The programming in optimization means ...
Q: What is the definition of integer programming?
A: When some but not all of the governing equations are integers, the programming is said to be a mixed…
Q: 1. How many corner points exist for the feasible solution? 2. One corner point does NOT lie on the x…
A: First, we will formulate the LP model. The decision variables are x (corn) and y (oats) The…
Q: Simplex problem Maximize: 10x1+6x2+3x3 S.t. X1+X2+2x3=0
A: The problem is converted to canonical form by adding slack, surplus and artificial variables as…
Q: Explain the kinds of problems that occur in assumption of linear Programming ?
A: Below is the solution:-
Q: OBJECTIVE FUNCTION Max Zt = 2X, + 4X2 +3X3 SUBJ TO: 3x1 + 4X2 + 2X3 =< 60 2X; + X2 + 2X3 =< 40 X1 +…
A: Given, MAX Z = 2x1 + 4x2 + 3x3subject to3x1 + 4x2 + 2x3 <= 604x1 + x2 + 2x3 <= 40x1 + 3x2 +…
Q: Is Linear programming is a powerful technique for dealing with resource-allocation problems?
A: Linear programming is the most powerful method of quantitative tools in the operation management…
Q: Which of the following are the four fundamental assumptions of resilient optimization?'
A: The resilient optimization model has the following aspects under it that can be used as a model for…
Q: Use the following information for the next four questions: On Jan. 1, 20x1, Red Co. acquires…
A: Principal Amount = ₽500,000 Interest = ₽50,000
Q: Compare interior-point algorithms with the simplex method?
A: The Interior-Point Method is used in solving both linear and nonlinear optimization problems that…
Q: 1. In the mechanical workshop, 5 different jobs are to be assigned to 4 different machines. Assign…
A: The Hungarian table looks like:
Q: Explain what is meant by the assumptions of linear programming
A: Linear Programming is a philosophy or mathematical model that is used in a variety of industries to…
Q: 07 sing a suitable technique, you are required to solve the following equations, inimize := 3x, +…
A: Given that: MIN Z = 3x1 + 7x2 + 4x3 + 5x4subject to2x1 + x2 + 3x3 + 4x4 >= 7x1 + 2x2 + 4x3 + 2x4…
Q: Elaborate/ Explain Integer Linear Optimization and put examples
A: Integer linear optimization is a version of linear programming where the condition is that all or a…
Q: Define n/n problem with a suitable practical example
A: Note: Since you have posted multiple independent questions in the same request, we will solve the…
Q: Why Modifying the objective function is required?
A: Organizational objectives are the goals and aim that an organization aims to achieve. Change is…
Q: Explain the 3 main limitations that lead to sub-optimal deciding. psychological feature…
A: The theory of bounded rationality originates from Nobel laureate Herbert Simon. In 1957, he…
Q: Show the complete Linear Programming Model. Show solutions (i.e. decision variables, objective…
A: Decision Variable: Suppose-X = Tons of ore extracted from source AY = Tons of ore extracted from…
Q: olve the following problem with Excel Solver: (Leave no cells blank be certain to enter "0" wherever…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: What is linear programming?
A: Linear programming is a mathematical method in which a linear function is minimized or maximized…
Q: A factory produces four products, D, C, B, A, using two machines Mand M. The time taken and the cost…
A: First Calculate Profit per unit for each product. Unit Profit of product = Unit selling price – unit…
Q: Find decision variables, objective function, constraints and non-negativity constraints An auto…
A: Decision variable: Suppose-T be the no. of trucks to be manufactureC be the no. of cars to be…
Q: 3. Maximize: z = 11x1 + 16x2 + 15x3 subject to the following constraints X1 + 2x2 + r3 0
A: Decision Variable: x1, x2, and x3 are the decision variables. Objective function: Max Z = 11x1 +…
Q: Obj: maximize profit = X +8X2 %3D Constraints: C : X +2X2 7. C2 : X +4X2 S 9.5. X1, X2 2 0, and X1,…
A: The answer is as below:
Q: a. How many decision variables are there? b. Give the names of the decision variables. c. How many…
A: There are three decision variables.
Q: What is Multivariable Unconstrained Optimization?
