Linear Programming Models), Basic Statistics

#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..

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages

Linear Programming Models), Basic Statistics

Related Discussions:- Linear Programming Models)

What is accounting system , The methods and records established to recogniz...

Linear power supply, LINEAR POWER SUPPLY (JPG) The Goodwill GPC3030D pow...

Meaning of book keeping, What do you understand by the term “Book Keeping”?...

Sample space of an experiment, 1.The resumés of 2 males applicants for a co...

Quartile deviasion, Calculate the quartile deviation??805,796,810,785,810,7...

Management accounting, CRSL has a large auditorium which can cater for 300 ...

Calculate - mean, how to calculate mean, median and the range on the follow...

Difference between estimated proportions of business owners, Question 1. In...

Reference number 20110907, I am not able to log in again to retrieve my ass...

Live experts, can I talk to them online

Write Your Message!

Featured Services

Online Tutoring

Project Development

Exam Preparation

Course Help

Assignment Help

Popular Subjects

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT