It is vital to understand the assumptions underlying the use

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1. It is important to understand the assumptions underlying the use of any quantitative analysis model. What are the assumptions and requirements for an LP model to be formulated and used?

2. It has been said that each LP problem that has a feasible region has an infinite number of solutions Explain.

3. You have just formulated a maximization LP problem and are preparing to solve it graphically. What criteria should you consider in deciding whether it would be easier to solve the problem by the corner point method or the isoprofit line approach?

4. The production manager of a large Cincinnati manufacturing firm once made the statement, "I would like to use LP, but it's a technique that operates under conditions of certainty. My plant doesn't have that certainty; it's a world of uncertainty. So LP can't be used here." Do you think this statement has any merit? Explain why the manager may have said it.

5. The mathematical relationships that follow were formulated by an operations research analyst at the Smith-Lawton Chemical Company. Which ones are invalid for use in an LP problem, and why?

6. A linear program has the objective of maximizing Profit = 12X+8Y. The maximum profit is $8,000. Using a computer we find the upper bound for profit on X is 20 and the lower bound is 9. Discuss the changes to the optimal solution (the values of the variables and the profit) that would occur if the profit on X were increased to $15. How would the optimal solution change if the profit on X were increased to $25?

Reference no: EM1350591

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