11 May QuestionQuestion 1 of 166.25 Points
Question
Define the term management science. |
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What are the steps in the problem solving process? |
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Define independent and dependent variable. |
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How would you define the words description, prediction, and prescription? |
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To determine the feasible region associated with “less than or equal to” constraints or “greater than or equal to” constraints, we graph these constraints as if they were “equal to” constraints. Why is this possible? |
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An LP model can have more than one optimal solution. |
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Are the following objective functions for an LP model equivalent? That is, if they are both used, one at a time, to solve a problem with exactly the same constraints, will the optimal values of X1 and X2 be the same in both cases? Why or why not? MAX: 2X1 + 3X2 MIN: -2X1 – 3X2 |
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What are the four steps that must be done to implement any LP problem in a spreadsheet? |
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What are the four goals that should be considered when trying to design an effective spreadsheet model? |
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