Quiz 4

Question 1
0 out of 2 points

Product mix problems cannot have "greater than or equal to" (≥) constraints. Answer

Selected Answer: True
Correct Answer: False

Question 2
0 out of 2 points

Fractional relationships between variables are permitted in the standard form of a linear program. Answer

Selected Answer: True
Correct Answer: False

Question 3
2 out of 2 points

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. Answer

Selected Answer: True
Correct Answer: True

Question 4
0 out of 2 points

In a transportation problem, a demand constraint (the amount of product demanded at a given destination) is a less-than-or equal-to constraint (≤). Answer

Selected Answer: True
Correct Answer: False

Question 5
2 out of 2 points

A systematic approach to model formulation is to first construct the objective function before determining the decision variables. Answer

Selected Answer: False
Correct Answer: False

Question 6
2 out of 2 points

In formulating a typical diet problem using a linear programming model, we would expect most of the constraints to be related to calories. Answer

Selected Answer: False
Correct Answer: False

Question 7
0 out of 2 points

A systematic approach to model formulation is to first
Answer

Selected Answer: all of the above Correct Answer: define decision variables

Question 8
0 out of 2 points

In a portfolio problem, X1, X2, and X3 represent the number of shares purchased of stocks 1, 2, an 3 which have selling prices of $15, $47.25, and $110, respectively. The investor has up to $50,000 to invest. The expected returns on investment of the three stocks are 6%, 8%, and 11%. An appropriate objective function is
Answer

Selected Answer: MAX .06X1 +.08X2 +.11X3
Correct Answer: MAX .06(15)X1