Problem 1: A manager wishes to purchase seats for a new cinema. He wishes to buy three types
of seat: standard, deluxe and majestic. He decides that the total number of deluxe and majestic
seats should be at most half of the number of standard seats. The
11/12/2012
MATHEMATICAL APPLICATIONS
FOR BUSINESS (MTH171)
Lecture 9
Introduction to Linear Programming
1
LEARNING OBJECTIVES
Identify Linear Programming (LP) problems
Understand the basic assumptions and properties
of Linear Programming
Formulate Line
11/12/2012
MATHEMATICAL APPLICATIONS
FOR BUSINESS (MTH171)
Lecture 10
Introduction to Linear Programming with
Excel Solver
1
Review Lecture 9
What are Linear Programming (LP) problems?
What are the properties of LP problems?
How to formulate LP problem
11/12/2012
MATHEMATICAL APPLICATIONS
FOR BUSINESS (MTH171)
Lecture 8
Introduction to Inventory Control Models
1
LEARNING OBJECTIVES
Understand the importance of inventory control and its
decisions
Use Economic Order Quantity (EOQ) to determine how
much
1/14/2013
MATHEMATICAL APPLICATIONS
FOR BUSINESS (MTH171)
Lecture 7
Annuities and other Financial Instruments
1
Objectives
Understand annuities and be able to compute
the present value of an annuity.
Understand mortgages and other payments by
installmen
10/26/2012
Mathematical Applications For
Business (MTH171)
Lecture 6
Regular Payments
1
Objectives
Recognize and evaluate a geometric
progression:
Geometric progression vs. arithmetic progression
Geometric ratio and geometric series
Calculate the tota
10/23/2012
Mathematical Applications For
Business
Lecture 4
Present Values and Depreciation
1
Contents
Discounting process and Present Values
Depreciation methods:
Linear Depreciation
Reducing Balance Depreciation
2
Discounting and Present Value
$100
10/26/2012
Mathematical Applications For
Business (MTH171)
Lecture 5
Investment Appraisal
1
Contents
Investment and Investment Appraisal
Non-discounting techniques:
Payback period (PBP)
Average rate of return (APR)
Discounting techniques:
Net presen
12/18/2012
MATHEMATICAL APPLICATIONS
FOR BUSINESS (MTH171)
Lecture 2
Applying Calculus in Business & Economics 2
1
Objectives
Understand the link between marginal
analysis and differentiation process. Be able to
use marginal analysis in economics.
Under
12/18/2012
Mathematical Applications For
Business (MTH171)
Lecture 3
Introduction to Financial Mathematics
1
Objectives
Understand concept of time value of money
Understand differences between simple and
compound interests
Distinguish among different t
LECTURE 2
3
Solving linear programming problems: the Simplex Method
(Chapter 4.1-4.8, 4.11-4.14, 6.2 )
3.1
Standard form of the LP-problem
All main constraints are equations.
All variables are nonnegative.
In general, the standard form of an LP-problem
Optimization Methods
Draft of August 26, 2005
II. Analysis of Linear Programming Solutions
Robert Fourer
Department of Industrial Engineering and Management Sciences Northwestern University Evanston, Illinois 60208-3119, U.S.A. (847) 491-3151
[email protected]
Linear Programming Notes I: Introduction and Problem Formulation
1 Introduction to Operations Research
Economics 172 is a two quarter sequence in Operations Research. Management Science majors are required to take the course. I do not know what Management
Geometric series formula
A geometric series includes n items in which the next item is equal to the previous item
multiplied by a ratio called geometric ratio.
The sum of n items is:
(1)
(2)
()
()
(
)
Formulae for computing PV and FV of an annuity:
If com
1. What is time value of money? What are simple and compound interest? How to calculate
future or present value of an amount of money if either simple or compound interest is
applied?
2. $20,000 is invested at 10%. What would be the future amount after 20
1.
With the demand function: P = 200 3Q, what is the price
elasticity of demand when the price is 10?
Is demand elastic, inelastic, or unit elastic to price in the above
case?
2.
This graph is for the following questions.
a) What is the value of the slope
12/17/2012
MATHEMATICAL APPLICATIONS
FOR BUSINESS (MTH171)
Lecture 1
Applying Calculus in Business & Economics 1
1
Objectives
Understand rates of changes and the process
of differentiation.
Be able to use differentiation process to
determine turning poi