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Objective Function
Although the standard LP model can be either the maximization or the minimization type, it is sometimes useful to convert one form to the other.The maximization of a function is equivalent to the minimization of the negative of the same function, and vice versa.For example: Max. Z = 5X1 + 2X2 + 3X3 is mathematically equivalent to Min. (-Z) = -5X1 - 2X2 - 3X3Equivalence means that for the same set of constraints the optimum values of X1, X2 and X3 are the same in both cases. The only difference is that of the values of the objective functions, although equal numerically, will appear with opposite signs. Example: Write the following LP model in the standard form:Minimum: Z = 2X1 + 3X2 Minimum: Z = X1' - 2X1'' + 3X2Subject to: X1 + X2 = 10 Subject to: X'1 - 2X''1 + 3X2 = 10 -2X1' + 3X2≤ -5 2X'1 - 2X''1 - 3X2 - S2 = 5 7X1 - 4X2 ≤ 6 7X'1 - 7X''1 - 4X2 + S3 = 6 X1 Unrestricted X1', X1'', X2, S2, S3 ≥ 0 X2 ≥ 0
Cost Behavior A firm's cost position results from the cost behavior of its value activities. The cost behavior is based on a number of structural factors which influence cost
Pike Corporation paid $100,000 for a 10% interest in Salmon Corp. on January 1, 2010, when Salmon''s stockholders'' equity consisted of $800,000 of $10 par value common stock and
h. Production orders that had cost 450,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above
Determine the cost according to normality According to normality: under this category cost may be categorized as follows: Normal cost: it is the cost which is normally i
Computing equivalents units and assigning costs to completed units and ending work in process; no beginning inventory or cost transferred in (30 -45min) Sue Electronics makes CD
No further banks were the sole source of funds for working capital requires of the business sector. At current more finance options are obtainable to a Finance Manager to allow smo
Types of Simulation 1) Operational Gaining Method: This refers to those situations involving conflict of interest among players or decision makers within the framework o
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The Baumol Model in 1952 considers cash management complication as same to inventory management problem. For itself the firm attempts to minimize the total cost that is the sum of
Advantages of participatory budgets Information from employees most recognizable with each unit’s needs and constraints is included. Knowledge spread amongst numerous lev
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