Suggested%20Solution%20to%20quiz%203%20-%20#6%2c%20#8%20in%20page%20109

Suggested%20Solution%20to%20quiz%203%20-%20#6%2c%20#8%20in%20page%20109

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Suggested Solution to quiz 3 - #6, #8 in page 109 Question 6 If we expect that the truck would travel empty on its return route, then TL rate would be higher. Considering the example discussed in the chapter, the probability that the truck comes back empty from Illinois (industrial heartland) to New York is lower than the corresponding probability from New York to Illinois which explains the asymmetric cost structure between these two cities. Question 8 An exact optimization technique is guaranteed to provide an optimal solution (if one exists) even if it takes a long time. On the other hand, a heuristic algorithm is a method that will find
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Unformatted text preview: good solutions to the problem in a reasonable amount of time where the terms good and reasonable depend on the heuristic and the particular problem instance. The choice between an exact optimization technique and a heuristic algorithm for a given problem frequently depends on the trade-off between solution quality and solution time. Note that even if a heuristic algorithm (by chance) finds the optimal solution to a problem, it cannot confirm the optimality of the solution. On the other hand, for many problems there are no known optimal algorithms, so heuristics must be used....
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