Question 1

The allowable decrease for a changing cell (decision variable) is

Accepted Answer

A) the amount by which the constraint coefficient can decrease without changing final optimal solution. 
B) an indication of how many more units to produce to maximize profits. 
C) the amount by which objective function coefficient can decrease without changing the final optimal solution. 
D) an indication of how much to charge to get the optimal solution. 
A) the amount by which the constraint coefficient can decrease without changing final optimal solution. 
B) an indication of how many more units to produce to maximize profits. 
C) the amount by which objective function coefficient can decrease without changing the final optimal solution. 
D) an indication of how much to charge to get the optimal solution. C

Question 2

A binding less than or equal to ($\le$) constraint in a maximization problem means

Accepted Answer

A) that all of the resource represented by the constraint is consumed in the solution. 
B) it is not a constraint that the level curve contacts. 
C) another constraint is limiting the solution. 
D) the requirement for the constraint has been exceeded. 
A) that all of the resource represented by the constraint is consumed in the solution. 
B) it is not a constraint that the level curve contacts. 
C) another constraint is limiting the solution. 
D) the requirement for the constraint has been exceeded. A

Question 3

Identify the different sets of basic variables that might be used to obtain a solution to this problem.

Accepted Answer

The answer of Identify the different sets of basic variables...

Question 4

To convert $\le$constraints into = constraints the Simplex method adds what type of variable to the constraint?

Accepted Answer

A) slack 
B) dummy 
C) redundant 
D) spreading 
A) slack 
B) dummy 
C) redundant 
D) spreading

Question 5

The reduced cost for a changing cell (decision variable) is

Accepted Answer

A) the amount by which the objective function value changes if the variable is increased by one unit. 
B) how many more units to product to maximize profits. 
C) the per unit profits minus the per unit costs for that variable. 
D) equal to zero for variables at their optimal values. 
A) the amount by which the objective function value changes if the variable is increased by one unit. 
B) how many more units to product to maximize profits. 
C) the per unit profits minus the per unit costs for that variable. 
D) equal to zero for variables at their optimal values.

Question 6

The Cell Value column in the Solver Answer Report shows

Accepted Answer

A) which constraints are binding. 
B) final (optimal) value assumed by each constraint cell. 
C) objective function values. 
D) Right hand sides of constraints. 
A) which constraints are binding. 
B) final (optimal) value assumed by each constraint cell. 
C) objective function values. 
D) Right hand sides of constraints.

Question 7

A farmer is planning his spring planting. He has 20 acres on which he can plant a combination of Corn, Pumpkins and Beans. He wants to maximize his profit but there is a limited demand for each crop. Each crop also requires fertilizer and irrigation water both of which are in short supply. The following table summarizes the data for the problem.
   Based on the following Risk Solver Platform (RSP) sensitivity output, how much can the price of Corn drop before it is no longer profitable to plant corn?

Accepted Answer

The allowa

Question 8

Which of the following statements is false concerning either of the Allowable Increase and Allowable Decrease columns in the Sensitivity Report?

Accepted Answer

A) The values equate the decision variable profit to the cost of resources expended. 
B) The values give the range over which a shadow price is accurate. 
C) The values give the range over which an objective function coefficient can change without changing the optimal solution. 
D) The values provide a means to recognize when alternate optimal solution exist. 
A) The values equate the decision variable profit to the cost of resources expended. 
B) The values give the range over which a shadow price is accurate. 
C) The values give the range over which an objective function coefficient can change without changing the optimal solution. 
D) The values provide a means to recognize when alternate optimal solution exist.

Question 9

A solution to the system of equations using a set of basic variables is called

Accepted Answer

A) a feasible solution. 
B) basic feasible solution. 
C) a nonbasic solution. 
D) a nonbasic feasible solution 
A) a feasible solution. 
B) basic feasible solution. 
C) a nonbasic solution. 
D) a nonbasic feasible solution

Question 10

The following questions correspond to the problem below and associated Risk Solver Platform (RSP) sensitivity report.
Robert Hope received a welcome surprise in this management science class; the instructor has decided to let each person define the percentage contribution to their grade for each of the graded instruments used in the class. These instruments were: homework, an individual project, a mid-term exam, and a final exam. Robert's grades on these instruments were 75, 94, 85, and 92, respectively. However, the instructor complicated Robert's task somewhat by adding the following stipulations:
   The following LP model allows Robert to maximize his numerical grade.    
-Refer to Exhibit 4.2. Based on the Risk Solver Platform (RSP) sensitivity report information, is there anything Robert can request of his instructor to improve his final grade?

