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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
Calculation of Standard Deviation - Continuous Series: In the continuous series the methods of calculation standard deviation is almost the same as in a discrete frequency distrib
Research Methodology 1. Discuss how the research will be executed to achieve the proposed research objectives. The methodology should be based on the methods that are used in
advantages of northwest corner method
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Use Big M method to Maximize(Z)=3_(x_1 )+2_(x_2 ) Subject to 3_(x_1 )+?1.5?_(x_2 )=30 x_1+x_2=20 x_1=0 x_2=0
Advantages of Mode a.It is easy to understand as well as easy to calculate. In can be found out by inspection. b.It is usually an exacta value as it occurs most fre
#question:explain the theory of dominance in the solution of rectangular games?
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how to solve it
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