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Correct answer is false
if a resource constraint has shadow price of 0 it means that there is slack or unused resource in the resource constraint
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If a resource constraint in a linear program has a shadow price of o, it means...
If a company can make multiple products but has a resource constraint, it should proritize its...
If a company can make multiple products but has a resource constraint, it should proritize its production towards products with lower contribution margin per unit of the scare resource. TRUE OR FALSE
True or False? 1. If an LP has multiple optimal solutions, then all solutions have the...
True or False? 1. If an LP has multiple optimal solutions, then all solutions have the same objective function value (such as total profit or cost). 2. As long as all prices (objective coefficients) change within their respective ranges, the optimal solution of a linear program does not change. 3. When a dual price changes within its range, the optimal solution does not change. 4. The solution of a linear program always consists of whole numbers (integers). That is why...
Consider the following linear program Max 3xl +2x2 S.t 1x1 + 1x2 〈 10 3x1 1x2...
Consider the following linear program Max 3xl +2x2 S.t 1x1 + 1x2 〈 10 3x1 1x2 〈 24 1xl t 2x2< 16 And xl, x2> 0. a) Use Excel Solver to find the optimal solution to this problem. State the optimal values of xl, x2, and Z. b) Assume that the objective function coefficient for xl changes from 3 to 5. Does the optimal solution change? c) Assume that the objective function coefficient for x1 remains 3, but the objective...
5. A consumer faces a standard linear budget constraint and has preferences that can be represented...
5. A consumer faces a standard linear budget constraint and has preferences that can be represented by the following utility function: U(x,y)= x + 2 In y. a) Suppose that we have an interior solution. Derive the demand functions for x and y. Denote the price of x by p,, the price of y by p,, and income by m. b) Is it necessarily the case that the optimal consumption is interior the way we assumed in part a)? If...
If the solution to a linear program is ________, no optional solution to the problem can...
If the solution to a linear program is ________, no optional solution to the problem can be found. Select one: a. bounded b. confounded c. unbounded d. optimal
4.132 Answer True or False. 1. A linear inequality constraint always defines a convex feasible re...
4.132 Answer True or False. 1. A linear inequality constraint always defines a convex feasible region 2. A linear equality constraint always defines a convex feasible region. 3. A nonlinear equality constraint cannot give a convex feasible region. 4. A function is convex if and only if its Hessian is positive definite everywhere. 5. An optimum design problem is convex if all constraints are linear and the cost function is convex. 6. A convex programming problem always has an optimum...
2. Consider the linear programm (a) Fill in the initial tableau below in order to start...
2. Consider the linear programm (a) Fill in the initial tableau below in order to start the Big-M Method tableau by performing one pivot operation. (6) The first tableau below is the tableau just before the optimal tableau, and the second one oorresponds to the optimal tableau. Fill in the missing entries for the second one. 1 7 56 M15 25 01 3/2 2 0 0 1/2 0 15/2 #310 0 5/2-1 o 1-1/2 0133/2 a1 a rhs (i) Exhibit...
1-5 ARE CORRECT. I DONT NEED HELP WITH 1-5 I NEED HELP WITH 6-10. SINCE THIS...
1-5 ARE CORRECT. I DONT NEED HELP WITH 1-5 I NEED HELP WITH
6-10. SINCE THIS WHOLE THING IS CONNECTED I PROVIDED THE PREVIOUS
QUESTIONS TO HELP WITH 6-10. AGAIN I NEED 6-10
QUESTION 1 Using C and C2 to represent the objective coefficients of X1 and X2, respectively, the slope of a line for the objective function can be represented by OC Mo none of the above QUESTION 2 The slope of the line representing the equation part of...
Please give a short explanation of each A. The (point) price elasticity of a linear price-response function increases wi...
Please give a short explanation of each A. The (point) price elasticity of a linear price-response function increases with price. True False B. To implement revenue management, capacity must be a fixed number. True False C. For durable/expensive goods, normally the short term price elasticity is lower than the long term price elasticity. True False D. Comparing to theoretical optimal solution, EMSR-a heuristic underestimates protection levels for high fare classes, and resulting in lower booking limits for lower fare classes....
3. 1-10 are True/False questions, Please write True (T) or False (F) next to each question...
3. 1-10 are True/False questions, Please write True (T) or False (F) next to each question 11-20 are multiple choice questions, Please circle the correct answer for each question.(20) 1. The linear programming approach to media selection problems is typically to either maxim The use of LP in solving assignment problems yields solutions of either O or 1 for each An infeasible solution may sometimes be the optimal found by the corner point method the number of ads placed per...
Consider the following linear program Max 3xl +2x2 S.t 1x1 + 1x2 〈 10 3x1 1x2 〈 24 1xl t 2x2< 16 And xl, x2> 0. a) Use Excel Solver to find the optimal solution to this problem. State the optimal values of xl, x2, and Z. b) Assume that the objective function coefficient for xl changes from 3 to 5. Does the optimal solution change? c) Assume that the objective function coefficient for x1 remains 3, but the objective...
5. A consumer faces a standard linear budget constraint and has preferences that can be represented by the following utility function: U(x,y)= x + 2 In y. a) Suppose that we have an interior solution. Derive the demand functions for x and y. Denote the price of x by p,, the price of y by p,, and income by m. b) Is it necessarily the case that the optimal consumption is interior the way we assumed in part a)? If...
4.132 Answer True or False. 1. A linear inequality constraint always defines a convex feasible region 2. A linear equality constraint always defines a convex feasible region. 3. A nonlinear equality constraint cannot give a convex feasible region. 4. A function is convex if and only if its Hessian is positive definite everywhere. 5. An optimum design problem is convex if all constraints are linear and the cost function is convex. 6. A convex programming problem always has an optimum...
2. Consider the linear programm (a) Fill in the initial tableau below in order to start the Big-M Method tableau by performing one pivot operation. (6) The first tableau below is the tableau just before the optimal tableau, and the second one oorresponds to the optimal tableau. Fill in the missing entries for the second one. 1 7 56 M15 25 01 3/2 2 0 0 1/2 0 15/2 #310 0 5/2-1 o 1-1/2 0133/2 a1 a rhs (i) Exhibit...
1-5 ARE CORRECT. I DONT NEED HELP WITH 1-5 I NEED HELP WITH
6-10. SINCE THIS WHOLE THING IS CONNECTED I PROVIDED THE PREVIOUS
QUESTIONS TO HELP WITH 6-10. AGAIN I NEED 6-10
QUESTION 1 Using C and C2 to represent the objective coefficients of X1 and X2, respectively, the slope of a line for the objective function can be represented by OC Mo none of the above QUESTION 2 The slope of the line representing the equation part of...
3. 1-10 are True/False questions, Please write True (T) or False (F) next to each question 11-20 are multiple choice questions, Please circle the correct answer for each question.(20) 1. The linear programming approach to media selection problems is typically to either maxim The use of LP in solving assignment problems yields solutions of either O or 1 for each An infeasible solution may sometimes be the optimal found by the corner point method the number of ads placed per...
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