Resource Allocations
Resource Allocation Problems
Resource allocation problems are linear programming problems involving the allocation
of resources to activities.
The identifying feature for any such problem is that each functional constraint in the
li

Transportation Problems
Transportation & Assignment Problems
Transportation and assignment problems are two broad categories of linear
programming business decision problems with a wide variety of applications.
Both types of problems would be classified

Agriculutre Systems Management and Science
An understanding of Management Science provides us with:
1. An appreication for the relevance and power of management science.
2. Learn to recognize when M.S. can and cant be fruitfully applied.
3. Learn how to a

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Name one reason Juan Garza was fired.
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Give two reasons (one supply side & the
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that the price of farmland has gone up
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#1. My Favorite

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says Walmart has low distribution
costs
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Glacia was formulated to look o

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#1. What confli

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The Real Timothy Firnstahl is
#1 or
#2 or
#3
due to the fact that _
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CLICKER QUESTION
#1. The most important thing I learned
from James Fuqua was
CLICKER QUESTION
#2. The difference between an income
statement and a balance sheet is:
A. Timingthe income statement is a movie, the
balance sheet is a still shot
B. Only the ba

Gunderson |1
Sample6: Partnering to Make Food Safer
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P.98 Sample6 has developed a fast test for what food bacteria?
Sample6 had developed a food safety assay that was capable of detecting harmful Listeria spp.
Bacteria in the envir

Concepts of Business Management Models and Programs
BASIC MODEL BUILDING CONCEPTS
Decision Variables: Those variables under the control of the decision maker, representing
alternative choices.
Exogenous Variables: Those variables important to the decision

Decision Making Under Certainty:
A manufacturer introducing a new product in the marketplace.
A financial firm investing in securities.
An agricultural firm selecting the mix of crops and livestock for the upcoming
season.
Decision Analysis:
Provides

Decision Trees and Forecasting
Decision Trees
Represent a general approach for more complex decisions that is useful both for
structuring the decision problem and for finding a solution.
Analyzed by calculating the EMV for each node and choosing the alt

Linear Programming
Why Use Linear Programming?
Linear programs are easy (efficient) to solve
The best (optimal) solution is guaranteed to be found (if it exists)
Useful sensitivity analysis is generated
Many problems are essentially linear
Linear prog

Operations and Models Research
Operations Research
S.W.O.T. (strengths, weaknesses, opportunities, threats)
A commonly used management decision tool.
It provides no algorithm (procedure) to indentify the best alternative.
In the article A Business Executi

Sensitivity Analysis
Sensitivity Analysis
In real applications of linear programming, many of the parameters in the model may be
only rough estimates.
Benefits of sensitivity analysis:
What happens to the optimal solution if an error is made in estimati

Stimulation Concepts
Basic Simulation Concepts:
Computer simulation is one of the most widely used analysis technique of management
science/ operations research.
Flexible, powerful, and intuitive analysis tool.
Involves using a computer to imitate (sim

Systems Management Case and Problem
Management science- is a discipline that attempts to aid managerial decision
making by applying a scientific approach to managerial problems that involve
quantitative factors.
The rapid development of the discipline be

READ ME READ ME READ ME READ ME READ ME READ ME READ ME
Instructor: Dr. Kerry K. Litzenberg
212D AGLS Building
Office 845-7624 Home 696-0771
e-mail: litz@tamu.edu
Office Hours:
TTR 1:30 to 4:30 or by appointment
Students are encouraged to contact
Dr. Litz

AgEc340 Case Helper
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What product(s) or service(s) does this business sell?
Who are their customers? Their Suppliers? Competition? (All may not be presented.)
Where is the company in the food marketing chain? (May not be relevant