A: Multivariable unconstrained optimization concerns result in the differentiable(maximum or minimum)…
Q: 2. A company has to minimize its cost = 200X + 300Y, subject to the following constraints: X + Ys 50…
A:
Q: What are the benefits of linear programming models
A: Each organization's operations and procedures require detailed planning. The linear programming…
Q: What are optimization problems?
A: Optimization is comprehended as 'mathematical programming', is the array of mathematical standards…
Q: What are some applications of the dynamic programming technique?
A: Dynamic programming is the technique of optimizing the data and values. This technique is used to…
Q: Maximize P=x1+2x2+x3, Subject to: 3x1+x2+x3≤4 x1+x2+2x3≤4 x1,x2,x3≥0
A: Formula:
Q: The solution to the mean-variance optimization problem using estimated r ̄ is not optimal w.r.t. the…
A: Taking into account, a single term market for n shares with the similar expected return and…
Q: Describe what is meant by the assumption of linear programming?
A: Linear Programming is a conceptual paradigm used in many industries to optimize or reduce output…
Q: xplain the term “Constrained Optimization” as Thaler used in the first chapter of Misbehaving.
A: Constrained optimization is used in mathematical optimization . It is the process of optimizing an…
Q: 8 Graphically find all optimal solutions to the follow- ing LP: min z = x1 - x2 s.t. X1 + x2 < 6 X1…
A:
Q: B.) Convert the following function to standared form Min Z = 2x₂ + 5x3 S.t: x₁-x₂ ≥2 2x₁ + x₂ + 6x3…
A: Linear programming, often known as linear optimization, is a method for obtaining the best result…
Q: WhAt is Integer Linear Optimization and how it is solved?
A: Linear optimization is one of the most popular techniques in linear programming. ILO was first…
Q: Maximize 8x + 9y Subject to - x + 2 y 0 a) Solve using simplex method
A: Given data: Objective function for maximization: 8χ+9γ Constraints: 1. χ+2γ<8 2. 2χ+3γ<13 3.…
Q: A firm just completed a new plant that will produce more than 500 different products, using more…
A: In the current case, the plant is new and no manager will have adequate experience to show up at a…
Q: What is the difference between the analysis space and design space in an optimization process?
A: Process of optimization: Optimization process is the process of adjusting and calculating certain…
Step by step
Solved in 2 steps
- 3 II | Here are the changes to the original problem and the revised conditions for this decision-making problem: With a favorable market, John Thompson thinks a large facility would result in a net profit of $195,000 to his firm. If the market is unfavorable, the construction of a large facility would result in $185,000 net loss. A small plant would result in a net profit of $110,000 in a favorable market, but a net loss of $25,000 would occur if the market was unfavorable. Doing nothing would result in $0 profit in either market conditions. a) Create a decision table, b) What is your recommendation if you would apply the Maximax criterion (Optimistic)? Follow the guidance from your textbook and create a table. c) What is your recommendation if you would apply the Maximin Criterion (Pessimistic)? Follow the guidance from your textbook and create a table. d) What is your recommendation if you would apply the Criterion of Realism (Hurwicz Criterion) with a coefficient of realism a =…5. The manager of a fast-food restaurant featuring hamburgers is adding salads to the menu. If they choose to include a salad bar (i.e., the MAKE option), it will cost $14,000 in annual fixed costs for the leased equipment and added employee, and $1 per salad variable cost. If they choose to have pre-made salads (i.e., the BUY option), it will cost $3 per salad. The manager expects to sell 7,500 salads per year. What is the make or buy quantity (i.e., the breakeven point between making vs. buying)?Assume that the payoff table provides cost rather than profit payoffs. What isthe recommended decision using:i. the optimistic approachii. the conservative approachiii. the minimax regret approachiv. the Laplace method
