2 Solve the following linear program:Max 5x + 10y2x+4y <= 100A3x+1y <= 90x + 4y < = 80C1) What is the optimal solution?a) One optimal solutionb) Redundantc) Multiple optimal solutionsd) Unbounded2) What is the value at the optimal solution?a) $150b) $200c) Alternate optimal solutions existd) $350e) $0

Answered: 1) What is the optimal solution? a) One…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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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 =…
Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four should have, based on the current age of the head of the household. The equation is:y = 850 − .1xwherey = Insurance needed ($000)x = Current age of head of household a. Plot the relationship on a graph. b. Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 30 years old.
Solve with explanation:
Problem 2: You go to the racetrack and are choosing between 2 horses: Belle and Jeb (you are at the racetrack, so you will bet on one of these two horses). Betting on either horse will cost you $1, and the payoffs are as follows: • Bet on Belle: you will be paid $2 if she wins (or a net profit of $1). You believe she has a 75% chance of winning. • Bet on Jeb: you will be paid $9 if he wins (for a net profit of $8). You believe that he has a 20% chance of winning. Prior to making your decision of which horse to bet on, someone comes and offers you gambler’s “insurance.” If you agree to the gamblers “insurance,” they pay you $1 immediately and you agree to pay them 50% of the profit on your winnings (that is, $0.50 if Belle wins, and $4 if Jeb wins). What should you do? Answer this question by: a) Creating a decision tree for this scenario, making sure you label all branches and include all probabilities and consequences. b) Solving the decision tree using EMV and stating the optimal…
Please show solution and formula used. Assuming the total number of students studying in the top four universities in the Philippines is approximately 158,000. And the distribution is as follows: University of the Philippines (UP) - 40% of the total number Ateneo de Manila University (ADMU) - 23,700 De La Salle University (DLSU) - 25% of the total number University of Santo Tomas - 20% of the total number And only the following number of students owns a tablet computer: 20% of UP students 85% of ADMU students 90% of DLSU students 85% of UST students What is the total market penetration of tablet computers among the students of the top four universities? What is the total market size of tablet computers in the top four universities?
Using the grid technique to determine the least-cost location (warehouse) for this problem: Tons Rate X - Coordinates Y – Coordinates S1 200 0.5 2 14 S2 300 0.6 6 10 M1 100 1 2 2 M2 100 2 10 14 M3 100 1 14 18 M4 100 2 14 6 The Grid center coordination is ____ and _____ (round the results to 1 decimal place) Group of answer choices (9.9; 7.8) (5.5; 6.9) (8.7; 10.5) (10.5; 6.4) (9.9; 8.9)
Explain why satisficing exists and why someone would not require an optimal solution.
I want to answer to solve ㅠㅠㅠㅠ. Q1. A builder has located a piece of property that she would like to but and eventually build on. The land is currently zoned for four homes per acre, but she is planning to request new zoning. What she builds depends on approval of zoning requests and your analysis of this problem to advise her. With her input and your help, the decision process has been reduced to the following costs, alternatives, and probabilities Cost of land $2 MillionProbability of rezoning .6If the land is rezoned, there will be additional costs for new roads, lighting, and so on of $1 million. If the land is rezoned, the contractor must decide whether to build a shopping center or 1,500 apartments that the tentative plan shows would be possible. If she builds a shopping center, there is a 70% chance that she can sell the shopping center to a large department store chin for $4 million over her construction cost, which excludes the land; and there is a 30% chance that she can…
Select the components or elements in the formulation of the following model.: Linear optimization model Select one or more: constraints places supliers demands nature decisions strategy customers variants variables probability of states of nature decision-maker cost function payoffs non negativity constraints criterion states of nature criteria preferences criteria matrix players route evaluations capacities irational player
n September 2012, a 260,000 square foot Costco anchored shopping center was acquired in San Mateo, California for $36 million with a $26 million fully amortizing first mortgage loan from Union Bank. By 2018, the property had substantially appreciated in value and was worth $72 million and the owner wanted to access part or all of the increased equity value while paying little or no current taxes. The owner might: Refinance the property with a larger loan All these answers are correct Sell the property under an installment sale contract Trade the property for a property whose sale price is more than $54 million under Section 1031 of the Internal Revenue Code
Calculating 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 M

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1) What is the optimal solution? a) One optimal solution b) Redundant c) Multiple optimal solutions d) Unbounded