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Reptile [31]
3 years ago
10

A goal programming problem had two goals (with no priorities assigned). Goal number 1 was to achieve a profit of $2,400 and goal

number 2 was to have no idle time for workers in the factory. The optimal solution to this problem resulted in a profit of $2,300 and no idle time. What was the value for the objective function for this goal programming problem?
Business
1 answer:
topjm [15]3 years ago
7 0

Answer:

100

Explanation:

Goal programming is an optimization technique that allows for multiple, normally conflicting objectives and then attempts to solve each goal sequentially to a satisfactory level. In goal programming, differential variables are being used.

Since the goal programming problem had two goals. Goal number 1 was to achieve a profit of $2,400 and goal number 2 was to have no idle time for workers in the factory. The optimal solution to this problem resulted in a profit of $2,300 and no idle time

This means that goal number 2 was achieved since the optimal solution resulted in no idle time. But goal number 1 was not achieved because a profit of $2300 was achieved in the solution instead of $2400.

Therefore, the value for the objective function for this goal programming problem = 2400 - 2300 = 100

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Opportunity cost is also known as alternate cost.

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3 years ago
A business will want to borrow to undertake an investment project when the rate of return on that project is:
pychu [463]

Answer:

B) higher than the interest rate.

Explanation:

In the case when the business wants to borrow for a project so the rate of return would be greater than the rate of interest

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2 years ago
Currently, a company has units of safety stock for a product located in warehouses. The company is contemplating expanding to wa
xz_007 [3.2K]

Answer:

The full question is <em>"Currently, a company has 59,000 units of safety stock for a product located in 9 warehouses. The company is contemplating expanding to 28 warehouses. The company believes that this increased safety stock inventory investment with the new locations will result in an additional $950,000 in revenue due to improved customer service. Assuming that each unit in safety stock inventory costs $4, is the expansion to 28 warehouses a potentially good idea? The proposed plan Y sense for the company because the change in total profit is $. Enter your response rounded to the nearest dollar and include a minus sign if appropriate.)"</em>

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Current Total safety stock = 59,000

No. of warehouses = 9

Safety stock per warehouse = 59,000/9 = $6,555.56

New number of warehouses = 28

Increase in number of warehouses = 28 - 9 = 19

Increase in number of safety stock = 19 * 6,555.56 = 124,555.64

Cost of each unit of safety stock = $4

Cost of increased safety stock = $4 * 124,555.54

Cost of increased safety stock = $498,222.56

Additional revenue = $950,000

Since, additional revenue > additional cost of safety stock, the additional warehouses is a good idea.

Increase in profit = Additional revenue - Increased cost

Increase in profit = $950,000 - $498,222.56

Increase in profit = $451,777.54

Hence, The proposed plan makes sense for the company because the change in total profit is $451,777.54

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3 years ago
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Answer: Normal good

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Cassandra bought 16 clothes when her income was $40000 but when her income reduced to $35000, she bought less of the good. That means that the cotton blouses bought by Cassandra are normal good.

8 0
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Answer:

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For example, if you are a male, you tend to be more reckless. It also depends on the job you would be working at.

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