CHAPTER 13: INTRODUCTION TO OPTIMIZATION MODELING WITH ANSWERS 100% CORRECT RATEDA+

CHAPTER 13: INTRODUCTION TO OPTIMIZATION MODELING
WITH ANSWERS 100% CORRECT RATEDA+

CHAPTER 13: Introduction to Optimization Modeling




MULTIPLE CHOICE


1. All optimization problems have:
a. an objective function and decision variables
b. an objective function and constraints
c. decision variables and constraints
d. an objective function, decision variables and constraints

ANS: A PTS: 1 MSC: AACSB: Analytic


2. In an optimization model, there can only be one:
a. decision variable
b. constraint
c. objective function
d. shadow price

ANS: C PTS: 1 MSC: AACSB: Analytic


3. Linear programming is a subset of a larger class of models called:
a. mathematical programming models
b. mathematical optimality models
c. linear regression models
d. linear simplex model

ANS: A PTS: 1 MSC: AACSB: Analytic


4. The most important solution method for linear programming problems is known as the:
a. spreadsheet method
b. solution mix method
c. complex method
d. simplex method

,CHAPTER 13: INTRODUCTION TO OPTIMIZATION MODELING
WITH ANSWERS 100% CORRECT RATEDA+

ANS: D PTS: 1 MSC: AACSB: Analytic


5. Every linear programming problem involves optimizing a:
a. linear regression model subject to several linear constraints
b. linear function subject to several linear constraints
c. linear function subject to several non-linear constraints
d. non-linear function subject to several linear constraints

ANS: B PTS: 1 MSC: AACSB: Analytic


6. The solution of a linear programming problem using Microsoft Excel typically involves the
following three stages:
a. formulating the problem, invoking Solver, and sensitivity analysis
b. formulating the problem, graphing the problem, and sensitivity analysis
c. the changing cells, the target cells, and the constraints
d. the inputs, the changing cells, and the outputs

ANS: A PTS: 1 MSC: AACSB: Analytic


7. In using Excel to solve linear programming problems, the target cell represents the:
a. value of the objective function

, CHAPTER 13: INTRODUCTION TO OPTIMIZATION MODELING
WITH ANSWERS 100% CORRECT RATEDA+


b. constraints
c. decision variables
d. total cost of the model

ANS: A PTS: 1 MSC: AACSB: Analytic


8. In using Excel to solve linear programming problems, the changing cells represent the:
a. value of the objective function
b. constraints
c. decision variables
d. total cost of the model

ANS: C PTS: 1 MSC: AACSB: Analytic


9. The term nonnegativity refers to the condition where:
a. the objective function cannot be less that zero
b. the decision variables cannot be less than zero
c. the right hand side of the constraints cannot be greater then zero
d. the reduced cost cannot be less than zero

ANS: B PTS: 1 MSC: AACSB: Analytic


10. In most cases in solving linear programming problems, we want the decision variables to be:
a. equal to zero
b. nonnegative
c. nonpositive
d. All of these options

ANS: B PTS: 1 MSC: AACSB: Analytic


11. The prototype linear programming problem is to select an optimal mix of products to
produce to maximize profit. This type of problem is referred to as the:
a. product mix problem
b. production problem
c. product/process problem

, CHAPTER 13: INTRODUCTION TO OPTIMIZATION MODELING
WITH ANSWERS 100% CORRECT RATEDA+

d. product scheduling problem

ANS: A PTS: 1 MSC: AACSB: Analytic


12. Suppose a liquor store sells beer for a net profit of $1 per unit and wine for a net profit of $2
per unit. Let x equal the amount of beer sold and y equal the amount of wine sold. An
algebraic formulation of the profit function is:
a.

b.

c.

d.


ANS: B PTS: 1 MSC: AACSB: Analytic


13. If a manufacturing process takes 3 hours per unit of x and 5 hours per unit of y and a
maximum of 100 hours of manufacturing process time are available, then an algebraic
formulation of this constraint is: a.

b.

c.