Question 1

A constraint with a positive slack value

Accepted Answer

A)  will have a positive dual price. 
B)  will have a negative dual price. 
C)  will have a dual price of zero. 
D)  has no restrictions for its dual price. 
A)  will have a positive dual price. 
B)  will have a negative dual price. 
C)  will have a dual price of zero. 
D)  has no restrictions for its dual price.

Question 2

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

Accepted Answer

A)  what its objective function value would need to be before it could become positive. 
B)  the amount its objective function value would need to improve before it could become positive. 
C)  zero. 
D)  its dual price. 
A)  what its objective function value would need to be before it could become positive. 
B)  the amount its objective function value would need to improve before it could become positive. 
C)  zero. 
D)  its dual price.

Question 3

The 100% Rule does not imply that the optimal solution will necessarily change if the percentage exceeds 100%.

Accepted Answer

A) True 
 B)False

Question 4

The 100 percent rule can be applied to changes in both objective function coefficients and right-hand sides at the same time.

Accepted Answer

A) True 
 B)False

Question 5

The dual price for a percentage constraint provides a direct answer to questions about the effect of increases or decreases in that percentage.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

For a minimization problem, a positive dual price indicates the value of the objective function will increase.

Accepted Answer

A) True 
 B)False

Question 9

In order to tell the impact of a change in a constraint coefficient, the change must be made and then the model resolved.

Accepted Answer

A) True 
 B)False

Question 10

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.

Accepted Answer

A) True 
 B)False

Question 11

Any change to the objective function coefficient of a variable that is positive in the optimal solution will change the optimal solution.

Accepted Answer

A) True 
 B)False

Question 12

The amount of a sunk cost will vary depending on the values of the decision variables.

Accepted Answer

A) True 
 B)False

Question 13

There is a dual price for every decision variable in a model.

Accepted Answer

A) True 
 B)False

Question 14

An objective function reflects the relevant cost of labor hours used in production rather than treating them as a sunk cost. The correct interpretation of the dual price associated with the labor hours constraint is

Accepted Answer

A)  the maximum premium (say for overtime) over the normal price that the company would be willing to pay. 
B)  the upper limit on the total hourly wage the company would pay. 
C)  the reduction in hours that could be sustained before the solution would change. 
D)  the number of hours by which the right-hand side can change before there is a change in the solution point. 
A)  the maximum premium (say for overtime) over the normal price that the company would be willing to pay. 
B)  the upper limit on the total hourly wage the company would pay. 
C)  the reduction in hours that could be sustained before the solution would change. 
D)  the number of hours by which the right-hand side can change before there is a change in the solution point.

Question 15

For any constraint, either its slack/surplus value must be zero or its dual price must be zero.

Accepted Answer

A) True 
 B)False

Question 16

Sensitivity analysis information in computer output is based on the assumption of

Accepted Answer

A)  no coefficient changes. 
B)  one coefficient changes. 
C)  two coefficients change. 
D)  all coefficients change. 
A)  no coefficient changes. 
B)  one coefficient changes. 
C)  two coefficients change. 
D)  all coefficients change.

A constraint with a positive slack value

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

The 100% Rule does not imply that the optimal solution will necessarily change if the percentage exceeds 100%.

The 100 percent rule can be applied to changes in both objective function coefficients and right-hand sides at the same time.

The dual price for a percentage constraint provides a direct answer to questions about the effect of increases or decreases in that percentage.

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

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

For a minimization problem, a positive dual price indicates the value of the objective function will increase.

In order to tell the impact of a change in a constraint coefficient, the change must be made and then the model resolved.

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.

Any change to the objective function coefficient of a variable that is positive in the optimal solution will change the optimal solution.

The amount of a sunk cost will vary depending on the values of the decision variables.

There is a dual price for every decision variable in a model.

An objective function reflects the relevant cost of labor hours used in production rather than treating them as a sunk cost. The correct interpretation of the dual price associated with the labor hours constraint is

For any constraint, either its slack/surplus value must be zero or its dual price must be zero.

Sensitivity analysis information in computer output is based on the assumption of

Introduction

An Introduction to Linear Programming

Linear Programming Applications in Marketing, Finance, and Operations Management

Advanced Linear Programming Applications

Distribution and Network Models

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Forecasting

Markov Processes

Filters

Exam 3: Linear Programming: Sensitivity Analysis and Interpretation of Solution

A constraint with a positive slack value

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

The 100% Rule does not imply that the optimal solution will necessarily change if the percentage exceeds 100%.

The 100 percent rule can be applied to changes in both objective function coefficients and right-hand sides at the same time.

The dual price for a percentage constraint provides a direct answer to questions about the effect of increases or decreases in that percentage.

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

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

For a minimization problem, a positive dual price indicates the value of the objective function will increase.

In order to tell the impact of a change in a constraint coefficient, the change must be made and then the model resolved.

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.

Any change to the objective function coefficient of a variable that is positive in the optimal solution will change the optimal solution.

The amount of a sunk cost will vary depending on the values of the decision variables.

There is a dual price for every decision variable in a model.

An objective function reflects the relevant cost of labor hours used in production rather than treating them as a sunk cost. The correct interpretation of the dual price associated with the labor hours constraint is

For any constraint, either its slack/surplus value must be zero or its dual price must be zero.

Sensitivity analysis information in computer output is based on the assumption of

Introduction

An Introduction to Linear Programming

Linear Programming Applications in Marketing, Finance, and Operations Management

Advanced Linear Programming Applications

Distribution and Network Models

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Decision Analysis

Multicriteria Decisions

Forecasting

Markov Processes

Filters