Which famous economist once suggested that, "The production problem has been solved."?
a) John Nash
b) Irving Fisher
c) John Kenneth Galbraith
d) Adam Smith
e) John Maynard Keynes
Answer: c
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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?