Wednesday, July 24, 2019

Business decision making Essay Example | Topics and Well Written Essays - 2250 words

Business decision making - Essay Example Under these forms of business analysis items, three major items need identification. These are the actual variables under consideration, the objective functions and the constraints involved in the development of the linear programming for production in a company. In the information provided, the variables available are X1 representing the bicycles produced and X2 representing the number of trucks to produce. The objective of this problem is to maximize profits to 16X1 and 14X2 respectively. Therefore, the total profits Z= 16X1+14X2. The objective function of this problem function here that is to maximize profits will be represented as Max Z= 16X1+14X2. For this problem, we seek an optimal solution that will optimize profits. Establishing the constraint, we have to identify the difficulty the organization is facing. That is limited resources of labor time. The total time required for the production of a bicycle and the truck is time taken in the lathe equation 2X1+1X2

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