1.Changes or estimation errors might occur in: 2. The Simplex method provides us
ID: 390378 • Letter: 1
Question
1.Changes or estimation errors might occur in:
2. The Simplex method provides us with information about the following:
3. The Answer Report includes:
4. A constraint is binding if:
5. The Sensitivity Report includes:
6. The shadow prices of resources:
a. The objective function coefficients (the cj). b. The constraint coefficients (the aij). c. The RHS values for the constraints (the bi). d. All of the above.2. The Simplex method provides us with information about the following:
a. The impact that changes in constraint variables will have on the feasible solution to the problem. b. The feasible solution range. c. The range of values the objective function coefficients can assume when changing the optimal solution. d. The impact on the optimal objective function value of increases or decreases in the availability of various constrained resource.3. The Answer Report includes:
a. A summary of the original and final (optimal) value of the objective cell and the decision variables. b. The list of shadow prices for the objective. c. The values of constraint RHS. d. Solution interpretation.4. A constraint is binding if:
a. The associated variable is slack. b. It is satisfied as a strict equality in the optimal solution. c. The associated resource is abundant. d. All constraints are named as alphanumeric strings.5. The Sensitivity Report includes:
a. Analysis of the changes in the objective function coefficients. b. Analysis of the changes in the RHS values. c. Analysis of the changes in the constraint coefficients. d. All of the above.6. The shadow prices of resources:
a. Provide information about associated variables. b. Do not provide information about associated constraints. c. Do not have value for a decision maker. d. Equate the marginal value of the resources consumed with the marginal benefit of the goods being produced.Explanation / Answer
1.
(d) Estimation errors can occur in any or all of cj, aij, and bi
2.
SIMPLEX shows
(d) The impact on the optimal objective function value of increases or decreases in the availability of the various constrained resources.
3.
Answer Report shows
(a) A summary of the original and final (optimal) value of the objective cell and the decision variables.
4.
(b) It is satisfied as a strict equality in the optimal solution because in that way the slack becomes zero and the constraint becomes binding.
5.
(d) All of the above.
While (a) and (b) can be directly obtained from the sensitivity report, (c) can be derived from knowing the reduced cost and shadow prices.
6.
(d) Equate the marginal value of the resources consumed with the marginal benefit of the goods being produced.
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