Question 1

A firm has a cost function of 3x2- 25x + 374. Without having two examples of their output volume and total cost, we cannot determine their fixed cost.

Accepted Answer

A) True 
 B)False

Question 2

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: 1000 - 8p.
-What is the optimal production quantity?

Accepted Answer

The answer of The XYZ manufacturing company produces ball bearings....

Question 3

A profit function of Z = 3x2 - 12x + 5 reaches maximum profit at x = 2 units of output.

Accepted Answer

A) True 
 B)False

Question 4

Classical optimization uses calculus to determine the optimal values of a variable.

Accepted Answer

A) True 
 B)False

Question 5

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: 1000 - 8p.
-What is the nonlinear profit function for the XYZ company? Simplify the terms as much as possible.

Accepted Answer

The answer of The XYZ manufacturing company produces ball bearings....

Question 6

The first derivative of the fixed cost line is ________.

Accepted Answer

The answer of The first derivative of the fixed cost...

Question 7

The first derivative of a cost function equals zero at the point V = 100. This is definitely the worst output volume for the producer to choose.

Accepted Answer

A) True 
 B)False

Question 8

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation:
V = 1000 - 8p. What is the optimal price of the ball bearings that will maximize the profit?

Accepted Answer

A)  $47.99 
B)  $53.99 
C)  $58.99 
D)  $63.99

Question 9

Both linear and nonlinear programming models are examples of

Accepted Answer

A)  goal programming models. 
B)  simplex tableaus. 
C)  constrained likelihood models. 
D)  constrained optimization models.

Question 10

Sara's Sensible Critters makes two kinds of catnip toys: balls (x1) and mice (x2). The relationship between demand and price for balls and mice is:
x1 = 1800 - 150p1
x2 = 1500 - 300p2
The cost for a catnip ball is $2 and for the mouse, $3.
Sara has only 200 ounces of catnip on hand. A ball uses a tenth of an ounce and a toy mouse uses one-quarter of an ounce.
-Write the appropriate expression for profit.

Accepted Answer

A)  Max Z = (p1 - 3)x1 + (p1 - 2)x2 
B)  Max Z = (p1 + 1)x1 + (p1 + 3)x2 
C)  Max Z = (p1 - 1)x1 + (p1 - 3)x2 
D)  Min Z = (p1 -1)x1 + (p1 - 3)x2

Question 11

The ________ reflects the approximate change in the objective function resulting from a unit change in the quantity (right-hand-side) value of the constraint.

Accepted Answer

The answer of The ________ reflects the approximate change in...

Question 12

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: 1000 - 8p.
-What is the derivative of the profit function for the XYZ company? Simplify the terms as much as possible.

Accepted Answer

The answer of The XYZ manufacturing company produces ball bearings....

Question 13

The ________ measure of distance between two points on a set of X and Y coordinates is the hypotenuse of a right triangle.

Accepted Answer

The answer of The ________ measure of distance between two...

Question 14

In solving the facility location problem, the objective is to locate a centralized facility that serves customers or other facilities such that the distance traveled between the facility and customers or other facilities is minimized.

Accepted Answer

A) True 
 B)False

Question 15

The derivative of a function ________ the slope of the curve defined by that function.

Accepted Answer

A)  is larger than 
B)  equals 
C)  is smaller than 
D)  is similar to

Question 16

Consider the curve 7x² - 14x + 28. What is the highest point on this curve?

Accepted Answer

The answer of Consider the curve 7x² - 14x +...

Question 17

Zoey's Catnip Toys faces the following relationship between price and demand: v = 2000 - 200p. The fixed cost is $500 and variable cost is $1. What price should Zoey charge to maximize profit?

Accepted Answer

The answer of Zoey's Catnip Toys faces the following relationship...

Question 18

Classical optimization is the use of ________ to determine the optimal value of a variable.