- Briefly explain these terms:a. Basic variableb. Shadow pricec. Range of feasibilityd. Range of optimality54|David is looking to purchase an old church building. He hires an appraiser to help determine the market value of the property. Why would the appraiser most likely value the property using the cost approach? O A church is a specialty building that will most likely not have any comparable properties. It is also not an income producing property, so the best method would be the cost approach. O The income capitalization approach should be used rather than the cost approach. O A church building will have at least three comparable properties to use to help determine the market value. O The church building will most likely have income, which when a capitalization rate is applied will help determine the market value6) Nicole has decided to go to school which costs her a total of P19,500 and give upi on a job that paid her P24,900 for the year. But instead, she can hope to earn P29,900 after she graduates. Nicole's opportunity cost amount to?a. P19,500 b. P24,900c. P29,900d. P5,000 7. Villanueva Enterprises reported the ff. information. What is the cost of goods manufactured in February?I. Jan. 2017 -job accumulated cost of P3,000ii. Feb. 2017 -the following costs were added to production: Job 1-P10,000 Job 2-P8,000Job 3-P7,000 III. Feb. 2017 Job 1 was completed and sold for P18,000 Job 2 was completed but not sold Job 3 remains in production b. P8,000c. P10,000 d. P13,000e. P21,000 8. Julie borrowed a certain amount from Diane on June 2016. Two years later, Julle i again borrowed P5,000. Julie decided to pay P1,000 on June 2019 and dischargei her balance by paying P7,500 on June 2021. What was the amount borrowed oni June 2016 if the interest rate is 8% compounded annually?a. P1,389.50 b.…
- 9.5 Capital Healthplans Inc. is evaluating two different methods for providing home health services to its members. Both methods involve contracting out for services, and the health outcomes and revenues are not affected by the method chosen. Therefore, the net cash flows for the decision are all outflows. Here are the projected flows: Year Method A ($) Method B ($) 0 (300,000) (120,000) 1 (66,000) (96,000) 2 (66,000) (96,000) 3 (66,000) (96,000) 4 (66,000) (96,000) 5 (66,000) (96,000) What is each alternative’s IRR? If the opportunity cost of capital for both methods is 9 percent, which method should be chosen? Why?Dash and Lily Corporation wanted to raise funds for the poor. The first prizefor a raffle is P500,000 (with aprobability of 0.001) and the second prize is P250,000 (with a probability of0.003). What is a fair price to pay for a single ticket in this raffle? a. Give: what are the given information. b. Requirement: what is requirement. c. Solution: show step by step solution d. Answer: what is the final answer e. Analysis: identify the use of the result in risk management1. Consider the decision table given below. Find which Profits NI N2 N3 N4 decision will be taken, as a function of c (a real number) according to a. Wald's criterion, Laplace's criterion, and Hurwicz's criterion (take a-0.6). b. Find the range(s) of c for which all three methods uniquely lead to same alternative. SI 3. 4 6. S2 2 4 S3 6. S4 6. 6
- A. A company is considering a new product launch. There is a 0.6 chance that demand for the product will be strong and a 0.4 chance that demand will be weak. Two strategies for the launch are possible: 1 has high promotion costs and a net cash outflow of K120 000 if demand proves to be strong, and if demand proves weak a net cash outflow of (K30 000) will result. Strategy 2 has low promotion costs and if demand is strong will generate a cash inflow of only K80 000 but with weak demand a net cash inflow of K20 000. i. Draw a decision tree and advise which course of action generates the greatest expected profit. ii. What is the maximum amount that should be paid for market research to determine with certainty whether demand will be strong or weak? B. Assume a loss exposure of K100 00 for which the probability is estimated to be .01. Insurance against loss from this exposure will cost K1500 annually. Should this exposure be insured or retained? Use the Minimax Regret strategy to…Please pick a specialized book that interests you and point to 4 examples that contain numerical data that can be used to make decisions under uncertainty.(a) Please list each item in each example.(b) Please identify (1) decision maker; (2) alternatives; (3) uncertainties in each example.1. Consider the following normal form game. a. Does either player have a dominant strategy? Explain. & Does either player have a dominated strategy? If so, identify them. c. Now consider iterative elimination of dominated strategies. Proceed as far as you can in this fashion to predict what outcomes we might observe when rational players play this game W Y 2. 2.1 7,3 2, 12 4,4 9.0 3.5 6, 8 1.3 B. 8.7 0,2 4.0 3,10 -1,4 0.-1 4,1 1,8 D.