Which of the following statements is true with respect to the optimal solution of an LP problem?
A. Every LP problem has an optimal solution
B. Optimal solution of an LP problem always occurs at an extreme point
C. At optimal solution all resources are completely used
D. If an optimal solution exists, there will always be at least one at a corner
Answer: Option D
Solution(By Examveda Team)
If an optimal solution exists, there will always be at least one at a corner statement is true with respect to the optimal solution of an LP problem.This Question Belongs to Management >> Operations Research
A. Is possible when the variables value is known
B. Reduces the scope of judgement & intuition known with certainty in decision-making
C. Require the use of computer software
D. None of the above
A. Must be deterministic
B. Requires computer aid for its solution
C. Represents data in numerical form
D. All of the above
A physical model is example of.
A. An iconic model
B. An analogue model
C. A verbal model
D. A mathematical model
The qualitative approach to decision analysis relies on.
A. Experience
B. Judgement
C. Intuition
D. All of the above
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