Exam 4: Sensitivity Analysis and the Simplex Method

The difference between the right-hand side (RHS) values of the constraints and the final (optimal) value assumed by the left-hand side (LHS) formula for each constraint is called the slack and is found in the

Meaningful Analytic Solver Platform (ASP) sensitivity report headings can be defined

Consider the following linear programming model and Analytic Solver Platform sensitivity output. What is the optimal objective function value if the RHS of the first constraint increases to 18? ​

The sensitivity analysis provides information about which of the following?

A spider plot

Binding constraints have

When a variable is basic

When the allowable increase or allowable decrease for the objective function coefficient of one or more variables is zero it indicates (in the absence of degeneracy) that

The optimization technique that locates solutions in the interior of the feasible region is known as

Consider the formulation below. The standard form of the second constraint is:

Exhibit 4.1 The following questions are based on the problem below and accompanying Analytic Solver Platform sensitivity report. Carlton construction is supplying building materials for a new mall construction project in Kansas. Their contract calls for a total of 250,000 tons of material to be delivered over a three-week period. Carlton's supply depot has access to three modes of transportation: a trucking fleet, railway delivery, and air cargo transport. Their contract calls for 120,000 tons delivered by the end of week one, 80% of the total delivered by the end of week two, and the entire amount delivered by the end of week three. Contracts in place with the transportation companies call for at least 45% of the total delivered be delivered by trucking, at least 40% of the total delivered be delivered by railway, and up to 15% of the total delivered be delivered by air cargo. Unfortunately, competing demands limit the availability of each mode of transportation each of the three weeks to the following levels (all in thousands of tons): The following is the LP model for this logistics problem. -Refer to Exhibit 4.1. The Week 1 by Truck and Week 1 by Rail constraints each have a shadow price of −360. What do these values imply?

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 Analytic Solver Platform sensitivity output. The LP model for the problem is ​

What are the objective function coefficients for X₁ and X₂ based on the following Analytic Solver Platform sensitivity output?

Consider the formulation below. The standard form of the second constraint is:

A binding greater than or equal to (≥) constraint in a minimization problem means that

A change in the right hand side of a binding constraint may change all of the following except

Exhibit 4.1 The following questions are based on the problem below and accompanying Analytic Solver Platform sensitivity report. Carlton construction is supplying building materials for a new mall construction project in Kansas. Their contract calls for a total of 250,000 tons of material to be delivered over a three-week period. Carlton's supply depot has access to three modes of transportation: a trucking fleet, railway delivery, and air cargo transport. Their contract calls for 120,000 tons delivered by the end of week one, 80% of the total delivered by the end of week two, and the entire amount delivered by the end of week three. Contracts in place with the transportation companies call for at least 45% of the total delivered be delivered by trucking, at least 40% of the total delivered be delivered by railway, and up to 15% of the total delivered be delivered by air cargo. Unfortunately, competing demands limit the availability of each mode of transportation each of the three weeks to the following levels (all in thousands of tons): The following is the LP model for this logistics problem. -Refer to Exhibit 4.1. Are there alternate optimal solutions to this problem?

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

The Simplex method works by first

A manager should consider how sensitive the model is to changes in all of the following except