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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.
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significance of operation research in modern management
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
SING TEST The sign test is the simplest of the parametric tests. Its name comes from the fact that it is based on the direction ( or sings for pluses or minuses ) of
In your own words, describe the special cases of integer programming and binary programming: what makes these problems different? Give an example of each, pointing out why they mus
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how jaguar implements aggregate planning?
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