MAT 540Quantitative MethodsWEEK 1Quiz 1 (2 Sets)WEEK 2.docx

MAT 540
Quantitative Methods
WEEK 1
Quiz 1 (2 Sets)
WEEK 2
Discussion 1 and 2
WEEK 5
Quiz 3 (2 Sets)
WEEK 6
Discussion 1 and 2
Quiz 4 (2 Sets)
Midterm Exam
WEEK 7
Assignment 3, Case Problem, Julia's Food Booth
Discussion 1 and 2
WEEK 8
Discussion 1 and 2
WEEK 9
Discussion 1 and 2
Quiz 5 (2 Sets)
Assignments:
Week 3 Assignment 1
:
JET Copies Case Problem

Read the “JET Copies” Case Problem on pages 678-679 of the
text. Using simulation estimate the loss of revenue due to
copier breakdown for one year, as follows:
In Excel, use a suitable method for generating the number of
days needed to repair the copier, when it is out of service,
according to the discrete distribution shown.
In Excel, use a suitable method for simulating the interval
between successive breakdowns, according to the continuous
distribution shown.
In Excel, use a suitable method for simulating the lost revenue
for each day the copier is out of service.
Put all of this together to simulate the lost revenue due to copier
breakdowns over 1 year to answer the question asked in the case
study.
In a word processing program, write a brief
description/explanation of how you implemented each
component of the model. Write 1-2 paragraphs for each
component of the model (days-to-repair; interval between
breakdowns; lost revenue; putting it together).
Answer the question posed in the case study. How confident are
you that this answer is a good one? What are the limits of the
study? Write at least one paragraph.
Week 4 Assignment 2: Internet Field Trip - Forecasting
Methods
1. Research: Research at least six (6) information sources on
forecasting methods; take notes and record and interpret
significant facts, meaningful graphics, accurate sounds and
evaluated alternative points of view.
2. Preparation: Produce as storyboard with thumbnails of at
least ten (10) slides. Include the following elements:
Title of slide, text, background color, placement & size of
graphic, fonts - color, size, type for text and headings
Hyperlinks (list URLs of any site linked from the slide),
narration text, and audio files (if any)

o Number on slides clear
o Logical sequence to the presentation
3. Content: Provide written content with the following
elements:
o introduction that presents the overall topic (clear sense of
the project’s main idea) and draws the audience into the
presentation with compelling questions or by relating to the
audience's interests or goals.
o accurate, current
o clear, concise, and shows logical progression of ideas and
supporting information
o motivating questions and advanced organizers
o drawn mainly from primary sources
4. Text Elements: Slides should have the following
characteristics:
o fonts are easy-to-read; point size that varies appropriately
for headings and text
o italics, bold, and indentations enhance readability
o background and colors enhance the readability of text
o appropriate in length for the target audience; to the point
5. Layout: The layout should have the following
characteristics:
o visually pleasing
o contributes to the overall message
o appropriate use of headings, subheadings and white space
6. Media: The graphics, sound, and/or animation should
o assist in presenting an overall theme and enhance
understanding of concept, ideas and relationships
o have original images that are created using proper size and
resolution; enhance the content
o have a consistent visual theme.
7. Citations: The sources of information should:
o properly cited so that the audience can determine the
credibility and authority of the information presented
o be properly formatted according to APA style

Week 7 Assignment 3 Case Problem - Julia’s Food Booth
Julia is a senior at Tech, and she’s investigating different ways
to finance her final year at school. She is considering leasing a
food booth outside the Tech stadium at home football
games. Tech sells out every home game, and Julia knows, from
attending the games herself, that everyone eats a lot of
food. She has to pay $1,000 per game for a booth, and the
booths are not very large. Vendors can sell either food or drinks
on Tech property, but not both. Only the Tech athletic
department concession stands can sell both inside the
stadium. She thinks slices of cheese pizza, hot dogs, and
barbecue sandwiches are the most popular food items among
fans and so these are the items she would sell.
Most food items are sold during the hour before the game starts
and during half time; thus it will not be possible for Julia to
prepare the food while she is selling it. She must prepare the
food ahead of time and then store it in a warming oven. For
$600 she can lease a warming oven for the six-game home
season. The oven has 16 shelves, and each shelf is 3 feet by 4
feet. She plans to fill the oven with the three food items before
the game and then again before half time.
Julia has negotiated with a local pizza delivery company to
deliver 14-inch cheese pizzas twice each game – 2 hours before
the game and right after the opening kickoff. Each pizza will
cost her $4.50 and will include 6 slices. She estimates it will
cost her $0.50 for each hot dog and $1.00 for each barbecue
sandwich if she makes the barbecue herself the night
before. She measured a hot dog and found it takes up about 16
in
2
of space, whereas a barbecue sandwich takes up about 25 in

