TOPIC – LINEAR PROGRAMMING Linear Programming is a mathematical procedure for determining optimal allocation of scarce resources. Requirements of Linear Programming • all problems seek to maximize or minimize some quantity • The presence of restrictions or constraints • There must be alternative courses of action • The objective and constraints in linear programming must be expressed in terms of linear equations or inequalities Objective
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>> Cnew=nlinfit(Tnew‚knew‚@classworkfuncequation1‚Cguessequation1) Cnew = 27.6813 572.1670 >> Cguessequation1=[1 1]; >> Cnew=lsqcurvefit(@classworkfuncequation1‚Cguessequation1‚Tnew‚knew) Local minimum found. Optimization completed because the size of the gradient is less than the default value of the function tolerance. <stopping criteria details> Cnew = 27.6813 572.1670 Editor %Question b) Equation 2 function f=classworkfunc(a‚TKelvin_2)
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Linear Programming is a mathematical technique useful for allocation of scarce or limited resources to several competing activities on the basis of given criterion of optimality.The usefulness of linear programming as a tool for optimal decision-making on resource allocation‚ is based on its applicability to many diversified decision problems. The effective use and application requires‚ as on its applicability to many diversified decision problems. The effective use and application requires‚ as a
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References: American Economic Review‚ Vol. 67(5)‚ pp. 823–39 (1977) [3] M Vol. 16‚ pp. 99–114 (2005) [4] J economy. Discussion Paper IZA‚ 1538 (2005) [5] J Theory (2006) [6] G (1994) [7] G [9] D. Gensch. Advertising planning: mathematical models in advertising media planning. Elsevier (1973) [10] M (1997) [11] B user value in information rich environments. http://www.hpl.hp.com/ research/idl/papers/attention/attention.pdf (2006) [12] D. Kahneman. Attention and Effort. Prentice Hall
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antisubmarine‚ and mining operations. The scientific approach to decision making usually involves the use of one or more mathematical models. A mathematical model is a mathematical representation of an actual situation that may be used to make better decisions or simply to understand the actual situation better. The following example should clarify many of the key terms used to describe mathematical models. EXAMPLE 1 Maximizing Wozac Yield Eli Daisy produces Wozac in huge batches by heating a chemical
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Your job is to select three companies’ stock that are listed in NASDAQ/NYSE and gather 15 years stock and calculate rate of return on each year. Assume that the company A has lowest average rate of return among the three companies. 1) Formulate a mathematical model for this portfolio selection problem. 2) Determine how much portion of your client’s investments can be distributed to each of these companies’ stock price‚ and at the same time‚ s/he has to expect minimum 15% rate of return while minimizing
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for each product can be decreasing. We present a cluster-based heuristic algorithm that can incorporate both variance reduction techniques from the simulation literature and the principles of a generalized maximum flow algorithm from the network optimization literature. © 2005 Wiley Periodicals‚ Inc. Naval Research Logistics 53: 137–150‚ 2006 Keywords: capacity planning; stochastic demand; simulation; submodularity; semiconductor industry 1. INTRODUCTION Because highly volatile demands and
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initial material handling cost of the layout was Rs.10550. The CRAFT algorithm is used for the optimization of machines in the Cell 1 layout. After performing six iterations the cost has been reduced to Rs. 5950 and the layout has been optimized. In the optimized layout the machines 25 and 7 needs to be switched/interchanged. 1.1.1. Machine Optimization in Cell 2 The procedure for doing the optimization is discussed in 6.7.1. The facility information‚ machine information‚ flow matrix‚ cost matrix
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planning to the design of radiation therapy‚ and so on. However‚ the one common ingredient in each of these situations is the necessity for allocating resources to activities by choosing the levels of those activities. Linear programming uses a mathematical model to
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Table of Conten 1. INTRODUCTION1 2. Formulate the Problem1 2.1 CHOOSE DECISION VARIABLES1 2.2 FORMULATE THE OBJECTIVE FUNCTION1 2.3 FORMULATE CONSTRAINTS2 3. SOFTWARE2 3.1 MICROSOFT OFFICE EXCEL2 3.1.1 EXCEL DATA INPUT AND SOLVE THE PROBLEM2 3.1.2 ANSWER ANALYSIS3 3.1.3 SENSITIVITY ANALYSIS4 3.2 XPRESS-IVE ANALYSIS6 4. CONCLUSION6 APPENDIX Operational Research Methods Report 1. Introduction Linear programming (LP) model is a significant and popular used model of operational
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