Portions of a Management Scientist Output Are Shown Below

question 16

Essay

Portions of a Management Scientist output are shown below.Use what you know about the solution of linear programs to fill in the ten blanks.
LINEAR PROGRAMMING PROBLEM
MAX 12X1+9X2+7X3
S.T.
1)3X1+5X2+4X3<150
2)2X1+1X2+1X3<64
3)1X1+2X2+1X3<80
4)2X1+4X2+3X3>116
OPTIMAL SOLUTION
Objective Function Value = 336.000 $$\begin{array} { c c c } \text { Variable } & \text { Value } & \text { Reduced Cost } \\\text { X1 } &-& 0.000 \\\text { X2 } & 24.000& -\\\text { X3 } & -& 3.500 \\\end{array}$$ $$\begin{array} { c c c } \text { Constraint } & \text { Slack/Surplus } & \text { Dual Price } \\1 & 0.000 & 15.000 \\2 & -& 0.000 \\3 & -& 0.000 \\4 & 0.000 & -\\\end{array}$$ OBJECTIVE COEFFICIENT RANGES $$\begin{array} { c c c c } \text { Variable } & \text { Lower Limit } & \text { Current Value } & \text { Upper Limit } \\\text { X1 } & 5.400 & 12.000 & \text { No Upper Limit } \\\text { X2 } & 2.000 & 9.000 & 20.000 \\\text { X3 } & \text { No Lower Limit } & 7.000 & 10.500\end{array}$$ RIGHT HAND SIDE RANGES $$\begin{array} { c c c r } \text { Constraint } & \text { Lower Limit } & \text { Current Value } & \text { Upper Limit } \\1 & 145.000 & 150.000 & 156.667 \\2 & -& -& 64.000 \\3 & -& - & 80.000 \\4 & 110.286& 116.000 & 120.000\end{array}$$

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Definitions:

Charters

Legal documents that establish the existence of corporations or cities and define their rights and privileges.

Negative Excess Reserves

A situation where banks have less reserves than the required minimum, often indicating liquidity problems within the banking system.

Liquidity Trap

A condition where the effectiveness of monetary policy in spurring economic growth is diminished due to high rates of savings and low interest rates.

Reserve Requirement

Central bank regulations that set the minimum amount of reserves that must be held by a commercial bank, not to be loaned out or spent.