Model concept.odt - Slack variable A variable added to the...

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Slack variableA variable added to the LH side of constraint to convert the constraint into an equality. The value is interpreted as the amount of unused resource.Surplus variableA variable subtracted from the left-hand side of constraint to convert the constraint into an equality. The value is interpreted as the amount over and above some required minimum level.Binding constraints: have no slack or surplus Objective function coefficient allowable increase (decrease) the amount the coefficient may increase (decrease) without causing any change in the values of the decision variables in the optimal solution. Used to calculate the range of optimality. Objective coefficient range (range of optimality) The range of values over which an objective function coefficient may vary without causing any change in the values of the decision variables in the optimal solution.Shadow pricemarginal value of the optimal objective function value in respond to the RH side of a constraint. If increase

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