Concept explainers
To determine: The circumstances under which the constraints are more important than the objective function in the linear programming problem.
Introduction:
Linear programming:
It is a linear optimization technique followed to develop a best outcome for the problem on hand. The outcome might be maximum profit or less cost which are represented by a linear relationship. The outcome will take into consideration the constraints present in achieving the solution.
Objective function:
It is a linear function representing a cost, profit or some other quantity. The motive of the objective function is to maximize or minimize a quantity taking the constraints into consideration.
Constraints:
The constraints are the limitation for a situation within which the process must operate. The constraints are the limits within which the available resources can be utilized so as to maximize or minimize a quantity.
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Operations Management
- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?arrow_forwardWhat is meant by parametric linear programming ?arrow_forwardDescribe what is meant by the assumption of linear programming?arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,