Exam 5: Advanced Linear Programming Applications

Mountainside State Park has four visitor centers.To study the operation of these centers,a DEA model has been developed that compares inputs (size,number of staff,weekly hours of operation)and outputs (% of visitors attending educational program,daily sales in gift shop).The computer solution is shown below.What can you conclude about the efficiency of the North center? LINEAR PROGRAMMING PROBLEM OPTIMAL SOLUTION Objective Function Value = 1.000

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Question 1

Correct Answer:

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Because E = 1,the composite visitor center requires as much input as the North center does.There is no evidence that the North center is inefficient.

Zero-sum means that what one player wins,the other player loses,and the gain and loss balance each other out.

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Question 2

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True

Revenue management methodology was originally developed for the banking industry.

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Question 3

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False

Shown below is the solution to the linear program for finding Player A's optimal mixed strategy in a two-person,zero-sum game. a.What is Player A's optimal mixed strategy? b.What is Player B's optimal mixed strategy? c.What is Player A's expected gain? d.What is Player B's expected loss?

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Question 4

A DEA linear programming model involving four input measures and three output measures will have

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Question 5

The output shows the solution to a DEA model where facilities in Seaview (S),Farmington (F),Lewiston (L),and San Domingo (D)are compared.The inputs,in order,are number of machines,size of workforce,and goodness of location.The outputs,in order,are production,quality rating,and on-time completion percentage.The model examines the efficiency of Lewiston. OPTIMAL SOLUTION Objective Function Value = 0.510 a.Is the Lewiston plant efficient? Why or why not? If not,which plants should it emulate in order to improve? b.How much more production does the composite facility provide than the Lewiston site? c.What is the quality rating for the composite facility?

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Question 6

The analysis of a two-person,zero-sum game begins with checking to see whether a pure strategy exists.

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Question 7

For a two-person,zero-sum,mixed-strategy game,each player selects its strategy according to

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Question 8

It is possible for a single DEA programming model to identify all operating units that are inefficient.

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Question 9

The composite unit in DEA

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Question 10

Consider the following two-person,zero-sum game.Payoffs are the winnings for Company X.Formulate the linear program that determines the optimal mixed strategy for Company X.

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Question 11

The overall goal of portfolio models is to create a portfolio that provides the best balance between

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Question 12

Revenue management methodology enables an airline to

(Multiple Choice)

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Question 13

A linear programming application used to measure the relative efficiency of operating units with the same goals and objectives is

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Question 14

Portfolio manager Max Gaines needs to develop an investment portfolio for his conservative clients.His task is to determine the proportion of the portfolio to invest in each of the five mutual funds listed below so that the portfolio provides the best return possible with a minimum risk.Formulate the maximin linear program.

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Question 15

LeapFrog Airways provides passenger service for Indianapolis,Baltimore,Memphis,Austin,and Tampa.LeapFrog has two WB828 airplanes,one based in Indianapolis and the other in Baltimore.Each morning,the Indianapolis-based plane flies to Austin with a stopover in Memphis,and the Baltimore-based plane flies to Tampa with a stopover in Memphis.Both planes have a coach section with a 120-seat capacity. LeapFrog uses two fare classes: a discount-fare D class and a full-fare F class.LeapFrog's products,each referred to as an origin-destination-itinerary fare (ODIF),are listed below with their fares and forecasted demand. Develop a linear programming model for LeapFrog's problem situation and determine how many seats LeapFrog should allocate to each ODIF.

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Question 16

If it is an optimal solution for both players in a two-person,zero-sum game to select one strategy and stay with that strategy-regardless of what the other player does-then the game

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Question 17

Consider a two-person,zero-sum game where the payoffs listed below are the winnings for Player A.Identify the pure strategy solution.What is the value of the game?

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Question 18

Eastern Washington County School Corporation is interested in comparing educational performance at four elementary schools and has hired you to prepare a DEA model to do so.After detailed conversations with the corporation administrative staff and the building principals,you have isolated the following input and output measures: Data are collected for each school on each measure. Develop a DEA model that would evaluate the efficiency of Ralston Elementary School.

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Question 19

If a pure strategy solution exists for a two-person,zero-sum game,it is the optimal solution to the game.

