1. The process of buiilding a decsion model first requires

- Solid understanding of the business problem at hand

- Knowing the availability of data bases

- Deep mastering of business logic

- Strong knowledge of statistical analysis

2. The main purpose of model validation is to find

- whether the business problem was accuately defined

- how well a model reflects reality

- how well a model fits the data

- the sensitivity of the solution

3. The reduced cost applies to

- Optimal values of non-zero decision variables

- The right-hand side of a binding constraint

- Coefficients of decision variables whose optimal value is zero

- The right-hand side of non-binding constraints

4. When one obtains a solution to a non-linear programing problem?

- it is most likely a unique solution

- it is most likely a local optimal solution - it is most likely a global optimal solution - it is most likely a infeasible solution