Spreadsheet Modeling and Decision Analysis 7th Edition Test Bank

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View Sample Chapter Below:

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