Quantitative Methods: Multiple Choice Questions

1. Max Z = 3×1 + 5×2
   Subject to: 7×1 + 12×2 <= 136 3×1 + 5×2 <= 36 x1, x2 >= 0 and integer
   Find the optimal solution.
   Put your answer in the form of a solution for Z=
2. A solution that satisfies all the constraints of a linear programming problem except the nonnegativity constraints is called:

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A optimal
B. feasible
C. infeasible
D. semi-feasible

1. An optimal solution to a linear programming problem can be found at an extreme point of the feasible region for the problem.

? True
? False

1. Sensitivity analysis information in computer output is based on the assumption of:

A. no coefficient change
B. one coefficient change
C. two coefficient change
D. all coefficients change

1. Let M be the number of units to make and B be the number of units to buy. If it costs $2 to make a unit and $3 to buy a unit and 4000 units are needed, the objective function is

A. Max 2M + 3B
B. Min 4000 (M + B)
C, Max 8000M + 12000B
D. Min 2M + 3B

1. A transportation problem with 3 sources and 4 destinations will have 7 terms in the objective function.
   ? True
   ? False
2. If a real-world problem is correctly formulated, it is not possible to have alternative optimal solutions.
   ? True
   ? False
3. The dual price for a constraint that compares funds used with funds available is .058. This means that:

A. the cost of additional funds is 5.8%
B. if more funds can be obtained at a rate of 5.5%, some should be
C. no more funds are needed
D. the objective was to minimize

1. The assignment problem can be considered to be a transportation problem, but the opposite is not true.
   ? True
   ? False
2. The main difference between Bayesian and Shafer-Dempster systems of probability is:

A. Shafer-Dempster is simply not accepted by the mathematical community.
B. Shafer-Dempster leaves room for future information to fill in present uncertainty.
C. Bayes has been discredited since it is so old.
D. Bayes uses past and prior probabilities for updates while Shafer-Dempster uses present and future probabilities.
F. None of the above are true
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1. Max Z = 3×1 + 5×2
   Subject to: 7×1 + 12×2 <= 136 3×1 + 5×2 <= 36 x1, x2 >= 0 and integer
   Find the optimal solution.
   Put your answer in the form of a solution for Z=

Answer: x1=5 , x2= 4 , z= 35
(Calculated using EXCEL solver)

1. A solution that satisfies all the constraints of a linear programming problem except the non negativity constraints is called:

A optimal
B. feasible
C. infeasible
D. semi-feasible

Answer: C. infeasible

1. An optimal solution to a linear programming problem can be found at an extreme point of the feasible region for the problem.

? True
? False

Answer: True

1. Sensitivity analysis information in computer output is based on the assumption of:

A. no coefficient change
B. one coefficient change
C. two coefficient change
D. all coefficients change

Answer: B. one coefficient change
For …