Problem 3: Consider the following linear programming problem: Min s.t. 6X5Y+24Z -4X + 3Y +9Z ≤ 509 2X + 5Y17Z = 221 10X + 11Y + 32Z > 261
Q: In the above question Athena Grocery is able to increase the month en salvage price to $ 0.69 /pack.…
A: The optimal order quantity is a crucial factor in the success of any business. It is the number of…
Q: Given the following demand data, compute a simple exponential smoothing forecast for alpha values of…
A: The exponential smoothing forecast is a type of forecast which is used for time series data. It is…
Q: q10- What is the best description of Granger-causality? Select one: a. the ability of lags of…
A: Ans) Granger Casuality means usefulness of one variable to predict or forecast another variable. It…
Q: 4. What role does inventory management play in an overall business plan and describe the benefits of…
A: One of the most essential aspects of each and every business plan is inventory. Inventory management…
Q: Flores Manufacturing, Inc., is moving to kanbans to support its electronic-board assembly lines.…
A: Ans) Input Data: Setup Cost= S = $16 Annual Holding Cost subassembly = H = $250 Daily Production = p…
Q: Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells…
A: Ans) Basic Table Calculation: Mean and other Calculation: Linear Equation:
Q: Pam’s demand for hats is normally distributed with mean 500 and standard deviation 100. She sells…
A: Optimal order quantity is a term used in the business world to describe the number of units that…
Q: Solve the following Assignment Problem using Hungarian method. PERSON 1 3x N W TASK 2 3 8 20 15 17 X…
A: The number of rows = 4 and columns = 4 1 2 3 4 W 8 20 15 17 X 15 16 12…
Q: Explain when you think a baseline should be updated and why.
A: A project baseline is a saved version of your project's initial schedule that can be used to compare…
Q: A crew of mechanics at the Highway Department garage repair vehicles that break down at an…
A: Given that, λ = 15 Vehicles per hour. Average μ = 3 vehicles every 10 minutes 3*60/10=3*6 = 18…
Q: What skills do you think must be available when implementing the project?
A: Project implementation is the significant stage to ensuring that processes & plans are…
Q: What is the probability that the boat dock will be idle? (b) What is the average number of boats…
A: Queueing theory is a branch of mathematics that studies the behavior of queues. Queueing theory…
Q: What is the best EC security strategy for my company?
A: The strategies that companies want to employ to market or promote their digital store and increase…
Q: The units of Manganese Plus available for sale during the year were as follows: Mar. 1 June 16 Nov.…
A: Given data: Unit Cost per unit Amount 1-Mar Inventory 23 29 667 16-Jun Purchases 32 30…
Q: What is the mean absolute percent error of the following forecasts? Actual Demand Period 1 800 700…
A: Mean absolute percentage error (MAPE) is the average of the absolute values of the difference…
Q: Choose a business that you would be interested in opening in your community. How would you decide…
A: Demographics: Think about your main interest group and where they're found. Research different…
Q: The table below shows the sales figures for a brand of shoe over the last 12 months. Months January…
A: Forecasting method is the method that determines the future values according to the previous years'…
Q: Prior to conducting double exponential smoothing a simple linear regression is conducted and the…
A: Double exponential smoothing computes a trend equation through the data using a special weighting…
Q: You are the manager of a project to improve a billing process at your firm. The table below contains…
A: The first step here would be to construct a network diagram and find out the critical path and the…
Q: What are the consequences of shipping and receiving errors?
A: Shipping errors are the mistakes made in the process of shipping. Receiving errors are mistakes made…
Q: 4. Tom would like 3 pints of home brew today and an additional 6 pints of home brew tomorrow. Dick…
A:
Q: The table below shows the sales figures for a brand of shoe over the last 12 months. Months Sales…
A: (i) (ii)
Q: To cut the number of projects, the steering committee used a weighting scheme that reflected the…
A:
Q: Using trend projection, develop a formula to predict sales for years 11 and 12. You have to show all…
A: A trend line is a straight line that is fitted through a set of data points in order to extrapolate…
Q: a. What is the project's duration if only nom The project duration is day(s). (Enter y
A: Critical path is a project management technique that helps in the planning and scheduling of a…
Q: The critical path method is a. capital oriented b. personnel oriented c. activity oriented d.…
A: Project management is the specific form of management that assists in handling projects To set it…
Q: Case Study: Apple is famous for its attractive and highly prized electronics, including iPhones, Mac…
A: Business Environment - In today's era of globalization and digitization, it has become difficult for…
Q: A sampling of the output of a billing process discovered that 5,200 out of 42,000 invoices contained…
A: Given, Sample size = 42000 Errors in sample = 5200 42000 -> 5200 1000000 -> ?
