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QUESTION ONE a) Operations Research involves the use of mathematical models to aid in better decision making. Clearly de
Posted: Mon Jul 11, 2022 12:49 pm
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- Question One A Operations Research Involves The Use Of Mathematical Models To Aid In Better Decision Making Clearly De 1 (670.93 KiB) Viewed 25 times
QUESTION ONE a) Operations Research involves the use of mathematical models to aid in better decision making. Clearly define the following models and indicate cases in which each of them is used. i). EOQ (5 marks) ii) Multiple regression (5 marks) iii). PERT (5 marks) b) Consider the following linear programme: Min x1+x2 s.t x1+2x227 solution. 2x1+x225 X1+x2 >11 X1, x2 20 i). Solve this problem using graphical procedure approach (8 marks ii) Calculate the range of optimality for the objective function x1: (3 marks iii) suppose the objective function coefficient x1 is increased to 1.5, find the new optimal. (4 marks)