MANAGEMENT SCIENCE Range of Optimality The Range of Optimality expresses the ran

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MANAGEMENT SCIENCE

Range of Optimality

The Range of Optimality expresses the range for which the coefficient in the objective function can vary and still guarantee that the optimal solution coordinate point will remain optimal.

There is a Blackboard Collaborate Session that demonstrates the procedure to find the range of optimality. Please review this session as the 5-step procedure is not in the textbook. The lecture presents the steps for the range of optimality for the coefficient of x1 in the objective function for the RMC problem which is reproduced below.

For your post, calculate the range of optimality for the coefficient of x2 in the objective function for the RMC problem. Use the 5 step procedure below and the graph to assist your solution development.

Step 1: Find the slope of the objective function.

Step 2: Substitute an arbitrary coefficient for the coefficient of x2 in the objective function and find the slope

Step 3: Find the slope of the labor constraint and set it equal to the slope of the objective function found in step 2.

Step 4: Find the slope of the clay constraint and set it equal to the slope of the objective function found in step 2.

Step 5: Express and interpret the complete sensitivity range for the coefficient of x2 in the objective functions.

Explanation / Answer

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