Sensitivity Analysis
- 1.
(2 pts. each)
- 2.
(1 pt. each)
- 3.
(1 pt. each)
- 4.
(5 pts. each)
- 5.
It is used to determine how the optimal solution is affected by changes, within specified ranges, in the _____
Correct Answer
objective function coefficients - 6.
It is used to determine how the optimal solution is affected by changes, within specified ranges, in the objective function coefficients and _____.
Correct Answer
the right-hand side values
RHS values - 7.
_____ is the study of how the uncertainty in the output of a mathematical model or system can be apportioned to different sources of uncertainty in its inputs.
Correct Answer
Sensitivity analysis - 8.
Purpose of sensitivity analysis are to analyze what really matters in the _____ and to construct a requisite decision model.
Correct Answer
decision problem - 9.
It is used to determine how the _____ is affected by changes
Correct Answer
optimal solution - 10.
For a nonbinding constraint, the shadow price will always equal zero.
- A.
True
- B.
False
Correct Answer
A. True -
- 11.
When analyzing simultaneous changes in parameter values, we need to first verify the 100% rule.
- A.
True
- B.
False
Correct Answer
A. True -
- 12.
If the 100% rule is violated, the information in the Sensitivity Report is always invalid.
- A.
True
- B.
False
Correct Answer
B. False -
- 13.
Sensitivity reports can be used to detect the presence of alternate optimal solutions.
- A.
True
- B.
False
Correct Answer
A. True -
- 14.
The reduced cost of a variable that has a value of zero in the current optimal solution will always be nonzero.
- A.
True
- B.
False
Correct Answer
B. False -
- 15.
The measure that shows the change in the optimal objective function value for a unit increase in a constraint RHS value is the
- A.
Allowable decrease.
- B.
Allowable increase.
- C.
Reduced cost.
- D.
Shadow price.
Correct Answer
D. Shadow price. -
- 16.
The measure that compares the marginal contribution of a variable with the marginal worth of the resources it consumes is the
- A.
Allowable increase.
- B.
Shadow price.
- C.
Allowable decrease.
- D.
Reduced cost.
Correct Answer
D. Reduced cost. -
- 17.
The measure that shows the change in the optimal objective function value if a product that is not currently produced is forced to be produced is the
- A.
Allowable increase.
- B.
Allowable decrease.
- C.
Reduced cost.
- D.
Shadow price.
Correct Answer
C. Reduced cost. -
- 18.
For a constraint, the Allowable Increase column in the Sensitivity Report shows
- A.
The allowable increase in the objective value.
- B.
The allowable increase in the shadow price.
- C.
The allowable increase in the RHS value of the constraint for which the current optimal corner point remains optimal.
Correct Answer
C. The allowable increase in the RHS value of the constraint for which the current optimal corner point remains optimal. -
- 19.
If the RHS value of a ≥ constraint increases, the optimal value of a maximization objective function can never
- A.
Decrease.
- B.
Stay the same.
- C.
Increase.
Correct Answer
C. Increase. -
- 20.
If we wish to increase a constraint RHS value beyond the allowable increase value shown in the Sensitivity Report, this means
- A.
Such a change should never be made.
- B.
There will no longer be a feasible solution for the problem.
- C.
The problem needs to be solved again to get a new Sensitivity Report.
- D.
The shadow price in the report is still valid.
Correct Answer
C. The problem needs to be solved again to get a new Sensitivity Report. -
- 21.
The pricing out procedure allows us to
- A.
Analyze the impact of the introduction of a new variable.
- B.
Analyze the impact of changes in the selling price of existing products.
- C.
Analyze simultaneous changes in parameter values.
- D.
Analyze the impact of changes in the cost of resources.
Correct Answer
A. Analyze the impact of the introduction of a new variable. -
- 22.
If the RHS value of a ≤ constraint decreases, the optimal value of a maximization objective function can never
- A.
Increase.
- B.
Decrease.
- C.
Stay the same.
Correct Answer
A. Increase. -
- 23.
Surplus refers to the
- A.
LHS value of a ≥ constraint.
- B.
RHS value of a ≥ constraint.
- C.
Difference between the LHS and RHS values of a ≤ constraint.
- D.
Difference between the LHS and RHS values of a ≥ constraint.
Correct Answer
D. Difference between the LHS and RHS values of a ≥ constraint. -
- 24.
If the objective function coefficient of a variable changes within its allowable range,
- A.
The current variable values and the objective value remain the same.
- B.
The current variable values remain the same, but the objective value changes.
- C.
The current variable values and the objective value change.
Correct Answer
A. The current variable values and the objective value remain the same. -
- 25.
Benefits of sensitivity analysis include all the following except:
- A.
