Lecture 4: LP Models Using Excel

What is the Feasible Region in a Graphical Representation of a Constraint?

Where all constraints are satisfied

What is the Infeasible Solution in a Graphical Representation of a Constraint?

Any point outside the region

A point inside the region in a Graphical Representation of a Constraint is…

A feasible solution

How can a Graphical Solution Method only be used?

To solve a linear program with two variables

What is the goal of a Graphical Representation of a Constraint?

To find a solution that satisfies both constraints simultaneously

What is Slack?

Any unused resource for a ≤ constraint

What is the formula for Slack?

Slack = (Amount of resource available) — (Amount of resource used)

What is a Binding Constraint for Slack & Surplus?

The constraints with zero slack or surplus

What does a Binding Constraint mean?

The constraints are binding at the optimality

What are Nonbinding Constraints?

The constraints with non-zero slack or surplus

What is Surplus?

Any excess amount for a ≥ constraint

What is the formula for Surplus?

Surplus = (Actual amount) — (Minimum amount)