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Big-M Method The Big-M method of handling instances with artificial  variables is the “commonsense approach”. Essentially, the notion is to make the artificial variables, through their coefficients in the objective function, so costly or unprofitable that any feasible solution to the real problem would be preferred, unless the original instance possessed no feasible solutions at all. But this means that we need to assign, in the objective function, coefficients to the artificial variables that are either very small (maximization problem) or very large (minimization problem); whatever this value,let us call it Big M . In fact, this notion is an old trick in optimization in general; we  simply associate a penalty value with variables that we do not want to be part of an ultimate solution(unless such an outcome is unavoidable). Indeed, the penalty is so costly that unless any of the  respective variables' inclusion is warranted algorithmically, such variables will never be p

Simplex method is an iterative procedure that allows to improve the solution at each step. This procedure is finished when it isn't possible to improve the solution. Simplex method is based on the following property: if objective function, F, doesn't take the max value in the A vertex, then there is an edge starting at A, along which the value of the function grows. You should take care about Simplex method only works with "≤" type inequality and independent coefficients higher or equal to zero, and you will have to standardize the restrictions for the algorithm. Case after this procedure "≥" o "=" type restrictions appear (or not modified) you should try other ways, being Two-Phase Simplex method the best choice. Model of the problem is prepared to adapt it to the Simplex Method This is the standard way of the model: Objective function: c 1 ·x 1  + c 2 ·x 2  + ... + c n ·x n Subject to: a 11 ·x 1

What is Optimization? Optimization problem: Maximizing or minimizing some function relative to some set, often representing a range of choices available in a certain situation. The function allows comparison of the different choices for determining which might be “best.” Common applications: Minimal cost, maximal profit, best approximation, optimal design, optimal management or control, variational principles. Definitions of Operational Research ·          “OR is concerned with scientifically deciding how to best design and operate man-machine system usually requiring the allocation of scare resources.” – Operations Research Society, America ·          “OR is essentially a collection of mathematical techniques and tools which in conjunction with system approach, are applied to solve practical decision problems of an economic or engineering nature’’. – Daellenbach and George ·          “OR utilizes the planned approach (updated scientific method) a

                                                E-Commerce Question Bank What is the difference between e-commerce and  e-business portal? Discuss the seven unique features of E-commerce technology? Discuss E-commerce I and II? Contract their pros and cons? Discuss evolution of Internet in detail? Discuss C2C model in detail? What do you understand by  EDI? Explain working of EDI with example? How can EDI be used by a Manufacturing company Courier Company Discuss potential limitations of e-commerce in detail? What are the basic components of  EDI? How does it work? What are the benefits of the EDI? What are possible challenges? What is information symmetry? Give examples of B2C,B2B,C2C,P2P? How are the Internet and the web similar to or different from other technologies that have changed commerce in the post? Discuss key technologies of WWW? What are be