For a "Dual minimization problem" with optimal point equal to (x1 = 5, x2 = 1) and best Z = 56, its respective "Primal maximization problem " would have Please choose the option that would best fit the empty space above. O Its respective best Z also equal to 56. Shadow prices equal to 1 (x1) and 5 (x2), respectively. Shadow prices exactly the same as the shadow prices obtained in the Primal problem. Exactly the same optimal point. None of the above
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- If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.Lemingtons is trying to determine how many Jean Hudson dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with mean 400 and standard deviation 100. The contract between Jean Hudson and Lemingtons works as follows. At the beginning of the season, Lemingtons reserves x units of capacity. Lemingtons must take delivery for at least 0.8x dresses and can, if desired, take delivery on up to x dresses. Each dress sells for 160 and Hudson charges 50 per dress. If Lemingtons does not take delivery on all x dresses, it owes Hudson a 5 penalty for each unit of reserved capacity that is unused. For example, if Lemingtons orders 450 dresses and demand is for 400 dresses, Lemingtons will receive 400 dresses and owe Jean 400(50) + 50(5). How many units of capacity should Lemingtons reserve to maximize its expected profit?True or False 1. Given three corner points A, B, and C of a linear programming problem, if A is adjacent to B and B is adjacent to C, then A can be determined from C by interchanging exactly two basic and two nonbasic variables. 2. For a set of primary and dual solutions to be feasible, the objective function value of the primary (Z) can never exceed that of the dual (W) no matter which problem is to maximize and which is to minimize. 3. If the current iteration is degenerate, the next iteration will also be degenerate. 4. The optimal (dual) primary solution can be obtained from the dual (primary) optimal tableau.
- Suppose we are solving a maximization problem andthe variable xr is about to leave the basis.a What is the coefficient of xr in the current row 0?b Show that after the current pivot is performed, thecoefficient of xr in row 0 cannot be less than zero.c Explain why a variable that has left the basis on agiven pivot cannot re-enter the basis on the next pivot.A decision problem has the following three constraints: 70X + 6Y <= 420; 24X + 3Y= 72; and 11X - Y <= 14 . The objective function is Min 17X + 38Y . The objective function value is : a. 338 b. 676 c. unbounded d. infeasible e. 01. (i) A consumer has income of £3,000. Apple juice is priced at £3 a bottle and cheese is priced at £6 a kilo. Drawthe budget constraint for a consumer with standard preferences. What is the slope of this budget constraint? (ii) Show a consumer’s budget constraint and indifference curves for apple juice and cheese. Show the optimalconsumption choice. If the price of juice is £3 a bottle and the price of cheese is £6 a kilo, what is the marginalrate of substitution at this optimum? (iii) The price of cheese rises from £6 to £10 a kilo, while the price of juice remains at £3 a bottle. For aconsumer with a constant income of £3,000, show what happens to consumption of juice and cheese.Decompose the change into income and substitution effects.
- We have 60 meters of fence and want to fence a triangular shaped area. Please formulate an NLP (do not try to solve) that will enable us to maximize the fenced area (Hint: The area of a triangle with sides of length a, b, and c is ( s (s – a) (s – b) (s – c))1/2, where s is half the parameter of the triangle).Only Construct Linear Programming Model for the following Problemb; An individual wishes to invest $9000 over the next year in two typar of inventrent linvestment A yinlds 5% and invertment � yields 8%. Market retearch rocotnenends an allocs tion of at least 25% in A and at most 30% in �. Motsover, investment in A should be at least ball the invertmeut in �. How should the fund be allocated to the two imetrinents?what will happen if the right hand side value of a constraint in two variable linear programming problems is changed? a. optimal measure of performance may change b. parallel shift must be made in the graph of that constraint c. optimal valued for one or more of the decision variables may change d. all of the above e. none of the above
- 4. Consider the following linear programming problem: Maximize Z=$15x + $5y, subject to (1) 2x + y ≤ 10 and (2) 4x + 3y ≤ 24 and (3) x, y ≥ 0. Will the optimal solution change if the objective function becomes Maximize Z=$15x + $20y (constraints remain the same)? Select one: a. Can't determine given the information. b. Yes, it will change. c. No, it remains the same.Vladimir Ulanowsky is playing Keith Smithson in atwo-game chess match. Winning a game scores 1 match 19.4 Further Examples of Probabilistic Dynamic Programming Formulations 1029 point, and drawing a game scores 12match point. After thetwo games are played, the player with more match points isdeclared the champion. If the two players are tied after twogames, they continue playing until someone wins a game(the winner of that game will be the champion). Duringeach game, Ulanowsky can play one of two ways: boldly orconservatively. If he plays boldly, he has a 45% chance ofwinning the game and a 55% chance of losing the game. Ifhe plays conservatively, he has a 90% chance of drawing thegame and a 10% chance of losing the game. Ulanowsky’sgoal is to maximize his probability of winning the match.Use dynamic programming to help him accomplish thisgoal. If this problem is solved correctly, even thoughUlanowsky is the inferior player, his chance of winning the match is over 12. Explain this…D) Because of increased competition, Deegan is considering reducing the price of model DRB such that the new contribution to profit is $175 per unit. How would this change in price affect the optimal solution? Explain. The objective coefficient range for model DRB shows a lower limit of $______ . Thus, the optimal solution (will/will not) change and the new value will be $______ . E) If the available manufacturing time is increased by 500 hours, will the dual value for the manufacturing time constraint change? Explain. The allowable increase is _____ minutes, so the dual value for this constraint (will/will not) change. Just please fill in the blanks thank you.