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QMB 3602 FINAL EXAMS PASSED ALREADY WITH A+ (LATEST UPDATE)
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QMB 3602 FINAL EXAMS PASSED ALREADY WITH A+(LATEST UPDATE)
which of the following represents the marginal gain in the objective value that would
occur if one more unit of a resource were added? - (correct answer) shadow price
the process of determining the effect of changing objective function coefficients, right
hand side values of constraints, and decision variable values on a linear program is
known as - (correct answer) what-if analysis
For a problem with two decision variables, which of the following statements about
what-if analysis is true?
I. What if analysis can be done graphically
II. Solver will generate reports to assist with what if analysis
III. Shadow prices will not be valid with only two decision variables - (correct answer)
Only I and II are true
A parameter in a linear programming problem is said to be "sensitive" when - (correct
answer) small changes in the parameter lead to changes in the optimal solution
If the objective function coefficient for a product is increased to a value above the
allowable increase - (correct answer) the optimal solution would change
and
the product would enter the solution (final value of the variable product would be greater
than zero)
if the objective function coefficient for a product decreased within the allowable range -
(correct answer) the optimal objective function value would stay the same
in robust optimization, a constraint that cannot be violated is known as a - (correct
answer) hard constraint
to determine if an increase in an objective function coefficient will lead to a change in
final values for decision variables, an analyst can do which of the following?
I. Compare the increase in the objective function coefficient to the allowable decrease
II. Compare the increase in the objective function coefficient to the allowable increase
III. Rerun the optimization to see if the final values change - (correct answer) II. and
III. only
the allowable range for an objective function coefficient assumes that the original
estimates for all the other coefficients are completely accurate so that this is the only
one whose true value may differ from its original estimate - (correct answer) true
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