Exam 9: Optimization and Simulation Modeling

Companies have little downside with experimenting with new procedures on actual customers.

Uniformly distributed random numbers cannot easily be translated to other specific distributions.

Identify and briefly describe the five main components of a linear programming problem.

Recently developed simulation programs are generally easy to use,but require an understanding of logic and statistics.

Briefly describe the graphical method of solving a linear programming problem.

The sensitivity analysis can help a manager to estimate the value of obtaining additional resources.

For the following sensitivity report,what is the range that the decision variable for product X is valid? What is the range that the decision variable for product Y is valid? What is the range that constraint A is valid? What is the range that constraint B is valid?

Animated computer simulations allow users to quickly create and evaluate them without actually changing the real operations system.

Draw the feasible region if at least 200 units of product A are required and at least 100 units of product B are required by a company.

The graphical solution to a linear programming problem can be used when there are how many decision variables?

Sam's Sawmill makes two products.One product is a wood bench (B)and the other product is a wood stool (S).Sam has a sawmill,so having the right material on hand is never a problem.However,production is limited.Sam's brother Chris is the carpenter,and he cannot work more than 240 hours a month.It takes Chris 4 hours to make a bench and 3 hours to make a stool.Sam had a limited budget,so he installed a small paint booth for staining the products.Sam does the painting,but he only has 100 hours a month available.It takes Sam 2 hours to paint a bench and 1 hour to paint a stool.Sam makes $7 for every bench and $5 profit for every stool. What are the constraints for Sam's Sawmill in terms of Chris's time and Sam's time?

Which of the following is not a technique similar to linear programming?

A nonnegativity constraint should never be applied to a linear programming optimization problem.

Three stores are supplied from three distribution centers.Shipping costs,store demand,and distribution center (DC)capacity are shown in the following table.

The shadow price for a constraint is the amount the objective function will increase if one more unit of the constraint is obtained.