QMB 3602 Module 8 Exam Questions
With 100% Verified Answers
An optimal solution is only optimal with respect to a particular
mathematical model that provides only a representation of the
actual problem. -
correct answer ✅True
The purpose of a linear programming study is to help guide
management's final decision by providing insights. -
correct answer ✅True
It is usually quite easy to find the needed data for a linear
programming study. -
correct answer ✅False
If the optimal solution will remain the same over a wide range of
values for a particular coefficient in the objective function, then
management will want to take special care to narrow this estimate
down. -
correct answer ✅False
Shadow price analysis is widely used to help management find the
best trade-off between costs and benefits for a problem. -
correct answer ✅True
, QMB 3602 Module 8 Exam Questions
With 100% Verified Answers
When certain parameters of a model represent managerial policy
decisions, what-if analysis provides information about what the
impact would be of altering these policy decisions. -
correct answer ✅True
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.
With 100% Verified Answers
An optimal solution is only optimal with respect to a particular
mathematical model that provides only a representation of the
actual problem. -
correct answer ✅True
The purpose of a linear programming study is to help guide
management's final decision by providing insights. -
correct answer ✅True
It is usually quite easy to find the needed data for a linear
programming study. -
correct answer ✅False
If the optimal solution will remain the same over a wide range of
values for a particular coefficient in the objective function, then
management will want to take special care to narrow this estimate
down. -
correct answer ✅False
Shadow price analysis is widely used to help management find the
best trade-off between costs and benefits for a problem. -
correct answer ✅True
, QMB 3602 Module 8 Exam Questions
With 100% Verified Answers
When certain parameters of a model represent managerial policy
decisions, what-if analysis provides information about what the
impact would be of altering these policy decisions. -
correct answer ✅True
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.