Provides a better picture of how solutions change as model factors change.
- B.
Fosters managerial acceptance of the optimal solution.
- C.
Overcomes management skepticism of optimal solutions.
- D.
Answers potential managerial questions regarding the solution to an LP problem.
Correct Answer
B. Fosters managerial acceptance of the optimal solution. -
- 26.
Risk Solver Platform (RSP) provides sensitivity analysis information on all of the following except the
- A.
Range of values for objective function coefficients which do not change optimal solution.
- B.
Impact on optimal objective function value of changes in constrained resources.
- C.
Impact on optimal objective function value of changes in value of decision variables.
- D.
Impact on right hand sides of changes in constraint coefficients.
Correct Answer
D. Impact on right hand sides of changes in constraint coefficients. -
- 27.
The allowable increase for a changing cell (decision variable) is
- A.
How many more units to produce to maximize profits.
- B.
The amount by which the objective function coefficient can increase without changing theoptimal solution.
- C.
How much to charge to get the optimal solution.
- D.
The amount by which constraint coefficient can increase without changing the optimal solution.
Correct Answer
B. The amount by which the objective function coefficient can increase without changing theoptimal solution. -
- 28.
Which of the following statements is false concerning either of the Allowable Increase and Allowable Decrease columns in the Sensitivity Report?
- A.
The values equate the decision variable profit to the cost of resources expended.
- B.
The values give the range over which a shadow price is accurate.
- C.
The values give the range over which an objective function coefficient can change without changing the optimal solution.
- D.
The values provide a means to recognize when alternate optimal solution exist.
Correct Answer
A. The values equate the decision variable profit to the cost of resources expended. -
- 29.
When performing sensitivity analysis, which of the following assumptions must apply?
- A.
All other coefficients remain constant.
- B.
Only right hand side changes really mean anything.
- C.
The X1 variable change is the most important.
- D.
The non-negativity assumption can be relaxed
Correct Answer
A. All other coefficients remain constant. -
- 30.
Given an objective function value of 150 and a shadow price for resource 1 of 5, if 10 more units of resource 1 are added (assuming the allowable increase is greater than 10), what is the impact on the objective function value?
- A.
Increase of 50
- B.
Increase of unknown amount
- C.
Decrease of 50
- D.
Increase of 10
Correct Answer
A. Increase of 50 -
- 31.
The shadow price of a nonbinding constraint is
- A.
Positive
- B.
Zero
- C.
Negative
- D.
Indeterminate
Correct Answer
B. Zero -
- 32.
A change in the right hand side of a binding constraint may change all of the following except
- A.
Optimal value of the decision variables
- B.
Slack values
- C.
Other right hand sides
- D.
Objective function value
Correct Answer
C. Other right hand sides -
- 33.
All of the following are true about a variable with a negative reduced cost in a maximization problem except
- A.
Its objective function coefficient must increase by that amount in order to enter the basis.
- B.
It is at its simple lower bound.
- C.
It has surplus resources.
- D.
The objective function value will decrease by that value if the variable is increased by oneunit.
Correct Answer
C. It has surplus resources. -
- 34.
When a solution is degenerate the reduced costs for the changing cells
- A.
Is always equal to zero.
- B.
May not be unique.
- C.
May be set to any value the manager needs.
- D.
Is equal to infinity.
Correct Answer
B. May not be unique. -
- 35.
Given the following Risk Solver Platform (RSP) sensitivity output how much does the objective function coefficient for X2 have to increase before it enters the optimal solution at a strictly positive value?
- A.
899.99
- B.
1050
- C.
500.01
- D.
375.01
Correct Answer
C. 500.01 -
- 36.
What is the optimal objective function value if X1 is at its lower limit in the following Risk Solver Platform (RSP) sensitivity output?
- A.
14
- B.
17
- C.
15
- D.
16
Correct Answer
D. 16 -
- 37.
What are the objective function coefficients for X1 and X2 based on the following Risk Solver Platform (RSP) sensitivity output?
- A.
X1 = 8, X2 = 5
- B.
X1 = 7, X2 = 4
- C.
X1 = 6, X2 = 3
- D.
X1 = 5, X2 = 2
Correct Answer
B. X1 = 7, X2 = 4 -
.png "Given the following Risk Solver Platform (RSP) sensitivity output how much does the objective function coefficient for X2 have to increase before it enters the optimal solution at a strictly positive value?")
.png "What is the optimal objective function value if X1 is at its lower limit in the following Risk Solver Platform (RSP) sensitivity output?")
.png "What are the objective function coefficients for X1 and X2 based on the following Risk Solver Platform (RSP) sensitivity output?")
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Aug 25, 2014Quiz Edited by
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Aug 24, 2014Quiz Created by
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