Which of the Following Statements Is FALSE About Methods Involved

question 34

Multiple Choice

Which of the following statements is FALSE about methods involved in solving a transportation problem?

• A)Matrix least cost method reduces the number of computations and the time required to determine the optimal solution.
• B)Northwest corner rule is intuitively more appealing and has better rationale than the matrix least cost method.
• C)Northwest corner rule begins at the top left-hand corner of the matrix and allocates units until either the supply is exhausted or demand is met.
• D)Matrix least cost method begins with the cell that has the lowest per unit cost and allocates units until either the supply is exhausted or demand is met.

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Definitions:

Utility Function

Depicts how different combinations of goods or services generate levels of happiness or utility for a person or household.

Probability

A measure of the likelihood of a specific event or outcome occurring, expressed as a number between 0 and 1.

Expected Utility Function

A concept in economics that quantifies an individual's preference for different outcomes, accounting for risk and uncertainty.

Probability

A numeric expression ranging between 0 and 1 that signifies the chances of an event's occurrence.