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##### CHAPTER 2 LINEAR PROGRAMMING: BASIC CONCEPTS

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Question;2-1 Linear;programming problems may have multiple goals or objectives specified.;2-2 Linear;programming allows a manager to find the best mix of activities to pursue and;at what levels.;2-3 Linear;programming problems always involve either maximizing or minimizing an;objective function.;2-4 All linear;programming models have an objective function and at least two constraints.;2-5 Constraints;limit the alternatives available to a decision-maker.;2-6 When;formulating a linear programming problem on a spreadsheet, the data cells will;show the optimal solution.;2-7 When;formulating a linear programming problem on a spreadsheet, objective cells will;show the levels of activities for the decisions being made.;2-8 When;formulating a linear programming problem on a spreadsheet, the Excel equation;for each output cell can typically be expressed as a SUMPRODUCT function.;2-9 One of the;great strengths of spreadsheets is their flexibility for dealing with a wide;variety of problems.;2-10 Linear;programming problems can be formulated both algebraically and on spreadsheets.;2-11 The parameters;of a model are the numbers in the data cells of a spreadsheet.;2-12 An example of;a decision variable in a linear programming problem is profit maximization.;2-13 A feasible;solution is one that satisfies all the constraints of a linear programming;problem simultaneously.;2-14 An infeasible;solution violates all of the constraints of the problem.;2-15 The best;feasible solution is called the optimal solution.;2-16 Since all;linear programming models must contain nonnegativity constraints, Solver will;automatically include them and it is not necessary to add them to a;formulation.;2-17 The line;forming the boundary of what is permitted by a constraint is referred to as a;parameter.;2-18 The origin;satisfies any constraint with a? sign and a positive right-hand side.

Paper#55041 | Written in 18-Jul-2015

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