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Extensions to Linear ProgrammingIn many real situations the solutions to linear programming models make sense only if they have integer values. Rounding off the linear programming solution to the nearest integer sometimes does not produce a feasible solution. In this particular case, simplex method (or graphical method) can be a limitation. We use linear programming techniques to solve such problems.
Explain Support activitiesand production process activity Support activities are for example schedule production set up machine purchase materials inspect item customer orde
how to prepare master budget
Determine the Price determination process 1) Estimating the demand for the product: the first step in determining the price of a new product is to estimation the anticipated
INTERPRETING THE SIMPLEX TABLEAU We can now see that our attention must be directed to reading, interpreting and analyzing the (simplex) results. It is erroneous, however, to a
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Examples
A cash budget is one of the main important devices to plan and control cash payments and receipts. In preparation of a cash budget the subsequent points are considered. Cred
Identify whether each of the following transactions involves spot exchange, contract, or vertical integration. For the last item if the contract length is optimal or suboptimal.
How do you compare two companies operating leverage? Must the sales volume be set the same or the net operating income?
Engineering method These methods are based on the use of engineering analysis of technological relationship between inputs and outputs e.g. method studies and time and motion s
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