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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.
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
Advantages of Mean Deviation a.It is based on all the observation . any change in any item would change the value of mean deviation. b.Mean deviation is less aff
Maximize6x1+8x2+5x3,st,labour3x1+4x2+5x3 =0 then brefly explain x1,x2,x3;term labour,metal&plastic;the160hours;x1,x2&x3>=0
Among other limitations of O. R the followings deserve mention: a. Basis: The operational researchers must be unbiased. An attempt to shoehorn result sin to a confirmation of ma
Uses of Mode The use of the mode is recommended in the following situations: a.When a quick and approximate measures of central tendency desired. b.When the measure
1. Explain the effects that MIS, DSS, CRM and ERP have on organizational communication and decision making to increase productivity and efficiency in an increasingly competitive bu
Methods is a tool or a techniques used to collect data. It is procedure for obtaining knowledge based on empirical observation and logical reasoning. Field Study Metho
Uses of Standard Deviation Normal 0 false false false EN-IN X-NONE X-NONE
minimization
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