Answer each question by providing the correct corresponding letter a,b,c or d.
1. At breakeven, the break-even point (BEP) is typically
a. greater than zero
b. less than zero
c. equal to zero
d. none of the above
2. In a breakeven problem, which of the following is not required to make it deterministic
a. selling price per unit
b. fixed cost
c. variable cost per unit
d. number of units
3. If the profit is greater than breakeven, which of the following is not true:
a. profit is greater than zero
b. total revenue is greater than total cost
c. BEP$ is greater than total revenue
d. number of units sold is greater than BEP
4. One possible problem in decision modeling is
a. conflicting viewpoints.
b. understanding the model.
c. hard-to-understand mathematics.
d. all of the above
5. In a product mix problem, a decision maker has limited availability of weekly labor hours. Labor hours would most likely constitute a
a. resource constraint
b. decision variable constraint
c. objective function constraint
d. all of the above
6. The transportation problem involves determining the
a. amount of goods to be transported from a number of origins to a number of destination
b. amount of goods to be transported from a number of origins to a number of destination
c. amount of goods to be transported from a number of destinations to a number of destinations.
d. amount of goods to be transported from a number of origins to a number of mid-point destinations to a number of final destinations destinations.
7. In an unbalanced transportation problem where total supply exceeds total demand, the supply constraints will typically have
a. "≥" inequalities.
b. "≤" inequalities.
c. "<" inequalities.
d. "=" equalities.
8. The minimax regret criterion is
a. a weighted averaging approach to decision making.
b. an opportunity loss approach to decision making.
c. a pessimistic approach to decision making
d. an optimistic approach
9. The objective function coefficient for a given variable increases within beyond the allowable increase value, the current optimal solution
a. is still valid.
b. remains the same.
c. can be determined by re-running solver with the change in variable value
d. none of the above
10. An assignment model has three jobs and four machines. The supply and demand relationship is
a. the supply less than the demand.
b. the supply is equal to the demand.
c. the supply is greater than the demand.
d. the supply and demand is not used in the assignment model.
11. An unbalanced transportation network flow problem will occur if
a. supply equal demand
b. supply is less than demand
c. supply is greater than demand
d. both b and c