June 2006
Beginner
793 pages
20h 59m
English
Content preview from Quantitative Techniques: Theory and Problems
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PRACTICAL STEPS INVOLVED IN SOLVING MAXIMISATION PROBLEMS
| Step 1 → | See whether Number of Rows are equal to Number of Columns. If yes, problem is a balanced one; if not, then add a Dummy Row or Column to make the problem a balanced one by alloting zero value or specific value (if any given) to each cell of the Dummy Row or Column, as the case may be. |
| Step 2 → | Derive Profit Matrix by deducting cost from revenue. |
| Step 3 → | Derive Loss Matrix by deducting all elements from the largest element. |
| Step 4 → | Follow the same Steps 2 to 9 as involved in solving Minimisation Problems. |
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