Introduction to Management Science Question 1 A binding constraint means that th

Question

Introduction to Management Science

Question 1

A binding constraint means that the constraint is exactly satisfied, and its left-hand side does not equal its right-hand side.

True

False

6.67 points   

Question 2

Sensitivity analysis is analogous to postoptimality analysis

True

False

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Question 3

The Sensitivity Report has two parts: one part deals with objective function coefficient changes, and the other part deals with constraint coefficient changes.

True

False

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Question 4

A given constraint has 40 unused hours. The shadow price for this resource would most likely be zero.

True

False

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Question 5

The Sensitivity Report typically analyses the impact of simultaneous changes in the objective function coefficients and right-hand side constraint values on the optimal solution.

True

False

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Question 6

The information provided in the Sensitivity Report assumes that we are considering a change to only a single input data value.

True

False

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Question 7

Surplus is typically associated with which type of constraints?

=

±

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Question 8

925

825

100

92.5

none of these

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Question 9

The Reduced Cost may be viewed as the difference between the marginal contribution of a variable and the marginal value of the resources it consumes.

True

False

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Question 10

The slack values in the Answer Report can refer to either slack or surplus values based on the type of the inequality.

True

False

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Question 11

The presence of zeros in the Allowable Increase or Allowable decrease columns for objective function values indicates:

alternate optimal solution

unbounded solution

redundant constraint

infeasible solution

unique solution

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Question 12

The 100% Rule can be using to measure simultaneous changes in which of the following?

OFC values

RHS values

LHS values

both OFC values and RHS values

OFC values, RHS values, and LHS values

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Question 13

1 and 2

1 and 4

2 and 3

3 and 4

2 and 4

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Question 14

no change

a decrease of $100

an increase of $100

an increase of $200

an increase of $35

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Question 15

The slack of a constraint indicates the amount of a used resource.

True

False

=

±

Explanation / Answer

1. A binding constraint is a constraint used in linear programming equations whose value satisfies the optimal solution; any changes in its value changes the optimal solution. Once an optimal solution is obtained, managers can relax the binding constraint to improve the solution by improving the objective function value.

So the answer is False

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