An Analyst, Having Solved a Linear Programming Problem, Determined That

question 87

Multiple Choice

An analyst, having solved a linear programming problem, determined that he had 10 more units of resource Q than previously believed. Upon modifying his program, he observed that the list of basic variables did not change, but the value of the objective function increased by $30. This means that resource's Q's shadow price was

• A)$1.50.
• B)$3.00.
• C)$6.00.
• D)$15.00.
• E)$30.00.

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Definitions:

Years

Units of time that represent the period it takes for the Earth to complete one orbit around the Sun, approximately 365 or 366 days.

P-value

A statistical measure that helps determine the significance of results, quantifying the probability of observing the data, or something more extreme, if the null hypothesis is true.

Simple Linear Regression

A statistical method for modelling the relationship between a single independent variable and a dependent variable by fitting a linear equation to observed data.

Hypotheses

Proposed explanations or predictions for phenomena or relationships in research that can be tested through experimentation and observation.