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Lecture 3

BU275 Lecture 3: BU-275 Lecture 3
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2 Pages
15 Views
Winter 2018

Department
Business
Course Code
BU275
Professor
David Wheatley
Lecture
3

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BU-75 Lecture
Transportation Problems
We are shipping grain from 3 farms to 2 cities
Farms nears towns A,B,C
Cities at 1,2
Objective is to ship all the supply at the lowest total cost
Decision Variables:
Let x represent tonnes shipped from farm to city
Xa1 Xa2 Xb1 Xb2 Xc1 Xc2
Objective Value:
12Xa1+8Xa2+7Xb1+5Xb2+6Xc1+9Xc2
Constraints:
Xa1+Xa2<=200
Xb1+Xb2<=100
Xc1+Xc2<=300
Xa1+Xb1+Xc1=250
Xa2+Xb2+Xc2=350
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Description
BU-275Lecture3 Transportation Problems We are shipping grain from 3 farms to 2 cities Farms nears towns A,B,C Cities at 1,2 Objective is to ship all the supply at the lowest total cost Decision Variables: Let x represent tonnes shipped from farm to city Xa1 Xa2 Xb1 Xb2 Xc1 Xc2 Objective Value: 12Xa1+8Xa2+7Xb1+5Xb2+6Xc1+9Xc2 Constraints: Xa1+Xa2<=200 Xb1+Xb2<=100 Xc1+Xc2<=300 Xa1+Xb1+Xc1=250 Xa2+Xb2+Xc2=350 Note: This problem is balanced, in that the total supply = total demand In a balanced problem, both supply and demand constraints can be equal Or, supply = and demand <= Or, supply <= and demand = If unbalanced with more supply than demand, it must be supply <= demand = If unbalanced with more demand than supply, use supply= demand <= Investment Problems We have a basket of assets Assets Annual Return Risk Factor 1. Bonds 3% 10% 2. Bank Stock 6% 30% 3. Tech Stock 20% 70% We have 10,000 dollars to invest, and we want to maximize our annual return with a weighted risk factor of at most 50%
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