BUSOBA 2321 MIDTERM QUESTIONS AND ANSWERS 2025

BUSOBA 2321 MIDTERM 2025
ANSWER ALL QUESTIONS IN THIS SECTION



QUESTION 1



What are the components of an LP model? - ANSWERS-1. Decision variables:
values being determined by solution of problem (EX: # of Model A motors to
make)

2. Parameters: values assumed to be known with "certainty" (EX: takes 3 hours to
wire Model A motor)

3. Objective function: max or min description of our purpose for solving the
problem (EX: max profit from sale of motors)

4. Constraints: Limitations on our ability to achieve our objective (EX: only 240
hours of employee time avaliable)



QUESTION 2



What are the 5 assumptions of an LP model? - ANSWERS-1. Certainty

2. Proportionality

3. Additivity

4. Divisibility

5. Non-negativity



QUESTION 3

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, BUSOBA 2321 MIDTERM 2025

What are the four types of solutions to a linear program? - ANSWERS-1. Unique
optimal

2. Multiple optimal

3. Infeasible solution

4. Unbounded



QUESTION 4



What is a unique optimal solution? - ANSWERS-Only 1 corner point will yield the
optimum objective function value



QUESTION 5



What is a multiple optimal solution? - ANSWERS-2 corner points yield the same
objective function value, all points on the line segment connecting the optimal
corner points will also be optimal




QUESTION 6


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