Accepted Answer

Robert can request an increase

Question 11

Identify the different sets of basic variables that might be used to obtain a solution to this problem.

Accepted Answer

The answer of Identify the different sets of basic variables...

Question 12

What is the optimal objective function value if X1 is at its lower limit in the following Risk Solver Platform (RSP) sensitivity output?

Accepted Answer

Question 13

Jones Furniture Company produces beds and desks for college students. The production process requires carpentry and varnishing. Each bed requires 6 hours of carpentry and 4 hour of varnishing. Each desk requires 4 hours of carpentry and 8 hours of varnishing. There are 36 hours of carpentry time and 40 hours of varnishing time available. Beds generate $30 of profit and desks generate $40 of profit. Demand for desks is limited so at most 8 will be produced.How much can the price of Desks drop before it is no longer profitable to produce them? Base your response on the following Risk Solver Platform (RSP) sensitivity output.
   The LP model for the problem is

Accepted Answer

The allowa

Question 14

The following questions correspond to the problem below and associated Risk Solver Platform (RSP) sensitivity report.
Robert Hope received a welcome surprise in this management science class; the instructor has decided to let each person define the percentage contribution to their grade for each of the graded instruments used in the class. These instruments were: homework, an individual project, a mid-term exam, and a final exam. Robert's grades on these instruments were 75, 94, 85, and 92, respectively. However, the instructor complicated Robert's task somewhat by adding the following stipulations:
   The following LP model allows Robert to maximize his numerical grade.    
-Refer to Exhibit 4.2. Based on the Risk Solver Platform (RSP) sensitivity report information, Robert has been approved by his instructor to increase the total weight allowed for the project and final exam to 0.50 plus the allowable increase. When Robert re-solves his model, what will his new final grade score be?

Accepted Answer

88.85 since shadow p

Question 15

Benefits of sensitivity analysis include all the following except:

Accepted Answer

A) provides a better picture of how solutions change as model factors change. 
B) fosters managerial acceptance of the optimal solution. 
C) overcomes management skepticism of optimal solutions. 
D) answers potential managerial questions regarding the solution to an LP problem. 
A) provides a better picture of how solutions change as model factors change. 
B) fosters managerial acceptance of the optimal solution. 
C) overcomes management skepticism of optimal solutions. 
D) answers potential managerial questions regarding the solution to an LP problem.

Question 16

The allowable increase for a constraint is

Accepted Answer

A) how many more units of resource to purchase to maximize profits. 
B) the amount by which the resource can increase given shadow price. 
C) how much resource to use to get the optimal solution. 
D) the amount by which the constraint coefficient can increase without changing the final optimal value. 
A) how many more units of resource to purchase to maximize profits. 
B) the amount by which the resource can increase given shadow price. 
C) how much resource to use to get the optimal solution. 
D) the amount by which the constraint coefficient can increase without changing the final optimal value.

Question 17

Risk Solver Platform (RSP) provides sensitivity analysis information on all of the following except the

Accepted Answer

A) range of values for objective function coefficients which do not change optimal solution. 
B) impact on optimal objective function value of changes in constrained resources. 
C) impact on optimal objective function value of changes in value of decision variables. 
D) impact on right hand sides of changes in constraint coefficients. 
A) range of values for objective function coefficients which do not change optimal solution. 
B) impact on optimal objective function value of changes in constrained resources. 
C) impact on optimal objective function value of changes in value of decision variables. 
D) impact on right hand sides of changes in constraint coefficients.

Question 18

How many basic variables are there in a linear programming model which has n variables and m constraints?

