Business Applications of Decision Sciences

Business Applications of Decision Sciences

Questions are attached

Instructions:

1. No graphing calculator is allowed. Please DO NOT USE EXCEL OR ANY COMPUTER SOFTWARE OR WEBSITE to solve the problems or to draw graphs. If you answer any question using a graphing calculator, software or a website, you will not receive any credit for it.

2. Show all work. Just writing the final answer will not get you full credit.

3.Make sure you have answered all six questions.

4. Please submit the exam in Microsoft Word.

1. (a) What is a transportation problem? Briefly discuss the decision variables, the objective function and constraint requirements in a transportation problem. Give a real world example of the transportation problem.

(b) What is a marketing problem in applications of linear programming? Briefly discuss the decision variables, the objective function and constraint requirements in a marketing problem. Give a real world example of a marketing problem.

(c) What are the differences between QM for Windows and Excel when solving a linear programming problem? Which one you like better? Why?

(d) What are the dual prices? In what range are they valid? Why are they useful in making recommendations to the decision maker? Give a real world example.

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