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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.
Dynamic programming It is an extension which finds solutions to problems involving a number of decisions which have to be made sequentially. For example, the amount of a produc
The board of a company decides that the strategic objectives of the company should be: * to become established as the best in its field * to be the largest in its market Comment on
The significant objectives of short-term cash forecast are as given: find out operating cash requirement anticipating short term financing Organization investment of
Explain Direct labor cost standard The setting up of standard labor cost for each product would require: a) The determination of budgeted fixed overhead for a period b) B
Illustration of Standard error of estimate The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour cos
What are the Advantages of contributionmargin analysis the concept of contribution is variable aid to management in making managerial decisions . a few benefits resulting from
Explain variable cost and fixed cost Variable costs: costs that vary almost in the direct proportion to the volume of production are known as variable costs. The examples of
Kinematic Pair: A pair is a joint of two elements which permits relative motion. The relative motion among the elements of links that built a pair is needed to be fully constrain
Bulk Agency Factoring : In this category factoring is essentially used as a method of financing book debts. In this sort of factoring the client continues to administer credit a
what is the not differential cost
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