Given an Objective Function Value of 150 and a Shadow

question 25

Multiple Choice

Given an objective function value of 150 and a shadow price for resource 1 of 5, if 10 more units of resource 1 are added (assuming the allowable increase is greater than 10) , what is the impact on the objective function value?

• A) increase of 50
• B) increase of unknown amount
• C) decrease of 50
• D) increase of 10

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Definitions:

SS(Total)

The total sum of squares in statistical analysis, a measure of the total variability within a dataset.

F-test

A statistical test used to compare two population variances and determine if they are significantly different.

T-test

A statistical analysis method that contrasts the average values of two groups to ascertain if their difference is statistically significant.

Analysis of Variance (ANOVA)

A statistical method used to compare the means of three or more samples to find out if at least one of the sample means is different from the others.