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BUAL 5380 Final Exam Questions and Answers

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BUAL 5380 Final Exam Questions and Answers

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BUAL 5380 Final Exam Questions and
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Decision Variable - Answer-variables whose values the decision maker is allowed to choose; company
must know these to function properly



objective function - Answer-max or min optimization



constraints - Answer-physical, logical, or economic restrictions that must be satisfied.



changing cells - Answer-excel values of the decision variable



objective cell - Answer-objective to be minimized or maximized



constraints (excel) - Answer-impose restrictions on the values in the changing cells



Steps to solving optimization problem - Answer-1. model development

2. optimize

3. sensitivity analysis



Feasible solution - Answer-solution that satisfies all constaints

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