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Introductory Management Science Fourth Edition
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Optimality and Sensitivity. In this text you will encounter many mathematical models for business problems. and you will see that these models produce
optimal solutions. That sounds great?what could be better than an optimal solution? But language can be deceptive if you do not have a thorough understanding of the concepts behind it. In this context. an optimal solution is one that gives the best answer to the mathematical problem formulated in the model-for example. an answer that maximizes profits. But is it the best answer to the real-world problem that prompted us to make the model in the first place? This is what a manager must decide ?preferably. before implementing the recommendations of the model.
Whether or not to implement a particular recommendation is always a judgment call. but the quality of this judgment will depend heavily on how well the manager understands the relationship between the model and the real problem it is designed to mirror.
It is also important to assess the sensitivity of the answer-that is. how much the answer given by a model depends on the particular numerical values used for the model's parameters. Managers are usually most comfortable with decisions that hold for a wide range of parameter values. so that a good decision cannot suddenly be transformed into a bad one by a small change in one parameter. Sensitivity analysis is thus an important topic throughout this text.
optimal solutions. That sounds great?what could be better than an optimal solution? But language can be deceptive if you do not have a thorough understanding of the concepts behind it. In this context. an optimal solution is one that gives the best answer to the mathematical problem formulated in the model-for example. an answer that maximizes profits. But is it the best answer to the real-world problem that prompted us to make the model in the first place? This is what a manager must decide ?preferably. before implementing the recommendations of the model.
Whether or not to implement a particular recommendation is always a judgment call. but the quality of this judgment will depend heavily on how well the manager understands the relationship between the model and the real problem it is designed to mirror.
It is also important to assess the sensitivity of the answer-that is. how much the answer given by a model depends on the particular numerical values used for the model's parameters. Managers are usually most comfortable with decisions that hold for a wide range of parameter values. so that a good decision cannot suddenly be transformed into a bad one by a small change in one parameter. Sensitivity analysis is thus an important topic throughout this text.
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Informasi Detail
- Judul Seri
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4
- No. Panggil
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658.403 EPP i
- Penerbit
- New Jersey : Prentice-Hall., 1993
- Deskripsi Fisik
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810
- Bahasa
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Inggris
- ISBN/ISSN
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0-13-503582-1
- Klasifikasi
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658.403
- Tipe Isi
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-
- Tipe Media
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- Tipe Pembawa
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- Edisi
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4
- Subjek
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