Q1. Establish the difference between the following terms:
a) Feasible solution
b) Basic Feasible Solution
c) Degenerate Basic Feasible Solution
d) Optimum Basic Feasible Solution
e) Explain the significance of shadow price.
Q2. Write detail note on the following:
a) Monte-Carlo Simulation Method
b) Properties of Gomery’s cutting plane method and the steps comprised to solve Integer Linear Programming Problem.
c) Differentiate between the simulation and modeling.
Q3. What do you mean by revise simplex method? Describe the merits of Revised Simplex Method over ordinary simplex method.
Q4. Describe the transportation problem with appropriate illustrations. As well describe the assignment problem in short.