Question: Sensitivity is used to measure the changes in the coefficients of the objective function A) Explain the concept and Implication of Sensitivity analysis. (5 Marks)

Sensitivity is used to measure the changes in the coefficients of the objective function

A) Explain the concept and Implication of Sensitivity analysis. (5 Marks)

B) Given that Slope of an objective function line, Max c1x1 + c2x2, is -c1/c2, and the slope of a constraint, a1x1 + a2x2 = b, is -a1/a2. Consider the following:

Objective function 2x1+ 4x2 =12

S.t X1+2X2 =6

4X1 +2X2=12

Calculate the range of optimality for C1 and C2 (6 Marks)

C) Differentiate between Relevant Cost and Sunk Cost with examples. (4 Marks)

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