By Jo Avis
Read or Download CIMA Revision Cards: Decision Management (CIMA Revision Cards) PDF
Similar managerial books
Protecting Clients from Fraud, Incompetence and Scams
Shield your consumers – and your self – from every kind of economic chicanery and stupidity with this very important new bookIt does not topic if a monetary mistakes was once made due to malice or lack of expertise – the outcome is that you simply lose cash. fortunately, you do not have to take a seat idly and take it. when you have holding consumers from Fraud, Incompetence and Scams, you could establish and keep away from the dysfunctional sectors of the monetary undefined, stay away from the fallout from the Madoff period, and consultant your consumers to actual, fit, sustainable returns.
Restructuring the stability sheets of Western governments, banks and families is a crucial factor within the restoration after the hot difficulty. Chorafas' most recent publication makes a speciality of sovereign debt, sovereign chance and the constructing fiscal and monetary company weather and explains why the yr of the massive drawback could fall in the course of this decade.
Strategic Value Analysis: Organize Your Company for Strategic Success (Executive Briefings)
Price research underlies the luck and competitiveness of best jap businesses corresponding to Toyota. First created as an engineering product layout technique within the States, it was once as a result taken up through jap businesses who built and more desirable the procedure right into a significant managerial instrument incorporating accounting details, and used it to minimize product price and increase product performance and cost for patrons.
Risk and Return in Asian Emerging Markets: A Practitioner’s Guide
Possibility and go back in Asian rising Markets bargains readers a company perception into the chance and go back features of major Asian rising industry individuals by way of evaluating and contrasting behavioral version variables with predictive forecasting equipment.
- Essentials of Knowledge Management
- An Introduction to Accounting and Managerial Finance - A Merger of Equals
- Banking in Turmoil: Strategies for Sustainable Growth
- Kosten- und Leistungsrechnung der Bilanzbuchhalter: Mit Übungsklausuren für die IHK-Prüfung (German Edition)
Extra info for CIMA Revision Cards: Decision Management (CIMA Revision Cards)
Example text
The number of units of B produced must be double the number of units of A x1 þ x2 ! 20 x1 100 Feasible region 80 Constraints 60 K x2 ! 2x1 Products A and B must be manufactured in the ratio 2 : 7 7x1 ¼ 2x2 A,B,C,D,E - extreme points 40 20 A E B C D 20 40 x2 60 80 100 27 ————————————————————————————————————————— Linear Programming Slack and surplus The optimal solution can be used to determine which of the constraints are binding. Insert the amounts to be produced of each unit into each constraint Surplus is concerned with ‘greater than or equal to’ constraints Production > Minimum required ) surplus created Example Where a constraint is binding, obtaining more of it would increase contribution Optimal solution is 10u of x, and 28u of x2 For constraint 3x1 þ 10x2 330, insert the solution: 3(10) þ 10(28) ¼ 310 Slack/surplus can then be calculated 330 À 310 ¼ 20 slack Slack is concerned with ‘less than or equal to’ constraints Usage < Amount available ) slack available 28 ————————————————————————————————————————— ––––––––––––––––––––––––––––––––––––––––––– Linear Programming Shadow prices and opportunity costs Definition Shadow price is the increase in value that one extra unit of a limiting resource would create.
G. A technique for allocating scarce resources between products to maximise the benefit from them when there is more than one limiting factor Let x2 ¼ no. of units of product B made 2. Study tip 3. Let x1 ¼ no. g. g. Machine hours 3x1 þ 10x2 330 Where a unit of A takes 3 hrs to machine, a unit of B takes 10 hrs and the total hours available are 330 4. g. Product A x1 ! 0 1. e. g. g. K 5. Draw 2 axes Plot all the constraints as straight lines Identify and mark the feasible region Determine the values of the decision variables at the extreme points of the feasible region and, for each, the corresponding value for the objective variable Choose the largest answer (maximisation) or the smallest (minimisation) Total combined output of products A and B must be at least 20 units K 1.
Insert the amounts to be produced of each unit into each constraint Surplus is concerned with ‘greater than or equal to’ constraints Production > Minimum required ) surplus created Example Where a constraint is binding, obtaining more of it would increase contribution Optimal solution is 10u of x, and 28u of x2 For constraint 3x1 þ 10x2 330, insert the solution: 3(10) þ 10(28) ¼ 310 Slack/surplus can then be calculated 330 À 310 ¼ 20 slack Slack is concerned with ‘less than or equal to’ constraints Usage < Amount available ) slack available 28 ————————————————————————————————————————— ––––––––––––––––––––––––––––––––––––––––––– Linear Programming Shadow prices and opportunity costs Definition Shadow price is the increase in value that one extra unit of a limiting resource would create.