The functions which states determinants of the quality to be either maximized or minimized is called as:

A. Feasible function.

B. Optimal function.

C. Criterion function.

D. Sustainability function.

E. Objective function.

Choose the correct answer from the options given below:

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UGC NET Paper 2: Management 30th Sep 2020 Shift 1
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  1. A, B and C only
  2. C and D only
  3. C and E only
  4. C, D and E only

Answer (Detailed Solution Below)

Option 3 : C and E only
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UGC NET Paper 1: Held on 21st August 2024 Shift 1
50 Qs. 100 Marks 60 Mins

Detailed Solution

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 Important PointsAn objective function is a requirement of linear programming.

  • The objective function is a means to maximise (or minimise) something. 
  • A primary objective criterion or objective aim, such as maximising profits or productivity or reducing costs or consumption, is represented by an objective function.
  • The system's access to resources, such as people, materials, machines, or time, is practically always constrained.
  • The choice variables are used as the inputs to linear equations that represent these limitations.
  • Finding actual values for the choice variables that optimise the objective function while taking restrictions into account is the process of solving a linear programming issue.
  • An objective function which states the determinants of the quantity to be either maximised or minimised is called a criterion function.
  • Criterion functions are those that specify factors that should either be maximised or decreased with respect to quality.

Additional Information

  • An approach to issue solving called linear programming was created to assist managers in making decisions.
  • When there are multiple uses for resources such as money, personnel, materials, equipment, and other resources, linear programming is a mathematical technique for identifying the best allocation of those resources and achieving a specific goal.

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