The slack value for binding constraints is: a. always a positive integer. b. zero. c. a negative integer. d. equal to the sum of the optimal points in the solution. The outcome of a simulation experiment is a(n) a. objective function. b. probability distribution for one or more output measures. c. single number. d. what-if scenario. (SEE ATTACHMENT FOR TABLE) Reference - 12.1: Use the payoff table given below for a maximization problem to answer questions. Reference - 12.1: Which is the recommended decision alternative using the conservative approach? a. D1 b. D5 c. D2 d. D3

Each of the constraints has a stated slack or surplus value. When there are less or equal constraints, it is said that there is "slack," and when there are more constraints, it is said that there is "surplus." The matching slack or surplus value will be equal to zero if a constraint is binding.

What is meant by positive slack value?

Total slack, if positive, is the length of time a work can be put off without pushing back the project's completion deadline.

1. A binding constraint's slack value is always zero (0).

2, A "what-if" scenario is the product of a simulation experiment. This basically refers to the examination of information that could characterize or represent a prospective decision option.

3. The maximin decision criteria are used to make cautious decisions. It enables a decision-maker to weigh the worst-case possibilities for each alternative and then choose the best one from those. The "best" results in the example are 1, 5, -4, -3, 2, and 4 for each alternative. With a payout of 5, D-2 is the greatest choice in this situation.

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