The simplex method, Managerial Accounting

Assignment Help:

The Simplex Method

In the graphical solution the optimum solution is always associated with a corner (or extreme) point of the solution space. The simplex method is based fundamentally on this idea. It employs an iterative process that starts at a feasible corner point normally the origin, and systematically moves from one feasible extreme point to another until the optimum point is eventually reached.

There are two rules that govern the choice of the next extreme point in the simplex method.

1) The next corner point must be adjacent to the current one.

2) The solution can never go back to a previously considered extreme point.


Related Discussions:- The simplex method

What is production cost, What is Production cost It begins with the sup...

What is Production cost It begins with the supplying of materials, labour and services and ends with the primary packing of the product. Therefore, it includes the cost of d

Determine the distribution cost and research cost, Determine the Distributi...

Determine the Distribution cost and Research cost Distribution cost: The cost of sequence of the operations which begin with making the packed product available for dispa

The f–test , The F–test    The significance of the regression results...

The F–test    The significance of the regression results can be tested by using the F- statistics. The F-statistics is a ratio which compares the explained sum of squares and t

Summary journal entries, Stine Company uses a job order cost system. On May...

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,730 and two jobs in process: Job No. 429 $2,150, and Job No. 430

Define case study of orion financial management, Case study of Orion Financ...

Case study of Orion Financial Management - Portfolio Management? Maria Gilbert is a principal in the company of Orion Financial Management. For 20 years she was chief investm

Research, Activity Based costing and Functional Based Costing compare them ...

Activity Based costing and Functional Based Costing compare them together in terms of efficiency, advantages, disadvantages and accuracy.

Determine the scope and areas of cost reduction, Determine the Scope and ar...

Determine the Scope and areas of cost reduction Scope and areas of cost reduction the scope of cost reduction is so wide that it is not practicable to develop fully the areas i

Explain standard costing according to backer and jacobsen, Explain standard...

Explain standard costing according to backer and Jacobsen According to backer and Jacobsen, standard cost is the amount the firm to measure the variation from standard costs th

Orders per year , Lila Battle has determined that the annual demand for num...

Lila Battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who works in her brother's hardware shop, is in charge of purchasing. She estimates t

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