Consider the following set of constraints: 48Y >= 7296; 0.25 X + 12Y >= 1824, and X + Y <= 152. Pick a suitable statement for this problem: a. Solution to this problem cannot be found without the objective function. b. The feasible region is defined by a single (unique) point. c. It is a non-linear problem - unsuitable for grphical method. d. This problem has two feasible points - one is optimal for miniization problem and other is optimal for maximization problem. e. Feasible region is represented by a line and multiple feasible points are available.

Consider the following set of constraints: 48Y >= 7296; 0.25 X + 12Y >= 1824, and X + Y <= 152. Pick a suitable statement for this problem: a. Solution to this problem cannot be found without the objective function. b. The feasible region is defined by a single (unique) point. c. It is a non-linear problem - unsuitable for grphical method. d. This problem has two feasible points - one is optimal for miniization problem and other is optimal for maximization problem. e. Feasible region is represented by a line and multiple feasible points are available.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 34P

See similar textbooks

Similar questions

1. If constraint has a shadow price of $6, Right-Hand-Side (RHS) is 12, allowable increase is 2, allowable decrease is 4. How would objective function change if the RHS of this constrains changes from 12 to 9? Answer___________
a.) Formulate a LP model of this problem
In problems involving maximization and minimization, what is the objective function? States intended outcome in equation form Incorporates constraint of maximum budget Lists set of potential restrictions on the solution Cites constraints to ensure objectivity
find the a. decision variables b. objective function c. constraints
For the remaining questions, consider the following problem description: An oil company is considering exploring new well sites S₁, S2, ..., S10 with respective costs C1, C2, C10. And in particular they want to find the least-cost selection of 5 out of the 10 possible sites. The binary decision variables x₁,x2,..., X10 denote the decision to explore the corresponding site.
9. Which of the following is NOT a requirement of a linear programming problem? Select one: a. constraints, expressed as linear equations or inequalities b. an objective function to be maximized or minimized c. an objective function, expressed in linear terms d. alternative courses of action e. one constraint for each decision variable
Don't solve. Please give- Decision Variable Constraint Objective function
Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client's needs. For a new client, Innis has been authorized to invest up to $1.2 million in two investment funds: a stock fund and a money market fund. Each unit of the stock fund costs $50 and provides an annual rate of return of 10%; each unit of the money market fund costs $100 and provides an annual rate of return of 4%. The client wants to minimize risk subject to the requirement that the annual income from the investment be at least $60,000. According to Innis' risk measurement system, each unit invested in the stock fund has a risk index of 8, and each unit invested in the money market fund has a risk index of 3. The higher risk index associated with the stock fund simply indicates that it is the riskier investment. Innis's client also specified that at least $300,000 be invested in the money market fund. Refer to the computer solution shown below. Optimal…
1. A specific assignment of values to decision variables is called what? a. Constraint b. Feasible c. Solution d. None of the above 2. Which of the following must be true of a feasible solution a. All of what Solver calls changing variables must be greater than 0 b. It is optimal c. It violates no constraints d. None of the above
Which of the following is true? a)The maximin criterion is an approach in Optimization under uncertainty which finds a solution that has the best possible payoff. b)The maximin criterion is an approach in Optimization under uncertainty which finds a solution with the best worst possible payoff. c)A risk profile represents the probability distribution of uncertain inputs. d)Decision tree is a method to solve any optimization problem when the outcomes are subject to uncertainty.
A plumbing repair company has 2 employees and must choose which of 2 jobs to assign each to (each employee is assigned to exactly one job and each job must have someone assigned). a. How many decision variables will the linear programming model include? Number of decision variables b. How many fixed requirement constraints will the linear programming model include? Number of fixed requirement constraints
Consider the following LP problem: Min 6X+ 27Y Subject to : 2 X + 9Y => 25, and X + Y <= 75. Pick a suitable statement for this problem: a. X=37.5, Y=37.5 is the only optimal solution. b. Optimal Obj. function value is 75 c. X = 0, Y = 0 is the only optimal solution. d. Optimal Obj. function value is 0