Q: Solve using dual simplex method Maximize Xo = X1 + 2x2-3x3 + 4X4 -X1 + 2x2 + x3 3x4 = 5 6X1 +…
A: Problem is Max Z = x1 + 2 x2 - 3 x3 + 4 x4 subject to - x1 + 2 x2 + x3 -…
Q: The fourth and final phase of the project life cycle.…
A: In project management, the project lifecycle delivers predictability & provides the manager a…
Q: Formulate Watson's production-mix decision as a linear programming problem, and solve. How many…
A: Here, I would formulate the LP, which is stated below, The number of coffee table=X1 The number of…
Q: Mr. John produces a special type of shoes on an assembly line. The process involves eight different…
A: To ensure the smooth flow of work in a product line, assigning tasks to workstations with…
Q: Discuss the main differences between Level 4 (Predictable Organizations) and Level 5 (Optimizing…
A: Utilizing performance review technologies could help businesses increase productivity, spot problem…
Q: The forecast error in a given time period is obtained by subtracting the actual value of the…
A: Forecasting shows the procedure of taking more instructed projections by utilizing recorded info as…
Q: Why is it important to have ongoing efforts to ensure justice, equity, diversity, and inclusion in…
A: A workplace is a second home for the employees. More than half of the time is spent at the work…
Q: A company produces drinks in liters (33.8 oz.) and single serving (16.9 oz.) containers that utilize…
A: Here, I would formulate the LP, The decision variables are stated below, The number of litre…
Q: Dundas Bike Components Inc. of Wheelville, Illinois, manufactures bicycle wheels in two different…
A: a. It will be possoible for David to develop just one aggregate plan if time taken on both the…
Q: A regional bank training center has the physical ability to handle 1,300 participants. However,…
A: Given: Design capacity (D)= 1300 Effective capacity (E) =1100 Actual capacity (A) = 990
Q: Problem 12-2 (Algo) A local distributor for a national tire company expects to sell approximately…
A: Annual demand = D = 9780 tires Annual carrying cost per tire = H = $18 Ordering cost = S = $85 No.…
Q: chain analysis. Critically discuss the primary value chain activities ( Inbound logistics,…
A: The systems that a business or organization employs to generate revenue are combined into a value…
Q: If the annual demand is 14,000, the number of working days is 330 in a year, and the delivery lead…
A: As per guideline, expert can only solve first question ' s sub part. So please upload remaining part…
Q: economics in supply chain management
A: Social-economic, political, governmental, or environmental problems that have an impact on the…
Q: is it possible to show the formula in a excel spreadsheet, so i can have a better understanding.
A: Formulae used: Adjusted exponential smoothing method:- Ft=FITt-1+ α (At-1 – FITt-1) Tt= Tt-1+ β(Ft–…
Q: Amelio Rodríguez Computing wants to establish an assembly line for producing a new product, the…
A: Given, Target = 180 PDAs per hour Available time = 1 hour = 3600 seconds
Q: What is the mean arrival rate in jobs per hour? (Round your answer to four decimal places.) per hour…
A: Note: We are allowed to do the first three sub-parts only. The queueing theory is a branch of…
Q: Jabez Contractors installs network routers. Using the CPM method and in reference to the table…
A: The critical path method is one of the methods to manage large-scale projects, managing timelines,…
Q: If the part fails and a spare is not available, it will take The cost for idle equipment is $500 per…
A: The optimal order quantity is the number of units a company needs to order to get the best possible…
Q: What is the slack time for activity C? The slack time for activity C is days. What is the project…
A: Given information:
Q: She must travel to Kenya to check on quality and transportation. The trip will cost $2,500. The…
A: Cost of the trip (C) = 2500 Cost of handbag (S) = 10 Shipping cost through the postal system (P) = 2…
Q: why organizations maintain raw material inventory
A: Companies that produce things for a profit must endeavor to ensure effective raw material management…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 7 images
- Lemingtons is trying to determine how many Jean Hudson dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with mean 400 and standard deviation 100. The contract between Jean Hudson and Lemingtons works as follows. At the beginning of the season, Lemingtons reserves x units of capacity. Lemingtons must take delivery for at least 0.8x dresses and can, if desired, take delivery on up to x dresses. Each dress sells for 160 and Hudson charges 50 per dress. If Lemingtons does not take delivery on all x dresses, it owes Hudson a 5 penalty for each unit of reserved capacity that is unused. For example, if Lemingtons orders 450 dresses and demand is for 400 dresses, Lemingtons will receive 400 dresses and owe Jean 400(50) + 50(5). How many units of capacity should Lemingtons reserve to maximize its expected profit?The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.a.) Formulate a LP model of this problem
