Given the Following Linear Programming Problem That Minimizes Cost

question 21

Multiple Choice

Given the following linear programming problem that minimizes cost:
Min Z = 2x + 8y
Subject to (1) 8x + 4y ? 64
      (2) 2x + 4y ? 32
      (3) y ? 2
-At the optimal solution, the minimum cost is:

• A) $40
• B) $50
• C) $52
• D) $53.33

---

Definitions:

Forecasting

The practice of making predictions about future events or trends based on historical data and analysis, often used in planning and decision-making processes.

Replenishment Plans

Strategies or methods used to determine when and how much inventory should be restocked.

Delphi Technique

A forecasting method that relies on a panel of experts answering questionnaires in two or more rounds to reach a consensus on the predictions for future events.

Kanban Systems

A workflow management method for defining, managing, and improving services that deliver knowledge work, using visual cues to trigger actions.