ch17 - File: Ch17; CHAPTER 17: Linear Programming Each...

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Unformatted text preview: File: Ch17; CHAPTER 17: Linear Programming Each question contains a code showing the section of the chapter text from which it was taken. The codes for this chapter are: Code Section 1 Linear Programs 2 Shadow Prices and Sensitivity Analysis 3 Formulation and Computer Solution for Larger LP Problems MULTIPLE CHOICE 1. Linear programming is useful for solving optimization problems involving a) Both linear and nonlinear constraints. b) Linear constraints. c) Bounded and unbounded feasible regions. d) A small number of optimal solutions. e) Optimization using conventional calculus. ANSWER: b SECTION: 1 2. In a linear programming problem, the objective function a) expresses the objective in terms of the relevant decision variables. b) Is the expression to be maximized or minimized. c) Shows the feasible region and its corners. d) Defines each resource constraint. e) Answers a and b are both correct. ANSWER: e SECTION: 1 3. The feasible region contains values of the decision variable that a) Optimize the value of the objective function. b) Are non-negative and finite in magnitude. c) Satisfy all relevant constraints. d) Satisfy only nonbinding constraints. e) Answers a and c are both correct. ANSWER: c SECTION: 1 4. The optimal solution in a linear programming problem a) Is determined by solving all constraints as equalities. 17-1 Linear Programming b) Always exists. c) Typically occurs in the interior of the feasible region. d) Occurs at a corner solution. e) Answers a and b are both correct. ANSWER: d SECTION: 1 5. A small machine shop produces steel shafts and metal plates. The production process uses labor, milling machine hours, and lathe machine hours. The firm tries to identify how many metal shafts and plates to produce per week in order to maximize profit. The decision variables in the problem are the a) Profit contributions of shafts and plates. b) Maximum weekly labor hours available. c) Milling and lathe machine hours available per week. d) Quantities of shafts and plates produced per week. e) The total profit earned by the shop. ANSWER: d SECTION: 1 6. In order to identify the feasible region, one must a) Graph all constraints. b) Plot the objective function contours. c) Identify and graph all nonbinding constraints. d) Solve simultaneously a number of binding equations. e) Determine the optimal corners of the region. ANSWER: a SECTION: 1 7. The profit contribution of product Y is $2 per unit and of X is $4 per unit. The firm wishes to maximize total profit under certain constraints. Each contour of the objective function has slope, Y/ X = a) -4. b) -2. c) 8. d) -.5. e) There is insufficient information to determine the answer. ANSWER: b SECTION: 1 8. In an LP problem, the inequalities, X + 2Y 12 and 3X + 4Y 28, hold as binding constraints. The problems optimal solution is a) X = 0, Y = 6....
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This note was uploaded on 03/11/2012 for the course ECON 333 taught by Professor Barkley during the Fall '08 term at CSU Fullerton.

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ch17 - File: Ch17; CHAPTER 17: Linear Programming Each...

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