Busn312 Hw3A Essay

731 WordsApr 2, 20133 Pages
Homework 3A Multiple Choice Identify the choice that best completes the statement or answers the question. __B__ 1. What are the three common elements of an optimization problem? a.|objectives, resources, goals.| b.|decisions, constraints, an objective.| c.|decision variables, profit levels, costs.| d.|decisions, resource requirements, a profit function.| ___A_ 2. What is the goal in optimization? a.|Find the best decision variable values that satisfy all constraints.| b.|Find the values of the decision variables that use all available resources.| c.|Find the values of the decision variables that satisfy all constraints.| d.|None of the above.| ____B 3. Limited resources are modeled in optimization problems as a.|an objective…show more content…
The following linear programming problem has been written to plan the production of two products. The company wants to maximize its profits. X1 = number of product 1 produced in each batch X2 = number of product 2 produced in each batch MAX:|150 X1 + 250 X2| Subject to:|2 X1 + 5 X2 £ 200| |3 X1 + 7 X2 £ 175| |X1, X2 ³ 0| How much profit is earned per each unit of product 2 produced? a.|150| b.|175| c.|200| d.|250| __B__ 10. A company uses 4 pounds of resource 1 to make each unit of X1 and 3 pounds of resource 1 to make each unit of X2. There are only 150 pounds of resource 1 available. Which of the following constraints reflects the relationship between X1, X2 and resource 1? a.|4 X1 + 3 X2 ³ 150| b.|4 X1 + 3 X2 £ 150| c.|4 X1 + 3 X2 = 150| d.|4 X1 £ 150| ___D_ 11. The objective function for a LP model is 3 X1 + 2 X2. If X1 = 20 and X2 = 30, what is the value of the objective function? a.|0| b.|50| c.|60| d.|120| ___B_ 12. Why do we study the graphical method of solving LP problems? a.|Lines are easy to draw on paper.| b.|To develop an understanding of the linear programming strategy.| c.|It is faster than computerized methods.| d.|It

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