AGEC 3413 Exam 3 Questions and Answers 2024

AGEC 3413 Exam 3 Questions and Answers 1. The three types of integer programming models are total, 0- 1, and mixed.: - True 2. In a total integer model, all decision variables have integer solution values.- : True 3. In a 0-1 integer model, the solution values of the decision variables are 0 or 1.: True 4. In a mixed integer model, some solution values for decision variables are integer and others can be non-integer.: True 5. The college dean is deciding among three equally qualified (in their eyes, at least) candidates for his associate dean position. If this situation could be modeled as an integer program, the decision variables would be cast as 0-1 integer variables.: True 6. The management scientist's fiance informed him that if they were to be married, he would also have to welcome her mother into their home.The management scientist should model this decision as a contingency con- straint.: False 7. In the classic game show Password, the suave, silverhaired host informed the contestants, "you can choose to pass or to play." This expression sug- gests a mixed integer model is most appropriate.: False 8. The production planner for Airbus showed his boss the latest product mix suggestion from their slick new linear programming model: 12.5 model 320s and 17.4 model 340s. The boss looked over his glasses at the production planner and reminded him that they had several half airplanes from last year's production rusting in the parking lot. No one, it seems, is interested in half of an airplane.The production planner whipped out his red pen and crossed out the .5 and .4, turning the new plan into 12 model 320s and 17 model 340s.This production plan is definitely feasible.: True 9. In a mixed integer model, all decision variables have integer solution val- ues.: False 10. In a mixed integer model, the solution values of the decision variables are 0 or 1.: False 11. The branch and bound solution method cannot be applied to 0-1 integer programming problems.: False 12. In a problem involving capital budgeting applications, the 0-1 variables designate the acceptance or rejection of the different projects.: True