Select all of the true statements:When we successfully find a solution to a linear programming problem (using the Simplex LP method) with Solver, we cannot guarantee that the solution obtained is an optimal solution.If all the supplies and demands for a transportation model are integers, then the optimal Solver solution may or may not have integer-valued shipments.In transportation problem, shipping costs are often nonlinear due to quantity discounts.RISKSIMTABLE is a function in @RISK for running several simulations simultaneously, one for each setting of an input or decision variable.One of the primary advantages of simulation models is that they enable managers to answer what-if questions about changes in systems without actually changing the physical systems themselves.When we solve a nonlinear programming problem (NLP), it is very possible that Solver will obtain a suboptimal solution.A correlation matrix must always have 1’s along its diagonal (because a variable is always perfectly correlated with itself) and the correlations between variables elsewhere.The built-in functions in Excel, along with the RAND function, can be used to generate random numbers from many different types of probability distributions.A common distribution for modeling product lifetimes is the binomial distribution.The random nature of games of chance make them poor candidates for simulation.

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Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Select all of the true statements:

When we successfully find a solution to a linear programming problem (using the Simplex LP method) with Solver, we cannot guarantee that the solution obtained is an optimal solution.
If all the supplies and demands for a transportation model are integers, then the optimal Solver solution may or may not have integer-valued shipments.
In transportation problem, shipping costs are often nonlinear due to quantity discounts.
RISKSIMTABLE is a function in @RISK for running several simulations simultaneously, one for each setting of an input or decision variable.
One of the primary advantages of simulation models is that they enable managers to answer what-if questions about changes in systems without actually changing the physical systems themselves.
When we solve a nonlinear programming problem (NLP), it is very possible that Solver will obtain a suboptimal solution.
A correlation matrix must always have 1’s along its diagonal (because a variable is always perfectly correlated with itself) and the correlations between variables elsewhere.
The built-in functions in Excel, along with the RAND function, can be used to generate random numbers from many different types of probability distributions.
A common distribution for modeling product lifetimes is the binomial distribution.
The random nature of games of chance make them poor candidates for simulation.

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