NM April,May 2023 assignment help – A consumer goods company has set following pay off table for the sales returns of their product. Three strategi es (S1, S2, and S3) are identified to deal with three uncertain natures (N1, N2, and N3).
NM April,May 2023 assignment help – A consumer goods company has set following pay off table for the sales returns of their product. Three strategi es (S1, S2, and S3) are identified to deal with three uncertain natures (N1, N2, and N3).
Decision Analysis & Modeling
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Solve the below Transportation problem where a company has 3 plants P1, P2 and P3. Profit per unit from each plant to each warehouse is given in rupees. (10 Marks)
Warehouse Plant |
W1 |
W2 |
W3 |
Capacity |
P1 |
58 |
56 |
60 |
2000 |
P2 |
50 |
54 |
46 |
2000 |
P3 |
70 |
74 |
76 |
2000 |
Warehouse |
1500 |
3000 |
1500 |
60006000 |
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A consumer goods company has set up following pay off table for the sales returns of their product. Three strategies (S1, S2, and S3) are identified to deal with three uncertain natures (N1, N2, and N3).
S1 |
S2 |
S3 |
|
N1 |
800 |
500 |
300 |
N2 |
350 |
300 |
100 |
N3 |
400 |
550 |
0 |
You are required to identify right strategy under following criteria:
1) Maximin 2) Minimax regret 3) Laplace (10 Marks)
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a. Explain the concept of perfect information while taking decision under risk with an example? (5 Marks)
3.b. How to detect and find alternate optimal solution or multiple optimal solutions in simplex? (5 Marks)
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