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Goal Programming
This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals could be sound ecological management, networking in the neighborhood and maximizing market share. These goals may dominate the earlier objective.
The idea is that a decision maker may not always be searching for an optimal solution but a "satisfying" solution that attempts to satisfy the many concerns of the management. Prof. Herbert A. Simon felt that a manager may not be able to optimize but may have to "satisfy".
Simplex method requires one goal. The goals are weighted and a single objective function is constructed which is then optimized to solve a goal programming problem.
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
Significance of operation research
Methods is a tool or a techniques used to collect data. It is procedure for obtaining knowledge based on empirical observation and logical reasoning. Field Study Metho
Seven Step to a Successful Presentation There are seven basic step which need to kept in mind at the time of making a presentation. How successful one is at eh end
how to solve operation research optimization questions
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
Reference Books: Definition According to William Katz (1969) a Reference book generally has the following qualities: It is a miscellany of information organised for quick
b. 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 pape
Simple Random Sampling This is simplest and most popular technique of sampling. In it each unit of the population has equal chance of being included in the samp
models in operation research
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