The steps of the assignment solution method are:
1. Perform row reductions by subtracting the minimum value in each row from all row values.
2. Perform column reductions by subtracting the minimum value in each column from all column values.
3. In the completed opportunity cost table, cross out all zeros, using the minimum number of horizontal or vertical lines.
4. If fewer than m lines are required (where mthe number of rows or columns), sub-tract the minimum uncrossed value from all other uncrossed values, and add this same minimum value to all cells where two lines intersect. Leave all other values unchanged, and repeat step 3.
5. If m lines are required, the tableau contains the optimal solution and m unique assignments can be made. If fewer than m lines are required, repeat step 4
Yes,if the opportunity cost of an assignment that is not part of the optimal solution equals zero,then there must be multiple optimal solutions.
An Assignment problem can have more than one optimal solution, which is called multiple optimal solutions. The meaning of multiple optimal solutions is – The total cost or total profit will remain same for different sets or combinations of allocations. It means we have the flexibility of assigning different allocations while still maintaining Minimum (Optimal) cost or Maximum (Optimal) profit.We can detect multiple optimal solutions when there are multiple zeroes in any columns or rows in the final (Optimal) table in the Assignment problem.
Like a transportation problem, an assignment model can be unbalanced when supply exceeds demand or demand exceeds supply. For example, assume that, instead of four teams of officials, there are five teams to be assigned to the four games. In this case a dummy column is added to the assignment tableau to balance the model. In solving this model, one team of officials would be assigned to the dummy column. If there were five games and only four teams of officials, a dummy row would be added instead of a dummy column. The addition of a dummy row or column does not affect the solution method.
If the opportunity cost for an assignment that is not part of the optimal solution equals...
True or False? 1. If an LP has multiple optimal solutions, then all solutions have the same objective function value (such as total profit or cost). 2. As long as all prices (objective coefficients) change within their respective ranges, the optimal solution of a linear program does not change. 3. When a dual price changes within its range, the optimal solution does not change. 4. The solution of a linear program always consists of whole numbers (integers). That is why...
Why is normal profit an opportunity cost? Normal profit is . Normal profit is part of a firm's opportunity cost because O A. the profit used by the IRS to calculate tax owing: it is paid in cash OB. the return that an entrepreneur can expect to receive on the average; it is not paid in cash O C. the profit used by the IRS to calculate tax owing: part of it must be paid to the government and is...
Discuss the difference between implementing the optimal solution to a problem versus implementing one of the many acceptable solutions. Under what conditions is the cost of searching for the optimal solution beyond an acceptable solution justified
Choose the correct statement: A. The opportunity cost of an activity is constant, regardless of the time of day at which you pursue the activity B. The opportunity cost of an activity you do not enjoy is zero. C. The opportunity cost of doing more of an activity is the opportunity cost of the activity. D. The opportunity cost of something is the highest-valued alternative that must be given up to get it.
(a) Can there be multiple optimal solutions to an assignment problem? How to identify such situations? (b) Explain PERT and its importance in network analysis. What are the requirements for application of PERT techniques?
To discover optimal substructure we must show that an optimal solution to the overall problem provides an optimal solution to the subproblems. True or False
1. (6 points) Find an optimal solution for the following transportation problem using the minimal cost method and the transportation algorithm: Minimize lahi + 2x12 + 2x13 + 4x21 + 3x22 + 4x23 + 4x31 + 1x32 + 3x33, subject to the constraints X11 + X12 + X13 = 100. x21 +x22 +x23 = 50. r31 + 232 +x33 100 x11 + 2'21 +2'3,-150. 12 22+32-50 x13 + x23 + x33-50. for all i, j = 1.2.3. xij > 0,...
Prove (in general) that any point on the line segment connecting two distinct optimal solutions of a canonical linear programming problem is an optimal solution. Deduce that any canonical linear programming problem has either zero, one, or infinitely many optimal solutions.
List five (5) examples of opportunity cost when you choose to complete your assignment.
If a project's expected rate of return exceeds its opportunity cost of capital, one would expect: Multiple Choice the opportunity cost of capital to be too low. the project to have a positive NPV. the NPV to be zero.