Which basic EOQ assumption does the EPQ model relax?
a) Lead time is known and constant.
b) Demand is known and constant.
c) Quantity discounts are not considered.
d) Orders arrive at once.
e) Back orders are not allowed
Answer: D
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- The Answer Report Target Cell, Adjustable Cell, and Constraint sections all include:
- The ____________ for a constraint is the amount the optimal objective value will change if the right-hand-side of the constraint is increased by one unit.
- One use of the Answer report is:
- What do you need to do before using Solver?
- Constraints that are not at their limits at the optimal solution of a Linear Program, that is, with the left-hand-side value not equal to the right-hand-side value, are called _________.
- To retain model flexibility while using Solver you must:
- At the optimal solution of a Linear Program, the difference between the right-hand-side value and the left-hand-side value of a constraint is the ________________.
- Three reports are available when Solver has successfully found an optimal solution. These are _______.
- In the "Solver Options" box of Excel Solver, what should be checked to ensure that all decision variables are ≥ 0?
- In the "Solver Options" box of Excel Solver, what should be checked to ensure that the Simplex Method is used to solve the model?
- In the "Solver Parameters" box of Excel Solver, what is clicked to actually solve the problem?
- Constraints at their limits at the optimal solution of a Linear Program, that is, with the left-hand-side value equal to the right-hand-side value, are called _________________________.
- In the Excel Solver "Add Constraint" box, what two additional choices are available under the relationship operator list besides ≤, ≥, and =?
- A constraint in Excel Solver consists of what three pieces of information?
- What in Excel Solver corresponds to the decision variables in the algebraic model?
- What in Excel Solver corresponds to the objective function in the algebraic model?
- Which Excel tool provides solutions to Linear Programs?
- The two primary Excel tools for diagnosing problems in models are ___________________.
- When was the Simplex Method developed?
- George Dantzig developed the ___________________ in 1947 to solve Linear Programs.
- If the solution to an optimization problem violates two constraints but satisfies three, it is a(an) ________.
- For an optimization problem a(an) __________________ violates at least one of the constraints.
- If constraints (3) and (4) are binding, what is the optimal solution (X, Y)?
- Which of the following is true regarding the linearity of the functions?
- Which of the following statements is correct?