The Reduced Cost for a Decision Variable That Appears in a Sensitivity

question 28

Multiple Choice

The reduced cost for a decision variable that appears in a Sensitivity Report refers to the __________ of the nonnegativity constraint for that variable.

• A)range of optimality
• B)slack value
• C)shadow price
• D)range of feasibility

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Definitions:

Approximate Normal

Describes data or distributions that are nearly, but not perfectly, normally distributed, exhibiting characteristics close to that of a bell-shaped curve.

Mean

The sum of values in a data set divided by the number of values, representing the central point of the data set.

Cyclical

Describes phenomena that occur in predictable patterns or cycles, often used in economic contexts to describe fluctuations in the business cycle.

Wavelike Pattern

A pattern characterized by oscillations or undulations reminiscent of the movement of waves, typically seen in contexts like physics, economics, and nature.