DSIMGTS Exam (2023/24) || All Questions & Answers (100% Verified)
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DSIMGTS
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DSIMGTS
DSIMGTS Exam (2023/24) || All Questions & Answers (100% Verified)
DSIMGTS Exam (2023/24) || All Questions & Answers (100% Verified)
What-if analysis - ANSWER - it involves addressing some questions about whatwould happen to Page 152the optimal solution if different assumptions were made about f...
DSIMGTS Exam (2023/24) || All
Questions & Answers (100% Verified)
What-if analysis - ANSWER - it involves addressing some questions about whatwould
happen to Page 152the optimal solution if different assumptions were made about
future conditions
Parameters of the model - ANSWER - the numbers that should go into the data cells for
the spreadsheet formulation of the linear programming model
Benefit of What-if analysis - ANSWER - 1. reveals how close each of these estimates
needs to be to avoid obtaining an erroneous optimal solution, and therefore pinpoints
the sensitive parameters
2. If conditions change after the study has been completed, what-if analysis leaves
signposts that indicate whether a resulting change in a parameter of the model changes
the optimal solution.
3. When certain parameters of the model represent managerial policy decisions, what-if
analysis provides valuable guidance to management regarding the impact of altering
these policy decisions.
Sensitive Parameters - ANSWER - parameters where extra care is needed to refine
their estimates because even small changes in their values can change the optimal
solution
Right-hand sides of the functional constraints - ANSWER - these are the numbers that
typically are in the right-hand column of the spreadsheet just to the right of the ≤, ≥, or =
signs
If the optimal product mix is unchanged, then there is no need to solve the model again
with the new coefficient - ANSWER - true
Sensitivity Analysis - ANSWER - study on how changes in the parameters of a linear
programming model affect the optimal solution.
Managerial policy decisions involving right-hand sides frequently are interrelated, so
changes in these decisions should be considered simultaneously. - ANSWER - True
Shadow Price - ANSWER - rate of change in the profit for increases or decreases in the
right-hand side of a constraint;
reveals the relationship between profit and the amount of production time made
available in the plants.
,Chance Constraints - ANSWER - requires that the original constraint will be satisfied
with some very high probability while leaving a small chance that it will be violated a
little bit.
allowable range for an objective function coefficient - ANSWER - The range of values
for a particular coefficient in the objective function over which the optimal solution for the
original model remains optimal.
allowable range for the right-hand side of a functional constraint - ANSWER - the range
of values for this right-hand side over which this constraint's shadow price remains valid.
many of the parameters of a linear programming model typically are only estimates of
quantities that cannot be determined precisely at the time. - ANSWER - true
Decision Value - ANSWER - Units Produced or whatever is the changing cell
The 100 Percent Rule for Simultaneous Changes in Objective Function Coefficients -
ANSWER - If simultaneous changes are made in the coefficients of the objective
function, calculate for each change the percentage of the allowable change (increase or
decrease) for that coefficient to remain within its allowable range. If the sum of the
percentage changes does not exceed 100 percent, the original optimal solution
definitely will still be optimal.
The 100 Percent Rule for Simultaneous Changes in Right-Hand Sides - ANSWER -
Shadow prices remain valid for predicting the effect of simultaneously changing the
right-hand sides of some of the functional constraints as long as the changes are not
too large. If the sum of the percentage changes does not exceed 100 percent, the
shadow prices definitely will still be valid.
Soft Constraints - ANSWER - can be violated a little bit without serious complications
Hard Constraints - ANSWER - Constraint that must be satisfied
Robust optimization - ANSWER - an optimization with a goal to find a solution for the
model that is guaranteed feasible and near optimal for all plausible combinations of the
actual values of the parameter
Robust Solution - ANSWER - solution found using robust optimization
Range of Uncertainty - ANSWER - Constant of a parameter; can take any value
between the minimum and maximum; all constraints are in inequality sign
Reduced Cost - ANSWER - (negative number) any additional item, instead of its
production adding to your profit, it will reduce your profit
, three approaches to investigating simultaneous changes in coefficients - ANSWER - (1)
try out changes directly on a spreadsheet
(2) use a two-way parameter analysis report and
(3) apply the 100 percent rule.
This 100 percent rule reveals whether the simultaneous changes in the right-hand sides
are small enough to guarantee that the shadow prices are still valid. - ANSWER - True
With simultaneous changes in the right-hand sides, we focus for each change on the
percentage of the allowable decrease or increase that is being used. - ANSWER - True
uniform distribution. - ANSWER -
Generally, robust optimization yields a more conservative solution than when using
chance constraints with uniform distributions. - ANSWER - True
Independet parameter - ANSWER - Parameters whose values are uninfluenced by the
values taken on by the other parameters.
Parameter Cell - ANSWER - A data cell containing a parameter that will be
systematically varied when generating a parameter analysis report
parameters of the model - ANSWER - The parameters of a linear programming model
are the constants (coefficients or right-hand sides) in the functional constraints and the
objective function.
network - ANSWER - can be defined as a system with a number of componentswhere
there are direct connections between various pairs of components; Transportation,
electrical, and communication
Connections - ANSWER - Physical (wires), Diagram of locations; used to identify direct
relationships between components
a network representation provides such a powerful visual and conceptual aid for
portraying the relationships between the components of systems that it is used in
virtually every field of scientific, social, and economic endeavor. - ANSWER - true
both transportation problems and assignment problems are simple types of network
optimization problems and a special type of linear programming problems. - ANSWER -
true
minimum-cost flow problem - ANSWER - problem that involves minimizing the cost of
shipping goods through a distribution network
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