Operation management Find the initial cost solution utilizing the intuitive least cost method for the transportation problemdetailed in the table below.Dest 1CostsSource 1Source 2Source 3Demand410840Dest 2 Dest 312911555121350Supply35d. What is the solution? $ [Select]40Based on utilizing the intuitive least cost method...a. Is the problem balanced? [Select]e. Were all demand levels met? [Select]55b. Where is the discrepancy, if any, in the transportation problem? [Select]c. What are the number of units in the of the discrepancy, if any? [Select]✓ If not, which destination wasshorted based on the method used in the problem [Select]<

Cost D1 D2 D3 Supply S1 4 12 5 35 S2 10 9 12 40 S3 8 11 13 55 Demand 40 55 50

Answered: Find the initial cost solution…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 46P

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Edwards Machine Tools needs to purchase a new machine. The basic model is slower but costs less, whereas the advanced model is faster but costs more. Profitability will depend on future demand. The following table presents an estimate of profits over the next three years. Demand Volume Decision Low Medium High Basic model $90,000 $110,000 $155,000 Advanced model $60,000 $135,000 $190,000 Fill in the table below for maximum and minimum profit payoffs under each model. Round your answers to the nearest dollar. Decision alternative Maximum Minimum Basic model $ $ Advanced model $ $ Calculate the amounts foregone by not adopting the optimal course of action for each possible demand level. Determine the maximum opportunity cost for each model. Fill in the table below. If your answer is zero, enter "0". Round your answers to the nearest dollar. Opportunity Loss Matrix Future events Decision alternative Low Medium High Maximum…
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The Bright Company wants to figure out the best way to ship their new product, Flying Widgets, from their factories through their warehouses to their retail outlets. They would like to set up a Transhipment table so they can use POM to find the least cost shipping routes. They have hired you to set up the Transhipment table based on the information below. You will be paid handsomely if you can come up with the correct table. Shipping Costs Shipping Costs 01 02 03 04 Wi W2 W3 W1 4. 2 F1 4 W2 4 F2 4 2 W3 4. 3. 4. Also, Flying Widgets can be shipped from Factory 1 to Factory 2 for $3 per unit. Factory 1 can produce 300 units and factory 2 can produce 100 units. Outlet 1 demand is 50 units, Outlet 2 is 150 units, Outlet 3 is 100 units, and Outlet 4 is 100 units.

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