requires just 1 gallon per acre. What is the maximum profit he can make? SOLUTION TO PROBLEM NUMBER 1 let x = the number of acres of wheat let y = the number of acres of barley. since the farmer earns $5‚000 for each acre of wheat and $3‚000 for each acre of barley‚ then the total profit the farmer can earn is 5000*x + 3000*y. let p = total profit that can be earned. your equation for profit becomes: p = 5000x + 3000y that’s your objective function. it’s what you want to maximize the constraints
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Chapter 8 Linear Programming Applications To accompany Quantitative Analysis for Management‚ Eleventh Edition‚ Global Edition by Render‚ Stair‚ and Hanna Power Point slides created by Brian Peterson Copyright © 2012 Pearson Education 8-1 Learning Objectives After completing this chapter‚ students will be able to: 1. Model a wide variety of medium to large LP problems. 2. Understand major application areas‚ including marketing‚ production‚ labor scheduling‚ fuel blending‚ transportation‚ and
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wishes to finance all fixed assets and half of its permanent current assets with long-term financing costing 10 percent. Short-term financing currently costs 5 percent. Lear’s earnings before interest and taxes are $200‚000. Determine Lear’s earnings after taxes under this financing plan. The tax rate is 30 percent. - All fixed assets= $600‚000 - Half of its permanent current assets = $175‚000 - Long-term financing cost= 10% - Earnings before interest and taxes = $200‚000 - Tax rate= 30% Long-term
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Problem statement. There’s this game called linear nim where 2 players who have 10 marks and so they have to figure out a strategy. Then who ever crosses out the last mark wins. You can also play it with 15 marks. But you have to figure what to do while playing this game and try to find patterns or strategies to win. Process. So what I did to attempt the problem is that I played the game a few times with my partner with the 10 marks and 15. So we can find some patterns and strategies that we can
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TOPIC – LINEAR PROGRAMMING Linear Programming is a mathematical procedure for determining optimal allocation of scarce resources. Requirements of Linear Programming • all problems seek to maximize or minimize some quantity • The presence of restrictions or constraints • There must be alternative courses of action • The objective and constraints in linear programming must be expressed in terms of linear equations or inequalities Objective
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CHAPTER 8 Linear Programming Applications Teaching Suggestions Teaching Suggestion 8.1: Importance of Formulating Large LP Problems. Since computers are used to solve virtually all business LP problems‚ the most important thing a student can do is to get experience in formulating a wide variety of problems. This chapter provides such a variety. Teaching Suggestion 8.2: Note on Production Scheduling Problems. The Greenberg Motor example in this chapter is largest large
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QUANTITATIVE METHODS II Mid-Term Examination Monday‚ October22‚ 2012 Time : 150 minutes Total No. of Pages :17 Name ________________________ Total No. of Questions: 3 Roll No. ________________________ Total marks:35 Section: _______________________ Instructions 1. This is a Closed Book Exam. You are not allowed to carry anything other than stationary and calculator. 2. Answer all questions only in the space provided following the question. 3.
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Linear Model[edit] It is a one way model to communicate with others. It consists of the sender encoding a message and channeling it to the receiver in the presence of noise. In this model there is no feedback which may allow for a continuous exchange of information. This form of communication is a one-way form of communication that does not involve any feedback or response‚ and noise. (F.N.S. Palma‚ 1993‚ Shannon and Weaver[edit] The new model was designed to mirror the functioning of radio and telephone
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2.) The primary distinction between prospective and retrospective payments is that prospective payment is when payer dictates what is necessary for each patient and at what cost these procedures will be reimbursed under. In contrast‚ retrospective payments are just same as or "fee-for-service" compensations that maximize the freedom of patients and providers to decide what procedures are best for each individual. Consequently‚ the main different between both is that one has a freedom of choice‚ while
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CLUSTER FINANCING Definition of Cluster in the Indian Context Clusters can be defined as Sectoral and geographical concentration of enterprises‚ in particular Small and Medium Enterprises (SME)‚ faced with common opportunities and threats which can: a. Give rise to external economies (e.g. specialized suppliers of raw materials‚ components and machinery; sector specific skills etc.); b. Favour the emergence of specialized technical‚ administrative and financial services; c. Create a conducive
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