QUANTITATIVE PROFICIENCY TEST
WORLDQUANT UNIVERSITY UPDATED
2024 WITH COMPLETE SOLUTION TEST
BANK COLLECTION 2026 COMPLETE
SOLUTIONS GRADED A+
⩥ The dual (shadow) price measures, per unit increase in the right hand
side of the constraint. Answer: the change in the value of the optimal
solution.
⩥ The amount the objective function coefficient of a decision variable
would have to improve before that variable would have a positive value
in the solution is the. Answer: reduced cost.
⩥ The amount by which an objective function coefficient can change
before a different set of values for the decision variables becomes
optimal is the. Answer: range of optimality.
⩥ Sensitivity analysis information in computer output is based on the
assumption of. Answer: one coefficient changes.
⩥ In order to tell the impact of a change in a constraint coefficient, the
change must be made and then the model resolved.. Answer: True
, ⩥ If the range of feasibility indicates that the original amount of a
resource, which was 20, can increase by 5, then the amount of the
resource can increase to 25.. Answer: True
⩥ The reduced cost for a positive decision variable is 0.. Answer: True
⩥ A mutual fund manager must decide how much money to invest in
Atlantic Oil (A) and how much to invest in Pacific Oil (P). At least 60%
of the money invested in the two oil companies must be in Pacific Oil. A
correct modeling of this constraint is. Answer: -0.6A + 0.4P > 0.
⩥ Data collection for large-scale LP models can be more time-
consuming than either the formulation of the model or the development
of the computer solution.. Answer: True
⩥ A company makes two products from steel; one requires 2 tons of
steel and the other requires 3 tons. There are 100 tons of steel available
daily. A constraint on daily production could be written as: 2x1 + 3x2 ≤
100.. Answer: True
⩥ A company makes two products, A and B. A sells for $100 and B sells
for $90. The variable production costs are $30 per unit for A and $25 for
B. The company's objective could be written as: MAX 190x1 − 55x2..
Answer: False
WORLDQUANT UNIVERSITY UPDATED
2024 WITH COMPLETE SOLUTION TEST
BANK COLLECTION 2026 COMPLETE
SOLUTIONS GRADED A+
⩥ The dual (shadow) price measures, per unit increase in the right hand
side of the constraint. Answer: the change in the value of the optimal
solution.
⩥ The amount the objective function coefficient of a decision variable
would have to improve before that variable would have a positive value
in the solution is the. Answer: reduced cost.
⩥ The amount by which an objective function coefficient can change
before a different set of values for the decision variables becomes
optimal is the. Answer: range of optimality.
⩥ Sensitivity analysis information in computer output is based on the
assumption of. Answer: one coefficient changes.
⩥ In order to tell the impact of a change in a constraint coefficient, the
change must be made and then the model resolved.. Answer: True
, ⩥ If the range of feasibility indicates that the original amount of a
resource, which was 20, can increase by 5, then the amount of the
resource can increase to 25.. Answer: True
⩥ The reduced cost for a positive decision variable is 0.. Answer: True
⩥ A mutual fund manager must decide how much money to invest in
Atlantic Oil (A) and how much to invest in Pacific Oil (P). At least 60%
of the money invested in the two oil companies must be in Pacific Oil. A
correct modeling of this constraint is. Answer: -0.6A + 0.4P > 0.
⩥ Data collection for large-scale LP models can be more time-
consuming than either the formulation of the model or the development
of the computer solution.. Answer: True
⩥ A company makes two products from steel; one requires 2 tons of
steel and the other requires 3 tons. There are 100 tons of steel available
daily. A constraint on daily production could be written as: 2x1 + 3x2 ≤
100.. Answer: True
⩥ A company makes two products, A and B. A sells for $100 and B sells
for $90. The variable production costs are $30 per unit for A and $25 for
B. The company's objective could be written as: MAX 190x1 − 55x2..
Answer: False
