Spreadsheet Modeling and Decision Analysis 7th Edition Test Bank
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1.
When a manager
considers the effect of changes in an LP model’s coefficients he/she is
performing
1. a random
2. a coefficient
3. a sensitivity
4. a qualitative
ANSWER: c
2. The coefficients in an LP model (cj, aij, bj)
represent
1. random
2. numeric
3. random
4. numeric
ANSWER: b
3. A manager should consider how sensitive the
model is to changes in all of the following except
1. differential
2. objective function
3. constraint
4. right-hand side values for
ANSWER: a
4. Benefits of sensitivity analysis include all
the following except:
1. provides a better picture of how solutions
change as model factors
2. fosters managerial acceptance of the optimal
3. overcomes management skepticism of optimal
4. answers potential managerial questions
regarding the solution to an LP
ANSWER: b
5. Analytic Solver Platform provides sensitivity
analysis information on all of the following except the
1. range of values for objective function coefficients
which do not change optimal
2. impact on optimal objective function value of
changes in constrained
3. impact on optimal objective function value of
changes in value of decision
4. impact on right hand sides of changes in
constraint
ANSWER: d
6.
The sensitivity
analysis provides information about which of the following?
1. the impact of a change to an objective
function
2. the impact of a change in a resource
3. the impact of adding simple upper or lower
bounds on a decision
4. all of
ANSWER: d
7. Analytic Solver Platform provides all of the
following reports except
1. Answer
2. Sensitivity
3. Cost performance
4. Limits
ANSWER: c
8. The Cell Value column in the Solver Answer
Report shows
1. which constraints are
2. final (optimal) value assumed by each
constraint
3. objective function
4. Right hand sides of
ANSWER: b
9. Meaningful Analytic Solver Platform (ASP)
sensitivity report headings can be defined
1. by adding cell notes to spreadsheet
2. by using the Guess button in the Analytic
Solver Platform (ASP) dialog
3. by carefully labeling rows and columns in the
spreadsheet
4. naming cells in the spreadsheet
ANSWER: c
10. The difference between the right-hand side
(RHS) values of the constraints and the final (optimal) value assumed by the
left-hand side (LHS) formula for each constraint is called the slack and is
found in the
1. Status report
2. Slack report
3. Results report
4. Cell Value report
ANSWER: c
11. A binding greater than or equal to (≥)
constraint in a minimization problem means that
1. the variable is up against an upper
2. the minimum requirement for the constraint has
just been
3. another constraint is limiting the
4. the shadow price for the constraint will be
ANSWER: b
12. A binding less than or equal to (≤) constraint
in a maximization problem means
1. that all of the resource represented by the
constraint is consumed in the
2. it is not a constraint that the level curve
3. another constraint is limiting the
4. the requirement for the constraint has been
ANSWER: a
13. Binding constraints have
1. zero
2. negative
3. positive
4. surplus
ANSWER: a
14. The slope of the level curve for the objective
function value can be changed by
1. increasing the value of the decision
2. doubling all the coefficients in the objective
3. increasing the right hand sides of
4. changing a coefficient in the objective
ANSWER: d
15. The allowable increase for a changing cell
(decision variable) is
1. how many more units to produce to maximize
2. the amount by which the objective function
coefficient can increase without changing the optimal
3. how much to charge to get the optimal
4. the amount by which constraint coefficient can
increase without changing the optimal
ANSWER: b
16. The allowable decrease for a changing cell
(decision variable) is
1. the amount by which the constraint coefficient
can decrease without changing final optimal
2. an indication of how many more units to
produce to maximize
3. the amount by which objective function
coefficient can decrease without changing the final optimal
4. an indication of how much to charge to get the
optimal
ANSWER: c
17. Which of the following statements is false
concerning either of the Allowable Increase and Allowable Decrease columns in
the Sensitivity Report?
1. The values equate the decision variable profit
to the cost of resources
2. The values give the range over which a shadow
price is
3. The values give the range over which an
objective function coefficient can change without changing the optimal
4. The values provide a means to recognize when
alternate optimal solution
ANSWER: a
18. The allowable increase for a constraint is
1. how many more units of resource to purchase to
maximize
2. the amount by which the resource can increase
given shadow
3. how much resource to use to get the optimal
4. the amount by which the constraint coefficient
can increase without changing the final optimal
ANSWER: b
19. The allowable decrease for a constraint is
1. how many more units of resource to purchase to
maximize
2. the amount by which the resource can decrease
given shadow
3. how much resource to use to get the optimal
4. the amount by which constraint coefficient can
increase without changing the final optimal
ANSWER: b
20. When performing sensitivity analysis, which of
the following assumptions must apply?
