Linear Optimization in Production Management
Interactive Video
•
Mathematics
•
11th - 12th Grade
•
Practice Problem
•
Hard
Thomas White
FREE Resource
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11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary goal of the linear optimization model discussed in the video?
To minimize inventory
To minimize total costs
To maximize sales
To maximize production
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the initial inventory at the beginning of quarter 1?
500 tanks
350 tanks
300 tanks
400 tanks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the holding cost per tank at the end of each quarter?
$5.20
$4.90
$4.50
$5.00
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which two categories of costs are considered in the objective function?
Labor and material costs
Production and inventory holding costs
Marketing and advertising costs
Shipping and handling costs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the demand for quarter 1?
3900 units
3200 units
4100 units
3300 units
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the constraint for quarter 2 expressed?
1i1 + 1p2 - 1i2 = 3200
1i1 + 1p2 + 1i2 = 3900
1i1 - 1p2 + 1i2 = 3900
1i1 + 1p2 - 1i2 = 3900
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What method is used in Excel to solve the linear optimization model?
Interior Point
Dual Simplex
Graphical Method
Simplex LP
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