goal programming, Operation Research

Assignment Help:
A farmer in the Midwest has 1,000 acres of land on which she intends to plant corn, wheat, and

soybeans. Each acre of corn costs $100 for preparation, requires 7 worker-days of labor, and yields a

profit of $30. An acre of wheat costs $120 to prepare, requires IO worker-days of labor, and yields $40

profit. An acre of soybeans costs $70 to prepare, requires 8 worker-days, and yields $20 profit. The

farmer has taken out a loan of $80,000 for crop preparation and has contracted with a union for 6,000

worker-days of labor. A midwestern granary has agreed to purchase 200 acres of corn, 500 acres of

wheat, and 300 acres of soybeans. The farmer has estab­lished the following goals, in order of their

importance:

(I) To maintain good relations with the union, the labor contract must be honored; that is, the full

6,000 worker-days of labor contracted for must be used.

(2) Preparation costs should not exceed the loan amount so that additional loans will not have to be

secured.

(3) The farmer desires a profit of at least $105,000 to remain in good financial condition.

(4) Contracting for excess labor should be avoided.

(5) The farmer would like to use as much of the available acreage as possible.

(6) The farmer would like to meet the sales agreement with the granary. However, the goal should

be weighted according to the profit returned by each crop.

a. Formulate a goal programming model to determine the number of acres of each crop the farmer

should plant to satisfy the goals in the best possible way.

b. Solve this model by using the computer.

Related Discussions:- goal programming

Research essay, how Network Scheduling solving a real problem in a real bus...

how Network Scheduling solving a real problem in a real business .

Linear programming simplex method, How to solve linear programming problems...

How to solve linear programming problems using simplex method introducing slack variable,surplus variable and artificial variable

Applications of statistics in management, In a business, statis...

In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research

Inventory control research, Given an inventory system where Yearly demand ...

Given an inventory system where Yearly demand = 120 units Ordering cost = Sh. 45 Price per unit = Sh. 200 Annual carrying cost = 24% of the unit cost Determine The economic or

DECISION MODELS, CRITICAL EXAMINATION OF THE APPLICATION OF DECISION THEORY...

CRITICAL EXAMINATION OF THE APPLICATION OF DECISION THEORY TECHNIQUES OR MODEL IN BUSINESS DECISION MAKING IN NIGERIA

Linear programming, A paper mill produces two grades of paper viz., X and Y...

A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i

Institutional Characteristics - information resources, Institutional Charac...

Institutional Characteristics:  An approach to an understanding of the fields of interest of individuals to be served and of the organisation as a whole could begin by acquiri

Line balancing, what happen if line balancing does not exist

what happen if line balancing does not exist

LPP, A paper mill produces two grades of paper viz., X and Y. Because of ra...

A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i

Duality, For every LP formulation there exists another unique linear ...

For every LP formulation there exists another unique linear programming formulation called the 'Dual' (the original formulation is called the 'Primal'). Same data

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd