The Reduced Cost for a Changing Cell Decision Variable)is

question 13

Multiple Choice

The reduced cost for a changing cell decision variable) is

• A)the amount by which the objective function value changes if the variable is increased by one unit.
• B)how many more units to product to maximize profits.
• C)the per unit profits minus the per unit costs for that variable.
• D)equal to zero for variables at their optimal values.

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Definitions:

Range

The difference between the highest and lowest values in a data set.

Coefficient of Variation

A normalized measure of dispersion of a probability distribution, calculated as the ratio of the standard deviation to the mean, usually expressed as a percentage.

Variability

The extent to which data points in a dataset differ from each other and from the mean of the dataset.

Standard Deviation

The statistical measurement that calculates the spread or dispersion of a dataset relative to its mean, providing insight into the concentration of data points.