LESSON 2: INTRODUCTION TO OPTIMIZATION AND LINEAR PROGRAMMING

Question 1

In a supply chain optimization problem, what is the primary objective?

A. Minimize customer satisfaction
B. Maximize transportation costs
C. Maximize profit
D. Minimize production efficiency

Answer 1

Maximize profit

Question 2

A manufacturing company wants to maximize its profit while producing two products, Product A and Product B. Which of the following represents a linear objective function for this problem?

A. Maximize 2 * Product A + 3 * Product B
B. Minimize Product A * Product B
C. Maximize Product A + Product B
D. Maximize 2 * Product A - 3 * Product B

Answer 2

Maximize 2 * Product A + 3 * Product B

Question 3

In linear programming, constraints are typically represented as which among the following?

A. Linear equations
B. Non-linear equations
C. Inequalities
D. Exponential equations

Answer 3

Linear equations

Question 4

A company can produce a maximum of 1,000 units of a product. Which type of constraint does this represent in linear programming?

A. Equality constraint
B. Resource constraint
C. Surplus constraint
D. Objective constraint

Answer 4

Resource constraint

Question 5

Which method is used to find the optimal solution in linear programming when dealing with multiple objective functions?

A. Simplex method
B. Dual simplex method
C. Goal programming
D. Branch and bound method

Answer 5

Goal programming

Question 6

A diet optimization problem aims to minimize costs while meeting daily nutritional requirements. Which type of constraint is this?

A. Equality constraint
B. Resource constraint
C. Surplus constraint
D. Objective constraint

Answer 6

Resource constraint

Question 7

In a transportation optimization problem, what does the objective function typically seek to optimize?

A. Delivery time
B. Distance traveled
C. Transportation cost
D. Fuel consumption

Answer 7

Transportation cost

Question 8

A production manager wants to minimize the total production time for a set of products. Which type of linear programming problem is this?

A. Maximization problem
B. Minimization problem
C. Feasibility problem
D. Unbounded problem

Answer 8

Minimization problem

Question 9

In integer linear programming, when decision variables must take on integer values, it is typically used for what type of problems?

A. Fractional problems
B. Continuous problems
C. Mixed-integer problems
D. Linear problems

Answer 9

Mixed-integer problems

Question 10

Which type of linear programming problem has an unbounded feasible region?

A. Feasibility problem
B. Maximization problem
C. Minimization problem
D. Infeasibility problem

Answer 10

Minimization problem

Question 11

When performing sensitivity analysis in linear programming, what does the shadow price represent?

A. The price of shadows
B. The opportunity cost of relaxing a constraint
C. The cost of increasing a variable’s value
D. The cost of changing the objective function

Answer 11

The opportunity cost of relaxing a constraint

Question 12

Which linear programming method is particularly useful for solving large-scale linear programming problems?

A. Graphical method
B. Simplex method
C. Goal programming
D. Feasibility method

Answer 12

Simplex method

Question 12

An online retailer wants to maximize its profits from online advertising while adhering to a budget constraint. Which type of linear programming problem is this?

A. Maximization problem
B. Minimization problem
C. Feasibility problem
D. Infeasibility problem

Answer 12

Maximization problem

Question 13

A farmer wants to maximize the yield of two crops, wheat and corn, with limited resources. What type of linear programming problem is this?

A. Maximization problem
B. Minimization problem
C. Feasibility problem
D. Infeasibility problem

Answer 13

Maximization problem

Question 14

In a network optimization problem, what are nodes and arcs typically used to represent?

A. Employees and managers
B. Warehouse locations and transportation routes
C. Financial assets and liabilities
D. Sales and marketing strategies

Answer 14

Warehouse locations and transportation routes

Question 15

In a linear programming problem, what does the objective function represent?

A. The constraints that must be satisfied.
B. The decision variables.
C. The optimal solution.
D. The goal to be maximized or minimized.

Answer 15

The goal to be maximized or minimized.

Question 16

A manufacturing company wants to minimize its production costs while satisfying a set of constraints such as material availability and production capacity. Which of the following terms best describes this type of problem?

A. Descriptive Analysis
B. Predictive Analysis
C. Optimization Problem
D. Diagnostic Analysis

Answer 16

Optimization Problem

Question 17

Which of the following is NOT a common application of linear programming in business?

A. Supply chain optimization
B. Portfolio optimization
C. Customer segmentation
D. Production planning

Answer 17

Customer segmentation

Question 18

A retail store wants to determine how much shelf space to allocate to different product categories while maximizing overall sales. What type of linear programming problem is this?

A. Maximize the number of products sold.
B. Minimize the number of product categories.
C. Maximize overall sales subject to shelf space constraints.
D. Minimize the number of shelves available.

Answer 18

Maximize overall sales subject to shelf space constraints.