2
. She plans to sell a piece of pizza for $1.50 and a hot dog for
$1.60 each and a barbecue sandwich for $2.25. She has $1,500
in cash available to purchase and prepare the food items for the
first home game; for the remaining five games she will purchase
her ingredients with money she has made from the previous
game.
Julia has talked to some students and vendors who have sold
food at previous football games at Tech as well as at other
universities. From this she has discovered that she can expect
to sell at least as many slices of pizza as hot dogs and barbecue
sandwiches combined. She also anticipates that she will
probably sell at least twice as many hot dogs as barbecue
sandwiches. She believes that she will sell everything she can
stock and develop a customer base for the season if she follows
these general guidelines for demand.
If Julia clears at least $1,000 in profit for each game after
paying all her expenses, she believes it will be worth leasing the
booth.
A. Formulate a linear programming model for Julia that will
help you to advise her if she should lease the booth. Formulate
the model for the first home game. Explain how you derived
the profit function and constraints and show any calculations
that allow you to arrive at those equations.
B. Solve the linear programming model using a computer for
Julia that will help you advise her if she should lease the
booth. In this solution, determine the number of pizza slices,
hot dogs and barbecue sandwiches she should sell at each
game. Also determine the revenues, cost and profit; and do an
analysis of how much money she actually will make each game
given the expenses of each game.

Do an analysis of the profit solution and what impact it has on
Julia’s ability to have sufficient funds for the next home game
to purchase and prepare the food. What would you recommend
to Julia?
C. If Julia were to borrow some money from a friend before the
first game to purchase more ingredients, she feels she can
increase her profits. What amount, if any, would you
recommend to Julia to borrow?
D. Food prices have been rising lately. Assume purchase costs
for the food is now $6.00 for each pizza, $0.75 for each hot dog,
and $1.25 for each barbecue sandwich. Repeat the analysis of
Part B. What would you recommend to Julia to do at this point?
E. Julia seems to be basing her analysis on the assumptions that
everything will go as she plans. What are some of the uncertain
factors in the model that could go wrong and adversely affect
Julia’s analysis? Given these uncertainties and the results in
(B), (C), and (D), what do you recommend that Julia do? Take
into consideration her profit margin for each game.
Week 10 Assignment 4 Case Problem - Stateline Shipping and
Transport Company
Read the “Stateline Shipping and Transport Company” Case
Problem on pages 273-274 of the text. Analyze this case, as
follows:
1. In Excel, or other suitable program, develop a model for
shipping the waste directly from the 6 plants to the 3 waste
disposal sites.
2. Solve the model you developed in #1 (above) and clearly

describe the results.
3. In Excel, or other suitable program, Develop a
transshipment model in which each of the plants and disposal
sites can be used as intermediate points.
4. Solve the model you developed in #3 (above) and clearly
describe the results.
5. Interpret the results and draw conclusions that address the
question posed in the case problem. What are the limits of the
study? Write at least one paragraph.
There are two deliverables for this Case Problem, 1)the Excel
spreadsheet, with the different solutions given in separate
worksheets, and 2) an accompanying written
description/explanation (submitted as a Word document).
Please submit both of them electronically via the drop box.
Discussion Questions:
Week 2:
What are some benefits of using decision trees? In what ways
can decision trees be used for business decisions? Name some
real-world examples.
How does the science of probability affect decisions? Why?
Week 3:
Why do we use pseudorandom numbers in simulations? How do
pseudorandom numbers affect the accuracy of a simulation?
What is the role of statistical analysis in simulation?
Week 4:

