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• What is a valid constraint in a linear programming problem?

  Both A and C
• What does the feasible region in linear programming represent?

  It is the set of all points that satisfy
• What is the objective of linear programming?

  To find the maximum or minimum value
• Which method is commonly used to solve linear programming problems?

  Simplex Method
• What happens if a linear programming problem is infeasible?

  There are no solutions that satisfy all constraints
• What is used to convert an inequality constraint into an equality in linear programming?

  Slack variable
• What is the purpose of surplus variables in linear programming?

  To convert >= constraint into equalities
• What does it mean if a linear programming problem has a degenerate feasible region?

  The feasible region has multiple experimental solutions
• What happens when the number of basic variables equals the number of constraints?

  The solution is unique
• What is the objective of the transportation problem?

  Minimize the transportation cost
• What is a correct statement regarding the balanced transportation problem?

  The total supply is equal to the total demand
• What is the first step in solving a transportation problem using the North West Corner Method?

  Start at the top left corner of the transportation table
• What is the purpose of the stepping stone method in the transportation problem?

  Optimize the solution after the initial solution is found
• Which method guarantees an initial basic feasible solution to the transportation problem?

  North West Corner Method
• What method is used to find the optimal solution to a transportation problem after obtaining an initial feasible solution?

  Stepping stone method
• What is the main objective of project scheduling?

  Minimize project duration
• In PERT, how is the duration of each activity represented?

  By estimates and optimization
• What does slack time in project scheduling refer to?

  The amount of time an activity can be delayed
• What is the purpose of the forward pass in project scheduling?

  Determine the earliest start and finish times
• In queuing theory, what does the arrival rate (A) refer to?

  The rate at which customers arrive
• What does "K servers" refer to in queuing theory?

  The number of customers served simultaneously
• What is the defining property of a Markov process?

  The probability depends only on the current state
• In a Markov Chain, what is the sum of the probabilities in each row of the transition matrix?

  Equal to 1
• What is a transmission matrix for a Markov chain typically used for?

  To represent state transitions
• What is the breakeven point?

  The point where profit equals costs
• In break-even analysis, what is true about the break-even point (BEP)?

  At BEP, profit equals fixed costs
• What is the main goal of decision theory?

  To optimize the decision
• In decision theory, what is a decision used to do?

  Create a course of action