Managerial Decision Modeling w/ Spreadsheets‚ 3e (Balakrishnan/Render/Stair) Chapter 4 Linear Programming Sensitivity Analysis 4.1 Chapter Questions 1) Surplus is typically associated with which type of constraints? A) ≤ B) ≥ C) = D) ≠ E) ± Answer: B Page Ref: 124 Topic: Sensitivity Analysis Using Graphs Difficulty: Easy 2) Assume that the shadow price of a non-binding "≤" constraint is 5. This implies that: A) if the right-hand side value of the constraint increases by 1 unit‚ the objective
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PERSONAL FINANCIAL INVESTMENT STRATEGY ANALYSIS [pic] PROBLEM: Bob and Pina Ing‚ 31 and 28‚ a newly-wed couple found themselves in the midst of an interesting decision making problem. It appeared that their fortune had turned overnight when they won a mega lottery and received one million dollars after tax in price money. They were confused about how to invest their money‚ such that it gives them the maximum return on their investment. The couple consulted Jayhawks Financial Services LLC
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dealt with graphical analysis of linear programming problems. We discussed some basic definitions‚ graphical methods to solve LPP‚ some exceptional cases‚ advantages‚ limitations‚ and important geometric properties of LPP. In this unit‚ we will deal with the simplex method‚ which focuses on solving an LPP of any enormity involving two or more decision variables. The simplex algorithm is an iterative procedure for finding the optimal solution to a linear programming problem. The objective function
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Quantitative Methods in Business – Linear Programming 1- Statement of the Problem: Middle East for investment offers a bundle of investment options in many types of securities. Mr. Brown‚ an investor‚ would like to invest $ 5 million in various securities. He wishes to maximize his yearly profit over the next year. The investment company offered him a portfolio including Bonds‚ Stocks‚ Gold and Land. The expected return is 6% for Bonds‚ 14% for Stocks‚ 10% for Gold and 5% for Land. For diversification
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Take-Home Mid-Term Chapters 1-4 Saint Francis University – Spring 2015 – John S. Miko Due February 24‚ 2015 40 points (40 points – 10 points each) Please solve each problem fully and answer any follow-up questions. Circle all answers. For the Linear Program models done in Excel Solver‚ I would not only like you to print the spreadsheet with the end results but I also want to see the Decision Variables‚ Objective Function‚ and Constraints that you modeled using Excel Solver. This portion can be
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simplex tableau 4. Recognize special cases such as infeasibility‚ unboundedness‚ and degeneracy 5. Use the simplex tables to conduct sensitivity analysis 6. Construct the dual problem from the primal problem © 2009 Prentice-Hall‚ Inc. 9–2 Linear Programming: The Simplex Method © 2008 Prentice-Hall‚ Inc. Chapter Outline 9.1 Introduction 9.2 How to Set Up the Initial Simplex Solution 9.3 Simplex Solution Procedures 9.4 The Second Simplex Tableau 9.5 Developing the Third Tableau 9.6 Review
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Problem Introduction Julia Robertson‚ a senior at Tech‚ is investigating different way to finance her final year at school. She is considering opening a food booth outside the stadium at the home football games. We are asked to formulate and solve the linear program in excel‚ write the sensitivity ranges for the objective function coefficients and the constraint quantity values then determine if Julia were to borrow some money from a friend before the first game to purchase more ingredients‚ could she
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Serendipity – Accidental Discoveries in Science ABSTRACT Serendipity means the faculty of making fortunate and unexpected discoveries by accidents. Penicillin‚ X-ray‚ Viagra‚ Teflon are common examples known as accidental discoveries in science. The stories of these discoveries are interesting and meaningful. X-ray for medical diagnosis and treatment‚ miracle drug penicillin‚ Viagra for treatment of erectile dysfunction‚ Teflon for frying pans‚ all of these discoveries make our life wonderful
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17th International Mining Congress and Exhibition of Turkey- IMCET 2001‚ © 2001‚ ISBN 975-395-417-4 Optimum Blending of Coal by Linear Programming for the Power Plant at Seyitömer Coal Mine K.Erarslan‚ H.Aykul‚ H.Akçakoca & N.Çetin Dumlupınar University‚ Department of Mining Engineering‚ 43100‚ Kütahya‚ Turkey ABSTRACT: In this study‚ a linear programming model is developed to determine the optimum coal blend in terms of quality and quantity. Coal with various features is mined from different
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Assignment #3: Case Problem "Julia’s Food Booth" Page 1 Case Problem "Julia’s Food Booth" Jenna Kiragis Strayer University 8/24/2012 Assignment #3: Case Problem "Julia’s Food Booth" Page 2 A) Formulate and solve an L.P. model: Variables: x1 – Pizza Slices x2 – Hot Dogs x3 – Barbeque Sandwiches Subject to: $0.75x1 + $0.45x2 + $0.90x3 ? $1‚500 24x1 + 16x2 + 25x3 ? 55‚296
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