One of the Things That You Can Do with Linear

question 34

Multiple Choice

One of the things that you can do with linear programming and a spreadsheet model is to develop a user interface to make it easier for someone who is not an expert in using linear programming.The output can be a report that explains the optimal policy in non-technical terms.The type of system being described is called a (n) :

• A) expert system
• B) decision support system
• C) linear programming support system
• D) production planning system

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Definitions:

Opportunity Cost

The potential benefit that may be obtained from following an alternative course of action.

Nonfinancial Information

Information that is not monetary in nature, such as customer satisfaction, employee turnover, and operational efficiency, used in decision making.

Unprofitable Segment

A division or branch of a company that does not generate profit and may cause a financial drain on the business.

Hurdle Rate

The minimum rate of return on an investment that is required by a manager or investor to proceed with the investment.