Choose one of the forecasting methods and explain the rationale
behind using it in real-life. Describe how a domestic fast food
chain with plans for expanding into China would be able to use
a forecasting model.
What is the difference between a causal model and a time-
series model? Give an example of when each would be used.
What are some of the problems and drawbacks of the moving
average forecasting model? How do you determine how many
observations to average in a moving average model? How do
you determine the weightings to use in a weighted moving
average model?
Week 6:
What are some business uses of a linear programming model?
Provide an example.
In the graphical method, how do you know when a problem is
infeasible, unbounded, or when it has multiple optimal
solutions? What are the essential ingredients of an LP model?
Why is it helpful to understand the characteristics of LP
models?
Not very many real world examples use only two variables, and
those that do can usually be solved much more easily by guess
and check methods rather than LP models. Why then do we
study the graphical method? Be specific.
Distinguish between a minimization and maximization LP
model. How do you know which of these to use for any given
problem?
Give examples of both a minimization LP model and a
maximization LP model. Every minimization model has a
related maximization model. In what way do you think they are

related?
Week 7:
What does the shadow price reflect in a maximization problem?
Please explain. How do the graphical and computer-based
methods of solving LP problems differ? In what ways are they
the same? Under what circumstances would you prefer to use
the graphical approach?
How does sensitivity analysis affect the decision making
process? How could it be used by managers?
In many ways, shadow prices are far more important results of
an LP model then the optimal solution. Explain. Make sure that
your answer provides context to the nature and utility of shadow
prices.
Week 8:
What is the relationship between decision variables and the
objective function? What is the difference between an objective
function and a constraint?
Does the linear programming approach apply the same way in
different applications? Explain why or why not using examples.
Many LP models can be viewed through the lens of a
Transpotation model. Choose one of the following types of
problem and explain how to see it as a Transportation problem.
That is, explain what the "goods" we are shipping are, what the
"roads" we are shipping along are, what the costs of "shipping"
are, what the supply" and "demand" are:

Week 9:
Explain how the applications of Integer programming differ
from those of linear programming. Why is “rounding-down” an
LP solution a suboptimal way to solve Integer programming
problems?
Explain the characteristics of integer programming problems.
Give specific instances in which you would use an integer
programming model rather than an LP model. Provide real-
world examples.
Do you think Integer Programming or Linear Programming has
more real world applications? Why? If Integer Programming is
more prevalent, why do we focus so much on Linear
Programming in this course? If Linear Programming is more
prevalent, what do you think the challenges are facing Linear
Programmers (since software like QM can handle all the
computations)?
Explain the characteristics of integer programming
problems. Give specific instances in which you would use an
integer programming model rather than an LP model. Provide
real-world examples.
Quizzes:
Week 1 Quiz 1:
Which of the following is incorrect with respect to the use of
models in decision making?
The probabilities of mutually exclusive events sum to zero.
The term decision analysis refers to testing how a problem

solution reacts to changes in one or more of the model
parameters.
Variable costs are independent of volume and remain constant.
A frequency distribution is an organization of numerical data
about the events in an experiment.
Objective probabilities that can be stated prior to the occurrence
of an event are
A set of events is collectively exhaustive when it includes
_______ the events that can occur in an experiment.
Which of the following is not an alternative name for
management science?
Which of the following is an equation or an inequality that
expresses a resource restriction in a mathematical model?
____________ techniques include uncertainty and assume that
there can be more than one model solution.
A ___________ probability is the probability that two or more
events that are not mutually exclusive can occur simultaneously.
Total cost equal the fixed cost plus the variable cost per unit
divided by volume.
Profit is the difference between total revenue and total cost.
The events in an experiment are mutually exclusive if only one
can occur at a time.
In a given experiment, the probabilities of all mutually
exclusive events sum to one.
An experiment is an activity that results in one of several
possible outcomes.
Fixed costs depend on the number of items produced.
The steps of the scientific method are:
A model is a functional relationship and include:
In a given experiment the probabilities of mutually exclusive
events sum to
Week 3 Quiz 2:
The coefficient of optimism is a measure of the decision

