Exam 21: Supplement Operational Decision-Making Tools: Linear Programming

The area that contains the values that satisfies all the constraints in a linear programming problem is known as the _________________ space.

TicToc produces product A and product B.These products have the following resource requirements. The firm has a weekly production budget of $3000 and a maximum of 1000 hours of labor per week.Each A produced generates $35.00 in profit for the company.Each B produced generates $25.00 in profit for the company.The capacity constraint for labor is

In general,the objective function for linear programming problems in operations is one of minimizing costs.

The simplex method used for solving linear programming problems uses matrix algebra to solve simultaneous equations.

The objective function is a linear relationship that either minimizes or maximizes some value.

Atlas Inc.produces product A and product B.Each product must go through two processes.Each A produced requires two hours in process 1 and five hours in process 2.Each B produced requires six hours in process 1 and three hours in process 2.There are 80 hours of capacity available each week in each process.Each A produced generates $6.00 in profit for the company.Each B produced generates $9.00 in profit for the company.If the company produces 6 units of A and 9 units of B the value of the objective function is equal to

What is meant by the term "shadow price" in linear programming?

Operations mangers find very few types of linear program models applicable today because finding an optimal solution is no longer a concern.

A linear programming model's constraints are nonlinear relationships that describe the restrictions placed on the decision variables.

The formulation for a linear programming problem cannot include more than one decision variable.

If a resource has positive slack,then its shadow price is __________.

The simplex method is a solution method used for linear programming problems that have

For a less than or equal to (<)constraint the shadow price represents the

How is linear programming useful to an operations manager?

A company produces product A and product B.These products have the following resource requirements. The firm has a weekly production budget of $5000 and a maximum of 800 hours of labor per week.Each A produced generates $45.00 in profit for the company.Each B produced generates $35.00 in profit for the company.The objective function for this company is represented by

Atlas Inc.produces product A and product B.Each product must go through two processes.Each A produced requires two hours in process 1 and five hours in process 2.Each B produced requires six hours in process 1 and three hours in process 2.There are 80 hours of capacity available each week in each process.Each A produced generates $6.00 in profit for the company.Each B produced generates $9.00 in profit for the company.The constraint for process 1 is represented by

The feasible solution space contains the values for the decision variables that satisfy the linear programming model's constraints.

The optimal solution for a linear programming problem will always occur