question
Allowable Increase/Decrease
answer
as long as the value stays within the allowable increase and decrease range the optimal solution will not change
question
range of optimality
answer
the range between the allowable increase/ decrease
question
**sensitivity analysis info is based on the assumption..
answer
that you are only changing one objective coefficient at a time.. if you do more than that then have to plug it back in and resolve
question
shadow price measures
answer
change in the value of the optimal solution
question
what will happen if objective function coefficient for variable 1 decreases by 20
lower limit-60
upper limit-120
current value- 100
lower limit-60
upper limit-120
current value- 100
answer
The value of the objective function will change, but the value of the decision variables and shadow price will remain the same
question
reduced cost
answer
equal to the shadow price for the nonnegativity constraint associated with the variable.
ex: if reduced cost is -45 then the company would have to decrease the objective coefficient associated with it by at least $45 before it would be profitable.
ex: if reduced cost is -45 then the company would have to decrease the objective coefficient associated with it by at least $45 before it would be profitable.
question
reduced cost
answer
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
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