14. (2 bonus pts) Suppose you are an inventory manager. If unit inventory holding cost is...

 

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14. (2 bonus pts) Suppose you are an inventory manager. If unit inventory holding cost is becoming higher, then, to make the total cost (including ordering cost and holding cost) lower, you would a. order more often with fewer units in an order. b. order less often with more units in an order. 15. A solution for a linear program is feasible if it satisfies a. the objective function b. all constraints c. at least one constraint 16. Formulating a linear program for a decision-making problem is essentially a. computing the optimal solution for the linear program b. solving the linear program by using the simplex method c. solving the linear program by using the trial-and-error method d. re-describing the problem with a linear program 17. Suppose a linear program is feasible. If a constraint is added, then the new linear program will still be feasible. a True b. False 7. (40 points) Consider the following linear programming problem: Minimize subject to C=4x-5x2 1+10 #1 #2 ≥1 1+224 #1, #2≥0 (a) (5 points) Introduce slack, surplus, and artificial variables to construct the modified prob- lem for this linear programming problem. (b) (5 points) What is the preliminary simplex tableau for this linear programming problem? (c) (5 points) What is the initial simplex tableau for this linear programming problem? (d) (20 points) Apply Simplex Method to the initial simplex tableau. What is the final sim- plex tableau for this linear programming problem? e) (5 points) What is the solution to the original linear programming problem? If no optimal solution exists, explain why. 14. (2 bonus pts) Suppose you are an inventory manager. If unit inventory holding cost is becoming higher, then, to make the total cost (including ordering cost and holding cost) lower, you would a. order more often with fewer units in an order. b. order less often with more units in an order. 15. A solution for a linear program is feasible if it satisfies a. the objective function b. all constraints c. at least one constraint 16. Formulating a linear program for a decision-making problem is essentially a. computing the optimal solution for the linear program b. solving the linear program by using the simplex method c. solving the linear program by using the trial-and-error method d. re-describing the problem with a linear program 17. Suppose a linear program is feasible. If a constraint is added, then the new linear program will still be feasible. a True b. False 7. (40 points) Consider the following linear programming problem: Minimize subject to C=4x-5x2 1+10 #1 #2 ≥1 1+224 #1, #2≥0 (a) (5 points) Introduce slack, surplus, and artificial variables to construct the modified prob- lem for this linear programming problem. (b) (5 points) What is the preliminary simplex tableau for this linear programming problem? (c) (5 points) What is the initial simplex tableau for this linear programming problem? (d) (20 points) Apply Simplex Method to the initial simplex tableau. What is the final sim- plex tableau for this linear programming problem? e) (5 points) What is the solution to the original linear programming problem? If no optimal solution exists, explain why.

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