This website uses cookies to ensure you have the best experience.

21. Describe How Or Why Integer Programming Or Goal Programming Or Nonlinear Programming (Choose One) Might Be Used In A Real World Business Situation. Be As Specific As You Can And Use Examples As Appropriate

1137 words - 5 pages

21. Describe how or why integer programming OR goal programming OR nonlinear programming (choose ONE) might be used in a real-world business situation. Be as specific as you can and use examples as appropriate.
Goal programming is an aid for decision-making problems with multiple, possibly conflicting goals. Typically, linear goal programming attempts to minimize a weighted sum of deviations from goals. This program is used in real-world business in an attempt to eliminate or, at the least, mitigate this disquieting disconnect. Goal programming is the most widely applied tool of multiple-objective optimization/multicriteria decision making. However, today’s goal programming models, ...view middle of the document...

S. Navy torpedoes
• As well as a host of problems in the general areas of agriculture, finance, engineering, energy, and
resource allocation.

Example: Numerical Illustrations
Any single-objective problem, and most multiple objective ones, can be placed into a model format that has been designated as the multiplex model, and then solved via the most appropriate version of a multiplex
(or sequential goal programming) algorithm. For example, consider a conventional (albeit simple)
linear programming problem taking on the following traditional form:
Maximize z 10x1 4x2 (1)
Subject to: x1 x2 100 (2)
x2 4 (3)
x 0 (4)

The multiplex example model

22. Now that you’ve come to the end of the course, what role do you think that quantitative methods can have for a business firm and/or its manager? Support your answer with examples.

I believe that the quantitative methods play a bigger role today in the business world because of the growing need to gain competitive edge over other markets. Business firms need more knowledge and data to analyze and find out what the next course of action should be for the firm both in short and the long run. Decision making process forces and obligates managers to access options and choices by keeping into consideration as many variables at once as possible. This process is available by using quantitative methods because it provides the help the firms need in the search for creative and comfortable solutions for difficult decision. The plan is to analyze and explore the importance of quantitative aids for managers in assisting the process of decision making. It will seek to describe some of the most common quantitative decision making tools and analyze their use and importance to managers in business today for effective decision making.
The need for quantitative methods in business in the current technology age, where every company or firm wants to go global and the only source of promoting their product can only be achieved through the internet. Decision Analysis is the method which is based on the use of quantitative decision making techniques for decisions where uncertainty exists and the outcomes are not known to managers. This technique is used to break the complicated methods or data into smaller chunks and then recombined after the data is refined to be used for the decision makers need. The most important goal of decision analysis is to draw a clear line of distinction between the choices and the distinctiveness of the...

Other Papers Like 21. Describe How Or Why Integer Programming Or Goal Programming Or Nonlinear Programming (Choose One) Might Be Used In A Real-World Business Situation. Be As Specific As You Can And Use Examples As Appropriate

Choose A Medical Condition That Interests You And Research It. Write About The Possible Uses Of Hypnosis In The Treatment Of The Condition As You See Them

2409 words - 10 pages Nick Sharpe 2177 words Choose a medical condition that interests you and research it. Write about the possible uses of hypnosis in the treatment of the condition as you see them. I will be looking at the impact that chronic illnesses have on a person’s life with particular reference to the illness Myalgic encephalomyelitis’ (M.E

To Be Or Not To Be

506 words - 3 pages , thirty-six just getting my GED, and going back to college. I update my kids on the process of my new life path, and tell them of all the hard work it takes. I feel great to hear my kids say “I’m proud of you dad”. In my final analysis, I really hope that you guys will be able to help me out. I really need this, and I will kindly appreciate it if you can help. I am saying this from a person who knows what it is like without an education. It is truly hard to find a job, and to hold on to it. That’s why I hope you will be able to make a miracle for me. I hope that you will be able to help me better myself, and get to the goal I am trying to reach.

In Vietnamese Culture, What Should Be Considered As Rites Of Passage Of A Mature Person?

623 words - 3 pages "Maturity begins to grow when you can sense your concern for others overweighing your concern for yourself " - John Mac Naughton once said. It is particularly true in Vietnam where men who can not be regarded as a mature person until he gets his first baby, even though they might have already got a well-paid job and married a good woman. In my opinion, having the first child is the most important event marking the maturity of a people in both

Save As Many As You Ruin

1005 words - 5 pages ded by mysteries and something supernatural e.g.: “All of a sudden he feelsa chill like cold water down his back” (l. 199). This supernatural atmosphere starts immediately after he thinks of Issy, and together with the sentence ; “But in the space between him and the world he can see only air, only air and the auras of the day past and day to come” (l. 201-202) it shows thereader that Gerard always will be haunted by the mother of his child

As The World Changes

323 words - 2 pages with a petite woman advertising a fancy gown or swimwear she may switch what she eats and drinks just so she can become the size that society believes is beauty. The different life cycle stages individuals go through can push them to change. When men and women feel the need to elevate their lifestyle, they may choose to fine tune their education, the place where they reside, and/or their career choice. People need to know the greatest way to set new paths and a different direction in their life is to know and be aware of their motivation to progress.

