Question 1

Goal programming problems

Accepted Answer

A)  typically include a set of multiple goals 
B)  cannot include hard constraints 
C)  consist of soft constraints only 
D)  must have a single objective function 
A)  typically include a set of multiple goals 
B)  cannot include hard constraints 
C)  consist of soft constraints only 
D)  must have a single objective function

Question 2

Consider the following multi-objective linear programming problem (MOLP):   Graph the feasible region for this problem and compute the value of each objective at each extreme point. What are the solutions to each of the component LPs?

Accepted Answer

@#IMG-DLM& @#IMG-DLM& The solution to MAX 3 X₁ + 4

Question 3

​Hard constraints can be violated, if necessary

Accepted Answer

A) True 
 B)False

Question 4

Multi-objective linear programming (MOLP) provide

Accepted Answer

A)  a way to analyze LP problems with multiple conflicting objectives 
B)  a way to incorporate soft constraints 
C)  a way to incorporate hard constraints 
D)  a simple way to solve the problem as a relaxed LP 
A)  a way to analyze LP problems with multiple conflicting objectives 
B)  a way to incorporate soft constraints 
C)  a way to incorporate hard constraints 
D)  a simple way to solve the problem as a relaxed LP

Question 5

An optimization technique useful for solving problems with more than one objective function is

Accepted Answer

A)  dual programming. 
B)  sensitivity analysis. 
C)  multi-objective linear programming. 
D)  goal programming. 
A)  dual programming. 
B)  sensitivity analysis. 
C)  multi-objective linear programming. 
D)  goal programming.

Question 6

Suppose that environmental and human variables are assigned the weight of zero. Then the "triple bottom line" approach reduces to:

Accepted Answer

A)  profit maximization 
B)  environmental issues 
C)  HR objectives 
D)  achieving social equilibrium 
A)  profit maximization 
B)  environmental issues 
C)  HR objectives 
D)  achieving social equilibrium

Question 7

An investor wants to invest $50,000 in two mutual funds, A and B. The rates of return, risks and minimum investment requirements for each fund are:   Note that a low Risk rating means a less risky investment. The investor can invest to maximize the expected rate of return or minimize risk. Any money beyond the minimum investment requirements can be invested in either fund.
Formulate the MOLP for this investor.

Accepted Answer

The answer of An investor wants to invest $50,000 in...

Question 8

Decision-making problems which can be stated as a collection of desired objectives are known as what type of problem?

Accepted Answer

A)  A non-linear programming problem. 
B)  An unconstrained programming problem. 
C)  A goal programming problem. 
D)  An integer programming problem. 
A)  A non-linear programming problem. 
B)  An unconstrained programming problem. 
C)  A goal programming problem. 
D)  An integer programming problem.

Question 9

Exhibit 7.1
The following questions are based on the problem below.
A company wants to advertise on TV and radio. The company wants to produce about 6 TV ads and 12 radio ads. Each TV ad costs $20,000 and is viewed by 10 million people. Radio ads cost $10,000 and are heard by 7 million people. The company wants to reach about 140 million people, and spend about $200,000 for all the ads. The problem has been set up in the following Excel spreadsheet.  
-Refer to Exhibit 7.1. Which cells are the variable cells in this model?

Accepted Answer

A)  $B$6:$C$6, $B$7:$E$8 
B)  $B$6:$C$6 
C)  $B$9:$E$9 
D)  $B$6:$E$8 
A)  $B$6:$C$6, $B$7:$E$8 
B)  $B$6:$C$6 
C)  $B$9:$E$9 
D)  $B$6:$E$8

Question 10

Suppose that the first goal in a GP problem is to make 3 X1 + 4 X2 approximately equal to 36. Using the deviational variables d1− and d1+, what constraint can be used to express this goal?

