Cite some sources of nonlinearities that arise in the three components of problem formulation.
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Nonlinearities can occur in the three components of problem formulation which are: objective function, constraints, and decision variables.
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- The research department of Unilever Ltd has recommended to the marketing departmentto launch a shampoo of three different types. The marketing manager has to decide one ofthe types of shampoo to be launched under the following estimated pay offs for variouslevels of sales:Estimated levels of sales15, 000 10,000 5, 0001. Egg shampoo2. Clinic shampoo3. Deluxe shampoo3040551015201053What will be the marketing manager’s decision ifiv. Laplace criterion is used?v. Regret criterion is used?Read the following scenario and answer the question in 5–10 sentences. Corinne owns a small consignment shop located in the heart of Trader City. When she's away from the store looking for good deals at yard sales, her friend Sarah helps cover the store. Corinne has provided Sarah with specific instructions that she's allowed to come down 15 percent on prices for sales, but in no way is she to make any purchases. One Saturday, while Corinne was out at yard sales, Sarah was covering the store and made several sales throughout the day. At the end the day, a regular customer came into the store offering to sell Sarah various paintings for $200. Having previously met the customer, Sarah took a look at the paintings. She noticed that one of the paintings was rare and was worth around $2,500. Although being told by Corinne not to make any purchases, she was sure that Corinne would be pleased. With this in mind, Sarah decided to go ahead with the purchase. Corinne returned to the store later…Born in 1954, the Sarihusada Generasi Mahardhika Company (Sarihusada) is known as a strong player in the dairy business. SGM offers mother and child products to support their fulfillment of nutrition and health. Naturally, in a survey on the e-commerce market, SGM is a strong player in the market for baby milk. Sarihusada, which has a factory in Yogyakarta, has also worked on the e-commerce market for its baby milk products. Its products are available in e-commerce in Indonesia, such as Orami, Tokopedia, Shopee, Bukalapak, JD.ID, Blibli, and Lazada SGM entered e-commerce since 2016. “The products we offer in the e-commerce market are of the same quality as those in conventional markets. However, in e-commerce we offer a different shopping experience, because consumers can enjoy the convenience of shopping anywhere and anytime while getting more educational information," said Widianto Juwono, Sales Director of Danone Specialized Nutrition Indonesia who manages the marketing of SGM…
- Determine the type of business analytics for the following scenarios. A. Imagine you are a meteorologist. You have to foretell the weather for the next two weeks by analysing the data from the satellites. Here, you have to apply advanced statistical, information software, or operations research methods to identify predictive variables and build predictive models. Discuss in detail which type of business analytics will be suitable for this scenario.The president of a small chain of women’s clothing stores was concerned about a four-year trend of decreasing profits. The stores have been characterized as being rather conservative over the years with respect to their product line, store decor, and advertising. They have consistently avoided trendy clothes, for example. Their market is now becoming extremely competitive because several aggressive fashion stores are expanding and are aiming at the young, fashion-conscious buyer. As a result of this competition and the disappointing profit trend, the president is considering making the product line appear less conservative and more oriented toward the young buyer. Before making such a risky change, the president feels it prudent to conduct some marketing research to learn the exact status of his chain. What should be the research purpose? Compose a set of research questions that would be helpful.PAF KIET’s management is eagerly looking for a BI solution as they want to gain insights into students’ data to improve their academics. They have bulk of data on paper, Excel and in MIS but it is really difficult for them to analyze the data. The University has various faculties. Each faculty has several courses and each course has several students. Each faculty is running various programs and has permanent and visiting faulty members. For a broader perspective, University management wants a solution that can provide following insights. Students admissions Students Pass versus Fail ratio Top students Male versus Female ratio Permanent versus Visiting faculty ratio For each course, teacher versus students Number of research paper produced in a year Number of projects done in a semester per faculty Draw a Dashboard using DAR approach clearly showing metrics and dimensions as described in the case study
- A decision table describes results associated with which of the following A) Two decision variables B) One decision variable and one uncertain variable C) Two uncertain variables D) None of the aboveDescribe the importance of forecasting in decision making procss of private sector and the government.Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four should have, based on the current age of the head of the household. The equation is:y = 850 − .1xwherey = Insurance needed ($000)x = Current age of head of household a. Plot the relationship on a graph. b. Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 30 years old.