maker's optimism.
A payoff table is a means of organizing a decision situation,
including the payoffs from different decisions given the various
states of nature.
The maximin criterion results in the maximum of the minimum
payoffs.
A state of nature is an actual event that may occur in the future.
The ______________ minimizes the maximum regret.
The maximin criterion results in the
A dominant decision is one that has better payoff than another
decision under each state of nature.
The maximin approach to decision making refers to
The maximax criterion results in the maximum of the minimum
payoffs.
Determining the worst payoff for each alternative and choosing
the alternative with the best worst is called
The Hurwicz criterion is a compromise
The maximax criterion results in the
Regret is the difference between the payoff from the best
decision and all other decision payoffs.
Regret is the difference between the payoff from the
The minimax regret criterion
The Hurwicz criterion is a compromise between the maximax
and maximin criteria.
The term opportunity loss is most closely related to
The equal likelihood criterion multiplies the decision payoff for
each state of nature by an equal weight.
The basic decision environment categories are
Expected opportunity loss is the expected value of the regret for
each decision.
Week 5 Quiz 3:
The terms in the objective function or constraints are not
additive.

A feasible solution violates at least one of the constraints.
Which of the following could not be a linear programming
problem constraint?
In a linear programming problem, a valid objective function can
be represented as
Non-negativity constraints restrict the decision variables to
negative values.
A graphical solution is limited to linear programming problems
with
A constraint is a linear relationship representing a restriction on
decision making.
Linear programming is a model consisting of linear
relationships representing a firm's decisions given an objective
and resource constraints.
Non-negativity constraints
Decision models are mathematical symbols representing levels
of activity.
Which of the following could be a linear programming objective
function?
Decision variables
A linear programming model consists of decision variables,
constraints, but no objective function.
The region which satisfies all of the constraints in a graphical
linear programming problem is called the
The _______________ property of linear programming models
indicates that the decision variables cannot be restricted to
integer values and can take on any fractional value.
The production manager for the Coory soft drink company is
considering the production of 2 kinds of soft drinks: regular and
diet. Two of the limited resources are production time (8 hours
= 480 minutes per day) and syrup limited to 675 gallons per
day. To produce a regular case requires 2 minutes and 5 gallons
of syrup, while a diet case needs 4 minutes and 3 gallons of
syrup. Profits for regular soft drink are $3.00 per case and
profits for diet soft drink are $2.00 per case. What is the time
constraint?

Cully furniture buys 2 products for resale: big shelves (B) and
medium shelves (M). Each big shelf costs $500 and requires 100
cubic feet of storage space, and each medium shelf costs $300
and requires 90 cubic feet of storage space. The company has
$75000 to invest in shelves this week, and the warehouse has
18000 cubic feet available for storage. Profit for each big shelf
is $300 and for each medium shelf is $150. What is the
objective function?
In a linear programming model, the numberof constraints must
be less than the number of decision variables.
Proportionality means the slope of a constraint or objective
function line is not constant.
The objective function is a linear relationship reflecting the
objective of an operation.
Week 6 Quiz 4:
The standard form for the computer solution of a linear
programming problem requires all variables to the right and all
numerical values to the left of the inequality or equality sign
_________ is maximized in the objective function by
subtracting cost from revenue.
A croissant shop produces 2 products: bear claws (B) and
almond filled croissants (C). Each bear claw requires 6 ounces
of flour, 1 ounce of yeast, and 2 TS of almond paste. An almond
filled croissant requires 3 ounces of flour, 1 ounce of yeast, and
4 TS of almond paste. The company has 6600 ounces of flour,
1400 ounces of yeast, and 4800 TS of almond paste available
for today's production run. Bear claw profits are 20 cents each,
and almond filled croissant profits are 30 cents each. What is
the optimal daily profit?
In an unbalanced transportation model, supply does not equal
demand and supply constraints have signs.
The production manager for Liquor etc. produces 2 kinds of
beer: light and dark. Two of his resources are constrained: malt,

