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What is the cost function?
Answer:✔✔ C(x) = mx + b (variable cost + fixed cost)
What is the revenue function?
Answer:✔✔ R(x) = p * x
What is the profit function?
Answer:✔✔ P(x) = R(x) - C(x)
What is the break-even quantity?
Answer:✔✔ R(x) = C(x) or P(x) = 0 (where revenue and cost intersect)
What is the equilibrium point?
Answer:✔✔ S(x) = D(x) (where supply and demand intersect)
How do you determine which number to pivot in simplex method?
Answer:✔✔
(a) Find the most negative element in the last row (pivot column).
(b) For each positive entry above the line in that column, divide the right-side constant by that
element. The smallest ratio identifies the pivot row. If tied, choose the higher row.
(c) The intersection of pivot column and row is the pivot element.
How do you know when you're done pivoting?
Answer:✔✔ When there are no more negative numbers in the bottom row.
, What are elementary operations?
Answer:✔✔ Operations that yield an equivalent system of equations.
When is a matrix in echelon form?
Answer:✔✔
1. Leading one in each row.
2. Zeros below the leading one.
3. Each leading one is to the left of the one in the row below.
4. Zero rows are at the bottom.
What is Gauss elimination?
Answer:✔✔ A method that uses elementary operations to simplify a system for backward
substitution.
What is the order of a matrix?
Answer:✔✔ m × n (m = rows, n = columns)
How do you denote the element in the ith row and jth column of matrix A?
Answer:✔✔ A(ij)
What is the transpose of a matrix?
Answer:✔✔ A^T – switch rows and columns
What is a row matrix?
Answer:✔✔ A matrix with one row
What is a column matrix?
Answer:✔✔ A matrix with one column