ADMS 3331 Lecture Notes - Lecture 2: Dollar Sign, Goal Programming, Cash Flow
11 Oct 2017
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Chapter 7 - goal programing (gp): optimization technique subject to constraints that can be violated: lp with soft constraints representing a target you would like to achieve. Chapter 3: solving lp problems graphically is only possible when there are two decision variables, few real-world lp have only two decision variables, fortunately, we can now use spreadsheets to solve lp problems. Blue ridge hot tubs produces two types of hot tubs: aqua-spas & hydro-luxes. There are 200 pumps, 1566 hours of labor, and 2880 feet of tubing available. Taco-viva needs a construction fund to pay building costs for a new restaurant in the next 6 months. Payments of ,000 are due at the beginning of months 3 and 5, and a final payment of ,000 is due at the beginning of month 7. All returns from investments must be immediately reinvested. Ai = amount (in ,000s) placed in investment a at the beginning of month i=1, 2, 3, 4, 5, 6.
