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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.
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
explain characteristic of operation of research.
The supply of a certain good is inspected periodically. If an order is placed of size x >0 (integer), the ordering costs are 8+2. x. The delivery time is zero. The demand is stoc
You are required to investigate and examine aspects of planning and organisational structure for a 'real-life' organisation. This assessment enables you to relate the theories and
a. Determine the following with respect to decision making approaches: (i) Group decision making (ii) Directive, analytic, conceptual and behavioral decision making styles (8
Hypothesis Building and Testing The foundation of hypothesis building lies in discovering links between elements of your data. CAQDAS can help you to discover these links
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Types of Correlation 1. Positive Correlation : When the values of two variables move in the same direction .e. when an increase in the values of one variables is ass
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