What is the task of optimization?

• Finding multiple solutions

• Finding the average value of a quantity

• Finding the maximum or minimum value of a quantity

• Finding one solution

What does Linear Programming (LP) deal with?

• Modeling a decision problem and solving it using random selection

• Modeling a decision problem and solving it using trial and error

• Modeling a decision problem and solving it using guesswork

• Modeling a decision problem and solving it mathematically

What does the term 'formulation' refer to in the context of decision-making?

• Converting verbal descriptions into numerical data

• Converting verbal description and numerical data into mathematical expressions

• Converting mathematical expressions into verbal descriptions

• Converting numerical data into verbal descriptions

What is the criterion of optimality in Linear Programming?

• Performance

• Return on investment

• All of the above

• Profit

What does the word 'programming' refer to in Linear Programming?

• Modeling and solving a problem mathematically

• Allocating resources manually

• Using guesswork to make decisions

• Writing computer code

What are the assumptions necessary for all linear programming models?

What is the objective function in a linear programming problem?

• D. A function that represents the resources used

• A. A function that represents the constraints

• C. A function that represents the measure-of-performance variable

• B. A function that represents the decision variables

What is the main advantage of using linear programming technique?

• A. It considers multiple conflicting objectives

• B. It highlights bottlenecks in production processes

• C. It deals with uncertain parameters

• D. It involves non-linear relationships

What type of optimization problem involves discrete (integer) decision variables?

• D. Stochastic programming

• C. Optimal control

• B. Integer programming

• A. Nonlinear programming

What is the key decision to be made in the table problem example provided?

• D. Defining the objective function

• A. Determining the number of tables to be produced

• B. Calculating the profit per table

• C. Identifying the constraints on resources