1. All other coefficients remain
2. Only right hand side changes really mean
3. The X1 variable change is the most
4. The non-negativity assumption can be relaxed
ANSWER: a
21. 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?
1. increase of 50
2. increase of unknown amount
3. decrease of 50
4. increase of 10
ANSWER: a
22. If the allowable increase for a constraint is
100 and we add 110 units of the resource what happens to the objective function
value?
1. increase of 100
2. increase of 110
3. decrease of 100
4. increases but by unknown amount
ANSWER: d
23. The shadow price of a nonbinding constraint is
1. positive
2. zero
3. negative
4. indeterminate
ANSWER: b
24. If the shadow price for a resource is 0 and
150 units of the resource are added what happens to the objective function
value?
1. increase of 150
2. increases more than 0 but less than 150
3. no change
4. increases but by an unknown amount
ANSWER: c
25. If the shadow price for a resource is 0 and
150 units of the resource are added what happens to the optimal solution?
1. increases by an unknown amount
2. increases more than 0 but less than 150
3. no change
4. decreases by an unknown amount
ANSWER: c
26. A change in the right hand side of a binding
constraint may change all of the following except
1. optimal value of the decision variables
2. slack values
3. other right hand sides
4. objective function value
ANSWER: c
27. A change in the right hand side of a
constraint changes
1. the slope of the objective function
2. objective function coefficients
3. other right hand sides
4. the feasible region
ANSWER: d
28. The absolute value of the shadow price
indicates the amount by which the objective function will be
1. improved if the corresponding constraint is
2. improved if the corresponding constraint is
3. made worse if the corresponding constraint is
4. improved if the corresponding constraint is
ANSWER: a
29. The reduced cost for a changing cell (decision
variable) is
1. the amount by which the objective function
value changes if the variable is increased by one
2. how many more units to product to maximize
3. the per unit profits minus the per unit costs
for that
4. equal to zero for variables at their optimal
ANSWER: c
30. All of the following are true about a variable
with a negative reduced cost in a maximization problem except
1. its objective function coefficient must
increase by that amount in order to enter the
2. it is at its simple lower
3. it has surplus
4. the objective function value will decrease by
that value if the variable is increased by one
ANSWER: c
31. A variable with a final value equal to its
simple lower or upper bound and a reduced cost of zero indicates that
1. an alternate optimal solution
2. an error in formulation has been
3. the right hand sides should be
4. the objective function needs new
ANSWER: a
32. For a minimization problem, if a decision
variable’s final value is 0, and its reduced cost is negative, which of the
following is true?
1. Alternate optimal solutions
2. There is evidence of
3. No feasible solution was
4. The variable has a non-negativity
ANSWER: d
33. What is the value of the objective function if
X1 is set to 0 in the following Limits Report?
|
|
Target
|
|
|
Cell
|
Name
|
Value
|
|
$E$5
|
Unit profit: Total
Profit:
|
3200
|
Adjustable
Lower Target
Upper Target
Cell
Name
Value
Limit
Result
Limit
Result
$B$4
Number to make: X1
80
0
800
79.99999999 3200
$C$4
Number to make: X2
20
0
2400
20 3200
1. 80 800
2. c. 2400
3. 3200
ANSWER: b
34. When the allowable increase or allowable
decrease for the objective function coefficient of one or more variables is
zero it indicates (in the absence of degeneracy) that
1. the problem is
2. alternate optimal solutions
3. there is only one optimal
4. no optimal solution can be
ANSWER: b
35. To convert ≤ constraints into = constraints
the Simplex method adds what type of variable to the constraint?
1. slack
2. dummy
3. redundant
4. spreading
ANSWER: a
36. The solution to an LP problem is degenerate if
1. the right hand sides of any of the constraints
have an allowable increase or allowable decrease of
2. the shadow prices of any of the constraints
have an allowable increase or allowable decrease of
3. the objective coefficients of any of the
variables have an allowable increase or allowable decrease of
4. the shadow prices of any of the constraints
have an allowable increase or allowable decrease of
ANSWER: a
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