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Question 20

Showing 1 - 20 of 39

Zero-sum means that what one player wins,the other player loses,and the gain and loss balance each other out.

Revenue management methodology was originally developed for the banking industry.

Shown below is the solution to the linear program for finding Player A's optimal mixed strategy in a two-person,zero-sum game. a.What is Player A's optimal mixed strategy? b.What is Player B's optimal mixed strategy? c.What is Player A's expected gain? d.What is Player B's expected loss?

A DEA linear programming model involving four input measures and three output measures will have

The analysis of a two-person,zero-sum game begins with checking to see whether a pure strategy exists.

For a two-person,zero-sum,mixed-strategy game,each player selects its strategy according to

It is possible for a single DEA programming model to identify all operating units that are inefficient.

The composite unit in DEA

Consider the following two-person,zero-sum game.Payoffs are the winnings for Company X.Formulate the linear program that determines the optimal mixed strategy for Company X.

The overall goal of portfolio models is to create a portfolio that provides the best balance between

Revenue management methodology enables an airline to

A linear programming application used to measure the relative efficiency of operating units with the same goals and objectives is

If it is an optimal solution for both players in a two-person,zero-sum game to select one strategy and stay with that strategy-regardless of what the other player does-then the game

Consider a two-person,zero-sum game where the payoffs listed below are the winnings for Player A.Identify the pure strategy solution.What is the value of the game?

If a pure strategy solution exists for a two-person,zero-sum game,it is the optimal solution to the game.

Introduction

An Introduction to Linear Programming

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications in Marketing, finance, and OM

Distribution and Network Models

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Time Series Analysis and Forecasting

Markov Processes

Linear Programming: Simplex Method

Simplex-Based Sensitivity Analysis and Duality

Solution Procedures for Transportation and Assignment Problems

Minimal Spanning Tree

Dynamic Programming

Filters

Exam 5: Advanced Linear Programming Applications

Zero-sum means that what one player wins,the other player loses,and the gain and loss balance each other out.

Revenue management methodology was originally developed for the banking industry.

Shown below is the solution to the linear program for finding Player A's optimal mixed strategy in a two-person,zero-sum game. ​ a.What is Player A's optimal mixed strategy? b.What is Player B's optimal mixed strategy? c.What is Player A's expected gain? d.What is Player B's expected loss?

A DEA linear programming model involving four input measures and three output measures will have

The analysis of a two-person,zero-sum game begins with checking to see whether a pure strategy exists.

For a two-person,zero-sum,mixed-strategy game,each player selects its strategy according to

It is possible for a single DEA programming model to identify all operating units that are inefficient.

The composite unit in DEA

Consider the following two-person,zero-sum game.Payoffs are the winnings for Company X.Formulate the linear program that determines the optimal mixed strategy for Company X.​

The overall goal of portfolio models is to create a portfolio that provides the best balance between

Revenue management methodology enables an airline to

A linear programming application used to measure the relative efficiency of operating units with the same goals and objectives is

If it is an optimal solution for both players in a two-person,zero-sum game to select one strategy and stay with that strategy-regardless of what the other player does-then the game

Consider a two-person,zero-sum game where the payoffs listed below are the winnings for Player A.Identify the pure strategy solution.What is the value of the game? ​ ​

If a pure strategy solution exists for a two-person,zero-sum game,it is the optimal solution to the game.

Introduction

An Introduction to Linear Programming

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications in Marketing, finance, and OM

Distribution and Network Models

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Time Series Analysis and Forecasting

Markov Processes

Linear Programming: Simplex Method

Simplex-Based Sensitivity Analysis and Duality

Solution Procedures for Transportation and Assignment Problems

Minimal Spanning Tree

Dynamic Programming

Filters

Shown below is the solution to the linear program for finding Player A's optimal mixed strategy in a two-person,zero-sum game. a.What is Player A's optimal mixed strategy? b.What is Player B's optimal mixed strategy? c.What is Player A's expected gain? d.What is Player B's expected loss?

Consider the following two-person,zero-sum game.Payoffs are the winnings for Company X.Formulate the linear program that determines the optimal mixed strategy for Company X.

Consider a two-person,zero-sum game where the payoffs listed below are the winnings for Player A.Identify the pure strategy solution.What is the value of the game?