Chapter 4 Linear Programming Applications in Marketing‚ Finance and Operations Management Learning Objectives 1. Learn about applications of linear programming that have been encountered in practice. 2. Develop an appreciation for the diversity of problems that can be modeled as linear programs. 3. Obtain practice and experience in formulating realistic linear programming models. 4. Understand linear programming applications such as:
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SQQM1023 Managerial Mathematics Semester 2 Session 2012/2013 GROUP ASSIGNMENT 1 ANSWER ALL QUESTIONS IN PART A AND B. Part A 1. Given the function Find i) ii) iii) iv) Domain . 2. Determine the domain for the following functions: 3. Mega Company plans to market a new product for RM18.50 per unit. The variable cost is RM14 per unit and the fixed cost is RM2200. Assuming is the quantity of the product: i) ii) iii) 4. Find the total cost function‚ . Find
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decision time Decision making is an important aspect of the Paper F5 syllabus‚ and questions on this topic will be common. The range of possible questions is considerable‚ but this article will focus on only one: linear programming. The ideas presented in this article are based on a simple example. Suppose a profit-seeking firm has two constraints: labour‚ limited to 16‚000 hours‚ and materials‚ limited to 15‚000kg. The firm manufactures and sells two products‚ X and Y. To make X‚ the firm uses
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Introduction to Management Science‚ 10e (Taylor) Chapter 4 Linear Programming: Modeling Examples 1) When formulating a linear programming problem constraint‚ strict inequality signs (i.e.‚ less than < or‚ greater than >) are not allowed. Answer: TRUE Diff: 2 Page Ref: Ch 2 review Main Heading: Formulation and Computer Solution Key words: formulation 2) When formulating a linear programming model on a spreadsheet‚ the measure of performance is located in the target cell.
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Personnel Scheduling at United Airlines 1. T. J. Holloran and J. E. Bryn‚ “United Airlines Station Manpower Planning System‚” Interfaces‚ 16(1): 39–50‚ Jan.–Feb. 1986. Despite unprecedented industry competition in 1983 and 1984‚ UNITED AIRLINES managed to achieve substantial growth with service to 48 new airports. In 1984‚ it became the only airline with service to cities in all 50 states. Its 1984 operating profit reached $564 million‚ with revenues of $6.2 billion‚ an increase of 6 percent
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Homework 12 Rock ‘n’ Rap Gabriel Gonzalez Block: 4 It costs the company an average of $15‚000 to produce a rock CD and an average of $12‚000 to produce a rap CD. Also‚ it takes about 18 hours to produce a rock CD and about 25 hours to produce a rap CD. The company can afford to spend up to $150‚000 on production next month. Also‚ the company will spend at least 175 hours on production. The company earns $20‚000 in profit on each rock CD it produces and $30‚000 in profit on each rap
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25/12/2012 IE 251 Assigning Regions to Sales Representatives at Pfizer Turkey Group Members: TABLE OF CONTENTS 1. INTRODUCTION 3 2. WORK CONDUCTED IN CASE STUDY 3 3. Mathematical Model 5 4. SENSITIVITY ANALYSİS 6 5. CONCLUSİON
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Executive Summary Overview Agrifarm Company is in the business of buying and selling grain. The company wants to increase profitability by ensuring that shipping costs are kept low. All is shipments come from 3 rail cars origins. In addition‚ all shipments must be routed through either of two grain processing centers before sending them to the final customer. The object is to minimize the total shipping cost‚ therefore selecting the proper shipping route for each carload. Problem There is a
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Quantitative Methods: MAT540 Quiz 5 • Question 1 If we are solving a 0-1 integer programming problem‚ the constraint x1 ≤ x2 is a conditional constraint. Answer Selected Answer: True Correct Answer: True • Question 2 If we are solving a 0-1 integer programming problem with three decision variables‚ the constraint x1 + x2 + x3 ≤ 3 is a mutually exclusive constraint. Answer Selected Answer: False Correct Answer: False • Question 3 If we
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Assume that you are a management scientist‚ and advice one of your client on diversifying his/her investments. This client has invested significant amount of his/her gratuity in the stock of company A. Since the rate of return of company A’s stock is moderate‚ s/he wants to earn more from the investments‚ and at the same time‚ s/he is reluctant to involve in risk-taking activities. So s/he expects your advice on portfolio investments which will guarantee the client minimum 13 percentage of return
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