Accepted Answer

A)  3 X1 + 4 X2 + d1− − d1+ ≤ 36 
B)  3 X1 + 4 X2 − d1− − d1+ = 36 
C)  3 X1 + 4 X2 + d1− + d1+ = 36 
D)  3 X1 + 4 X2 + d1− − d1+ = 36 
A)  3 X1 + 4 X2 + d1− − d1+ ≤ 36 
B)  3 X1 + 4 X2 − d1− − d1+ = 36 
C)  3 X1 + 4 X2 + d1− + d1+ = 36 
D)  3 X1 + 4 X2 + d1− − d1+ = 36

Question 11

A company needs to supply customers in 3 cities from its 3 warehouses. The supplies, demands and shipping costs are shown below.   The company has identified the following goals:   Formulate a goal programming model of this problem.

Accepted Answer

The answer of A company needs to supply customers in...

Question 12

The di+, di− variables are referred to as

Accepted Answer

A)  objective variables. 
B)  goal variables. 
C)  target variables. 
D)  deviational variables. 
A)  objective variables. 
B)  goal variables. 
C)  target variables. 
D)  deviational variables.

Question 13

A company makes 2 products A and B from 2 resources. The products have the following resource requirements and produce the accompanying profits. The available quantity of resources is also shown in the table.   Management has developed the following set of goals   Based on the following GP formulation of the problem, and the associated optimal solution, what formulas should go in cells D6:F6, B9:F9, and B16 of the following Excel spreadsheet? NOTE: Formulas are not required in all of these cells.   ​

Accepted Answer

The answer of A company makes 2 products A and...

Question 14

Goal Programming and Multiple Objective Optimization are not related​

Accepted Answer

A) True 
 B)False

Question 15

In MOLP, a decision alternative is dominated if ​another alternative produces a better value of at least one objective without worsening the value of other objectives

Accepted Answer

A) True 
 B)False

Question 16

Exhibit 7.4
The following questions are based on the problem below.
Robert Gardner runs a small, local-only delivery service. His fleet consists of three smaller panel trucks. He recently accepted a contract to deliver 12 shipping boxes of goods for delivery to 12 different customers. The box weights are: 210, 160, 320, 90, 110, 70, 410, 260, 170, 240, 80 and 180 for boxes 1 through 12, respectively. Since each truck differs each truck has different load capacities as given below:   Robert would like each truck equally loaded, both in terms of number of boxes and in terms of total weight, while minimizing his shipping costs. Assume a cost of $50 per item for trucks carrying extra boxes and $0.10 per pound cost for trucks carrying less weight.
The following integer goal programming formulation applies to his problem.
YS1U1B11S1U1B0 = weight loaded in truck 1; YS1U1B12S1U1B0 = weight loaded in truck 2; YS1U1B13S1U1B0 = weight loaded in truck 3;
XS1U1B1i,jS1U1B0 = 0 if truck i not loaded with box j; 1 if truck i loaded with box j.   Given the following spreadsheet solution of this integer goal programming formulation, answer the following questions.  
-Refer to Exhibit 7.4. Based on the integer goal programming formulation, the associated solution, and spreadsheet model, what formulas should go in cells B19:E19 and B24:E24 of the spreadsheet?

Accepted Answer

The answer of Exhibit 7.4
The following questions are based on...

Question 17

A MINIMAX objective function in goal programming (GP):

Accepted Answer

A)  is used to minimize the maximum deviation from a goal 
B)  is captured in a decision table 
C)  is estimated by trial-and-error 
D)  often produces an infeasible solution 
A)  is used to minimize the maximum deviation from a goal 
B)  is captured in a decision table 
C)  is estimated by trial-and-error 
D)  often produces an infeasible solution

Question 18

In the "triple bottom line" the term "people" refers to:

Accepted Answer

A)  social responsibility issues 
B)  environmental issues 
C)  financial objectives 
D)  all of the above 
A)  social responsibility issues 
B)  environmental issues 
C)  financial objectives 
D)  all of the above

Question 19

The deviational variables ​represent the amount by which the goal's target is underachieved

Accepted Answer

A) True 
 B)False

Question 20

Exhibit 7.3
The following questions are based on the problem below.
An investor has $150,000 to invest in investments A and B. Investment A requires a $10,000 minimum investment, pays a return of 12% and has a risk factor of .50. Investment B requires a $15,000 minimum investment, pays a return of 10% and has a risk factor of .20. The investor wants to maximize the return while minimizing the risk of the portfolio. The following minimax formulation of the problem has been solved in Excel.  
-Refer to Exhibit 7.3. What formula goes in cell E11?

