Decision Analysis & Modeling – Solve the following problem: Maximize Z = 40a + 35b Subject to: 4a + 6b <= 120 8a + 6b <= 192 and a and b both are nonnegative.

12 Apr

Solve the following problem: Maximize Z = 40a + 35b Subject to: 4a + 6b <= 120 8a + 6b <= 192 and a and b both are nonnegative.

 

Decision Analysis & Modeling

1. Decision Analysis involves a systematic decision making process. Explain the approaches to the study of Decision Analysis and Modeling with a suitable example.

2. Explain the application of simulation in business analysis.

3. a. Solve the following problem:

Maximize Z = 40a + 35b

Subject to: 4a + 6b <= 120

8a + 6b <= 192 and a and b both are nonnegative.

3. b. What is the difference between the assumption of linearity and continuity in LPP?

 

 

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