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Please choose the correct answer from the multiple choices: 6 - Which of the following is not a step in setting up a linear programming

Please choose the correct answer from the multiple choices:
6
-
Which of the following is not a step in setting up a linear programming problem in Excel?
Identifying decision variables
Specifying the constraints
Formulating the objective function
Assigning values to decision variables
7
-
What is the difference between a maximization and a minimization problem in linear programming?
In a maximization problem, the objective is to maximize the objective function, and vice versa.
In a maximization problem, the objective is to minimize the objective function.
In a minimization problem, the objective is to maximize the objective function.
There is no difference; maximization and minimization problems are the same.
8
-
Which of the following is an assumption of linear programming?
The relationship between decision variables is linear.
The decision variables are discrete.
The objective function is nonlinear.
The constraints are nonlinear.
9
-
What is the optimal solution in linear programming?
The solution that maximizes the objective function
The solution that minimizes the objective function
The solution that violates some of the constraints
The solution that satisfies all the constraints and optimizes the objective function
1
0
-
How can you interpret the shadow price
(
dual value
)
in linear programming?
It represents the change in the objective function value per unit change in the constraint.
It indicates the sensitivity of the optimal solution to changes in the constraints.
It indicates the sensitivity of the optimal solution to changes in the objective function.
It represents the change in the constraint value per unit change in the objective function.

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