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What is the essence of decision analysis in problem-solving?

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Mar 26, 2024

Unsectioned

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What is the essence of decision analysis in problem-solving?

Making informed choices in uncertain scenarios.

What is the balance-of-flow rule in a transshipment problem with Total Supply < Total Demand?

Flow balance with surplus supply.

What type of variable does the Simplex method add to convert ≤ constraints to = constraints?

Slack variables.

What characteristic do binding constraints have?

Active shadow prices of zero.

What is needed to convert problem constraints to standard form?

Convert them to equality constraints.

How does a surplus in Total Supply compared to Total Demand affect a transshipment problem?

No impact.

How does a variable with a final value equal to its bound and zero reduced cost affect the problem?

No impact on the problem.

What is the balance-of-flow rule in a transshipment problem with Total Supply < Total Demand?

Flow balance with surplus supply.

What kind of constraint in a minimization problem implies a binding greater than or equal to (≥)?

A binding constraint with a ≥ sign.

What does the equipment replacement problem exemplify in network problems?

Network optimization.

How could a network be modified if demand exceeds supply?

Modify network parameters or increase capacity.

In a transshipment problem, what does a surplus in Total Supply compared to Total Demand imply?

Surplus in supply

What network problem involves creating lube oil, gasoline, and diesel fuel at refineries?

Refinery network problem.

What does the balance of flow constraint for node 3 (Refinery 1) represent in an oil refinery problem?

Represents the flow of crude oil to Refinery 1.

What node type represents a factory in a network shipping model?

Factory node.

How does a surplus in Total Supply compared to Total Demand affect a transshipment problem?

No impact

Represents the flow of crude oil to Refinery 1.

What is the balance of flow constraint for node 3 (Refinery 1) in an oil refinery problem?

Represents the flow of crude oil to Refinery 1.

How does adding 10 units of a resource with a shadow price of 5 affect an objective function value of 150?

Increases by 50

What network problem does the equipment replacement problem exemplify?

Transportation problem.

What is the objective of creating lube oil, gasoline, and diesel fuel at refineries in a network problem?

Production optimization

How are constraints in network flow problems determined?

Number of network parameters.

What node type represents a factory in a network shipping model?

Factory node

What are the originating and terminating nodes in the shortest path problem?

Source and sink nodes.

Production optimization

Represents the flow of crude oil to Refinery 1

What is the essence of decision analysis in problem-solving?

Making informed choices in uncertain scenarios.

What variable type is added by the Simplex method to convert ≤ constraints to = constraints?

Slack variable.

What is the essence of decision analysis in problem-solving?

Making informed choices in uncertain scenarios

What type of node represents a factory shipping items through the network?

Supplier node.

What determines the number of constraints in network flow problems?

Number of network elements.

What is the balance of flow constraint for node 3 (Refinery 1) in an oil refinery problem?

Represents the flow of crude oil to Refinery 1.

What type of constraint in a minimization problem indicates a binding ≥?

Binding constraint with a ≥ sign.

What determines the number of constraints in network flow problems?

Number of network elements.

What is the balance-of-flow rule in a transshipment problem with Total Supply < Total Demand?

Flow balance with surplus supply

What determines the number of constraints in network flow problems?

Number of network elements.

What is the representation of a factory that ships items through a network?

Factory node.

What is the essence of decision analysis in problem-solving?

Making informed choices in uncertain scenarios.

Which formula calculates Net Flow values in a spreadsheet model?

Balance-of-flow formula.

How does a variable with a final value equal to its bound and zero reduced cost affect the problem?

No impact on the problem.

What does the equipment replacement problem illustrate in network problems?

Network optimization.

What changes when the right-hand side of a constraint is altered?

Feasibility or optimality.

What determines the number of constraints in network flow problems?

Number of network elements.

What is the essence of decision analysis?

Evaluating uncertain outcomes.

What does the equipment replacement problem exemplify in network problems?

Network optimization.

What type of constraint in a minimization problem indicates a binding ≥?

Binding constraint with a ≥ sign.

How does a variable with a final value equal to its bound and zero reduced cost affect the problem?

No impact on the problem.

What does the equipment replacement problem exemplify in network problems?

Network optimization.

What indicates a variable with a final value equal to its simple bound and zero reduced cost?

Non-binding variable.

What does the constraint X13 + X23 − X34 ≥ 50 indicate?

Flow from nodes 1 and 2 to node 3 is at least 50.