Connect Online Access for Operations Management
Connect Online Access for Operations Management
14th Edition
ISBN: 9781260242355
Author: William J. Stevenson
Publisher: Mcgraw-hill Higher Education (us)
bartleby

Concept explainers

Question
Book Icon
Chapter 19, Problem 7P

a)

Summary Introduction

To determine: The range of feasibility for each constraint.

Introduction:

Linear programming:

Linear programming is a mathematical modelling method where a linear function is maximized or minimized taking into consideration the various constraints present in the problem. It is useful in making quantitative decisions in business planning.

Range of feasibility:

It is the range of the values present in the right hand side quantities of a constraint. The shadow prices and variables attained in the solution will remain the same for the right hand side quantities.

b)

Summary Introduction

To determine: The range of optimality for the coefficients of the objective function.

Introduction:

Linear programming:

Linear programming is a mathematical modelling method where a linear function is maximized or minimized taking into consideration the various constraints present in the problem. It is useful in making quantitative decisions in business planning.

Range of optimality:

It is the range of values at which the coefficient of the objective function of a decision variable will change without changing either the list of the variables in the optimal quantities or the solution.

Blurred answer
Students have asked these similar questions
1) View the video What is Operations Management  (14.01 minutes, Ctrl+Click on the link); what are your key takeaways (tie to one or more of the topics discussed in Chapters 1 and/or 2) after watching this video. (https://www.viddler.com/embed/d01189e1)       Note: As a rough guideline, please try to keep the written submission to one or two paragraphs.       2) View the video What McDonald’s is serving up at its new CosMc’s Chain (3.42 mins, Ctrl+Click in the link), and answer the following questions: (https://www.youtube.com/watch?v=k7ojpUzE8q4)       i) From a strategic perspective, why do you think McDonald’s is opting for this new chain rather than trying to launch the new menu in its existing restaurants?   ii) What factors do you think in McDonald’s external and internal environments are driving its decision to open the CosMc’s locations?   iii) How do you think this format will improve McDonald’s profit margin as compared to its regular fast-food restaurants?       Note: As a…
Since the end of World War II, globalization has steadily increased with rapid expansion around the turn of the 21st century. What are some of the forces driving globalization and international business? What are some of the challenges of engaging in international business compared to doing business in your home country?
PS.53 Brother I.D. Ricks is a faculty member at BYU-Idaho whose grandchildren live in Oklahoma and California. He and his wife would like to visit their grandchildren at least once a year in these states. They currently have one vehicle with well over 100,000 miles on it, so they want to buy a newer vehicle with fewer miles and that gets better gas mileage. They are considering two options: (1) a new subcompact car that would cost $18,750 to purchase or (2) a used sedan that would cost $12,750.They anticipate that the new subcompact would get 37 miles per gallon (combined highway and around town driving) while the sedan would get 26 miles per gallon. Based on their road tripping history they expect to drive 13,000 miles per year. For the purposes of their analysis they are assuming that gas will cost $2.93 per gallon.Question: How many miles would the Ricks need to drive before the cost of these two options would be the same? (Display your answer to the nearest whole number.) (Hint:…
Knowledge Booster
Background pattern image
Operations Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Text book image
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L