You Can Be What Ever You Want To Be

360 words - 2 pages , Doing what you wanted to do, Simply because you had the courage To believe in your potential And to hold on to your dream. Change Your World You cannot change the world, But you can present the world with one improved person - Yourself. You can go to work on yourself to make yourself Into the kind of person you admire and respect. You can become a role model and set a standard for others. You can control and discipline

How Personal Can Ethics Be

1488 words - 6 pages organization, there is no way an individual can be treated the same way as the other employees because everyone’s personality is difference. “Perhaps one employee has a dynamic personality and prefers being the center of attention in every discussion, whereas others avoid crowd and enjoy being alone.” (Griffin, 2009) However, that would be the personality that represents the overall profile of stable psychological attributes which

2411 words - 10 pages society, within all its hierarchical levels, stresses the importance of personal relationships and family connections as well. In addition to this, a major factor that in my view is important for all the Middle East region, since this essay states how the educational level of female entrepreneurs in KSA is higher than the one of self -employed people: once again, the investment in education is considered to be something whose potential can be

What Are Some Ethical Or Legal Issues Faced By Quality Managers In Your Organization Or In An Organization With Which You Are Familiar Or In General? How Are These Issues Best Addressed?

483 words - 2 pages example, hospitals. The combination of ethical and legal issues can best be sought after a specific improvement in quality management has been achieved. Particularly, issues in the field of trustworthiness and business related productivity appear to be fitting for reconciliation. A blend of a regulating and bottom up quality methodology is by all accounts the best approach. The government could invigorate the acknowledgment of combination of

What You Do So Well As A Customer Service Representative

371 words - 2 pages customer feel like they are #1. How do you overcome the most difficult/challenging aspect of your job? Challenges in customer service inevitably come with the territory and three issues come to mind. First and foremost, a customer may not be happy with the product, may be unsatisfied with the service, or is not happy in general. Customer’s can be irate over the littlest thing. It can be detected in the first minute of the call, if

Focusing Marketing Efforts On Specific Groups: Teenagers Or Youth

3502 words - 15 pages Focusing Marketing Efforts on Specific Groups: Teenagers or Youth Philip Kotler cited that in Marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retailing, products are called merchandise. In manufacturing, products are bought as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but a commodity can also be anything widely

Related Essays

Object Oriented Programming Java Essay

4819 words - 20 pages your solution. Provide justifications why you think one design is better than the other, among the two designs (task a, task b) you proposed for the above scenario. You can use your knowledge on OOP concepts, design patterns & business domain specific knowledge to support your answer. I have developed point on sale system which has SQL lite as backend. Through this system managers or sales person can manage stocks, prescriptions, and drugs

Introduction To Programming Essay

269 words - 2 pages 1. How do modules help you to reuse code in a program? a. By standardizing different functional modules so they do not have to be designed, written and tested again. For examples: Personal information and credit card processing. They also reduce the duplication of code within a program by reusing the module that was written once. 2. Name and describe the two parts that a module definition has in most languages. a. A header and a body

“Why Banning The Use Of Cell Phones While Driving Should Be Mandatory Nationwide” Title: Why Banning The Use Of Cell Phones While Driving Should Be Mandatory Nationwide? A. General Purpose: Persuade...

322 words - 2 pages “WHY BANNING THE USE OF CELL PHONES WHILE DRIVING SHOULD BE MANDATORY NATIONWIDE” TITLE: Why Banning the Use of Cell Phones While Driving Should Be Mandatory Nationwide? A. General Purpose: Persuade B. Specific Purpose: Persuade my audience that banning the use of cell phones while driving should be mandatory nationwide. C. Central idea: Cell phones are as common in the market today as a wrist watch on your arm. Everyone has one

In Business Environment, Why Should People Be Moral As Individuals

856 words - 4 pages remember what was said or very little of it anyway and the other reason is from decay which is where information that is not used somehow just goes away whereas new information is coming in all the time and what you don’t use will disappear. Another reason for memory loss is being struck on the head, it will not last but if damage occurs then it could last forever. Retrieving information can be very hard if it was not encoded the right way. If you use examples with words that help you to remember them it is easier to pull them from your gray matter when they have gotten mixed up.