QNT 2020 FINAL EXAM QUESTIONS WITH VERIFIED
ANSWERS
The best feasible solution is called - Answers - optimal solution.
When using the graphical method, the region that satisfies all of the constraints of a
linear programming problem is called the - Answers - feasible region.
When applying nonlinear programming to portfolio selection, a trade-off is being made
between - Answers - the expected return and the risk associated with the investment.
When formulating a linear programming model on a spreadsheet, the measure of
performance is located - Answers - in the objective cell.
Approximations and simplifying assumptions generally are required t - Answers - o have
a workable model.
Once a linear programming problem has been formulated, it is rare to make major
adjustments to it. - Answers - False
For cost-benefit-tradeoff problems, minimum acceptable levels for each kind of benefit
are prescribed and the objective - Answers - is to achieve all these benefits with
minimum cost.
All constraints in a linear programming problem are either ≤ or ≥ inequalities. - Answers
- False
Linear programming problems may have multiple goals or objectives specified. -
Answers - False
Constraints limit the alternatives available to a decision maker. - Answers - True
The production planner for Fine Coffees, Inc. produces two coffee blends: American (A)
and British (B). He can only get 300 pounds of Colombian beans per week and 200
pounds of Dominican beans per week. Each pound of American blend coffee requires
12 ounces of Colombian beans and 4 ounces of Dominican beans, while a pound of
British blend coffee uses 8 ounces of each type of bean. Profits for the American blend
are $2.00 per pound, and profits for the British blend are $1.00 per pound. The goal of
Fine Coffees, Inc. is to maximize profits.What is the constraint for Dominican beans? -
Answers - Since each pound of A uses 12 ounces of Dominican beans and each pound
of B uses 8 ounces of Dominican beans, it is convenient to convert the supply of
Dominican beans to ounces (200 pounds = 3,200 ounces). Then the constraint should
ANSWERS
The best feasible solution is called - Answers - optimal solution.
When using the graphical method, the region that satisfies all of the constraints of a
linear programming problem is called the - Answers - feasible region.
When applying nonlinear programming to portfolio selection, a trade-off is being made
between - Answers - the expected return and the risk associated with the investment.
When formulating a linear programming model on a spreadsheet, the measure of
performance is located - Answers - in the objective cell.
Approximations and simplifying assumptions generally are required t - Answers - o have
a workable model.
Once a linear programming problem has been formulated, it is rare to make major
adjustments to it. - Answers - False
For cost-benefit-tradeoff problems, minimum acceptable levels for each kind of benefit
are prescribed and the objective - Answers - is to achieve all these benefits with
minimum cost.
All constraints in a linear programming problem are either ≤ or ≥ inequalities. - Answers
- False
Linear programming problems may have multiple goals or objectives specified. -
Answers - False
Constraints limit the alternatives available to a decision maker. - Answers - True
The production planner for Fine Coffees, Inc. produces two coffee blends: American (A)
and British (B). He can only get 300 pounds of Colombian beans per week and 200
pounds of Dominican beans per week. Each pound of American blend coffee requires
12 ounces of Colombian beans and 4 ounces of Dominican beans, while a pound of
British blend coffee uses 8 ounces of each type of bean. Profits for the American blend
are $2.00 per pound, and profits for the British blend are $1.00 per pound. The goal of
Fine Coffees, Inc. is to maximize profits.What is the constraint for Dominican beans? -
Answers - Since each pound of A uses 12 ounces of Dominican beans and each pound
of B uses 8 ounces of Dominican beans, it is convenient to convert the supply of
Dominican beans to ounces (200 pounds = 3,200 ounces). Then the constraint should