of which he can get at most 4800 oz per week; and wheat, of
which he can get at most 3200 oz per week. Each bottle of light
beer requires 12 oz of malt and 4 oz of wheat, while a bottle of
dark beer uses 8 oz of malt and 8 oz of wheat. Profits for light
beer are $2 per bottle, and profits for dark beer are $1 per
bottle. What is the objective function?
In a media selection problem, the estimated number of
customers reached by a given media would generally be
specified in the _________________. Even if these media
exposure estimates are correct, using media exposure as a
surrogate does not lead to maximization of ______________.
The owner of Chips etc. produces 2 kinds of chips: Lime (L)
and Vinegar (V). He has a limited amount of the 3 ingredients
used to produce these chips available for his next production
run: 4800 ounces of salt, 9600 ounces of flour, and 2000 ounces
of herbs. A bag of Lime chips requires 2 ounces of salt, 6
ounces of flour, and 1 ounce of herbs to produce; while a bag of
Vinegar chips requires 3 ounces of salt, 8 ounces of flour, and 2
ounces of herbs. Profits for a bag of Lime chips are $0.40, and
for a bag of Vinegar chips $0.50. Which of the following is not
a feasible production combination?
When formulating a linear programming model on a
spreadsheet, the measure of performance is located in the target
cell.
In a balanced transportation model, supply equals demand such
that all constraints can be treated as equalities.
In a media selection problem, instead of having an objective of
maximizing profit or minimizing cost, generally the objective is
to maximize the audience exposure.
____________ solutions are ones that satisfy all the constraints
simultaneously.
The production manager for the Softy soft drink company is
considering the production of 2 kinds of soft drinks: regular and
diet. Two of her resources are constraint production time (8
hours = 480 minutes per day) and syrup (1 of her ingredient)
limited to 675 gallons per day. To produce a regular case

requires 2 minutes and 5 gallons of syrup, while a diet case
needs 4 minutes and 3 gallons of syrup. Profits for regular soft
drink are $3.00 per case and profits for diet soft drink are $2.00
per case. What is the optimal daily profit?
Determining the production quantities of different products
manufactured by a company based on resource constraints is a
product mix linear programming problem.
When using linear programming model to solve the "diet"
problem, the objective is generally to maximize profit.
Profit is maximized in the objective function by
Linear programming model of a media selection problem is used
to determine the relative value of each advertising media.
Media selection is an important decision that advertisers have to
make. In most media selection decisions, the objective of the
decision maker is to minimize cost.
The dietician for the local hospital is trying to control the
calorie intake of the heart surgery patients. Tonight's dinner
menu could consist of the following food items: chicken,
lasagna, pudding, salad, mashed potatoes and jello. The calories
per serving for each of these items are as follows: chicken
(600), lasagna (700), pudding (300), salad (200), mashed
potatoes with gravy (400) and jello (200). If the maximum
calorie intake has to be limited to 1200 calories. What is the
dinner menu that would result in the highest calorie in take
without going over the total calorie limit of 1200.
In a multi-period scheduling problem the production constraint
usually takes the form of :
A constraint for a linear programming problem can never have a
zero as its right-hand-side value.
Week 9 Quiz 5:
In a _______ integer model, some solution values for decision
variables are integer and others can be non-integer.
In a total integer model, some solution values for decision

In a problem involving capital budgeting applications, the 0-1
variables designate the acceptance or rejection of the different
projects.
If a maximization linear programming problem consist of all
less-than-or-equal-to constraints with all positive coefficients
and the objective function consists of all positive objective
function coefficients, then rounding down the linear
programming optimal solution values of the decision variables
will ______ result in a(n) _____ solution to the integer linear
programming problem.
The branch and bound method of solving linear integer
programming problems is an enumeration method.
In a mixed integer model, all decision variables have integer
solution values.
For a maximization integer linear programming problem,
feasible solution is ensured by rounding _______ non-integer
solution values if all of the constraints are less-than -or equal-
to type.
In a total integer model, all decision variables have integer
solution values.
The 3 types of integer programming models are total, 0 - 1, and
mixed.
The branch and bound method of solving linear integer
programming problems is ________________.
The linear programming relaxation contains the _______ and
the original constraints of the integer programming problem, but
drops all integer restrictions.
The branch and bound method can only be used for
maximization integer programming problems.
The solution value (Z) to the linear programming relaxation of
a minimization problem will always be less than or equal to the
optimal solution value (Z) of the integer programming
minimization problem
The implicit enumeration method
Types of integer programming models are _____________.