- Briefly explain these terms:a. Basic variableb. Shadow pricec. Range of feasibilityd. Range of optimalityCalculating outcomes as equally likely would BEST describe: O a. Maximax criterion O b. Laplace criterion O c. Regret criterion Od. Maximin criterion Determining the average payoff for each alternative and choosing the one with the BEST payoff is the approach called: ea, maximax O b. minimax regret O c. laplace Od maximin 2Four qualified postgraduate students are to be allocated to four professors. The preference given by student (scale 1-10) is shown as table below. Student A В C D Professor James Jordan Janet 7 8 6. Jessy 5 8. 7 (a) Formulate a linear programming model for the problem. [NOTE: Please use x, where i = 1, 2,...,n -Professor and j=1, 2,...,m -Student to represent your decision variables.] (b) From the output below, what is the optimal allocation plan and what is the total preference scales obtained from the allocation plan? Model Variable Original Value Final Value Value x11 1 1 Value x12 1 Value x13 1 Value x14 Value x21 Value x22 Value x23 1 1 1 1 1 Value x24 1 Value x31 Value x32 Value x33 1 1 1 1 Value x34 1 Value x41 1 Value x42 1 Value x43 1 Value x44 1 1 699 445
- Problem 16-15 (Algorithmic) Strassel Investors buys real estate, develops it, and resells it for a profit. A new property is available, and Bud Strassel, the president and owner of Strassel Investors, believes if he purchases and develops this property it can then be sold for $160,000. The current property owner has asked for bids and stated that the property will be sold for the highest bid in excess of $100,000. Two competitors will be submitting bids for the property. Strassel does not know what the competitors will bid, but he assumes for planning purposes that the amount bid by each competitor will be uniformly distributed between $100,000 and $150,000. Develop a worksheet that can be used to simulate the bids made by the two competitors. Strassel is considering a bid of $130,000 for the property. Using a simulation of 1000 trials, what is the estimate of the probability Strassel will be able to obtain the property using a bid of $130,000? Round your answer to 1 decimal place.…A mining company brings up a land purchase project for 61,000 TL. in order to extract coal. The annual net income of the coal mine is estimated at TL 20,000. At the end of the 10-year useful life, the company is obliged to spend 150.000 TL to make the land suitable for agriculture. Is the project suitable since the annual interest rate is i=10%? Solve according to NBD anal ysis..3 II | Here are the changes to the original problem and the revised conditions for this decision-making problem: With a favorable market, John Thompson thinks a large facility would result in a net profit of $195,000 to his firm. If the market is unfavorable, the construction of a large facility would result in $185,000 net loss. A small plant would result in a net profit of $110,000 in a favorable market, but a net loss of $25,000 would occur if the market was unfavorable. Doing nothing would result in $0 profit in either market conditions. a) Create a decision table, b) What is your recommendation if you would apply the Maximax criterion (Optimistic)? Follow the guidance from your textbook and create a table. c) What is your recommendation if you would apply the Maximin Criterion (Pessimistic)? Follow the guidance from your textbook and create a table. d) What is your recommendation if you would apply the Criterion of Realism (Hurwicz Criterion) with a coefficient of realism a =…
- Find decision variables, objective function, constraints and non-negativity constraints An auto company manufactures cars and trucks. Each vehicle must be processed in the paint shop and body assembly shop. If the paint shop were only painting trucks, 40 per day could be painted. If the paint shop were only painting cars, 60 per day could be painted. If the body shop were only producing cars, it could process 50 per day. If the body shop were only producing trucks, it could process 50 per day. Each truck contributes $300 to profit and each car contributes $200 to profit. In addition, the auto company can produce at most 30 trucks and 20 cars. The company wants to determine the daily production schedule that will maximize the company’s profit. Formulate the LP model for the problem.Consider the following LP problem: Min 6X+ 27Y Subject to : 2 X + 9Y => 25, and X + Y <= 75. Pick a suitable statement for this problem: a. X=37.5, Y=37.5 is the only optimal solution. b. Optimal Obj. function value is 75 c. X = 0, Y = 0 is the only optimal solution. d. Optimal Obj. function value is 0Please show how to solve b