A market research firm has three clients who have each requested that the firm conduct a sample survey. Four statisticians are available to assign to these three projects: However, all four statisticians are busy, and therefore each can handle at most one of the clients. The following data show the number of hours, it would take for each statistician to complete each job, the differences in time are due to differences in experience and ability among the statisticians. Statistician Client A В 1 150 210 270 2 170 230 220 180 230 225 4 160 240 230 a) Formulate a linear programming (LP) model for this problem. 3.

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Breakeven Analysis

Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.

Process analysis

The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.