1800-1930/1940-2110 ROOM: L330 INSTRUCTOR: MR. ENRICO L. CORDOBA (lance_emeric@yahoo.com) COURSE DESCRIPTION: MANASCI (MANAGEMENT SCIENCE) is a 14-week course on the study of quantitative techniques in business decision-making. The course covers linear programming models and its special algorithms; network (PERT/CPM) models; decision-making theories and processes; and decision tree construction and analysis. LEARNING OUTCOMES (LO): On completion of the course, the student is expected to be able to
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3RD YEAR , 1ST SEMESTER BBA – 3RD BATCH DEPARTMENT OF FINANCE JAGANNATH UNIVERSITY TOPIC Quantitative Analysis for Optimization : Using Linear Programming & Transportation Problem Group Name Name & ID No. of the Group Members: |Sl. No. |Name
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Chapter 5 Modeling with Linear Programming 5.1 Introductory Example SilComputers makes quarterly decisions about their product mix. While their full product line includes hundreds of products, we will consider a simpler problem with just two products: notebook computers and desktop computers. SilComputers would like to know how many of each product to produce in order to maximize pro t for the quarter. There are a number of limits on what SilComputers can produce. The major constraints are as follows:
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1. Ideal situation: Setup the spreadsheet model correctly and answer (in a Word document) all questions in the first part of the case. I provide feedback and you continue working on the second part. (Note: To be able to do the second part, we need to learn the content in Module 3.) Then, by December 9, you consolidate your analysis of the first and second parts, put them in a report format with the instructions given (executive summary, etc.) and submit. 2. Expected situation: Setup the spreadsheet
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Example: [pic] Linear programming (LP; also called linear optimization) is a method to achieve the best outcome (such as maximum profit or lowest cost) in a mathematical model whose requirements are represented by linear relationships. Linear programming is a special case of mathematical programming (mathematical optimization). More formally, linear programming is a technique for the optimization of a linear objective function, subject to linear equality and linear inequality constraints
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decision making, linear programming, inventory control, Project Scheduling/Management Theory, PERT/CPM, simulation, and other techniques used in management. Course Goals and Student Learning Objectives. The course will emphasize basic principles of mathematical modeling, computational algorithms and spreadsheet computer solutions of optimization, decision analysis, simulation and network based methods applied to business problems. I. Students will learn various aspects of Linear Programming
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PRICING MANAGEMENT 1. The pricing strategy used to set prices of the products that are must be used with the main product is called a) captive product pricing b) product line pricing c) competitive pricing d) optional product pricing 2. The pricing strategy in which prices are set lower to actual price to trigger short term sales is classified as a) promotional pricing b) short term pricing c) quick pricing d) cyclical pricing 3. The kind of reduction made
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Step 2: Generate a random number between 0 and 1 by using the random number generator in the programming software and then denoted as r.\\ Step 3: Make the generated random number r connected with the cumulative distribution function (CDF) for every parameter to get a set of deterministic values for parameters in $a_{ij}$, $b_{ij}$ and $c_{ij}$.\\ Following in Figure 3.3 is an example showing how to set a random value for a parameter.\\ Step 4: Replace the interval parameters $a_{ij}$, $b_{ij}$
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Question 1 2 out of 2 points | | | |[pic] |The standard form for the computer solution of a linear programming problem requires all variables to the right and all | | | | | |numerical values to the left of the inequality or equality sign | | | | | |
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making the toques and mitts is zero. So in this case, profit ≡ revenue. If the quantity you want to optimize (here, profit) and the constraint conditions (more on them later) are linear, then the problem can be solved using a special organization called linear programming. Linear programming enables industries and companies to find optimal solutions to economic decisions. Generally, this means maximizing profits and minimizing costs. Linear programming is most commonly seen in operations research
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