Problem 36 - Algebra and Trigonometry

Question

Members of the group should interview a business executive who is in charge of deciding the product mix for a business. How are production policy decisions made? Are other methods used in conjunction with linear programming? What are these methods? What sort of academic background, particularly in mathematics, does this executive have? Present a group report addressing these questions, emphasizing the role of linear programming for the business.

Step-by-Step Solution

Answer

The report should capture insights from the interview held with the business executive, with primary focus on linear programming's role in their decision-making process regarding production policy and product mix. Descriptions of any auxiliary methods used and the influence of the executive's mathematical background on their approach may be significant points in the report.

Step 1: Prepare for the Interview

Gather all necessary information about the business to better tailor questions. Understand what product mix and production policy are, and comprehend the basics of linear programming.

Step 2: Develop the Questions

Formulate questions pertaining to the topics of interest like: Can you explain how production policy decisions are made? How often do you use linear programming while deciding on the product mix? And, what other methods are employed in conjunction with linear programming?

Step 3: Conduct the Interview

Fix a schedule with the business executive and conduct the interview. Be a good listener, make sure to take detailed notes during the interview process.

Step 4: Analyse the Responses

Critically analyze the responses given by the executive. Identify and highlight key points that relate to the role of linear programming in decision making, other methods used, and the executive's mathematical background.

Step 5: Create the Report

Based on the findings from the interview, construct an organized group report addressing all the questions provided in the exercise. Emphasise the role of linear programming within the business.