IEOPER1 Quiz 1 Flashcards
Define Operations Research
Management science / a scientific approach to decision-making that seeks to best design and operate a system, usually under conditions requiring the allocation of scarce resources
Define System
An organization of interdependent components that work together to accomplish the goal of the system
Assumptions in LP
Proportionality
Additivity
Divisibility
Certainty
The assumption in LP dictating that the usage of each resource and the associated contribution to the measure z is directly proportional
Proportionality
The assumption in LP dictating that the total amount of each resource utilized and the total measure z are equal to the sum of the respective individual amounts
Additivity
The assumption in LP that states that decision variables may assume a continuous range of values, which means that non-integers for the decision variables are permissible
Divisibility
The assumption in LP that assumes all parameters such as cost, profits, requirements, capacity, etc. are known and certain
Certainty
Deterministic mathematical technique designed to assist an organization in allocating scarce resources or in choosing from among many alternatives
Linear Programming
In an accounting/ investment problem, the constraints are usually by _________ and it follows that ___________ is equal to ____________.
Year based on CF Diagram ;
Amount of money invested (arrow down) = Amount of money earned (arrow up)
Review: Linearize x^5
5 ln x
Review: Linearize x^5 times x^3
5 ln x + 3 ln x
Father of Simplex Algorithm
George Dantzig
Name of the first group of experts tasked to perform research on military operational problems, specifically the effectiveness of the use of military weapons
Blackett’s Circus
Two types of Mathematical Models
Deterministic and Stochastic
In what year was the simplex algorithm developed?
1947
