Here, the system has two equations (m = 2) and four variables. (n = 4) Thus, there are 6 basic solutions.

C2-4 = 4!/ 2!(4 − 2)! = 6

The correct answer is C.

The solution of a transportation problem begins with determining a basic feasible solution to proceed to the next phase. A balanced transportation problem has m + n – 1 basic variables in its basic feasible solution, whereas the number of the constraint equations is m + n. The correct answer is given in option A.

Iteration is a repetition of a mathematical procedure applied to the result of a previous application.

In the simplex tableau, this is implied by a negative coefficient in the pivotal column. Before moving forward, the steps of determining the pivotal row are given below:

1. Take each positive coefficient in the pivotal column.

2. Divide each of these into the right-hand side constant for the corresponding row.

3. Identify the row that has the minimum ratio.

4. Pivotal row is the row that is identified in the previous step.

The correct answer is A.

For a basic feasible solution of the primal model, the objective value, Z is equal or greater than W, the objective value of the corresponding dual solution. This is called weak duality property: the researcher begins at any point, then reaches the optimum at a level by lowering the costs and thus increasing the revenues simultaneously.

A balanced transportation problem has m + n – 1 basic variables in its basic feasible solution, whereas the number of its dual variables is m + n.

I . pg. 100 . Correct answer is B.

The process of choosing the most appropriate one of the alternatives is called “decision making”. The correct answer is C.

The dual model interchanges costs and constraints of the primal model, and converts the objective from maximization to minimization. Moreover, the values of the decision variables of the dual model reveal the prices for the constraints of the original problem
for a basic feasible solution. This interpretation provides an economic perspective for solving the primal problem. Combining this economic insight and the properties of duality allows for an easier method altering the regular version of the simplex algorithm for the solution of a balanced transportation model. According tı these, the correct answer is given in the option B.

A slack variable represents the remainder of an expendable resource and applies to less than or equal constraints. On the other hand, a surplus represents the excess amount of a restricted resource and applies to greater than or equal constraints.

The pivot number in the tableau below is 6:

There are three different decision-making environments according to the level of knowledge or information of the decision-maker regarding events or states of nature: 

1. Decision making under certainty
2. Decision making under uncertainty
3. Decision making under risks

The correct answer is E.

A pure strategy is an unconditional decision always to select a particular course of action. For example, in the game of Rock-PaperScissors, if a player would choose to only play Rock for each interdependent trial, regardless of the other player’s strategy, it would be the player’s pure strategy.

Hawk-Dove: Hawk-Dove game, is also known as The Game of Chicken is an example of conflict for two players in the game theory. Two animals are fighting for some prey. An animal that plays the strategy Hawk (H) behaves aggressively, while the other one plays the strategy Dove (D) behaves passively.

If there isn't a better CPF solution iteration is not applied. 

A payoff matrix shows the gains and losses that result from a combination of players’ strategy choices.

The initial basic feasible solution obtained in the table below has the basic variables given below.

x₁₂ = 9, x₁₃ = 1, x₂₃ = 4, x₃₁ = 4, x₄₁ = 7, x₄₂ = 5,

The objective value for this solution, which is the total transportation cost is 149 TL.

Z = 8× 9 + 3 × 1 + 2 × 4 + 2× 4+ 4 ×7+ 6 × 8 = 149 TL.

Familiar examples of stochastic processes are as follows:
• daily prices of a stock or exchange rate fluctuations,
• failures times of a machine,
• medical data such as a patient’s blood pressure or EKG,
• radar measurements for the position of an airplane,
• tossing a coin.

"Minting a coin" is not an example of a stochastic process.