Accepted Answer

A)  calculus 
B)  linear programming 
C)  nonlinear programming 
D)  goal programming

Question 19

Consider the curve 7x² - 14x + 28. What is the slope at x = 5?

Accepted Answer

The answer of Consider the curve 7x² - 14x +...

Question 20

Classical optimization is the use of calculus to determine the optimal value of a variable.

Accepted Answer

A) True 
 B)False

Exam 10: Nonlinear Programming

A firm has a cost function of 3x²- 25x + 374. Without having two examples of their output volume and total cost, we cannot determine their fixed cost.

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: 1000 - 8p. -What is the optimal production quantity?

A profit function of Z = 3x² - 12x + 5 reaches maximum profit at x = 2 units of output.

Classical optimization uses calculus to determine the optimal values of a variable.

The first derivative of the fixed cost line is ________.

The first derivative of a cost function equals zero at the point V = 100. This is definitely the worst output volume for the producer to choose.

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: V = 1000 - 8p. What is the optimal price of the ball bearings that will maximize the profit?

Both linear and nonlinear programming models are examples of

The ________ reflects the approximate change in the objective function resulting from a unit change in the quantity (right-hand-side) value of the constraint.

The ________ measure of distance between two points on a set of X and Y coordinates is the hypotenuse of a right triangle.

In solving the facility location problem, the objective is to locate a centralized facility that serves customers or other facilities such that the distance traveled between the facility and customers or other facilities is minimized.

The derivative of a function ________ the slope of the curve defined by that function.

Consider the curve 7x² - 14x + 28. What is the highest point on this curve?

Zoey's Catnip Toys faces the following relationship between price and demand: v = 2000 - 200p. The fixed cost is $500 and variable cost is $1. What price should Zoey charge to maximize profit?

Classical optimization is the use of ________ to determine the optimal value of a variable.

Consider the curve 7x² - 14x + 28. What is the slope at x = 5?

Classical optimization is the use of calculus to determine the optimal value of a variable.

Exam 10: Nonlinear Programming

A firm has a cost function of 3x2- 25x + 374. Without having two examples of their output volume and total cost, we cannot determine their fixed cost.

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: 1000 - 8p. -What is the optimal production quantity?

A profit function of Z = 3x2 - 12x + 5 reaches maximum profit at x = 2 units of output.

Classical optimization uses calculus to determine the optimal values of a variable.

The first derivative of the fixed cost line is ________.

The first derivative of a cost function equals zero at the point V = 100. This is definitely the worst output volume for the producer to choose.

The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: V = 1000 - 8p. What is the optimal price of the ball bearings that will maximize the profit?

Both linear and nonlinear programming models are examples of

The ________ reflects the approximate change in the objective function resulting from a unit change in the quantity (right-hand-side) value of the constraint.

The ________ measure of distance between two points on a set of X and Y coordinates is the hypotenuse of a right triangle.

In solving the facility location problem, the objective is to locate a centralized facility that serves customers or other facilities such that the distance traveled between the facility and customers or other facilities is minimized.

The derivative of a function ________ the slope of the curve defined by that function.

Consider the curve 7x2 - 14x + 28. What is the highest point on this curve?

Zoey's Catnip Toys faces the following relationship between price and demand: v = 2000 - 200p. The fixed cost is $500 and variable cost is $1. What price should Zoey charge to maximize profit?

Classical optimization is the use of ________ to determine the optimal value of a variable.

Consider the curve 7x2 - 14x + 28. What is the slope at x = 5?

Classical optimization is the use of calculus to determine the optimal value of a variable.

A firm has a cost function of 3x²- 25x + 374. Without having two examples of their output volume and total cost, we cannot determine their fixed cost.

A profit function of Z = 3x² - 12x + 5 reaches maximum profit at x = 2 units of output.

Consider the curve 7x² - 14x + 28. What is the highest point on this curve?

Consider the curve 7x² - 14x + 28. What is the slope at x = 5?