Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
bartleby

Concept explainers

Question
Book Icon
Chapter 3, Problem 43P
Summary Introduction

To determine: The things to do when the unbounded message is the result of the solver solution.

Introduction: In linear programming, the unbounded solution would occur when the objective function is infinite. If no solution satisfied the constraints, then it is said to be an unfeasible solution.

Blurred answer
Students have asked these similar questions
Apply Linear Programming to the Folling Question: Dan Reid, chief engineer at New Hampshire Chemical, Inc., has to decide whether to build a new state-of-art processing facility. If the new facility works, the company could realize a profit of $200,000. If it fails, New Hampshire Chemical could lose $150,000. At this time, Reid estimates a 60% chance that the new process will fail. The other option is to build a pilot plant and then decide whether to build a complete facility. The pilot plant would cost $10,000 to build. Reid estimates a fifty-fifty chance that the pilot plant will work. If the pilot plant works, there is a 90% probability that the complete plant, if it is built, will also work. If the pilot plant does not work, there is only a 20% chance that the complete project (if it is constructed) will work. Reid faces a dilemma. Should he build the plant? Should he build the pilot project and then make a decision? Help Reid by analyzing this problem
Which of the following is true?   a)The maximin criterion is an approach in Optimization under uncertainty     which finds a solution that has the best possible payoff.   b)The maximin criterion is an approach in Optimization under uncertainty     which finds a solution with the best worst possible payoff.   c)A risk profile represents the probability distribution of uncertain inputs.   d)Decision tree is a method to solve any optimization problem when the outcomes are subject to uncertainty.
I need 3 answers
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,