9/9/2017 S-Glossary

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Interactive OM algorithm a procedure that always results in an optimum solution if the input data conform to the requirements for a mathematical model of this class.
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binding constraint a constraint which forms the optimal corner point of the feasible solution space.
Chapter 6 constraint a linear function of the decision variables that defines boundaries for the feasible space; a constraint could be an inequality of either the less-than-or-equal-to (<)
News, Articles & Links or the greater-than-or equal-to (>) type, or else an equality (=).
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PowerWeb Articles continuous variable a variable that is not restricted to integer or discrete values.
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Quizzes corner point a corner point of the feasible space occurs whenever two linear constraints intersect on the boundary of the feasible region.
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True or False decision variable a variable whose value can be set by a decision maker.
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Interactive Exercises feasible solution the set of all feasible combinations of decision variables as defined by the constraints.
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graphical linear a graphical method for finding optimal solutions to two-variable problems.
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S-Multiple Choice Quiz
S-True or False heuristic a procedure for solving a mathematical model that is not always guaranteed to result in the best possible solution.
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S-Glossary linear function a mathematical function of the form m = ax + by + cz + ..., where a, b, c, etc. are constants, x, y. z, etc. are variables; and m could be either a constant or a
S-Self Quiz from CD variable.

linear programming an procedure for finding the values of decision variables, that results in the best solution of an optimization problem with linear constraints and a linear objective
(LP) function.

maximization a requirement that at the optimum, the objective function shall be at its highest value, within the feasible space.

minimization a requirement that at the optimum, the objective function shall be at its lowest possible value, within the feasible space.

nonnegativity all decision variables and all slack variables are required to be > 0.

objective function a linear function of the decision variables, that is either maximized or minimized by the LP solution.

optimal solution the best feasible solution, i. e., the values of the decision (and slack or surplus) variables that either maximize or minimize the value of the objective function.

parameters constants in an equation.

range of feasibility the range over which the righthand side value of a constraint can change without changing its shadow price.

range of optimality the range over which the value of an objective function coefficient can change and not change the optimal solution.

redundant constraint a constraint that does not form a boundary of the feasible solution space.

sensitivity analysis an extension of simplex used to assess the impact of a change in the value of an objective function coefficient or a change in the right-hand-side value of a
constraint.

shadow price for a constraint, the amount that the value of the objective function would change if the RHS value of the constraint was changed by one unit.

simplex method the algorithmic procedure for finding the optimal solution of an LP problem.

simultaneous finding the coordinates of the point at which two straight lines intersect.
solution

slack when the values of decision variables are substituted into a constraint and the resulting value is less than the righthand side.

solution a set of decision variables, and their respective values.

surplus when the values of decision variables are substituted into a constraint and the resulting value is greater than the righthand side.

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