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BUSOBA 2321 FINAL QUESTIONS AND ANSWER2.d

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BUSOBA 2321 FINAL QUESTIONS AND ANSWER2.d

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BUSOBA 2321 FINAL QUESTIONS AND
ANSWERS




What84question84are84we84trying84to84answer84when84performing84sensitivity84analysis?
84-84answer--
How84sensitive84is84our84solution84to84changes84in84the84assumptions84that84we84made?

T84or84F:84The84optimal84solution84will84not84always84be84at84a84corner84point84-
84answer--False84-
84it84always84will84be84since84this84is84where84two84constraints84are84maxed84out84-
84more84resources84=84more84production84=84more84optimal


T84or84F:84The84assumptions84made84in84our84linear84program84formulation84(i.e.84how84
much84profit84we84will84be84able84to84make84per84unit84of84a84particular84product)84may84
change84based84on84market84conditions84-84which84we84do84not84have84control84over.84-
84answer--True


Define84shadow84price84-84answer--
The84change84in84the84OBJ84FN84value84if84we84increase84one84constraint84by84one84uni
t.

By84solving84for84the84shadow84price84of84a84constrained84resource,84what84question84ar
e84we84answering?84-84answer--
If84we84have84a84additional84unit84of84the84constrained84resource84available,84how84muc
h84could84our84OBJ84FN84value84increase84by?

How84do84we84know84if84the84addition84of84a84constraing84will84result84in84the84OBJ84FN8
4value84increases,84staying84the84same,84or84decreasing?84-84answer--
An84additional84constraint84will84never84increase84the84OBJ84FN84VAL.

If84the84constraint84is84redundant84(i.e.84it84is84already84being84adhered84too;84there84is84
another84constraint84that84is84more84restrictive84than84this84new84constraint),84our84OBJ8
4FN84val84wiull84remain84the84same84-84the84feasible84region84will84not84change.


If84it84is84not84redundant84(is84not84already84being84adhered84to84-
84the84addition84of84this84constraint84decreases84our84feasible84region),84our84OBJ84FN84
val84will84decrease

, What84are84the84two84sections84of84a84sensitivity84report?84-84answer--
1.84adjustable84cells
2.84constraints

For84what84type84of84constraint84(what84sign)84might84slack84exist?84-84answer--
maximums;
<

For84what84type84of84constraint84(what84sign)84might84surplus84exist?84-84answer--
Minimums
>

Why84might84the84allowable84increase84of84a84constraint84be84infinite?84-84answer--
If84slack84already84exists84-
84if84we84already84aren't84using84up84all84of84what84we84currently84have84available,84we84
will84never84gain84anything84by84increasing84the84availability84of84the84resource.

Why84might84the84allowable84decrease84of84a84constraint84be84infinite?84-84answer--
if84a84surplus84already84exists84-
84no84matter84how84much84the84RHS84of84the84constraint84decreased,84no84additional84v
alue84would84be84added84because84we84are84already84above84the84current84minimum84-
84making84the84minimum84lower84would84not84help84us.


If84surplus84exists,84what84is84the84allowable84increase84for84the84constraint?84-
84answer--the84amount84of84the84surplus


if84the84minimum84increases84to84our84current84amount84of84production,84the84constraint8
4will84then84be84binding84and84thus84the84shadow84price84will84become84a84non-
zero84value

If84surplus84exists,84what84is84the84allowable84decrease84for84the84constraint?84-
84answer--infinity


If84slack84exists,84what84is84the84allowable84increase84for84the84constraint?84-84answer--
infinity

If84slack84exists,84what84is84the84allowable84decrease84for84the84constraint?84-84answer--
the84amount84of84the84slack


decreasing84by84this84amount84will84mean84that84we84would84be84using84all84of84the84res
ource84-84it84would84then84be84binding84and84the84shadow84price84woudl84change

When84a84constraint84is84binding,84the84shadow84price84is84-84answer--a84non-
zero84value

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