Can you identify the constraint function in the expression 4A + 4.5B + 2.3C >= 600 where A, B and C are decision variables? What are the two basic properties of a linear optimization problem?
In the given constraint function 4A + 4.5B + 2.3C >= 600, we can note following points:
Properties of Linear Optimization function:
Problem of Maximization and Minimization are duals of each other, means if we solve for one then solution of other is automatically given.
Can you identify the constraint function in the expression 4A + 4.5B + 2.3C >= 600...
(a) What do you understand by sensitivity analysis? Why is it important? How can you use the sensitivity ranges to decide whether your recommendations based on the optimal solution of a linear programming problem are robust or not? (b) What is an assignment problem? Briefly discuss the decision variables, the objective function and the constraint requirements in an assignment problem. How do we determine whether a given assignment problem is balanced? Give a real-world example of the assignment problem. (c)...
When many constraints are present in a linear optimization problem, there is a greater chance that a redundant constraint exists. Assume you are trying to maximize an objective function and you have two decision variables, X1 and X2. If a redundant constraint exists, does the constraint become necessary if you try to minimize (instead of maximize) the same objective function? Why? Do you need an objective function to determine if a constraint is redundant? Explain.
Match the following terms to their definition Feasible region Binding constraint [Choose] [Choose A feasible solution for which there are no other feasible points with a better objective function value in the entire feasible region. The change in the optimal objective function value per unit increase in the right-hand side of a constraint Restrictions that limit the settings of the decision variables A controllable input for a linear programming model The expression that defines the quantity to be maximized or...
can anyone help me with this question? 2. An review of intertemporal optimization: Suppose a consumer's utility function is given by U(c,2) where ci is consumption in period 1 and ca is consumption in perio You can assume that the price of consumption does not change between periods 1 and 2. The consumer has $100 at the beginning of period 1 and uses this money to fund consumption across the two periods (i.e. the consumer does not gain additional income...
You’ve been asked to develop a problem that can be used to explain some of the concepts you know to someone who has never heard of linear programming. 1. Formulate a maximization problem such that the following conditions are met (you may not use a problem has appeared on this assignment). Make sure to include all elements of formulation that we have discussed (i.e., objective function, constraints, non-negatives). a. LP problem with two decision variables (using X and Y as...
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S- In the optimal table of the simplex for the following linear programming problem x1, x3, are the basic variables. Min Z=-5X1+3X2+X3 X1+X2-X3<=10 X1+X2+X3<=60 What is the range for the first constraint right hand side for which the optimal table remains feasible? a. b. Is it profitable to increase a unit of resource for the 2nd constraint, if each unit of this resource is purchased for $2? What is the value of objective function and decision variables for this problem?...
1. Consider the unconstrained optimization problem: a. Show that this function is nonconvex. b. Can you identify largest region of feasible set over which the function is convex? (i.e. if you were to find a stationary point in this region you would know it is a local minimum).
Problem 4: Instrumental Variables 4a. What are the two requirements for a valid instrument? We're interested in estimating B, in Wage, BoBEducation,+ u but we have a problem with omitted-variable bias. Instrumental variables can potentially help. 4b. As we've discussed, we need an instrument for (endogenous) education. Do you think the number of children would be a valid instrument? Explain why it passes/fails ech of the two requirements for a valid instrument 4c. Which estimates would you trust more-OLS or...
3. The rate law expression for a chemical reaction can be described by the formula r = kan Where r is the rate of the reaction, C is the concentration, k is the rate constant, and n is the order of the reaction. The following data were collected for a certain chemical reaction: C(gmol/L) 4 2.25 1.5 r(gmol/L.s) 0.400 0.305 0.245 a) Write the linear form of the above equation that you would use for non-linear regression b) From a),...