Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
It can be seen from the optimal solution for the foundry problem that two resources, raw material-1 and labor, are exhausted whereas the other two resources, raw material-2 and foundry capacity, remain available. This implies that the availability of raw material-1 and labor are both exerting a restrictive effect on foundry operation and its profitability. Let us suppose, the foundry can buy the raw material-1 in the open market at a cost of Rs.15 per kg, then is it worth buying and increasing its production to make more profit? Similarly, if the foundry can hire extra labor for Rs.15 per day, then is it worth hiring the extra labor?
The above questions can be answered from the (Zj - Cj) values in the final tableau. The (Zj - Cj) value corresponding to variables S1, that is, column 6 is 20. This indicates that the profit can be increased by Rs.20 for a unit increase in the availability of raw material-1. Thus, if one kilogram of raw material-1 costs Rs.15, then by purchasing it and changing the product mix, the foundry can increase its profit by Rs.20 - Rs.15 = Rs.5. Similarly, the (Zj - Cj) value corresponding to the variable SL is 10 and this indicates that for a unit increase in the availability of labor, profit can be increased by Rs.10. Hence, it is worth hiring labor if its cost is less than Rs.10. Similarly, it is worth buying raw material-1 from open market, if its cost is less than Rs.20 per kg.
The information in the final tableau is also useful in studying the effects of the variations in the profit contributions on the product mix.
Line Balancing Methods - Heuristic Approach Heuristic mean serving to find i.e. to find out discover things for oneself. Heuristic describes a particular approach to problem so
a. Discuss the methodology of Operations Research.
Q1. a. What do you mean by linear programming problem? Explain the steps involved in linear programming problem formulation? b. A paper mill produces two grades of paper viz., X
an electric company which generates and distributes electricity conducted a study on the life of poles. tha appropriate life data are given in the following table: years after inst
Sample Size in Non Propbability The probability selection does not apply to purposive selection. The size of the non probability samples is selected in a subjective ma
difference between simplex solution procedure for maximisation and minimisation
Overhead Projector Overhead projector casts an images of the transparencies on a screen. Transparencies are frequently used visual aids especially when audience
CONSTRUCTION PROCEDURE The construction of an interview schedule or questionnaire is a time consuming task requiring considerable attention to all the details. The investig
a. What do you mean by linear programming problem? Explain the steps involved in linear programming problem formulation? b. A paper mill produces two grades of paper viz., X and Y.
Inherent forces fomenting conflicts of interest Several forces have coalesced to increase the incidence of conflicts of interest in the medical industry: the vertical integrat
what is post-optimality
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd