Question 1

The reduced cost of a variable is the dual value of the corresponding nonnegativity constraint.

Accepted Answer

A) True 
 B)False  True

Question 2

Excel's Solver tool has been used in the spreadsheet below to solve a linear programming problem with a minimization objective function and all ≥ constraints.   ​ 
a.Give the original linear programming problem.
b.Give the complete optimal solution.

Accepted Answer

​

Question 3

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

Accepted Answer

A) True 
 B)False  False

Question 4

The amount the objective function coefficient of a decision variable would have to improve before that variable would have a positive value in the solution is the

Accepted Answer

A) dual price. 
B) surplus variable. 
C) reduced cost. 
D) upper limit. 
A) dual price. 
B) surplus variable. 
C) reduced cost. 
D) upper limit.

Question 5

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

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.

Question 6

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 7

The optimal solution of this linear programming problem is at the intersection of constraints 1 and 2.   ​ 
a.​
Over what range can the coefficient of x1 vary before the current solution is no longer optimal?
b.​
Over what range can the coefficient of x2 vary before the current solution is no longer optimal?
c.Compute the dual prices for the three constraints.

Accepted Answer

Question 8

Consider the following linear program:   The graphical solution to the problem is shown below.From the graph,we see that the optimal solution occurs at x1 = 5,x2 = 3,and z = 46.   
a.Calculate the range of optimality for each objective function coefficient.
b.Calculate the dual price for each resource.

Accepted Answer

Question 9

If the range of feasibility for b1 is between 16 and 37,then if b1 = 22,the optimal solution will not change from the original optimal solution.

Accepted Answer

A) True 
 B)False

Question 10

If two or more objective function coefficients are changed simultaneously,further analysis is necessary to determine whether the optimal solution will change.

Accepted Answer

A) True 
 B)False

Question 11

Relevant costs should be reflected in the objective function,but sunk costs should not.

Accepted Answer

A) True 
 B)False

Question 12

​The cost that varies depending on the values of the decision variables is a

Accepted Answer

A) ​reduced cost. 
B) ​relevant cost. 
C) ​sunk cost. 
D) ​dual cost. 
A) ​reduced cost. 
B) ​relevant cost. 
C) ​sunk cost. 
D) ​dual cost.

Question 13

Increasing the right-hand side of a nonbinding constraint will not cause a change in the optimal solution.

Accepted Answer

A) True 
 B)False

Question 14

If the range of feasibility indicates that the original amount of a resource,which was 20,can increase by 5,then the amount of the resource can increase to 25.

Accepted Answer

A) True 
 B)False

Question 15

When two or more objective function coefficients are changed simultaneously,further analysis is necessary to determine whether the optimal solution will change.

Accepted Answer

A) True 
 B)False

Question 16

A negative dual price for a constraint in a minimization problem means

Accepted Answer

A) as the right-hand side increases,the objective function value will increase. 
B) as the right-hand side decreases,the objective function value will increase. 
C) as the right-hand side increases,the objective function value will decrease. 
D) as the right-hand side decreases,the objective function value will decrease. 
A) as the right-hand side increases,the objective function value will increase. 
B) as the right-hand side decreases,the objective function value will increase. 
C) as the right-hand side increases,the objective function value will decrease. 
D) as the right-hand side decreases,the objective function value will decrease.

Question 17

To solve a linear programming problem with thousands of variables and constraints,

Accepted Answer

A) a personal computer can be used. 
B) a mainframe computer is required. 
C) the problem must be partitioned into subparts. 
D) unique software would need to be developed. 
A) a personal computer can be used. 
B) a mainframe computer is required. 
C) the problem must be partitioned into subparts. 
D) unique software would need to be developed.

Question 18

A cost that is incurred no matter what values the decision variables assume is a(n)

Accepted Answer

A) reduced cost. 
B) optimal cost. 
C) sunk cost. 
D) dual cost. 
A) reduced cost. 
B) optimal cost. 
C) sunk cost. 
D) dual cost.

Question 19

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 the

Accepted Answer

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

Question 20

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

Accepted Answer

A) minimum amount the firm should be willing to pay for one additional unit of the resource. 
B) maximum amount the firm should be willing to pay for one additional unit of the resource. 
C) minimum amount the firm should be willing to pay for multiple additional units of the resource. 
D) maximum amount the firm should be willing to pay for multiple additional units of the resource. 
A) minimum amount the firm should be willing to pay for one additional unit of the resource. 
B) maximum amount the firm should be willing to pay for one additional unit of the resource. 
C) minimum amount the firm should be willing to pay for multiple additional units of the resource. 
D) maximum amount the firm should be willing to pay for multiple additional units of the resource.

The reduced cost of a variable is the dual value of the corresponding nonnegativity constraint.

Excel's Solver tool has been used in the spreadsheet below to solve a linear programming problem with a minimization objective function and all ≥ constraints. a.Give the original linear programming problem. b.Give the complete optimal solution.

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

The amount the objective function coefficient of a decision variable would have to improve before that variable would have a positive value in the solution is the

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

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.

If the range of feasibility for b₁ is between 16 and 37,then if b₁ = 22,the optimal solution will not change from the original optimal solution.

If two or more objective function coefficients are changed simultaneously,further analysis is necessary to determine whether the optimal solution will change.

Relevant costs should be reflected in the objective function,but sunk costs should not.

The cost that varies depending on the values of the decision variables is a

Increasing the right-hand side of a nonbinding constraint will not cause a change in the optimal solution.

If the range of feasibility indicates that the original amount of a resource,which was 20,can increase by 5,then the amount of the resource can increase to 25.

When two or more objective function coefficients are changed simultaneously,further analysis is necessary to determine whether the optimal solution will change.

A negative dual price for a constraint in a minimization problem means

To solve a linear programming problem with thousands of variables and constraints,

A cost that is incurred no matter what values the decision variables assume is a(n)

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 the

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

Introduction

An Introduction to Linear Programming

Linear Programming Applications in Marketing, finance, and OM

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

Time Series Analysis and Forecasting

Markov Processes

Linear Programming: Simplex Method

Simplex-Based Sensitivity Analysis and Duality

Solution Procedures for Transportation and Assignment Problems

Minimal Spanning Tree

Dynamic Programming

Filters

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

The reduced cost of a variable is the dual value of the corresponding nonnegativity constraint.

Excel's Solver tool has been used in the spreadsheet below to solve a linear programming problem with a minimization objective function and all ≥ constraints. ​ a.Give the original linear programming problem. b.Give the complete optimal solution.

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

The amount the objective function coefficient of a decision variable would have to improve before that variable would have a positive value in the solution is the

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

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.

Consider the following linear program: The graphical solution to the problem is shown below.From the graph,we see that the optimal solution occurs at x1 = 5,x2 = 3,and z = 46. a.Calculate the range of optimality for each objective function coefficient. b.Calculate the dual price for each resource.

If the range of feasibility for b1 is between 16 and 37,then if b1 = 22,the optimal solution will not change from the original optimal solution.

If two or more objective function coefficients are changed simultaneously,further analysis is necessary to determine whether the optimal solution will change.

Relevant costs should be reflected in the objective function,but sunk costs should not.

​The cost that varies depending on the values of the decision variables is a

Increasing the right-hand side of a nonbinding constraint will not cause a change in the optimal solution.

If the range of feasibility indicates that the original amount of a resource,which was 20,can increase by 5,then the amount of the resource can increase to 25.

When two or more objective function coefficients are changed simultaneously,further analysis is necessary to determine whether the optimal solution will change.

A negative dual price for a constraint in a minimization problem means

To solve a linear programming problem with thousands of variables and constraints,

A cost that is incurred no matter what values the decision variables assume is a(n)

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 the

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

Introduction

An Introduction to Linear Programming

Linear Programming Applications in Marketing, finance, and OM

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

Time Series Analysis and Forecasting

Markov Processes

Linear Programming: Simplex Method

Simplex-Based Sensitivity Analysis and Duality

Solution Procedures for Transportation and Assignment Problems

Minimal Spanning Tree

Dynamic Programming

Filters

Excel's Solver tool has been used in the spreadsheet below to solve a linear programming problem with a minimization objective function and all ≥ constraints. a.Give the original linear programming problem. b.Give the complete optimal solution.

If the range of feasibility for b₁ is between 16 and 37,then if b₁ = 22,the optimal solution will not change from the original optimal solution.

The cost that varies depending on the values of the decision variables is a