SCM Quiz 9

Which of the following is NOT a property of all Linear Programming problem? a. usage of only linear equation and inequalities b. optimization of some objective c. a computer program d. the presence of restriction

a computer program

Sensitivity analyses are used to examine the effects of changes in: a. all of the alternatives are correct b. technological coefficients c. contribution rates for each variable d. available resources

all of the alternatives are correct

There are different goals for spreadsheet modeling design, __________ for example, assumes that the manager should be able to retrace the steps followed to generate the different outputs from the model in order to understand and verify results. a. reliability b. communication c. auditability d. modifiability

auditability

A constraint with zero slack or surplus is called a: a. resource constraint b. nonbinding constraint c. binding constraint d. nonlinear constraint

binding constraint

The ____________ of a Linear Programming problem defines its feasible region. a. objective function b. constraints c. decision variables d. input parameters

constraints

The choices that the decision maker can control in the model are called: a. decision variables b. input parameters c. constraints d. objective function

decision variables

An optimization model consists of different parts. _________ represents data that is given and fixed a. objective function b. input parameters c. decision variables d. constraints

input parameters

In production scheduling Linear Programming problems, inventory at the end of this month is set equal to: a. inventory at the end of last month - this month's production + this month's sales b. inventory at the end of last month + this month's production - this month's sales c. inventory at the end of last month + last month's production - this month's sales d. inventory at the beginning of last month + this month's production - this month's sales

inventory at the end of last month + this month's production - this month's sales

A widely used mathematical programming technique designed to help managers and decision making relative to resource allocation is called: a. goal programming b. computer programming c. linear programming d. constraint programming

linear programming

A feasible solution to a Linear Programming problem: a. need not satisfy all of the constraints, only the non negativity constraints b. must give the maximum possible profit c. must give the minimum possible cost d. must satisfy all of the problem's constraints simultaneously

must satisfy all of the problem's constraints simultaneously

An optimization model consists of different parts. __________ represents a function of the decision variables to be maximized or minimized a. objective function b. input parameters c. constraints d. decision variables

objective function

If the addition of a constraint to a Linear Programming problem does not change the solution, the constraint is said to be: a. redundant b. infeasible c. unbounded d. non negative

redundant

Which of the following does not represent a factor a manager might typically consider when employing Linear Programming for a production scheduling? a. labor capacity b. inventory costs c. product demand d. risk assessment

risk assessment

The difference between the left hand side and right hand side of a less than or equal to constraint is referred to as: a. constraint b. slack c. surplus d. shadow price

slack

Which of the following is considered a decision variable in the production mix problem of maximizing profit? a. the amount of raw material b. the selling price of each product c. the number of product types to offer d. the amount of each product to produce

the amount of each product to produce