Accepted Answer

A) n 
B) m 
C) n + m 
D) n - m 
A) n 
B) m 
C) n + m 
D) n - m

Question 19

The allowable increase for a changing cell (decision variable) is

Accepted Answer

A) how many more units to produce to maximize profits. 
B) the amount by which the objective function coefficient can increase without changing the optimal solution. 
C) how much to charge to get the optimal solution. 
D) the amount by which constraint coefficient can increase without changing the optimal solution. 
A) how many more units to produce to maximize profits. 
B) the amount by which the objective function coefficient can increase without changing the optimal solution. 
C) how much to charge to get the optimal solution. 
D) the amount by which constraint coefficient can increase without changing the optimal solution.

Question 20

Use slack variables to rewrite this problem so that all its constraints are equality constraints.

Accepted Answer

The answer of Use slack variables to rewrite this problem...

The allowable decrease for a changing cell (decision variable) is

A binding less than or equal to ( $\le$ ) constraint in a maximization problem means

Identify the different sets of basic variables that might be used to obtain a solution to this problem.

To convert $\le$ constraints into = constraints the Simplex method adds what type of variable to the constraint?

The reduced cost for a changing cell (decision variable) is

The Cell Value column in the Solver Answer Report shows

Which of the following statements is false concerning either of the Allowable Increase and Allowable Decrease columns in the Sensitivity Report?

A solution to the system of equations using a set of basic variables is called

Identify the different sets of basic variables that might be used to obtain a solution to this problem.

What is the optimal objective function value if X₁ is at its lower limit in the following Risk Solver Platform (RSP) sensitivity output?

Benefits of sensitivity analysis include all the following except:

The allowable increase for a constraint is

Risk Solver Platform (RSP) provides sensitivity analysis information on all of the following except the

How many basic variables are there in a linear programming model which has n variables and m constraints?

The allowable increase for a changing cell (decision variable) is

Use slack variables to rewrite this problem so that all its constraints are equality constraints.

Introduction to Modeling and Decision Analysis

Introduction to Optimization and Linear Programming

Modeling and Solving Lp Problems in a Spreadsheet

Network Modeling

Integer Linear Programming

Goal Programming and Multiple Objective Optimization

Nonlinear Programming and Evolutionary Optimization

Regression Analysis

Discriminant Analysis

Time Series Forecasting

Introduction to Simulation Using Risk Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters

Exam 4: Sensitivity Analysis and the Simplex Method

The allowable decrease for a changing cell (decision variable) is

A binding less than or equal to ( ≤\le≤ ) constraint in a maximization problem means

Identify the different sets of basic variables that might be used to obtain a solution to this problem.

To convert ≤\le≤ constraints into = constraints the Simplex method adds what type of variable to the constraint?

The reduced cost for a changing cell (decision variable) is

The Cell Value column in the Solver Answer Report shows

Which of the following statements is false concerning either of the Allowable Increase and Allowable Decrease columns in the Sensitivity Report?

A solution to the system of equations using a set of basic variables is called

Identify the different sets of basic variables that might be used to obtain a solution to this problem.

What is the optimal objective function value if X1 is at its lower limit in the following Risk Solver Platform (RSP) sensitivity output?

Benefits of sensitivity analysis include all the following except:

The allowable increase for a constraint is

Risk Solver Platform (RSP) provides sensitivity analysis information on all of the following except the

How many basic variables are there in a linear programming model which has n variables and m constraints?

The allowable increase for a changing cell (decision variable) is

Use slack variables to rewrite this problem so that all its constraints are equality constraints.

Introduction to Modeling and Decision Analysis

Introduction to Optimization and Linear Programming

Modeling and Solving Lp Problems in a Spreadsheet

Network Modeling

Integer Linear Programming

Goal Programming and Multiple Objective Optimization

Nonlinear Programming and Evolutionary Optimization

Regression Analysis

Discriminant Analysis

Time Series Forecasting

Introduction to Simulation Using Risk Solver Platform

Queuing Theory

Decision Analysis

Project Management Online

Filters

A binding less than or equal to ( $\le$ ) constraint in a maximization problem means

To convert $\le$ constraints into = constraints the Simplex method adds what type of variable to the constraint?

What is the optimal objective function value if X₁ is at its lower limit in the following Risk Solver Platform (RSP) sensitivity output?