Each october the oig releases a ____ outlining its priorities for the fiscal year ahead.
Answer
Correct Answer:
Work Plan
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A(n) ___________ solution satisfies all the constraint expressions simultaneously.
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Correct Answer:
Feasible
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If there were no ______ on the availability of resources, linear programming would not be needed as a decision-making tool.
Answer
Correct Answer:
Restrictions
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______ are constraints in a linear programming problem that do not affect the boundaries of the feasible solution region.
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Correct Answer:
Redundant constraints
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______ is the variety of values of the objective function within which the best values of the decision variables will not change.
Answer
Correct Answer:
Range of optimality
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______ is the determination of how subtle the current optimal solution is to changes in the input parameter values.
Answer
Correct Answer:
Sensitivity
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The ______ in linear programming are alternative courses of action.
Answer
Correct Answer:
Decision variables
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______ is the amount by which the left-hand side values are less than the right-hand side values.
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Slack
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______ has been applied in a variety of industries to address a variety of problems.
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Correct Answer:
Linear programming
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______ is the effect of changing a decision variable that is proportional to its magnitude.
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Correct Answer:
Linear relationship
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______ arise because resources are scarce and decisions have to be made within the limitations imposed by this scarcity.
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Correct Answer:
Constraints
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Every linear programming problem will have an ______ that needs to be either maximized or minimized.
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Correct Answer:
Objective
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The range of values of the objective function within which the best values of the decision variables will not change is known as the ______.
Answer
Correct Answer:
Range of optimality
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______ is a method by which parallel profit lines are plotted in the LP graphical solution approach to determine the maximum profit solution to LP problems with profit maximization objective.
Answer
Correct Answer:
Iso-profit line method
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The constraints that form the corner points at the boundaries of the feasible solution region are known as ______.
Answer
Correct Answer:
Binding constraints
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______ the amount by which the left-hand-side values are greater than the right-hand-side values in LP constraints
Answer
Correct Answer:
Surplus
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The amount by which the left-hand-side values are less than the right-hand-side values in LP constraints is known as
Answer
Correct Answer:
Slack
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Simplex method provides a systematic way of examining the corner or extreme points of the feasible region of more complex LP problems
Answer
Correct Answer:
True
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Which Statement is correct about Shadow price or dual price
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Correct Answer:
It is the price one would be willing to pay for acquiring an additional unit of that resource
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_______ determination in the LP technique of how sensitive the current optimal solution is to changes in the input parameter values
Answer
Correct Answer:
Sensitivity or post-optimality analysis
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Constraints in an LP problem that do not affect the boundaries of the feasible solution region is known as
Answer
Correct Answer:
Redundant constraints
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The range of values of the objective function within which the optimal values of the decision variables will not change is known as
Answer
Correct Answer:
Range of optimality
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Range of feasibility is the limited range over which the shadow price ______
Answer
Correct Answer:
Remains constant
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Which is the correct statement of Objective function ?
Answer
Correct Answer:
The objective of an LP problem expressed mathematically
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Multiple optimum solutions every combination of values of the decision variables that falls on that segment of the constraint line
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Correct Answer:
True
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In Linear relationship the effect of changing a decision variable is proportional to its ______
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Correct Answer:
Magnitude
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Iso-profit line method determine the maximum profit solution to LP problems with profit maximization objective
Answer
Correct Answer:
True
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A method by which parallel cost lines are plotted in the LP graphical solution approach to determine the least cost solution to LP problems with cost minimization objective is known as
Answer
Correct Answer:
Iso-cost line method
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_______ in an LP model such as production levels, purchase quantities, and shipping routes that are under the control of the decision maker
Answer
Correct Answer:
Decision variables
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Corner point solution method an approach in ________
Answer
Correct Answer:
Linear programming
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Which of correct statement about Constraints
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Correct Answer:
The limited availability of resources
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The objective function values in the graphical solution method to linear programming problems.This statement is related to
Answer
Correct Answer:
Binding constraints
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