In a 0 - 1 integer model, the solution values of the decision
variables are 0 or 1.
Which of the following is not an integer linear programming
problem?
In a mixed integer model, some solution values for decision
Rounding small values of decision variables to the nearest
integer value causes ______________ problems than rounding
large values.
In using rounding of a linear programming model to obtain an
integer solution, the solution is
Week 6 Midterm Exam:
___________ is a technique for selecting numbers randomly
from a probability distribution.
Monte Carlo is a technique for selecting numbers randomly
from a probability distribution.
Analogue simulation replaces a physical system with an
analogous physical system that is _____________ to
manipulate.
Variable costs are independent of volume and remain constant.
Regret is the difference between the payoff from the best
decision and all other decision payoffs.
The maximin criterion results in the
A payoff table is a means of organizing a decision situation,
including the payoffs from different decisions given the various
states of nature.
In a weighted moving average, weights are assigned to most
__________ data.
The maximin criterion results in the maximum of the minimum
payoffs.
A state of nature is an actual event that may occur in the future.
Which of the following is not an alternative name for
management science?
A _________ period of real time is represented by a

__________ period of simulated time.
Simulation results will not equal analytical results unless
___________ trials of the simulation have been conducted to
reach steady state.
The minimax regret criterion
Objective probabilities that can be stated prior to the occurrence
of an event are
Which of the following is incorrect with respect to the use of
models in decision making?
The steps of the scientific method are:
A seasonal pattern is an up-and-down repetitive movement
within a trend occurring periodically.
The maximax criterion results in the
____________ techniques include uncertainty and assume that
there can be more than one model solution.
The maximax criterion results in the maximum of the minimum
payoffs.
Regret is the difference between the payoff from the
A long period of real time is represented by a short period of
simulated time.
A trend is a gradual, long-term, up or down movement of
demand.
____________ use management judgment, expertise, and
opinion to make forecasts.
____________ moving averages react more slowly to recent
demand changes than do ____________ moving averages.
In computer mathematical simulation a system is replicated with
a mathematical model that is analyzed.
Which of the following is an equation or an inequality that
expresses a resource restriction in a mathematical model?
Analogue simulation replaces a physical system with an
analogous physical system that is easier to manipulate.
An experiment is an activity that results in one of several
possible outcomes.
Random numbers are equally likely to occur.
An example of forecasting is

The ______________ minimizes the maximum regret.
____________ is an up-and-down repetitive movement in
demand.
It's often ____________ to validate that the results of a
simulation truly replicate reality.
A short period of real time is represented by a long period of
simulated time.
In computer mathematical simulation, a system is replicated
with a mathematical model that is analyzed with the computer.
A cycle is an up-and-down repetitive movement in demand.
Profit is the difference between total revenue and total cost.
A model is a functional relationship and include:
Week 11 Final Exam:
Which of the following could be a linear programming objective
function?
Which of the following could not be a linear programming
problem constraint?
Types of integer programming models are _____________
The production manager for Beer etc. produces 2 kinds of beer:
light (L) and dark (D). Two resources used to produce beer are
malt and wheat. He can obtain at most 4800 oz of malt per week
and at most 3200 oz of wheat per week respectively. Each bottle
of light beer requires 12 oz of malt and 4 oz of wheat, while a
bottle of dark beer uses 8 oz of malt and 8 oz of wheat. Profits
for light beer are $2 per bottle, and profits for dark beer are $1
per bottle. If the production manager decides to produce of 0
bottles of light beer and 400 bottles of dark beer, it will result
in slack of
The reduced cost (shadow price) for a positive decision variable
is 0
Decision variables
A plant manager is attempting to determine the production
schedule of various products to maximize profit. Assume that a
machine hour constraint is binding. If the original amount of
machine hours available is 200 minutes., and the range of

