Question

write 150 words on your thoughts The statement by the manager of a large Cincinnati based...

write 150 words on your thoughts

The statement by the manager of a large Cincinnati based manufacturing firm does not have merit. The utility of the linear programming (LP) model cannot be denied because results cannot be absolutely certain or under the presumption that LP is only operable in certain conditions. The same is true about any mathematical model. LP model, or any other mathematical model for that matter, does not take all the uncertainties into account, and this fact does not invalidate the model itself.

The underlying assumption of this statement that LP is only operable under conditions of certainty is false. While LP assumes linear relationships between variables to be certain and tries to maximize efficiency, it also ensures that uncertainties may favorably or adversely affect these relationships momentarily but never invalidate the relationship itself (Render, Stair, Hanna, & Hale, 2015). For example, Product A will require two labor hours and five units of raw materials on average, while Product B will take twice the resources. LP will use this information, along with market demand and selling price, to determine the optimal production of the two products, while uncertainties will also exist. Uncertainty can affect the resource allocation for a single product, but it will not be relevant for the decision-making process for the whole year. If uncertainty is affecting the average, then LP is helping in process control by identifying the aspects out of control.

There are various fixes for uncertainties. Risks can be insured or hedged. Causes of uncertainties can be identified (assignable causes) and corrected to bring the process parameters within acceptable limits. These control procedures or safeguards are only possible when the whole decision-making process is brought under control of some rational model. LP is one of these models that provides understandable and straightforward relationships between various factors of the whole process.
0 0
Add a comment Improve this question Transcribed image text
Answer #1

The linear programming model can not be ignored in my opinion. since its Results can not be totaly certain se or under the por adversely affect these Relation ships. for examples- Any Product Requires theree workene hours and five units of Raw mater

Add a comment
Know the answer?
Add Answer to:
write 150 words on your thoughts The statement by the manager of a large Cincinnati based...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Respond with your thoughts 150 words Personally, I do not agree with the statement that purchasing power parity (PPP) and interest rate parity (IRP) are without any problems. Purchasing power parity,...

    Respond with your thoughts 150 words Personally, I do not agree with the statement that purchasing power parity (PPP) and interest rate parity (IRP) are without any problems. Purchasing power parity, though I do agree that it may be a useful method for comparing the market environments of different nations, has several imperfections. First and foremost, it is difficult to accurately assess the true value of goods across the globe. Granted, this may be the reasoning behind the so called...

  • Respond to the following prompt with your original thoughts, at least 200 words, utilize academic sources...

    Respond to the following prompt with your original thoughts, at least 200 words, utilize academic sources to support your point. Is the WACC an estimation of the real cost of capital(explicit cost of money) or an opportunity cost tied to a particular decision based on market required returns? You use the following points to discuss this question or utilize your own points. 1. Projects of different levels of risk should have different associated discount rates. 2. The WACC reflects the...

  • summarizr the followung info and write them in your own words and break them into different...

    summarizr the followung info and write them in your own words and break them into different key points.   6.5 Metering Chamber: 6.5.1 The minimum size of the metering box is governed by the metering area required to obtain a representative test area for the specimen (see 7.2) and for maintenance of reasonable test accuracy. For example, for specimens incorporating air spaces or stud spaces, the metering area shall span an integral number of spaces (see 5.5). The depth of...

  • Your Assignment ·     You are an outside consulting organization who has been retained by the CEO to...

    Your Assignment ·     You are an outside consulting organization who has been retained by the CEO to fix the problems and make sure the mandate is driven throughout the organization. identify what strategic initiatives and changes you will recommend and the tactics to implement those strategies and changes based on this case study New Product Development Process Improvement Case Study Background:          Horizon Giftables, Inc. is a 35-year-old consumer products company that manufactures and distributes home accessory products and décor items through...

  • Read the article below and in your own words, (1-2 sentences) what is the "true direction"...

    Read the article below and in your own words, (1-2 sentences) what is the "true direction" or right way to interpret nature, according to Bacon? True Directions Concerning the Interpretation of Nature (1620) Francis Bacon Those who have taken it on themselves to lay down the law of nature as something that has already been discovered and understood, whether they have spoken in simple confidence or in a spirit of professional posturing, have done great harm to philosophy and the...

  • OPS Practice quiz 2. The benefits of risk pooling depend on the behavior of demand from...

    OPS Practice quiz 2. The benefits of risk pooling depend on the behavior of demand from one market relative to demand from another. True False 3. What is Supply Chain Management? A set of approaches utilized to efficiently integrate suppliers, manufacturers, warehouses and stores so that merchandize is produced, distributed at the right quantities, to the right locations and at the right time in order to minimize system wide costs while satisfying service level requirements. The management of the flow...

  • I need Summary of this Paper i dont need long summary i need What methodology they used , what is the purpose of this...

    I need Summary of this Paper i dont need long summary i need What methodology they used , what is the purpose of this paper and some conclusions and contributes of this paper. I need this for my Finishing Project so i need this ASAP please ( IN 1-2-3 HOURS PLEASE !!!) SPECIAL ARTICLES tole of Monetary Policy C Rangarajan What should be the objectives of monetary policy? Does the objective of price stability conflict with the goal of achieving...

  • A new version of the operating system is being planned for installation into your department’s production...

    A new version of the operating system is being planned for installation into your department’s production environment. What sort of testing would you recommend is done before your department goes live with the new version? Identify each type of testing and describe what is tested. Explain the rationale for performing each type of testing. [ your answer goes here ] Would the amount of testing and types of testing to be done be different if you were installing a security...

  • 10. Write a one-page summary of the attached paper? INTRODUCTION Many problems can develop in activated...

    10. Write a one-page summary of the attached paper? INTRODUCTION Many problems can develop in activated sludge operation that adversely affect effluent quality with origins in the engineering, hydraulic and microbiological components of the process. The real "heart" of the activated sludge system is the development and maintenance of a mixed microbial culture (activated sludge) that treats wastewater and which can be managed. One definition of a wastewater treatment plant operator is a "bug farmer", one who controls the aeration...

  • Using the book, write another paragraph or two: write 170 words: Q: Compare the assumptions of...

    Using the book, write another paragraph or two: write 170 words: Q: Compare the assumptions of physician-centered and collaborative communication. How is the caregiver’s role different in each model? How is the patient’s role different? Answer: Physical-centered communication involves the specialists taking control of the conversation. They decide on the topics of discussion and when to end the process. The patient responds to the issues raised by the caregiver and acts accordingly. On the other hand, Collaborative communication involves a...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT