Question 1

Strict inequalities ()are not used in optimization problems.

Accepted Answer

A) True 
 B)False

Question 2

Testing of the LP model should include __________ and _____________.

Accepted Answer

A) extreme case,base case 
B) extreme case,test values 
C) base case,minimum value 
D) base case,test values 
E) test value,maximum value 
A) extreme case,base case 
B) extreme case,test values 
C) base case,minimum value 
D) base case,test values 
E) test value,maximum value

Question 3

Human intelligence is not needed in which of the following steps of solving optimization problems?

Accepted Answer

A) writing the problem formulation in words 
B) writing the algebraic formulation of the problem 
C) developing a spreadsheet model 
D) solving the problem 
E) interpreting the results 
A) writing the problem formulation in words 
B) writing the algebraic formulation of the problem 
C) developing a spreadsheet model 
D) solving the problem 
E) interpreting the results

Question 4

For an optimization problem a(an)__________________ violates at least one of the constraints.

Accepted Answer

A) infeasible solution 
B) inoptimal solution 
C) suboptimal solution 
D) unbounded solution 
E) simplex solution 
A) infeasible solution 
B) inoptimal solution 
C) suboptimal solution 
D) unbounded solution 
E) simplex solution

Question 5

A leather goods factory manufactures five styles of handbags,whose variable contributions
are $30,$40,$45,$25,and $60 per dozen,respectively.The products must pass through four work centers and the man-hours available in each are: clicking (700),paring (600),stitching (400),and finishing (900).Hourly requirements for each dozen handbags are:
   To prevent adding to inventory levels already on hand,the production manager,after reviewing the weekly sales forecasts,has specified that no more than 100,50,90,70,and 30 dozen of each style respectively may be produced.Each handbag is made from five materials as specified in the following table:
   Formulate a linear program to determine the production policy that will maximize profits.

Accepted Answer

Let A = the number of style 341 made (in

Question 6

There is no single way to set up a Linear Program in a spreadsheet.

Accepted Answer

A) True 
 B)False

Question 7

Dane's aircraft muffler manufacturers have 1500 linear feet of steel on hand to manufacture the three top selling muffler sets.Super mufflers (S)provide $285 profit and common (C)mufflers' profit margin is $310,while the deluxe (D)muffler set provides a $400 profit margin.It costs Dane $310,$295,and $400 to build each muffler set,respectively.What is the objective function of Dane's aircraft muffler manufacturing?

Accepted Answer

A) Min S,C and D 
B) MAX S,C,and D 
C) Max 285S + 310C + 400D 
D) Min 285S + 310C + 400D 
E) Max 310S + 295C + 400D 
A) Min S,C and D 
B) MAX S,C,and D 
C) Max 285S + 310C + 400D 
D) Min 285S + 310C + 400D 
E) Max 310S + 295C + 400D

Question 8

The constraints in an optimization model must all be of one type,for example,all ≤,all ≥,or all =.

Accepted Answer

A) True 
 B)False

Question 9

The average years to maturity of the portfolio must not exceed 5 years.
Assuming that the objective of the portfolio manager is to maximize after-tax earnings and that the tax rate is 50%,formulate a linear program that can be used to determine how much money to invest in each type of bond.

Accepted Answer

Let A = millions of dollars invested in

Question 10

Slack values for non-binding constraints are equal to 0.

Accepted Answer

A) True 
 B)False

Question 11

What in Excel Solver corresponds to the objective function in the algebraic model?

Accepted Answer

A) Optimization Cell 
B) Target Cell 
C) Changing Cell 
D) Constraint Cell 
E) Parameter Cell 
A) Optimization Cell 
B) Target Cell 
C) Changing Cell 
D) Constraint Cell 
E) Parameter Cell

Question 12

The management at Highly Technical Services (HTS)wants to develop a model that will help allocate technicians' time between service calls to government contract customers,private industry contract customers,and new customers.A maximum of 80 hours of technician time is available over the 2-week planning period.To satisfy cash-flow requirements,at least $1000 in revenue (per technician)must be generated during the 2-week period.Technician time for government customers generates $40 per hour,while time for private industry customers generates $30 per hour,and technician time for new customers only generates an average of $5 per hour because in many cases a new customer contact does not provide billable services.To ensure that the new customer contacts are being maintained,the number of new customer contacts must be at least 45% of the government and private industry contract contacts.For the revenue and policy requirements stated,HTS would like to determine how to allocate technician time between regular customers and new customers in order to maximize the total number of customers contacted during the 2-week period.Technicians require an average of 45 minutes for each contract contact and 1 hour for each new customer contact.Develop a linear programming model that will enable HTS to optimally allocate technician time between regular customers and new customers.

Accepted Answer

Let Xn = the number of hours spent on ne

Question 13

Given a Linear Program with a minimization objective,the optimal objective function value may decrease if a ≥ constraint is added to the program.

Accepted Answer

A) True 
 B)False

Question 14

When was the Simplex Method developed?

Accepted Answer

A) 1927 
B) 1937 
C) 1947 
D) 1957 
E) 1967 
A) 1927 
B) 1937 
C) 1947 
D) 1957 
E) 1967

Question 15

In Linear Programming,users have control over quantities called parameters.

