Is it possible to determine the new objective function value if the profit on product 1 increases by a dollar, or do you have to rerun Solver?

A. Yes, it can be calculated manually without rerunning Solver.
B. No, rerunning Solver is necessary to obtain the new objective function value.
C. It depends on the complexity of the optimization problem.
D. Both A and B.

Question

25-05-2024
Business

High School

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Is it possible to determine the new objective function value if the profit on product 1 increases by a dollar, or do you have to rerun Solver?

A. Yes, it can be calculated manually without rerunning Solver.
B. No, rerunning Solver is necessary to obtain the new objective function value.
C. It depends on the complexity of the optimization problem.
D. Both A and B.

Answer :

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vermapragya200023 vermapragya200023 · Answer 1 · 2024-12-06T16:37:10-05:00

Final answer:

The correct answer is a) Yes,You can calculate the new objective function value without rerunning Solver when the profit on product 1 increases by a dollar. Manual adjustments can be made to determine the impact on the objective function.

Explanation:

The new objective function value can be calculated manually without rerunning Solver if the profit on product 1 increases by a dollar. This is because the impact of a dollar increase in profit on the objective function value can be determined by performing the necessary calculations based on the optimization problem's equations.

Solver is not required to be rerun for this specific type of change in the profit on product 1. By manually adjusting the profit value and recalculating the objective function, you can determine the new value without the need to run Solver again.

Excel's Solver program aids in understanding changes related to constraints in optimization problems and enables users to analyze scenarios efficiently, which include alterations in profit values contributing to objective function changes.