Explain briefly the term sensitivity analysis, Operation Research

Assignment Help:

Question:

(a) A company sells three different products X, Y and Z. The company makes a profit of Rs. 35, Rs. 50 and Rs. 60 per unit on products X, Y and Z respectively. The three products are produced in a common production process and are sold in three different markets. The total production process has a total capacity of 20000 man-hours. It takes two hours to produce a unit of X, three hours to produce a unit of Y and two hours to produce a unit of Z.

The market has been surveyed and it is found that the maximum units of X, Y and Z that can be sold are 12000, 8000 and 6000 respectively. Explain fully how you would formulate a linear programming model for this problem.

(b) A product mix problem can be formulated mathematically as follows:

Max Z = 100x1 + 75x2

subject to the constraints

5x1 + 10 x2 ≤ 1500
8x1 + 5x2 ≤ 1200
x1 ≤ 300 and x2 ≤ 400
x1 ≥ 0, x2 ≥ 0

Solve the above product mix problem using graphical method.

(c) Explain briefly the term ‘sensitivity analysis'.


Related Discussions:- Explain briefly the term sensitivity analysis

What strategies may be used in gaining acceptance, QUESTION a) "Organiz...

QUESTION a) "Organizations have to change only because changes in their external environments force them to change." Discuss b) What restraining forces may block the impleme

Examine the future sustainability of business, In your role as a Consultant...

In your role as a Consultant to a renowned organisation or institution, you have been asked to design and submit a research proposal to examine the future sustainability of its bus

User groups - information resources, User Groups: The next step would ...

User Groups: The next step would be to identify more specifically the potential user groups. This may be done on the basis of interviews, questionnaires, study of organisation

PROBLEM , #A paper mill produces two grades of paper viz., X and Y. Because...

#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

Determine phases-states-decisions and probability , G. Ambler has € 10000 ...

G. Ambler has € 10000 available for a second hand car, but would like to buy a fast car that costs € 25000. He needs the money for that car quickly, and would like to increase his

Lpp, A paper mill produces two grades of paper viz., X and Y. Because of ra...

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

Report writing - report writing presentation, REPORT WRITING The final...

REPORT WRITING The final step in research is to report the study  findings to those  who authorized the investigation. The American marketing association is  of the opinion  t

Applications of statistics in management, In a business, statis...

In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research

A paper mill, A paper mill products two grade of paper viz., X & Y. Because...

A paper mill products two grade of paper viz., X & Y. Because of raw material restriction, it cannot produce more than 400 tons of grade X paper & 300 tons of grade Y paper in a we

Overhead projector -report writing presentation , Overhead Projector  ...

Overhead Projector  Overhead  projector  casts an images of the transparencies  on a  screen. Transparencies  are frequently  used  visual  aids  especially  when  audience

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