MAT week 8

MAT week 8 - applications Explain why or why not using...

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What is the relationship between decision variables and the objective function? Decision variables are values that a decision maker can change while objective function is a mathematical expression that shows the linear relationship between the decision variables and the goal that is the focus of the model. The objective function is a measure of goal attainment. Such as goals are total profit, total cost and market share. What is the difference between an objective function and a constraint? Objective function is a linear relationship that reflects the objective of an operation which provide maximized the profit and minimized the cost of a model while constraint is a linear relationship that represents a restriction or limited on decision making. (Taylor III, 2011, p.30). Reference: Taylor, B. W. III (2011). Introduction to management science . Boston, MA: Pearson Learning Solutions Does the linear programming approach apply the same way in different 
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Unformatted text preview: applications? Explain why or why not using examples. Yes, linear program consists of a set of decision variables, the parameters, the objective function, and a set of constraints. In formulating a given decision problem in mathematical form, you should practice understanding the problem by carefully reading and re-reading the problem statement. objective function is set up to fulfill the decision-maker’s desire (objective), According to Arsham the constraints which shape the feasible region usually comes from the decision-maker’s environment putting some restrictions/conditions on achieving his/her objective. However, the way we approach the problem is the same for a wide variety of decision-making problems, and the size and complexity may differ. Taylor, B. W. III (2011). Introduction to management science. Boston, MA: Pearson Learning Solutions...
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This note was uploaded on 02/10/2012 for the course MAT 540 taught by Professor Dralexander during the Spring '11 term at Strayer.

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