True/False. (2 points each. Best 10 will count). a True. b -False 1. Qualitative

Question

True/False. (2 points each. Best 10 will count). a True. b -False 1. Qualitative analysis relies on judgment, experience, and advanced computer models. 2. Quantitative analysis is performed when problems are repetitive and simple. 3. Models are used because they reduce risk and are less expensive. 4, A feasible solution is an alternative that satisfies 95% of the constraints. 5. Problem formulation is the process of translating a verbal statement of a problem into a mathematical statement 6. The first step in the formulation process is to define the constraints. 7. The RHS represents what is being consumed or used. 8. The extreme points are sometimes outside the feasible region. 9. A slack/surplus variable above 0 indicates the constraint is non-binding. 10. Decision variables are always integer numbers. 11. In production problems the decision variables always relate to the number of units to make of a product. 12. The professor recommends using the GLR Nonlinear engine in Solver as it is the most precise option.

Explanation / Answer

1. b= False.

Qualitative analysis relies on judgement and experience, but not on advanced computer models.

2 b= False.

Quantitative analysis may be performed even when problems are not repetitive or when they are complex, provided we have sufficient data about the problems.

3 a=True

Models are used as they facilitate mathematical analysis of the problem and predict future behaviour. If we are able to get a reasonably good model of the problem, it is certainly less risky and less costly compared to not using a model and relying only on observations and analysis without a model.

4. b=False

A feasible solution is an alternative that satisfies all (100 %) of the constraints and not just 95%.

5 a=True

6 b= False.

The first step in the formulation process is to define the decision variables. Defining the constraints comes later.

7. b=False

The RHS (Right Hand Side) of a Constraint represents the upper or lower Limit on a Resource being consumed or used.

8. b=False

The extreme points are always part of the feasible region, at the corners of the region, and hence also called corner points.

9 b=False

A slack/surplus variable is just a new variable introduced to convert a constraint in the form of an inequality to an equation for mathematical convenience. It does not in any way make the constraint non-binding.

10. b=False

The Decision variables can very well be fractional, such as the quantity of raw materials in Kg to be used in a blending problem.

11. b=False

In production problems, the decision variable may relate to the quantity of input materials.

12 b=False

The Professor must have recommended GLR Nonlinear Engine in Solver for getting a "Good Feasible" in a reasonable amount of time which is not necessarily the most precise or the best solution.

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