Construct the dual of this LP and solve it using the Simplex method. 60x1 2x1 3x1 5x1 + 20x2 + 10x3 + X2 + X3 + X2 + X3 + X2 X1, X2, X3 ≥ 0 values in the final, optimal tableau for the dual, answer the questions, which all relate to the original, primal problem (above). D: ≥ 15 > 22 ≥ 30 IV
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- Suppose Box I contains five red balls and two white ones while Box II contains one red and four white ones. A box is chosen at random by selecting a random number from 0 through 9. If a 1 or 2 is selected, Box I is chosen; otherwise Box II is chosen. If I took Box 1 and chose 2 balls without replacement, what is the proabability that exactly one would be red?Determine the pivot element in the simplex tableau. (If there is more than one correct pivot element, choose the element with the smaller row number.) X1 X2 X3 S1 S2 3 4 2 1 15 1 20 -8 -3 10 1 row column N O OA survey was conducted to 12 first time voters on their preferred candidate. The results are: BBM, BBM, LR, IM, PL, PL, IM, IM, BBM, BBM, LR, LR. Which statement is true? The Borda score of PL is two points. BBM wins by plurality method. The Condorcet winner is IM. The modes are LR and IM Which of the following is a property of all linear programming problems? alternate courses of action to choose from minimization of some objectives a computer program usage of graphs in the solution
- Suppose that Pizza King and Noble Greek stopadvertising but must determine the price they will chargefor each pizza sold. Pizza King believes that Noble Greek’sprice is a random variable D having the following massfunction: P(D $6) .25, P(D $8) .50, P(D $10) .25. If Pizza King charges a price p1 and NobleGreek charges a price p2, Pizza King will sell 10025( p2 p1) pizzas. It costs Pizza King $4 to make a pizza.Pizza King is considering charging $5, $6, $7, $8, or $9 fora pizza. Use each decision criterion of this section todetermine the price that Pizza King should charge.STAR Co. provides paper to smaller companies whose volumes are not large enough to warran paper rolls from the mill and cuts the rolls into smaller rolls of widths 12, 15, and 30 feet. The cutting patterns have been established: 1 2 Pattern 12ft. 15ft. 30ft. Trim Loss 0 4 1 10 ft. 3 0 7 ft. 8 0 0 4 ft. 2 1 2 1 ft. 5 2 3 1 1 ft. Trim loss is the leftover paper from a pattern (e.g., for pattern 4, 2(12)+1(15) + 2(30) = 99 hand for the coming week are 5,670 12-foot rolls, 1,680 15-foot rolls, and 3,350 30-foot rolls. hand will be sold on the open market at the selling price. No inventory is held. Number of: 3Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client's needs. For a new client, Innis has been authorized to invest up to $1.2 million in two investment funds: a stock fund and a money market fund. Each unit of the stock fund costs $50 and provides an annual rate of return of 10%; each unit of the money market fund costs $100 and provides an annual rate of return of 4%. The client wants to minimize risk subject to the requirement that the annual income from the investment be at least $60,000. According to Innis' risk measurement system, each unit invested in the stock fund has a risk index of 8, and each unit invested in the money market fund has a risk index of 3. The higher risk index associated with the stock fund simply indicates that it is the riskier investment. Innis's client also specified that at least $300,000 be invested in the money market fund. Refer to the computer solution shown below. Optimal…
- Indicate which of the following is an all-integer linear program and which is a mixed-integer linear program. Write the LP Relaxation for the problem but do not attempt to solve. (a) 70x1 + 65x2 (b) Is this linear program an all-integer linear program or a mixed-integer linear program? This is an all-integer linear program. This is a mixed-integer linear program. Max Write the LP Relaxation for the problem. s.t. (1) (2) (3) Max s.t. ---Select--- (1) 9x₁ + 4.5x₂ ≤ 400 (2) 4.5X₁ + 2x₂ ≤250 (3) x₁ + x₂ ≤ 150 X₁, X₂20 and X₂ integer Min s.t. (1) Is this linear program an all-integer linear program or a mixed-integer linear program? This is an all-integer linear program. This is a mixed-integer linear program. (2) Min s.t. Write the LP Relaxation for the problem. 7x1 + 8x2 (1) 6X₁ + 8X₂ ≥ 8 (2) 6X₁ + 10x₂ ≥ 12 X₁, X₂20 and integer ---Select---Q1. Build a linear programming model to develop an investment portfolio that minimizes total risk under the above constraints. a) Define the decision making variables. b) Show the objective function. c) Show the constraints. Q2. What is the optimal solution and what is the value of the objective function? Show the relevant portion of the Solver’s output. Fully interpret the results. Q3. What are the objective coefficient ranges for the four stocks? Show the relevant portion of the Solver’s output. Fully interpret these ranges. Q4. Suppose the investor decides that the annual rate of return no longer has to be at least 9% and agrees to at minimum level of 8%. What does the shadow price associated with this constraint indicate about a possible change in total risk that could occur from this lower rate of return? Show the relevant portion of the Solver’s output. Fully interpret the results.Which of the following is true? a)The maximin criterion is an approach in Optimization under uncertainty which finds a solution that has the best possible payoff. b)The maximin criterion is an approach in Optimization under uncertainty which finds a solution with the best worst possible payoff. c)A risk profile represents the probability distribution of uncertain inputs. d)Decision tree is a method to solve any optimization problem when the outcomes are subject to uncertainty.
- Minimization Case. Min C = X1 + X2 + X3Subject toX1 – 3X2 + 4X3 = 5X1 – 2X2 <= 32X2 + X3 >=0And X1, X2, X3 >= 03. (Note: This is a variation of problem 6 of chapter 16 in your textbook.) Kenya and Dionne live on adjacent plots of land. Each has two potential uses for their land, the present values of each of which depend on the use adopted by the other, as summarized in the table. All the values in the table are known to both parties. Dionne Rental housing Bee keeping Kenya Apple growing A: $200 B: $700 A: $400 B: $650 Pig farming A: $450 B: $400 A: $450 B: $500 a. What is the efficient outcome? b. If there are negotiation costs of $150, what activities will the two pursue on their land? c. If there are no negotiation costs and the two negotiate, what activities will the two pursue on their land? How might a benevolent planner help reduce the costs of negotiating to encourage the optimal combination of land uses?The alternatives shown are to be compared on the basis of their present worth values. At an interest rate of 8% per year, the values of n that you should use in the uniform series factors to make a correct comparison by the present worth method are: Alternative(A) Alternative (B) -25,000 -10,000 10,000 First Cost M&O cost/year 3,000 Salvage value 6,000 -2,000 Life 4 O A n 4 years for A and n =4 years for B OB. None of the above O C. n = 4 years for A and n =3 years for B O D. n = 12 years for A and n = 12 years for B