Production mix using lin ear programming

Reference no: EM13995644

Many decisions are simple, preprogrammed, or already solved. For example, retailers do not have to think long to decide how to deal with a new customer. Some operations- research models provide "ready-made" decisions, such as finding an optimal inventory level using an order-quantity formula or determining an optimal production mix using lin ear programming. Contrast these decisions with unstructured or strategic decisions, such as choosing a career or locating a nuclear power plant. What kinds of decisions are appro priate for a decision-analysis approach? Comment on the statement, "Decision making is what you do when you don't know what to do." (For more discussion, see Howard 1980.)

Reference no: EM13995644

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