Linear programing 1

Question 1

Involves effective use of resources in order to:
Produce Products
(Computers, automobiles, or clothing)

Provide Services
(package delivery, health services, or investment decisions)

Answer 1

Management Decisions

Question 2

two main goals of management decisions

Answer 2

Produce Products
Provide Services

Question 3

most common type of mathematical programming, involving linear variables, finds the optimal solution

Answer 3

Linear Programming

Question 4

represents levels of activity of a firm

Answer 4

Decision variables

Question 5

math exp of the objective of the decision maker in a LP decision situation

Answer 5

Objective functions

Question 6

two common objectives

Answer 6

maximization of profit
minimization of cost

Question 7

linear math expression of the relationships between limitations and requirements associated with the objective variables

Answer 7

constraints

Question 8

Types of constraints

Answer 8

Capacity
market
availability
Quality/Blending
Material Balance

Question 9

due to limits in space, equipment, or manpower

Answer 9

Capacity constraint

Question 10

limits on the amount of products that can be sold or used

Answer 10

market constraints

Question 11

limits due to scarcity of raw materials

Answer 11

Availability Constraints

Question 12

limits on the mixes of ingredients that usually defines the quality of the output products

Answer 12

Quality or Blending constraints

Question 13

limits that define the output of some process as function of the inputs, often with a loss for scrap

Answer 13

Material Balance Constraints

Question 14

numerical coefficients and constants used in the objective function and constraint equations.

Answer 14

Parameters

Question 15

A limit on the availability of resources.

Answer 15

constraints

Question 16

A corner of the feasible region

Answer 16

extremepoint

Question 17

The area containing all the possible solutions to the
problem, which are feasible, that is, those solutions which satisfy all the
constraint in the problem.

Answer 17

feasible region

Question 18

A mathematical expression indicating that minimum or maximum
requirements must be met.

Answer 18

inequality

Question 19

The condition when there is no solution which satisfies all the
constraints in a problem

Answer 19

infeasibility

Question 20

A line representing all possible combinations of problem
variables which produce the same total cost

Answer 20

iso-cost line

Question 21

A line representing all possible combinations of products
which will produce a given profit

Answer 21

iso-profit lines

Question 22

constraints that restrict all variables to be zero or positive

Answer 22

non-negative constraint

Question 23

constraint which does not affect the feasible region

Answer 23

redundancy

Question 24

all constraints in a linear program besides the non-negativity constraints

Answer 24

structural constraints