ABM A - Unit 8 - Motivational Banker

1. What does Linear Programming aim to achieve?

Random allocation of resources

Optimal allocation of limited resources among competing demands

Solving nonlinear equations

Maximizing financial profits

Question 1 of 45

2. How should problems be structured in Linear Programming to obtain an optimal solution?

In a random format

In a specific linear format

In a nonlinear format

In an abstract format

Question 2 of 45

3. What applications does Linear Programming have in financial decisions?

Limited applications

No applications

Many useful applications

Only applicable to linear equations

Question 3 of 45

4. In Linear Programming, what is assumed to be known for each product?

Economic constraints

Selling prices, production, and marketing costs

Physical constraints

Random factors

Question 4 of 45

5. What are the constraints a firm operates under in a Linear Programming scenario?

Random factors

Economic constraints

Physical, economic, and financial constraints

Nonlinear constraints

Question 5 of 45

6. What does a Linear Programming Problem seek to do in terms of a function?

Randomize it

Minimize it

Maximize or minimize it with respect to certain conditions

Ignore it

Question 6 of 45

7. What is the function that needs to be maximized or minimized in Linear Programming called?

Constraints

Decision variables

Objective function

Financial factors

Question 7 of 45

8. What are the conditions in a Linear Programming problem referred to as?

Objective function

Constraints

Decision variables

Economic factors

Question 8 of 45

9. What are the variables whose values need to be determined in Linear Programming called?

Constraints

Economic factors

Decision variables

Physical constraints

Question 9 of 45

10. What is the ultimate goal of a Linear Programming Problem?

Random allocation of resources

Minimize constraints

Optimize (maximize or minimize) the objective function under given conditions

Ignore decision variables

Question 10 of 45

11. What is the Simplex Method in Linear Programming?

A random approach

A standard technique for solving optimization problems

A nonlinear method

A method only suitable for small equations

Question 11 of 45

12. In Linear Programming, what kind of problems is the Simplex Method designed to solve?

Nonlinear problems

Random problems

Optimization problems with an objective function and constraints

Simple problems with only one variable

Question 12 of 45

13. How is the objective of an optimization problem typically expressed in Linear Programming?

As a random value

As a linear equation

As a nonlinear equation

As an objective function

Question 13 of 45

14. What does the Simplex Method aim to do in a Linear Programming context?

Simplify equations

Maximize or minimize the objective function

Introduce randomness

Solve nonlinear equations

Question 14 of 45

15. How are constraints expressed in a Linear Programming problem?

As linear equations only

As nonlinear equations only

As objective functions

As inequalities

Question 15 of 45

16. With the help of what tools is it possible to effectively use the Simplex Method in solving Linear Programming problems?

Pencil and paper

Spread sheets and computer programs

Only with theoretical equations

Nonlinear equations only

Question 16 of 45

17. How many variables can the Simplex Method handle effectively, especially with computer programs and spreadsheets?

Up to 5 variables

Up to 8 variables

Up to 10-12 variables

Unlimited variables

Question 17 of 45

18. Which term is associated with Linear Programming problems that involve maximizing or minimizing a certain quantity?

Objective function

Constraint

Variable

Inequality

Question 18 of 45

19. What makes the Simplex Method a powerful tool in solving Linear Programming problems?

Its simplicity

Its ability to handle nonlinear equations

Its effectiveness in small equations only

Its suitability for random problems

Question 19 of 45

20. What is a key advantage of using computer programs and spreadsheets with the Simplex Method in Linear Programming?

They introduce randomness

They simplify equations

They allow effective handling of equations with multiple variables

They are limited to theoretical equations

Question 20 of 45

21. What is the first step in the Simplex Method?

Set up the initial tableau

Determine the optimum solution

Formulate the problem in terms of an objective function and constraints

Identify the pivot row

Question 21 of 45

22. What is the second step in the Simplex Method?

Set up the initial tableau

Determine the optimum solution

Write it in the standard LP format

Identify the pivot row

Question 22 of 45

23. Which step involves setting up the initial tableau in the Simplex Method?

Step 1

Step 3

Step 6

Step 8

Question 23 of 45

24. How is the variable to bring into the solution determined in the Simplex Method?

By dividing the identified row by the pivot entry

By updating remaining row values

By choosing the variable with the largest negative number in the Z-row

By determining the optimum solution

Question 24 of 45

25. In the Simplex Method, how is the variable to replace determined?

By dividing the identified row by the pivot entry

By updating remaining row values

By choosing the variable with the smallest ratio of solution column to its comparable value in the optimum column

