​Which of the Operations Management Applications Modeled in the Text

question 25

Multiple Choice

​Which of the operations management applications modeled in the text has an objective function that minimizes the sum of manufacturing costs, purchasing costs, and overtime costs?

• A) ​make-or-buy decision
• B) ​blending
• C) ​production scheduling
• D) ​workforce assignment

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Definitions:

Market Value

The ongoing cost at which a commodity or service is available for buying or selling in the market.

Shares Outstanding

The total number of a company's shares that are currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.

Par Value

The face value of a bond or stock as stated by the issuing company, which does not necessarily reflect market value.

Stock Split

A corporate action where a company divides its existing shares into multiple shares to boost the liquidity of the shares, although the overall value of ownership remains the same.