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BUS104 W 5 With Answer

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23 views11 pages

BUS104 W 5 With Answer

Uploaded by

teamfsr954
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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BUS 104

DECISION ANALYSIS
AND MANAGEMENT SCIENCE
YUEJUN SUN
Bus 104

Midterm review

week 1 week 2 week 3 week 4

LP Model Solving LP LP
Sensitivity Analysis
Formulation Model Application

• decision variable • binding constraint • range of optimality


• objective function • feasible solution • range of feasibility
• constraint • alternative solutions • reduced cost
• linear functions • unbounded problem • shadow price
• break-even • infeasible problem
• slack, surplus(standard form)

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LP Model Formulation

1. The objective function of a linear programming problem is:


A. a constraint
B. a function to be optimized
C. decisions to make
D. none of above

2. The linear inequalities or equations or restrictions on the variables of a linear programming problem are called:
A. constraints
B. decision variables
C. objective function
D. none of above

3. Which one below is a linear function:


A. 𝑥 + 2y=11
B. xy+3-z=29
C. 6x+ y+z=13 3
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Solving LP Model

1. Graphical Method can be applied to solve a LP if there are only ____variables.

2. Consider the feasible region given by the following inequalities, whose boundary lines are graphed below.

Which one of the following labels best indicate the


feasible region described above:
A. I
B. III
C. IV
D. II
E. None of these

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Solving LP Model

3. A set of values of decision variables that satisfies the linear constraints and non-negativity conditions of an
LP is called its:
A. infeasible solution
B. optimal solution
C. feasible solution
D. none of above

4. A linear programming problem can have:


A. No solution → Infeasible problem
B. Exactly one solution → a certain optimal solution
C. Multiple solutions → alternative optimal solution (happens when the slope of the objective function
D. All the above is the same as a constraint)
unbounded problem(no limit for the value of solution)

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Solving LP Model

a certain unbounded
optimal solution problem

alternative
optimal solution
Infeasible
problem

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Solving LP Model

5.Extreme points of the feasible region for an LP are (0, 2), (3, 0), (6, 0), (6, 8) and (0, 5). Let Max 4x+ 6y be the
objective function. What is the objective function value at optimal solution:
A. 60
B. 48
C. 72
D. 75

6. Slack/surplus variables are always:


A. Positive → for nonbinding constraints
B. Non-negative
C. Zero → for binding constraints
D. Negative

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Sensitivity Analysis

Consider the sensitivity report below for the following problems:


1. The objective function value is:
A. 24.16
B. 12.6216
C. 1.05
D. None of above

2. Which of the constraints are binding:


A. All constraints are binding
B. Constraint 1 and 2 are binding
C. Constraint 3 and 4 are binding
D. None of above

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Sensitivity Analysis

Consider the sensitivity report below for the following problems:


3. What is the increase in the objective function value
if 2 units are added on the right hand side of constraint 3:
A. 86
B. 0.092
C. 0.184
D. Not enough information

4. What will be the optimal solution for this LP if the


coefficient of D in the objective function change to 0.3:
A. W=0.46, D=0.59
B. W=12.56, D=11.6
C. W=0, D=0.184
D. Not enough information

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Sensitivity Analysis

Consider the sensitivity report below for the following problems:


1. What is the range of feasibility for the right hand side
value of constraint 1:
A. [no limit, 14]
B. [10, no limit]
C. [-0.5, no limit]
D. None of above

2. Assume this is a minimization problem. For the coefficient of x,


how much will it have to decrease for x to have a positive value:
A. 3
B. 3.5
C. 0
D. Not enough information

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BUS 104

Good Luck!
SEE YOU NEXT WEEK!

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