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Questions and Answers
What decision would a pessimistic person make based on the payoff table?
What is the minimum profit for Alternative 1?
What is the maximum profit for Alternative 3?
What is the maximum profit for Alternative 2?
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What decision would be made using the criterion of realism with alpha = 0.4?
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What is the minimum profit for Alternative 3?
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What is the maximum profit for Alternative 1?
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What is the condition of a linear programming problem in which there is a redundant constraint?
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In the simplex tableau, what does the quantity column represent?
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What is the condition of a linear programming problem in which there are multiple optimal solutions?
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In the simplex tableau, what is the purpose of the pivot column?
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What is the condition when the optimal solution of a transportation problem is not unique?
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What is the condition of a linear programming problem in which there is no feasible solution?
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In the simplex tableau, what is the purpose of the pivot number?
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What is the total transportation cost using the North-West Corner Method?
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What is the improvement index for cell 1C using the North-West Corner Method as an initial solution?
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What does a Cj - Zj value of zero imply in the final optimal simplex tableau?
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What is the purpose of the Zj column in the simplex tableau?
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What is the improvement index for cell 3A using the North-West Corner Method as an initial solution?
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What is the improvement index for cell 2B after getting the first improved solution using the stepping stone method?
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What is the quantity shipped from cell 2C after getting the first improved solution using the stepping stone method?
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What is the purpose of the North-West Corner Method in a transportation problem?
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What is the use of the stepping stone method in a transportation problem?
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What is degeneracy in a transportation problem?
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What is the purpose of finding the improvement index in a transportation problem?
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Study Notes
Operations Research
Decision Making Under Uncertainty
- A pessimistic person would choose the alternative with the maximum minimum profit (maximin strategy).
- The regret criterion is used to minimize the maximum regret (opposite of profit).
- The criterion of realism is a weighted average of the pessimistic and optimistic attitudes.
Linear Programming
- A special case of a linear programming problem can have no feasible solution, redundant constraints, multiple optimal solutions, or be unsolvable graphically.
- The initial simplex tableau is used to find the optimal solution.
Transportation Problem
- The North-West Corner Method is used to find an initial solution to the transportation problem.
- The improvement index is used to improve the initial solution.
- The stepping stone method is used to improve the solution further.
- The transportation table shows the supply, demand, and transportation costs.
Key Concepts
- Payoff table: a table showing profits for various situations.
- States of nature: the possible outcomes of a decision.
- Alternatives: the different choices available.
- Criterion of realism: a weighted average of the pessimistic and optimistic attitudes.
- Linear programming: a method to optimize a linear objective function subject to linear constraints.
- Simplex method: a method to solve linear programming problems.
- Transportation problem: a problem of finding the minimum cost of transporting goods from sources to destinations.
- North-West Corner Method: a method to find an initial solution to the transportation problem.
- Improvement index: a measure used to improve the initial solution.
- Stepping stone method: a method to improve the solution further.
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Description
This quiz assesses knowledge of operations research concepts, including payoff tables and decision-making under uncertainty. It covers various alternatives and states of nature, with a focus on profit maximization.
