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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.
Q2.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 assignm
#questioA 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
Method of Concurrent Deviations The coefficient of concurrent deviation or coefficient of correlation b the concurrent deviation methods is given by the formula. R
Requirements and Characteristics of a good table In the words of Mr. Harry Jerome a good statistical table is a triumph of ingenuity and technique masterpiece of economy o
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
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
Calculation of Ranks Correlation Where Ranks are Given: When the actual ranks are given the steps followed are: a.Compute the difference of the two ranks (R1 and
Problems based on LPP when feasible region is a line segment or it does not exist. 1. Maximize z = 2x+3y subject to the constraints X + y ≤ 1 X + y ≥ 3 X, y ≥ 0
nature and types of problems
Stratified Sample Size The sampling study has depended much on the stratified sample to reduce the sampling error, samples size may have a number of strata or cluster
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