1. Three electric power plants with capacities of 25, 40, 15, and 30 million kWh supply electricity to four cities. The maximum demands at the three cities are estimated at 30, 40, 35, and 25 million kWh. The price per million kWh at the four cities is given in Table. There is a penalty for each unmet city unit of demand. With city 1, a penalty cost of $950 is incurred; with city 2, $800; with city 3 $900 and with city 4, $1100 .The utility company wishes to determine the most economical plan for the distribution of energy. Cityl City2 City3 City4 Plant1 $600 $700 $750 $400 Plant2 $450 $650 S800 $500 Plant3 $320 $300 $675 $450 Plant4 $500 $480 S700 $450 Answer these questions according to problem given above. a) Set up balanced mathematical model. b) Create transportation table. c) Solve this problem by using north-west method. d) Solve this problem by using minimum-cost method. e) Select non-improved solution that you found, try to reach optimal value by using transportation simplex method. n Compare the results that you found and try to explain the differences. Which algorithms are more efficient or not?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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