The Decision Maker Has Expressed Concern with Goal 1, Budget

question 66

Multiple Choice

The decision maker has expressed concern with Goal 1, budget, achievement. He indicated that future candidate solutions should stay under budget. How can you modify your goal programming model to accommodate this change?

• A) Make budget a hard constraint in the model.
• B) Give d₁⁺ an extremely large weight in the objective function.
• C) Remove d₁⁺ from the goal constraint.
• D) All of these.

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Definitions:

System 2

Described in cognitive psychological theory, it refers to the deliberate, effortful, and analytical mode of thinking, as opposed to fast, automatic thought processes.

Focusing

The act of prioritizing and dedicating attention to specific tasks or objectives to improve efficiency and achieve better outcomes.

Crowded

A term describing a market or sector that is saturated with competitors, making it difficult for new entries to gain a foothold.

Internal and External

Terms that differentiate between elements within an organization (internal) and factors outside of it (external) that influence business operations and strategies.