MGMT 1050 Quiz: stats book summary notes pt3
Document Summary
The q. m. in action, tea production and distribution at duncan industries. Limited, illustrates the diversity of problem situations in which linear programming can be applied and the importance of sensitivity analysis. In the next chapter we will see many more applications of linear programming. Chapter 9 linear programming applications in marketing, finance, and. Operations management a broad range of applications that demonstrate how to use linear programming to assist in the decision-making process. We formulated and solved problems from marketing, finance, and operations management, and interpreted the computer output. Many of the illustrations presented in this chapter are scaled-down versions of actual situations in which linear programming has been applied. In real-world applications, the problem may not be so concisely stated, the data for the problem may not be as readily avail- able, and the problem most likely will involve numerous decision variables and/or constraints.
