Which of the following is true about generating alternatives in binary optimization?

Question

a. If the second-best solution is very close to optimal, it is always preferred over the true optimal solution because of factors outside the model.
b. If alternative solutions exist, it would not help management because some factors that make one alternative are not preferred over the factors that make another alternative.
c. If the solution is a unique optimal solution, it would be good for management to know how much worse the second-best solution is than the unique optimal solution.
d. If any alternative solution exists, it would only be a second-best next to the optimal solution because there is no third-best or an alternative second-best solution to any binary integer programming problem.

Answer 1

c
RATIONALE: If alternative optimal solutions exist, it would be good for management to know this because some factors that make one alternative preferred over another might not be included in the model. Also, if the solution is a unique optimal solution, it would be good to know how much worse the second-best solution is than the unique optimal solution. If the second-best solution is very close to optimal, it might be preferred over the true optimal solution because of factors outside the model. There could be a third-best solution or an alternative second-best solution to a binary optimization problem.