Discuss various steps of Goal Programming
model formulation. How does GP help in decision making ?
Goal Programming (GP) is a mathematical optimization technique widely used in Operations Research for decision-making in situations where multiple, often conflicting objectives need to be satisfied simultaneously. GP helps decision-makers find solutions that balance these conflicting goals. The process of formulating a Goal Programming model involves several steps, and it ultimately aids in making informed decisions. Here are the various steps involved in Goal Programming model formulation and how GP helps in decision-making:
1. Identify the Objectives:
- The first step in Goal Programming is to identify and define the objectives of the decision problem. Objectives represent what you want to achieve. These objectives can be related to cost minimization, profit maximization, resource utilization, or any other relevant criteria.
2. Define Deviation Variables:
- After identifying the objectives, the next step is to define deviation variables for each objective. Deviation variables represent the extent to which the achieved
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Dual of an LPP
A repair shop attended by a single machine has an average of four customers an hour who bring small appliances for repair. The mechanic inspects them for defects and quite often can fix them right away or otherwise render a diagnosis. This takes him six minutes, an average. Arrivals are Poisson and service time has exponential distribution. Determine
(i)the portion of time during which the shop is empty.
(ii)the probability of finding at least 1 customer in the shop.
(iii)the average number of customers in the system.
(iv)the average time spent, including service.
Dynamic Programming
Solve the following game by using the dominance method.
PLAYER B
B1 B2 B3
PLAYER A Al
A2
A3
3
6
8
—3
3
8
4
3
6
A manufacturer requires 15000 units of a part annually for assembly. Manufacturer can produce this at the rate of 100 per day. Set up cost for each production run is Rs. 24/- . to hold one unit of this part in inventory will cost Rs. 5/- per year. Determine the optimum manufacturing quantity and the optimum number of production run in any year.
What functions does inventory perform ?
State the two basic inventory decisions management must make in order to accomplish the functions of inventory just describe by you.