Accepted Answer

A)  =D11*(C11−B11)/C11 
B)  =(C11−B11)/C11 
C)  =D11*C11 
D)  =D11*(C11−B11) 
A)  =D11*(C11−B11)/C11 
B)  =(C11−B11)/C11 
C)  =D11*C11 
D)  =D11*(C11−B11)

Goal programming problems

Consider the following multi-objective linear programming problem (MOLP): Graph the feasible region for this problem and compute the value of each objective at each extreme point. What are the solutions to each of the component LPs?

Hard constraints can be violated, if necessary

Multi-objective linear programming (MOLP) provide

An optimization technique useful for solving problems with more than one objective function is

Suppose that environmental and human variables are assigned the weight of zero. Then the "triple bottom line" approach reduces to:

Decision-making problems which can be stated as a collection of desired objectives are known as what type of problem?

Suppose that the first goal in a GP problem is to make 3 X₁ + 4 X₂ approximately equal to 36. Using the deviational variables d₁− and d₁⁺, what constraint can be used to express this goal?

A company needs to supply customers in 3 cities from its 3 warehouses. The supplies, demands and shipping costs are shown below. The company has identified the following goals: Formulate a goal programming model of this problem.

The d_i⁺, d_i− variables are referred to as

Goal Programming and Multiple Objective Optimization are not related

In MOLP, a decision alternative is dominated if another alternative produces a better value of at least one objective without worsening the value of other objectives

A MINIMAX objective function in goal programming (GP):

In the "triple bottom line" the term "people" refers to:

The deviational variables represent the amount by which the goal's target is underachieved

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

Nonlinear Programming Evolutionary Optimization

Regression Analysis

Data Mining

Time Series Forecasting

Introduction to Simulation Using Analytic Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

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Exam 7: Goal Programming and Multiple Objective Optimization

Goal programming problems

Consider the following multi-objective linear programming problem (MOLP): Graph the feasible region for this problem and compute the value of each objective at each extreme point. What are the solutions to each of the component LPs?

​Hard constraints can be violated, if necessary

Multi-objective linear programming (MOLP) provide

An optimization technique useful for solving problems with more than one objective function is

Suppose that environmental and human variables are assigned the weight of zero. Then the "triple bottom line" approach reduces to:

Decision-making problems which can be stated as a collection of desired objectives are known as what type of problem?

Suppose that the first goal in a GP problem is to make 3 X1 + 4 X2 approximately equal to 36. Using the deviational variables d1− and d1+, what constraint can be used to express this goal?

A company needs to supply customers in 3 cities from its 3 warehouses. The supplies, demands and shipping costs are shown below. The company has identified the following goals: Formulate a goal programming model of this problem.

The di+, di− variables are referred to as

Goal Programming and Multiple Objective Optimization are not related​

In MOLP, a decision alternative is dominated if ​another alternative produces a better value of at least one objective without worsening the value of other objectives

A MINIMAX objective function in goal programming (GP):

In the "triple bottom line" the term "people" refers to:

The deviational variables ​represent the amount by which the goal's target is underachieved

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

Nonlinear Programming Evolutionary Optimization

Regression Analysis

Data Mining

Time Series Forecasting

Introduction to Simulation Using Analytic Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters

Hard constraints can be violated, if necessary

Suppose that the first goal in a GP problem is to make 3 X₁ + 4 X₂ approximately equal to 36. Using the deviational variables d₁− and d₁⁺, what constraint can be used to express this goal?

The d_i⁺, d_i− variables are referred to as

Goal Programming and Multiple Objective Optimization are not related

In MOLP, a decision alternative is dominated if another alternative produces a better value of at least one objective without worsening the value of other objectives

The deviational variables represent the amount by which the goal's target is underachieved