For the Transportation Problem Below, Construct an Initial Feasible Solution

question 3

Essay

For the transportation problem below, construct an initial feasible solution using the intuitive method.
$$\begin{array} { | l | r | r | r | r | r | } \hline \text { COSTS } & \text { Dest. 1 } & \text { Dest. 2 } & \text { Dest. 3 } & \text { Dest. 4 } & \text { Supply } \\\hline\text { Source 1 } & 12 & 18 & 9 & 11 & 45 \\\hline\text { Source 2 } & 19 & 7 & 30 & 15 & 145 \\\hline \text { Source 3 } & 8 & 10 & 14 & 16 & 50 \\\hline\text { Demand } & 80 & 30 & 70 & 60 & 240 /240 \\\hline\end{array}$$

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Definitions:

Lifetime Earnings

The total amount of money a person is expected to earn over the course of their career.

Marginal Cost

The charge incurred from the production of an extra unit of a product or service.

Ring Tones

Digital files used on mobile phones to indicate an incoming call or message.

Efficient Market

A market theory that suggests all available information is already reflected in stock prices, hence investments cannot consistently outperform the market.