feasibility is from 130 minutes to 340 minutes, providing two
additional machine hours will result in the
Decision models are mathematical symbols representing levels
of activity.
The integer programming model for a transportation problem
has constraints for supply at each source and demand at each
destination.
In a transportation problem, items are allocated from sources to
destinations
In a media selection problem, the estimated number of
customers reached by a given media would generally be
specified in the _________________. Even if these media
exposure estimates are correct, using media exposure as a
surrogate does not lead to maximization of ______________.
____________ solutions are ones that satisfy all the constraints
simultaneously.
In a linear programming problem, a valid objective function can
be represented as
The standard form for the computer solution of a linear
programming problem requires all variables to the right and all
numerical values to the left of the inequality or equality sign
Constraints representing fractional relationships such as the
production quantity of product 1 must be at least twice as much
as the production quantity of products 2, 3 and 4 combined
cannot be input into computer software packages because the
left side of the inequality does not consist of consists of pure
numbers.
In a balanced transportation model where supply equals demand
The objective function is a linear relationship reflecting the
objective of an operation.
The owner of Chips etc. produces 2 kinds of chips: Lime (L)
and Vinegar (V). He has a limited amount of the 3 ingredients
used to produce these chips available for his next production
run: 4800 ounces of salt, 9600 ounces of flour, and 2000 ounces
of herbs. A bag of Lime chips requires 2 ounces of salt, 6
ounces of flour, and 1 ounce of herbs to produce; while a bag of

Vinegar chips requires 3 ounces of salt, 8 ounces of flour, and 2
ounces of herbs. Profits for a bag of Lime chips are $0.40, and
for a bag of Vinegar chips $0.50. Which of the following is not
a feasible production combination?
The linear programming model for a transportation problem has
constraints for supply at each source and demand at each
destination.
For a maximization problem, assume that a constraint is
binding. If the original amount of a resource is 4 lbs., and the
range of feasibility (sensitivity range) for this constraint is
from
3 lbs. to 6 lbs., increasing the amount of this resource by 1 lb.
will result in the
In a total integer model, all decision variables have integer
solution values.
Linear programming is a model consisting of linear
relationships representing a firm's decisions given an objective
and resource constraints.
When using linear programming model to solve the "diet"
problem, the objective is generally to maximize profit.
In a balanced transportation model where supply equals
demand, all constraints are equalities.
In a transportation problem, items are allocated from sources to
destinations at a minimum cost.
Mallory Furniture buys 2 products for resale: big shelves (B)
and medium shelves (M). Each big shelf costs $500 and requires
100 cubic feet of storage space, and each medium shelf costs
$300 and requires 90 cubic feet of storage space. The company
has $75000 to invest in shelves this week, and the warehouse
has 18000 cubic feet available for storage. Profit for each big
shelf is $300 and for each medium shelf is $150. Which of the
following is not a feasible purchase combination?
In a mixed integer model, some solution values for decision
In a 0 - 1 integer model, the solution values of the decision

variables are 0 or 1.
When the right-hand sides of 2 constraints are both increased by
1 unit, the value of the objective function will be adjusted by
the sum of the constraints' prices.
The transportation method assumes that
A constraint is a linear relationship representing a restriction on
decision making.
When formulating a linear programming model on a
spreadsheet, the measure of performance is located in the target
cell.
The linear programming model for a transportation problem has
constraints for supply at each ________ and _________ at each
destination.
The 3 types of integer programming models are total, 0 - 1, and
mixed.
In using rounding of a linear programming model to obtain an
integer solution, the solution is
If we use Excel to solve a linear programming problem instead
of
QM for Windows
,
then the data input requirements are likely to be much less
tedious and time consuming.
In a _______ integer model, some solution values for decision
Which of the following is not an integer linear programming
problem?

MAT 540Quantitative MethodsWEEK 1Quiz 1 (2 Sets)WEEK 2.docx

MAT 540Quantitative MethodsWEEK 1Quiz 1 (2 Sets)WEEK 2.docx

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