FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

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

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

Multiple Choice

Review LaterAdd Note

Review Later

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

A) If the right-hand side value of a constraint changes, will the objective function value change?
B) Over what range can a constraint's right-hand side value without the constraint's dual price possibly changing?
C) By how much will the objective function value change if the right-hand side value of a constraint changes beyond the range of feasibility?
D) By how much will the objective function value change if a decision variable's coefficient in the objective function changes within the range of optimality?

Correct Answer

verified

Show Answer

Question 2

True/False

Review LaterAdd Note

Review Later

Classical sensitivity analysis provides no information about changes resulting from a change in the coefficient of a variable in a constraint.

Correct Answer

verified

Show Answer

Question 3

Multiple Choice

Review LaterAdd Note

​Sensitivity analysis is concerned with how certain changes affect

If the dual price for the right-hand side of a ≤ constraint is zero, there is no upper limit on its range of feasibility.

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

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

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

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

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.

​A cost that is incurred no matter what values the decision variables assume is

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

The range of feasibility measures

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

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.

​How is sensitivity analysis used in linear programming? Given an example of what type of questions that can be answered.

The reduced cost for a positive decision variable is 0.

In a linear programming problem, the binding constraints for the optimal solution are 5X + 3Y ≤ 30 2X + 5Y ≤ 20 a.Fill in the blanks in the following sentence:As long as the slope of the objective function stays between _______ and _______, the current optimal solution point will remain optimal. b.Which of these objective functions will lead to the same optimal solution?1) 2X + 1Y 2) 7X + 8Y 3) 80X + 60Y 4) 25X + 35Y

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.

​Explain the connection between reduced costs and the range of optimality, and between dual prices and the range of feasibility.

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