MGT 2255 Exam 3

2. Which of the following does not change the feasible region? a. increasing an objective function coefficient in a maximization problem b. adding a new constraint c. increasing the right-hand side of a constraint d. changing a coefficient of a constraint

a. increasing an objective function coefficient in a maximization problem

9. A solution that satisfies all the constraints in an LP problem is called a. the feasible solution b. the optimal solution c. the unbounded solution d. the infeasible solution

a. the feasible solution

A feasible solution to a linear programming problem a. must be a corner point of the feasible region. b. must satisfy all of the problem's constraints simultaneously. c. need not satisfy all of the constraints, only the non-negativity constraints. d. must give the maximum possible profit. e. must give the minimum possible cost.

b. must satisfy all of the problem's constraints simultaneously.

1. A solution that satisfies all the constraints in an LP minimization problem and gives lowest value of the objective function is called a. the unbounded solution b. the optimal solution c. the infeasible solution d. the feasible solution

b. the optimal solution

The simultaneous equation method is a. an alternative to the corner point method. b. useful only in minimization methods. c. an algebraic means for solving the intersection of two or more constraint equations. d. useful only when more than two product variables exist in a product mix problem. e. None of the above

c. an algebraic means for solving the intersection of two or more constraint equations.

4. What is limitation of graphical method over "excel solver" method a. graphical method is not suitable when the number of constraints is more than 2 b. graphical method is not suitable when the number of constraints is more than 4 c. graphical method is not suitable when the number of decision variables is more than 2 d. graphical method is not suitable when either the number of constraints is more than 2 or the number of decision variables is more than 2

c. graphical method is not suitable when the number of decision variables is more than 2

3. The difference between the left-hand side and right-hand side of a less-than-or-equal-to constraint is referred to as a. surplus. b. constraint. c. slack. d. shadow price. e. none of the above

c. slack.

Which of the following is not a part of every linear programming problem formulation? a. an objective function b. a set of constraints c. non-negativity constraints d. a redundant constraint e. maximization or minimization of a linear function

d. a redundant constraint

shadow price

the maximum amounts the manager would pay for additional units of resource.