POM 1-4

1) An objective function: A) describes something to be maximized. B) can represent costs or profits. C) shows where the break-even point is. D) describes how much of a resource can be used. 2) Lame Furniture Company makes two products for its adoring public: chairs (C) and tables (T). Each chair requires 5 hours of labor (L) and 12 linear feet of rich mahogany (M), and each table requires 9 hours of labor and 24 linear feet of rich mahogany. The company has 300 labor hours available this week, and the warehouse has 800 linear feet of rich mahogany available. Profit for each chair is $900 and for each table is $1300. In order to maximize profit, how many tables and how many chairs should be produced? (Use excel) A) T=0,C=60B ) T=0,C=48 C) T=35,C=0D)T=12,C=22.8 3) A portion of the variable cells section of the sensitivity report in Excel appears in the table below. How many potential customers will be reached by the optimal advertising camnaign? A) 140 B) 420,000 C) 42,080 D) 35,000 4) Which of the following is not a typical characteristic of a linear programming problem? A) The problem can be solved graphically. B) The problem has an objective. C) Restrictions exist. D) A choice among alternatives is required