Exam 3: LP Sensitivity Analysis and Interpretation of Solution

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The amount by which an objective function coefficient can change before a different set of values for the decision variables becomes optimal is the

(Multiple Choice)

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Question 21

Which of the following is not a question answered by sensitivity analysis?

(Multiple Choice)

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Question 22

If the optimal value of a decision variable is zero and its reduced cost is zero, this indicates that alternative optimal solutions exist.

(True/False)

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Question 23

If a decision variable is not positive in the optimal solution, its reduced cost is

(Multiple Choice)

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Question 24

A negative dual price indicates that increasing the right-hand side of the associated constraint would be detrimental to the objective.

(True/False)

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Question 25

When the right-hand sides of two constraints are each increased by one unit, the objective function value will be adjusted by the sum of the constraints' dual prices.

(True/False)

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Question 26

When the cost of a resource is sunk, then the dual price can be interpreted as the

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Question 27

Decision variables must be clearly defined before constraints can be written.

(True/False)

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Question 28

A section of output from The Management Scientist is shown here. What will happen to the solution if the objective function coefficient for variable 1 decreases by 20?

(Multiple Choice)

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Question 29

The dual price associated with a constraint is the improvement in the value of the solution per unit decrease in the right-hand side of the constraint.

(True/False)

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Question 30

Output from a computer package is precise and answers should never be rounded.

(True/False)

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Question 31

Showing 21 - 31 of 31

The amount by which an objective function coefficient can change before a different set of values for the decision variables becomes optimal is the

Which of the following is not a question answered by sensitivity analysis?

If the optimal value of a decision variable is zero and its reduced cost is zero, this indicates that alternative optimal solutions exist.

If a decision variable is not positive in the optimal solution, its reduced cost is

A negative dual price indicates that increasing the right-hand side of the associated constraint would be detrimental to the objective.

When the right-hand sides of two constraints are each increased by one unit, the objective function value will be adjusted by the sum of the constraints' dual prices.

When the cost of a resource is sunk, then the dual price can be interpreted as the

Decision variables must be clearly defined before constraints can be written.

A section of output from The Management Scientist is shown here. What will happen to the solution if the objective function coefficient for variable 1 decreases by 20?

The dual price associated with a constraint is the improvement in the value of the solution per unit decrease in the right-hand side of the constraint.

Output from a computer package is precise and answers should never be rounded.

Introduction

Introduction to Linear Programming

Linear Programming Applications

Advanced Linear Programming Applications

Distribution and Network Problems

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Forecasting

Markov Processes

LP: Simplex Method

Simplex-Based Sensitivity Analysis and Duality

Solution Procedures for Transportation and Assignment Problems

Minimal Spanning Tree

Dynamic Programming

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