X, Y coordinates of the new warehouse.

How much must the objective function coefficient of the variable Pumpkin change before any Pumpkins are produced based on the following sensitivity report?

How much are additional units of labor worth based on the following sensitivity report?

The Risk Solver Platform (RSP) solution strategy for NLP problems is the GRG method. What does GRG stand for?

Introduction to Modeling and Decision Analysis

Introduction to Optimization and Linear Programming

Modeling and Solving Lp Problems in a Spreadsheet

Sensitivity Analysis and the Simplex Method

Network Modeling

Integer Linear Programming

Goal Programming and Multiple Objective Optimization

Regression Analysis

Discriminant Analysis

Time Series Forecasting

Introduction to Simulation Using Risk Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters

Exam 8: Nonlinear Programming and Evolutionary Optimization

Calculate the annual inventory costs for the following data.

In the GRG algorithm the initial solution is called the

An investor is developing a portfolio of stocks. She has identified 3 stocks to invest in. She wants to earn at least 5% return but with minimum risk. The problem data is given in the following Excel spreadsheet. What formula should be entered in cell H11 of the Excel spreadsheet?

In NLP a local optimum is best described as

The main difference between LP and NLP problems is that NLPs will have a

The Reduced Gradient is similar to which of these terms from linear programming?

Which point or points are global optima in this diagram? The dashed line represents the objective function and the objective is to maximize the value of the objective function.

The GRG and Simplex algorithms are similar in that

A company wants to locate a new warehouse to minimize the distance travelled by its delivery trucks. It has four stores and their coordinates are listed in the below. Formulate the objective function for this problem. Let X and Y represent the X, Y coordinates of the new warehouse.

What is the straight line (Euclidean) distance between the points (5,7) and (1, 11)?

The optimal solution to a NLP problem can occur at a(n)

A company wants to locate a new warehouse to minimize the longest distance travelled by any of its delivery trucks. It has four stores and their coordinates are listed in the below. Formulate the NLP for this problem. Let X and Y represent the X, Y coordinates of the new warehouse.

How much must the objective function coefficient of the variable Pumpkin change before any Pumpkins are produced based on the following sensitivity report?

How much are additional units of labor worth based on the following sensitivity report?

The Risk Solver Platform (RSP) solution strategy for NLP problems is the GRG method. What does GRG stand for?

Introduction to Modeling and Decision Analysis

Introduction to Optimization and Linear Programming

Modeling and Solving Lp Problems in a Spreadsheet

Sensitivity Analysis and the Simplex Method

Network Modeling

Integer Linear Programming

Goal Programming and Multiple Objective Optimization

Regression Analysis

Discriminant Analysis

Time Series Forecasting

Introduction to Simulation Using Risk Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters