, X2 ≥ 0
(a) Solve the problem the graphical method presented in class. Put x1 on X-axis. Clearly mark the feasible region and direction of increase/decrease of Z and state what the optimal solution is. Compute the Slack/Excess for each constraint. (7 + 1= 8 marks)
(b) Determine range of...
outputs".
Based on the above statement, explain briefly the ten (10) Operations Management critical
decisions.
(20 marks)
APR 2011
a) Elaborate any four (4) reasons for the company involving in international trade. (8 marks)
b) PROTON will introduce a new model known as PROTON INSPIRA for the...
(view of parents)
VI. Debias your judgment (how the situation is perceived)
VII. Ethical considerations (of each alternative) – key components ( what will it help)
VIII. Rate each alternative on each criterion (how important is it)
IX. Compute the optimaldecision ( the final decision...
proportion of people with 2 children is lower than 21%.
24. Decide, if the following statements are true, based on the significance value (p-value).
(Formulate H0 and H1, compute the necessary information and make your decision.)
a. People, who live in the capital have less children compared to the...
assumptions that underlie regression analysis. • Be familiar with Excel trendline tools and the linest function. Nonlinear Optimization (Chapter 10) • Understand the difference between linear and nonlinear models. • Know what is meant by objective function, decision variables, and constraints. • Be able...
. Determine the appropriate ROP (in units). 3. Compute the cost savings that the company will realize if it implements the optimal inventory procurement decision. 4. Should procurement costs be considered a linear function of the number of orders?
Source: Professor Jerry Kinard, Western Carolina University...
Important characteristic: only one job or worker is assigned to one machine or project
Transportation Algorithm
An iterative procedure in which a solution to a transportation problem is found and evaluated using a special procedure to determine whether the solution is optimal.
If the solution...
requirements: Ex. Inventory buffering, For services: Reservations or Appointments
k. Identify the optimal operating level
D. Evaluating Alternatives
a. Production units have an optimal rate of output for minimal cost.
b. Minimum cost & optimal operating rate are...
and Pennings, 1998). In the domain of telecommunications, the optimaldecision problem of building new capacity in the presence of stochastic demand for services is studied by Halluin et al.(2002). They notice that sometimes it is optimal to wait until the maximum capacity of a line is nearly reached...
Strategy and Competitiveness JAN 2012 "Operations Management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs". Based on the above statement, explain briefly the ten (10) Operations Management critical decisions. (20 marks) APR 2011 a...
as we have here. Potential profitability and evidence of double marginalization Are there indications that the low profitability of these sales promotions is due to suboptimality caused by double marginalization? To answer this question, we compute the optimal sales promotions for the 86 cases...
tree for an optimal prefix code has exactly |c| leaves (one for each letter) and exactly |c|-1 internal orders. Given a tree T corresponding to the prefix code, compute the number of bits required to encode a file. For each character c in C, let f(c) be the frequency of c and let dT(c) denote the...
, Inc. 9–5
produce solutions
It provides the optimal solution to the decision
variables and the maximum profit (or minimum cost) It also provides important economic information To be able to use computers successfully and to interpret LP computer printouts, we need to know what the...
combinations of subsets yield a similar value. In that situation, the LP might compute an upper bound dangling just a tiny improvement and the branch cannot be cut off. One way out of this dilemma is to allow small deviations from the optimal solutions. We cut off a branch if the upper bound only differs from...
.
i. Total rating of alternative by multiplying Step 3 criteria with Step 5 ratings:
1. 4x1 + 3x4 + 2x2 + 1x3 = 23 points.
6. Compute the optimaldecision:
a. To calculate the optimaldecision I need to first rate my actual decision:
i. 4, I would start...
optimal. However, as in the stepping-stone method, cell 2A with a zero cost change indicates multiple optimal solutions. The steps of the modified distribution method can be summarized as follows: 1. Develop an initial solution using one of the three methods available. 2. Compute ui and vj values for...
, the lower the quality of the schedule. | Yes. Optimizes schedules by modeling each business objective as a component of the overall cost function. Weights are used to differentiate the objectives according to importance. |
Able to un-do previous sub-optimaldecisions | Yes. However, the extent to...
, Weight the Criteria, Generate Alternative Courses of Action, Evaluate Each Alternative, Compute the OptimalDecision, Limits to Rational Decision Making
• Using Groups to improve Decision Making
o Advantages and Pitfalls of Group Decision Making, Structured Conflict, Nominal Group...
] (6)
[pic] (7)
[pic](8)
for all variables ≥ 0;
Please note that [pic] is a decision variable to decide which worker is assigned to which team. The first term in objective function (4) computes the deviations of team energy for all zones from ideal KCI values...
a single relevant resource constraint
Chapter 7
7-1, 7-3, 7-6, 7-9, 7-12, 7-16, 7-20
1. When evaluating a capital budgeting decision, we first consider the project on its own, separate from the decision regarding how to finance the project.Thus, we ignore interest expenses and compute the...