STATS 139 Chapter 14 QUIZ - Optimization Modeling ;Applications MULTIPLE CHOICE( All answers correct)

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1. Which of the following does not represent a broad class of applications of linear programming models? a. Blending models b. Financial portfolio models c. Logistics models d. Set covering model... s e. Forecasting models ANS: E PTS: 1 MSC: AACSB: Analytic 2. Many organizations must determine how to schedule employees to provide adequate service. If we assume that an organization faces the same situation each week, this is referred to as a. static scheduling problem b. dynamic scheduling problem c. transportation scheduling problem d. All of these options ANS: A PTS: 1 MSC: AACSB: Analytic 3. Workforce scheduling problems are often integer programming models, which means that they have: a. an integer objective function b. integer decision variables c. integer constraints d. all of these options ANS: C PTS: 1 MSC: AACSB: Analytic 4. A common characteristic of integer programming models is that they: a. are easy to solve graphically b. produce the same answer and standard linear programming models c. often produce multiple optimal solutions d. all of these options ANS: C PTS: 1 MSC: AACSB: Analytic 5. Which of the following is true regarding multiple optimal solutions? a. All solutions have the same values for the decision variables b. All solutions have the same value for the objective function c. All solutions have the same shadow prices d. All of these options ANS: B PTS: [Show More]

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