Linear Programming Models), Basic Statistics

Assignment Help:
#This is a chance to perhaps incorporate some of your experience, interests, and career business/management goals and ambitions within the context of an individual project paper. I want you to make-up your own problem and apply the linear programming tools and techniques we have been learning (Chapters 7 and 8). So you do not need to use real data here; instead, a reasonable and plausible objective function and constraints will suffice.

Pretend I am your boss or your client (i.e., you are a consultant). So I expect this paper to be 100% professional (neat, typed, error-free, descriptive, easy for me to read and follow, etc.) in nature. You are in college and, for most of you, English is your native language; that should be reflected in the quality of your writing (spelling, punctuation, grammar, etc.). At this point in your life and academic career this is assumed; i.e., you get no credit for writing at an acceptable level... instead, you incur severe sanctions if you do not.

Your problem will have exactly two variables (an X1 and an X2) and will incorporate a maximization (either profit or revenue) objective. You will include at least four constraints (not including the X1 = 0 and X2 = 0 [i.e., the “Non-negativity” or “Duh!”] constraints). At least one of these four must be a “=” constraint, and at least one other must be a “=” constraint; do not include any “= only” constraints. You must have a unique Optimal Solution Point; i.e., no unboundedness or infeasibility problems and no alternative optimal solutions.

You will make up the context, the particular numbers (objective function coefficient values), and the relationships (constraint equations and values) for your problem. I expect your model to be reasonable, plausible, and thoughtfully derived and explained—but not necessarily an accurate reflection of reality (i.e., you can make up the numbers).

Make sure you incorporate all of the topics we have gone over. Of course, it is clearly not good enough to just “mention and briefly define” any of these topics and leave it at that; instead, you need to incorporate each in your paper within the context of your problem/situation. Present and discuss your problem (background, objective, constraints, etc.) in “English” and then supplement that in “Math” (linear programming) language. (This is an extremely important part of your paper, and something that you will have to do a lot when you graduate and start a career.) The overwhelming majority of your paper will be written in “English,” with a bit of “Math” language stuff thrown in (as opposed to lots of “Math” language with a bit of “English” thrown in...).

Draw each constraint equation’s own individual graph. Then draw one “final” graph that includes the feasible region, the optimal objective function line (you need to actually graph it; do not just estimate where it goes!), and the optimal solution point. Perhaps the best way to draw these graphs is using a computer program such as EXCEL.

Make sure you incorporate (as discussed above) your objective function, constraints, slack and surplus values, optimal solution, optimal objective function value, sensitivity analysis, range of optimality, range of feasibility, dual prices, shadow prices, reduced costs, and anything else that we have discussed that is relevant to your project’s problem/situation.

While much of your work will be narrative, of course you should feel free to draw pictures, construct tables, use (and explain!) math equations and “math language,” etc., as you think appropriate and necessary. Re-stating some or all of your computer output in some other form is certainly ok; in fact, that is a big part of this projectquestion..

Related Discussions:- Linear Programming Models)

How Allotment is useful, How Allotment is useful An agency''s plan of appro...

How Allotment is useful An agency''s plan of approximated expenses, income, money payments, and money invoices for monthly of the biennium.

Cost management, if sales is 6800 and variable costs are 2856 what is the v...

if sales is 6800 and variable costs are 2856 what is the variable cost percentage?

State the model and apply t-test, Studies have linked brain size in infants...

Studies have linked brain size in infants and toddlers to a number of future ailments, including autism. One study looked at the brain sizes of 30 autistic boys and 12 nonautistic

Oecd database exercise , For this second assignment you will have to use th...

For this second assignment you will have to use the OECD database to investigate possible changes in the policy preferences of Western welfare states. You have to develop (i) an in

General journal, Can you do my accounting assignment?

Can you do my accounting assignment?

Bill of exchange, Who can issue a bill of exchange for what purpose? Onl...

Who can issue a bill of exchange for what purpose? Only a supplier who has to get the cash from his client for the purchase which was done on credit score platform can increase

Annual breakeven point, Hanks Western Wear is a western hat retailer in Lub...

Hanks Western Wear is a western hat retailer in Lubbock, TX.  Though Hanks carries various styles of western hats, every hat has approximately the similar price and invoice (purcha

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd