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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.
Model building is the essence of the operations research approaches?
Rules Regarding the Table Structure a. Table Number: When a number of tables are constructed serial number of the tables should be given to each table. b. Title Th
Short Define operations research as a decision-making science
A DRUG MANUFACTURER produces 2 products X1 and X2.X1 needs 2 hours on machine A AND 2 HOURS ON MACHINE B.X2 needs 3 hours on machine A and 1 hour on machine B.If machine A can run
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 in
Question 1 Explain the process of problem identification with an example 2 Interview method involves a dialogue among the Interviewee and the Interviewer. Describe the inter
Research Abstracts Abstracts of researches completed are available from the followings publications: a. ICSSR Research Abstracts: contain abstracts of research projects
#questioA 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
Problem based on graphical solution of a given LPP when feasible region is bounded. 1. Solve the following linear programming graphically; Maximize and minimize z = 60x+
Disadvantage of standard Deviation It is not easy to understand and calculate. It gives more weight to the extremes and less to the items nearer to mean. Since
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