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Goal Programming
This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals could be sound ecological management, networking in the neighborhood and maximizing market share. These goals may dominate the earlier objective.
The idea is that a decision maker may not always be searching for an optimal solution but a "satisfying" solution that attempts to satisfy the many concerns of the management. Prof. Herbert A. Simon felt that a manager may not be able to optimize but may have to "satisfy".
Simplex method requires one goal. The goals are weighted and a single objective function is constructed which is then optimized to solve a goal programming problem.
RANK SUM TEST THE MANN WHITNEY U - TEST Mann Whitney u test is an alternative to the samples test. This test is based on the ranks of the observation of two samples pu
DISCUSS THE SIGNIFICANCE AND SCOPE OF OPERATION RESEARCH IN MODERN MANAGEMENT
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Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 4 X1+ X2 2 X1, X2 0on..
#q.2 Q.2 Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no a
Select five Operations Research techniques and describe in detail the real world application of such techniques in business decision making.
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
Minimize: 60P + 120Q Subject to: 2P + 3Q >10 P + 4Q >12 P, Q> 0
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2
Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
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