LP is a major innovation since ‐‐‐‐‐‐‐‐‐‐‐‐ in the field of business decision – making, particularly under conditions of certainty.

Related MCQs

• Which theory concerns making sound decisions under conditions of certainity, risk and uncertainty
• Operations Research Models in which values of all variables and all possible outcomes are known with certainty are called models.
• What has always been very important in the business and industrial world, particularly with regard to problems concerning productions of commodities?
• An assumption that implies that finite numbers of choices are available to a decision – maker and the decision variables do not assume negative values is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
• An assumption that implies that finite numbers of choices are available to a decision – maker and the decision variables do not assume negative values is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
• In which phase is optimization done and how does that phase also checks for optimality conditions?
• Optimality conditions are expressed as ‐‐‐‐‐‐‐‐‐‐‐‐‐ incase all non‐basic cells?
• In which phase is optimization done and how does that phase also checks for optimality conditions?
• If there are or more decision variables in a LPP, SIMPLEX method is used.
• In simplex method, if there is tie between a decision variable and a slack (or surplus) variable, ‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐ should be selected