Exam 23: Linear Programming
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The region that satisfies all of the constraints in linear programming is called the region of optimality.
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Explain how to use the iso-profit line in a graphical solution to maximization problem.
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The iso-profit line is moved up in a maximization problem until it no longer intersects with any constraint equation.The last point in the feasible region that the line touches is the optimal solution.
What are corner points? What is their relevance to solving linear programming problems?
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Corner points are the intersections of the constraints that form the feasible region.While all points in the feasible region are possible,an optimal solution will always be at a corner point.Therefore,one method of solving linear programming problems involves the identification and valuation of all corner points.
________ are restrictions that limit the degree to which a manager can pursue an objective.
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If we wish to ensure that decision variable values in a linear program are integers rather than fractions,the generally accepted practice is to round the solutions to the nearest integer values.
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Constraints are needed to solve linear programming problems by hand,but not by computer.
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In linear programming,statements such as "the blend must consist of at least 10% of ingredient A,at least 30% of ingredient B,and no more than 50% of ingredient C" can be made into valid constraints even though the percentages do not add up to 100 percent.
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The main disadvantage of introducing constraints into a linear program that enforce some or all of the decision variables to be either integer or binary is that:
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Identify three examples of resources that are typically constrained in a linear programming problem.
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Computer software provides a simple way to guarantee only integer solutions to linear programming problems.
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A linear programming problem has two constraints 2X + 4Y ≤ 100 and 1X + 8Y ≤ 100,plus nonnegativity constraints on X and Y.Which of the following statements about its feasible region is TRUE?
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Riker Co.is considering which of 4 different projects to undertake in order to maximize its net present value (NPV).Define Xi as a binary variable that equals 1 if project i is undertaken and 0 otherwise,for i = 1,2,3,4.The NPV and required capital (in millions)for each project are listed below.
Which of the following represents the constraint(s)stating that project 1 must be undertaken and at least one of the other projects must be undertaken?

(Multiple Choice)
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Riker Co.is considering which of 4 different projects to undertake in order to maximize its net present value (NPV).Define Xi as a binary variable that equals 1 if project i is undertaken and 0 otherwise,for i = 1,2,3,4.The NPV and required capital (in millions)for each project are listed below.
What is the proper objective function?

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A linear programming problem contains a restriction that reads "the quantity of Q must be at least as large as the sum of R,S,and T." Formulate this as a linear programming constraint.
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A manager must decide on the mix of products to produce for the coming week.Product A requires three minutes per unit for molding,two minutes per unit for painting,and one minute for packing.Product B requires two minutes per unit for molding,four minutes for painting,and three minutes per unit for packing.There will be 600 minutes available for molding,600 minutes for painting,and 420 minutes for packing.Both products have contributions of $1.50 per unit.Answer the following questions;base your work on the solution panel provided.
a.What combination of A and B will maximize contribution?
b.What is the maximum possible contribution?
c.Are any resources not fully used up? Explain.

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Capital Co.is considering 5 different projects.Define Xi as a binary variable that equals 1 if project i is undertaken and 0 otherwise,for i = 1,2,3,4,5.Which of the following represents the constraint(s)stating that projects 2,3,and 4 cannot all three be undertaken simultaneously?
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A feedlot is trying to decide on the lowest cost mix that will still provide adequate nutrition for its cattle.Suppose that the numbers in the chart represent the number of grams of ingredient per 100 grams of feed and that the cost of Feed X is $5/100grams,Feed Y is $3/100 grams,and Feed X is $8/100 grams.Each cow will need 50 grams of A per day,20 grams of B,30 grams of C,and 10 grams of D.The feedlot can get no more than 200 grams per day per cow of any of the feed types.Formulate the problem as a linear program.


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