Question 1

The allowable decrease for a constraint is

Accepted Answer

The allowable decrease for a constraint indicates the maximum amount by which the availability of a resource (or constraint coefficient) can be reduced before the optimal solution (or shadow price) changes. This concept is crucial in sensitivity analysis within linear programming.

Question 2

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

Accepted Answer

B

Question 3

The allowable increase for a constraint is

Accepted Answer

B

Question 4

The allowable increase for a changing cell decision variable)is

Accepted Answer

The allowable increase for a changing cell decision variable is the amount by which the objective function coefficient can increase without changing the optimal solution. This is because an increase in the objective function coefficient would affect the slope of the objective function line and could potentially change the optimal solution. The allowable increase is important in sensitivity analysis as it helps decision-makers understand the robustness of the optimal solution to changes in the input parameters.

Question 5

The slope of the level curve for the objective function value can be changed by

Accepted Answer

Changing a coefficient in the objective function will change the slope of the level curves for the objective function value. The slope will be proportional to the coefficient being changed.

Question 6

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

Accepted Answer

The answer of The difference between the right-hand side RHS)values...

Question 7

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

Accepted Answer

Differential coefficients are not typically included in linear programming models, so they would not be a factor in considering sensitivity to changes. Objective function coefficients, constraint coefficients, and right-hand side values for constraints can all have a significant impact on the solution and should be considered when evaluating sensitivity.

Question 8

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

Accepted Answer

A binding constraint means that the constraint is met with equality, therefore all of the resource represented by the constraint is consumed in the solution. In other words, the constraint is fully utilized and cannot be further increased without violating the problem's constraints. A constraint with ≤ indicates that it is possible to utilize less of the resource than what is represented by the constraint, but if the maximum allowed by the constraint is utilized, it is still considered a binding constraint.

Question 9

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

Accepted Answer

Labeling rows and columns in the spreadsheet model is the best way to define meaningful sensitivity report headings in Analytic Solver Platform (ASP). This allows for easy identification of the variables being analyzed and their respective values. Adding cell notes, using the Guess button, and naming cells may be helpful for other purposes, but do not necessarily contribute to creating meaningful sensitivity report headings.

Question 10

Analytic Solver Platform provides all of the following reports except

Accepted Answer

Analytic Solver Platform provides various reports for optimization and simulation models, including Answer, Sensitivity, and Limits reports. However, it does not specifically provide a report named "Cost performance," which is more of a concept or metric used in project management and cost accounting rather than a report generated by optimization or simulation software.

Question 11

The Cell Value column in the Solver Answer Report shows

Accepted Answer

The answer of The Cell Value column in the Solver...

Question 12

The sensitivity analysis provides information about which of the following?

Accepted Answer

Sensitivity analysis provides information about the impact of changes in the objective function coefficients, resource levels, and simple upper or lower bounds on decision variables. Thus, option D is the correct choice.

Question 13

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

Accepted Answer

The values in the Allowable Increase and Allowable Decrease columns do not equate the decision variable profit to the cost of resources expended, rather they give the range over which the value of the decision variable can increase or decrease without changing the optimal solution.

Question 14

Benefits of sensitivity analysis include all the following except:

Accepted Answer

Sensitivity analysis may not necessarily foster managerial acceptance of the optimal solution, as some managers may still have doubts or objections even after seeing the results of the analysis. However, sensitivity analysis can still provide valuable insights and address potential questions or concerns about the solution. Therefore, option B is the correct answer as it states an exception to the benefits of sensitivity analysis.

Question 15

Analytic Solver Platform provides sensitivity analysis information on all of the following except the

Accepted Answer

The answer of Analytic Solver Platform provides sensitivity analysis information...

Question 16

When performing sensitivity analysis,which of the following assumptions must apply?

Accepted Answer

When performing sensitivity analysis, the assumption that all other coefficients remain constant must apply. This allows for the analysis of the effect of changes in one variable on the overall model. The other options provided are not accurate assumptions for sensitivity analysis.

Question 17

The allowable decrease for a changing cell decision variable)is

Accepted Answer

The allowable decrease for a changing cell refers to the amount by which the objective function coefficient can decrease without changing the final optimal solution. This value represents the range within which the objective function coefficient can change without affecting the optimal solution.

Question 18

Binding constraints have

Accepted Answer

Binding constraints have zero slack, meaning that they are fully utilized and cannot be relaxed without affecting the feasibility of the solution.

Question 19

The coefficients in an LP model c_j,a_ij,b_j)represent

Accepted Answer

The coefficients in an LP model are numeric constants that represent the values of the decision variables, constraints, and objective function coefficients. They are not random variables or random constants, and their values are determined by the problem formulation. Therefore, B is the best choice.

Question 20

When a manager considers the effect of changes in an LP model's coefficients he/she is performing

Accepted Answer

When a manager considers the effect of changes in an LP model's coefficients, he/she is performing a sensitivity analysis. This type of analysis is used to determine how changes in certain variables, such as coefficients or constraints, affect the optimal solution. In this case, the manager would be evaluating the sensitivity of the solution to changes in the coefficients of the LP model. Options A, B, and D do not accurately describe this type of analysis.

Quiz 4: Sensitivity Analysis and the Simplex Method

The allowable decrease for a constraint is

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

The allowable increase for a constraint is

The allowable increase for a changing cell decision variable) is

The slope of the level curve for the objective function value can be changed by

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

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

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

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

Analytic Solver Platform provides all of the following reports except

The Cell Value column in the Solver Answer Report shows

The sensitivity analysis provides information about which of the following?

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

Benefits of sensitivity analysis include all the following except:

Analytic Solver Platform provides sensitivity analysis information on all of the following except the

When performing sensitivity analysis,which of the following assumptions must apply?

The allowable decrease for a changing cell decision variable) is

Binding constraints have

The coefficients in an LP model c_j,a_ij,b_j) represent

When a manager considers the effect of changes in an LP model's coefficients he/she is performing

Quiz 4: Sensitivity Analysis and the Simplex Method

The allowable decrease for a constraint is

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

The allowable increase for a constraint is

The allowable increase for a changing cell decision variable) is

The slope of the level curve for the objective function value can be changed by

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

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

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

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

Analytic Solver Platform provides all of the following reports except

The Cell Value column in the Solver Answer Report shows

The sensitivity analysis provides information about which of the following?

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

Benefits of sensitivity analysis include all the following except:

Analytic Solver Platform provides sensitivity analysis information on all of the following except the

When performing sensitivity analysis,which of the following assumptions must apply?

The allowable decrease for a changing cell decision variable) is

Binding constraints have

The coefficients in an LP model cj,aij,bj) represent

When a manager considers the effect of changes in an LP model's coefficients he/she is performing

The coefficients in an LP model c_j,a_ij,b_j) represent