Problem 6: T/F t your answer for each of the questions onto the Scan Tron. . At

Question

Problem 6: T/F

t your answer for each of the questions onto the Scan Tron. . At break-even point, the total revenue is greater than the total cost. 2. Management Science methodology is also known as qualitative method. 3. The sensitivity range for an objective function coefficient is the range of values over which the current optimal solution point will remain optimal. 4. Production planning can be one of the business usages of management science. 5. Maximizing cost or minimizing profit is typical objective of business decisions. 6. Sensitivity analysis determines the effect on the optimal solution of changes in parameter values of the objective function and constraint equations. on 2-Multiple Choice (2 points each) put your answer for each of the questions onto the ScanTron. 7 Ahout the following model which of following statement is correct

Explanation / Answer

1. FALSE

2. FALSE. It is known as quantitative method

3. TRUE

4. TRUE

5. FALSE. It is the opposite. Maximizing profit or minimizing cost is the objective.

6. TRUE

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