- Which of the following approaches to decision making requires knowledge of the probabilities of the states of nature?
- Which of the methods for decision making best protects the decision maker from undesirable results?
- The LP Relaxation contains the objective function and constraints of the IP problem, but drops all integer restrictions.
- The EVPI provides an upper bound on the expected value of any sample or survey information.
- The EVPI can be negative sometimes.
- For a maximization problem (such as profit, return or sales revenue), the conservative approach is often referred to as the
- Let x1 , x2 , and x3 be 0-1 variables whose values indicate whether the projects are not done or are done. Which answer below indicates that at least two of the projects must be done?
- Let x1 and x2 be 0-1 variables whose values indicate whether the projects 1 and 2 are not done or are done. Which answer below indicates that project 2 cannot be done unless project 1 is done?
- If Project 5 must be completed before Project 6, the constraint would be
- If the acceptance of project A is conditional on the acceptance of project B, and vice versa, the appropriate constraint to use is a
- Assuming W1, W2 and W3 are 0 -1 integer variables, the constraint W1 + W3 <= 1 is often called a
- Binary variables can be used to model multiple-choice and mutually exclusive constraints.
- Generally, the optimal solution to an integer linear program is more sensitive to the constraint coefficients than is a linear prgram.
- To perform sensitivity analysis involving an integer linear program, it is recommended to
- Let A, B, and C be the amounts invested in companies A, B, and C. If not more than 40% of the total investment can be in company B, then
- In the basic general linear programming model of the assignment problem,
- Which of the following is NOT true regarding an LP model of the typical assignment problem?
- Portfolio selection problems should acknowledge both risk and return.
- In LP transportation models, decision variables represent shipping cost.
- For a typical make-or-buy question with four components, there are _______ regular constraints beside the non-negativity constraints.