By determining the optimum solution

Question 25 of 45

26. What is done in the Simplex Method after identifying the variable to replace?

Set up the initial tableau

Divide the identified row by the pivot entry

Determine the optimum solution

Update remaining row values

Question 26 of 45

27. Which step involves updating the remaining row values in the Simplex Method?

Step 4

Step 6

Step 7

Step 2

Question 27 of 45

28. When does the Simplex Method reach the optimum solution?

After setting up the initial tableau

When there is no negative number in the Z-row

After determining the optimum solution

After updating remaining row values

Question 28 of 45

29. What is the condition to proceed to the next iteration in the Simplex Method?

When the Z-row has a positive number

When there is no negative number in the Z-row

When there is a negative number in the Z-row

When the optimal solution is determined

Question 29 of 45

30. What is the final step in the Simplex Method if there is a negative number in the Z-row?

Formulate the problem

Update remaining row values

Identify the pivot row

Repeat steps 4 to 7

Question 30 of 45

31. How are constraints converted into equations in the standard LP format?

By introducing slack variables

By eliminating variables

By keeping the constraints as they are

By using negative right-hand side values

Question 31 of 45

32. What is the purpose of introducing slack variables in the standard LP format?

To complicate the equations

To simplify the equations

To make the equations nonlinear

To introduce negative values

Question 32 of 45

33. In the standard LP format, what must be ensured about the right-hand side of equations?

It must be negative

It must be zero

It must be positive

It must be non-negative

Question 33 of 45

34. How is the constraint "4B + 6C ? 120" changed in the standard LP format?

4B + 6C = 120

4B + 6C + m = 120

4B + 6C - m = 120

4B + 6C + m = -120

Question 34 of 45

35. What is the term used for variables that take non-negative values in the standard LP format?

Random variables

Slack variables

Negative variables

Positive variables

Question 35 of 45

36. In the standard LP format, what is the objective function to be maximized?

Z = 2B + 4C + 0m + 0n + 0p

Z = B + 3C - m + n - p

Z = 0B - 2C + m - n - p

Z = -2B - 4C - 0m - 0n - 0p

Question 36 of 45

37. How is the Z equation written in the standard LP format?

Z = 2B + 4C + 0m + 0n + 0p

Z = B + 3C - m + n - p

Z = 0B - 2C + m - n - p

Z = -2B - 4C - 0m - 0n - 0p

Question 37 of 45

38. How is the Z equation also expressed in the standard LP format?

Z + 2B + 4C + 0m + 0n + 0p = 0

Z - 2B - 4C - 0m - 0n - 0p = 0

Z = 2B + 4C

Z - 2B - 4C = 0

Question 38 of 45

39. What does the tableau represent in the context of Linear Programming?

A random set of numbers

Coefficients of variables in the standard LP format equations

Solutions to equations

Slack variables

Question 39 of 45

40. What information does the tableau provide?

Only variables in the solution

Profit associated with the solution

The entering variable

All of the above

Question 40 of 45

41. In the Z-row, which variable is considered the entering variable, and why?

B, because it has the most positive coefficient

C, because it has the most negative coefficient

m, because it has the most positive coefficient

n, because it has the most negative coefficient

Question 41 of 45

42. To decide which current basic variable is to be replaced by C, what do we concentrate on?

Z-column and solutions column

C-column and solutions column

B-column and solutions column

M-column and solutions column

Question 42 of 45

43. In the C-column and solutions column, what do we take the ratio of to decide which current basic variable is to be replaced by C?

Coefficients of the entering variable

Coefficients of the basic variables

Coefficients of the non-basic variables

The corresponding entries in these columns

Question 43 of 45

44. Which variable is considered for replacement in the tableau based on the ratio criterion?

Question 44 of 45

45. What is the next step after determining the entering variable and the variable to be replaced in the tableau?

Rewrite the Z-equation

Update remaining row values

Determine the optimum solution

Repeat the steps 4 to 7

Question 45 of 45

ABM A – Unit 8

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