Accepted Answer

A) True 
 B)False

Question 16

In Excel Solver,the Decision Cells correspond to the decision variables in the algebraic model.

Accepted Answer

A) True 
 B)False

Question 17

Excel's Solver Add-In solves _____________ problems.

Accepted Answer

The answer of Excel's Solver Add-In solves _____________ problems....

Question 18

The algebraic formulation of an optimization problem states the decision variables,objective function,and constraints in algebraic form.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is not one of the steps in setting up the Solver optimization problem?

Accepted Answer

A) specify the target cell 
B) specify the objective cell 
C) specify the changing cell(s) 
D) specify the constraints 
E) specify the Solver options 
A) specify the target cell 
B) specify the objective cell 
C) specify the changing cell(s) 
D) specify the constraints 
E) specify the Solver options

Question 20

Once you've written the algebraic formulation of the problem,the next setup involved in Solving Optimization Problems is:

Accepted Answer

A) develop test cases 
B) examine the results and make corrections 
C) analyze and interpret the results 
D) set up the Solver settings 
E) write the problem formulation 
A) develop test cases 
B) examine the results and make corrections 
C) analyze and interpret the results 
D) set up the Solver settings 
E) write the problem formulation

Strict inequalities (<,>)are not used in optimization problems.

Testing of the LP model should include and ___.

Human intelligence is not needed in which of the following steps of solving optimization problems?

For an optimization problem a(an)__________________ violates at least one of the constraints.

There is no single way to set up a Linear Program in a spreadsheet.

The constraints in an optimization model must all be of one type,for example,all ≤,all ≥,or all =.

The average years to maturity of the portfolio must not exceed 5 years. Assuming that the objective of the portfolio manager is to maximize after-tax earnings and that the tax rate is 50%,formulate a linear program that can be used to determine how much money to invest in each type of bond.

Slack values for non-binding constraints are equal to 0.

What in Excel Solver corresponds to the objective function in the algebraic model?

Given a Linear Program with a minimization objective,the optimal objective function value may decrease if a ≥ constraint is added to the program.

When was the Simplex Method developed?

In Linear Programming,users have control over quantities called parameters.

In Excel Solver,the Decision Cells correspond to the decision variables in the algebraic model.

Excel's Solver Add-In solves _____________ problems.

The algebraic formulation of an optimization problem states the decision variables,objective function,and constraints in algebraic form.

Which of the following is not one of the steps in setting up the Solver optimization problem?

Once you've written the algebraic formulation of the problem,the next setup involved in Solving Optimization Problems is:

Introduction to Operations

Operations Strategy and Competitiveness

Product Design and Process Selection

E-Commerce and Supply Chain Management

Total Quality Management

Statistical Quality Control

Just-In-Time and Lean Systems

Forecasting

Capacity Planning and Facility Location

Facility Layout

Work System Design

Independent Demand Inventory Management

Aggregate Planning

Resource Planning

Scheduling

Project Management

Spreadsheet Modeling: an Introduction

Waiting Line Models

Master Scheduling and Rough-Cut Capacity Planning

Filters

Exam 18: Introduction to Optimization

Strict inequalities (<,>)are not used in optimization problems.

Testing of the LP model should include __________ and _____________.

Human intelligence is not needed in which of the following steps of solving optimization problems?

For an optimization problem a(an)__________________ violates at least one of the constraints.

There is no single way to set up a Linear Program in a spreadsheet.

The constraints in an optimization model must all be of one type,for example,all ≤,all ≥,or all =.

The average years to maturity of the portfolio must not exceed 5 years. Assuming that the objective of the portfolio manager is to maximize after-tax earnings and that the tax rate is 50%,formulate a linear program that can be used to determine how much money to invest in each type of bond.

Slack values for non-binding constraints are equal to 0.

What in Excel Solver corresponds to the objective function in the algebraic model?

Given a Linear Program with a minimization objective,the optimal objective function value may decrease if a ≥ constraint is added to the program.

When was the Simplex Method developed?

In Linear Programming,users have control over quantities called parameters.

In Excel Solver,the Decision Cells correspond to the decision variables in the algebraic model.

Excel's Solver Add-In solves _____________ problems.

The algebraic formulation of an optimization problem states the decision variables,objective function,and constraints in algebraic form.

Which of the following is not one of the steps in setting up the Solver optimization problem?

Once you've written the algebraic formulation of the problem,the next setup involved in Solving Optimization Problems is:

Introduction to Operations

Operations Strategy and Competitiveness

Product Design and Process Selection

E-Commerce and Supply Chain Management

Total Quality Management

Statistical Quality Control

Just-In-Time and Lean Systems

Forecasting

Capacity Planning and Facility Location

Facility Layout

Work System Design

Independent Demand Inventory Management

Aggregate Planning

Resource Planning

Scheduling

Project Management

Spreadsheet Modeling: an Introduction

Waiting Line Models

Master Scheduling and Rough-Cut Capacity Planning

Filters

Testing of the LP model should include and ___.