As per the information given‚ profits per acre on various crops are as follows: Profit per acre on wheat = 50 x 2 = $100 Profit per acre on Alfalfa = 1.5 x 40 = $60 Profit per acre on Barley = 2.2 x 40 = $88. Suppose Young’s production plan for the next year is as follows: Parcel Cultivation Area (Acre) Land Available Wheat Alfalfa Barley Southeast 2000 North 2300 Northwest 600 West 1100 Southwest 500 Total 6500 Total profit as per the production plan: The objective function
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Linear Programming History of linear programming goes back as far as 1940s. Main motivation for the need of linear programming goes back to the war time when they needed ways to solve many complex planning problems. The simplex method which is used to solve linear programming was developed by George B. Dantzig‚ in 1947. Dantzig‚ was one in who did a lot of work on linear programming‚ he was reconzied by several honours. Dantzig’s discovery was through his personal contribution‚ during WWII when Dantzig
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Resource Allocation Problem Statement The type of problem most often identified with the application of linear program is the problem of distributing scarce resources among alternative activities. The Product Mix problem is a special case. In this example‚ we consider a manufacturing facility that produces five different products using four machines. The scarce resources are the times available on the machines and the alternative activities are the individual production volumes. The machine
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Synergetic Solutions Report Individual COURSE DATE Professor Synergetic Solutions Report The Synergetic solutions simulation helps in deciding what steps need to be taken to help the company succeed in the networking solutions market. There were different strategies that could be implemented‚ and also actions plans to take in making the company successful. In cases where productivity increases absenteeism was on the decline. This simulation allows for the identification
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SOLUTION TO ANDREW–CARTER‚ INC.‚ CASE This case presents some of the basic concepts of aggregate planning by the transportation method. The case involves solving a rather complex set of transportation problems. Four different configurations of operating plants have to be tested. The solutions‚ although requiring relatively few iterations to optimality‚ involve degeneracy if solved manually. The costs are: [pic] The lowest weekly total cost‚ operating plants 1 and 3 with 2 closed‚ is
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Short Info On Excel Solver Excel Solver is a tool to model and solve linear and nonlinear programming problems. To access it‚ open Excel‚ choose the tab “Data” and select “Solver” from the “Analysis” group. If it is not there‚ you have to install it‚ by clicking the “File” tab (or the Office button)‚ then “Options”‚ then “Add-Ins”‚ and then “Manage Add-Ins”. Check “Solver” there. To solve the model‚ you have to first program in on a spreadsheet. In the attached “excel-example.xls” we solve the linear
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CASE STUDY – INFORMING PANASONIC 1. From the information supplied in the case‚ identify three information needs of Panasonic as an organization and explain why this information would be important to managerial decision – making at the company. Three information needs of Panasonic • Has the ability to create‚ store‚ share and analyze data about products‚ customers and suppliers in ways that were not even feasible just a few decades ago. • It had developed numerous duplicative‚ inconsistent and
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Project Instructions: Read and complete the following Application Case. Spreadsheet Model-Based Decision Support for Inventory Target Setting at Procter & Gamble. Procter & Gamble (P&G) is a large‚ diversified‚ multinational consumer products company. Its modeling and decision support group was asked to create global inventory models. P&G has needed “scientific” models to help it control its inventory since the mid-1980s when it implemented Distribution Requirements Planning
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Its just a j payo tei essay. Please forgive me god. This course provides an introduction to some of the concepts and methods of business analytics with a focus on the application of mathematical modeling and analysis to management problems important goal of this course is to develop a more disciplined and rational process in the way you approach management decisions. As a result of this course‚ you will become more confident in understanding and using spreadsheet models to support management
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Program Structure The program consists of a total of ten curricula modules. Students are required to attend the three capstone workshops in person with their peers. Students are encouraged to attend the other seven workshops in person but can complete the degree through a distance learning option for greater flexibility. The ten Management of the Oil & Gas Industry modules include: (a) Business • Finance • Project Management • Strategic Planning (b) Technical • Petroleum Geoscience
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