Which of the following statement is true? O Heuristics solution is always better than solution from LP model O LP solution guarantee to give optimal solution O Decision variables are the given number like demand and capacity O We can get the optimal solution by always select the cheapest option in the network flow problem
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- 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?what is the shawdow price of constraint 1?SIMPLEX METHOD A factory makes tennis rackets and cricket bats. A tennis racket takes 1.5 hours of machine time and 3 hours of craftsman’s time in its making while a cricket bat takes 3 hour of machine time and 1 hour of craftsman’s time. In a day, the factory has the availability of not more than 42 hours of machine time and 24 hours of craftsman’s time. If the profit on a racket and on a bat is Php 20.00 and Php 10.00 respectively, find the maximum profit of the factory when it works at full capacity.
- 2. Zara is determining how many coats to order for this upcoming winter selling season. Zara forecasts the demand distribution for coats this upcoming winter to be the following. Demand (number of coats) Probability 100 0.2 150 0.1 200 0.2 250 0.1 0.1 0.3 300 350 Each coat costs Zara $100 to purchase wholesale and sells for $200 retail. At the end of the winter selling season, Zara may sell as many coats as it desires at a salvage value of $50 per coat. a. Suppose that Zara has purchased 250 coats, what is the marginal value from a 251st coat? Is it profitable for Zara to purchase its 251st coat? Justify your answer. b. Suppose that Zara has purchased 260 coats, what is the marginal value from a 261st coat? Is it profitable for Zara to purchase its 261st coat? Justify your answer. c. What is the optimal number of coats for Zara to purchase in order to maximize its average profit?Maximize Profit=123 L + 136 S 17 L+11 S≤ 3000 6 L+9 S≤2500 L20 and S20 (Availability of component A) (Availability of component B) Show Transcribed Text Implement the linear optimization model and find an optimal solution. Interpret the optimal solution. The optimal solution is to produce LaserStop models and SpeedBuster models. This solution gives the possible profit, which is $. (Type integers or decimals rounded to two decimal places as needed.)1. Explain the meaning of the expected value of perfect information (EVPI) in this problem. Based on the results of (iii) and (iv), which investment would you choose? 2. Compute the coefficient of variation, the return-to-risk ratio (RTRR) for each investment. Based on (vii) and (viii), what investment would you choose? Compare the results of (vi) and (ix) and explain any differences
- Just need help finding the sausage constraint quantity valueA barge company moves CoB freight between Memphis and New Orleans. Each barge tow is limited to 15 barges. The round trip takes 6 days. Forecasts call for 37 round trip tows per month. How many towboats does the company need to satisfy this demand? (Assume a month is 30 days.)Need help only with finding the optimal solution
- Don't solve. Please give- Decision Variable Constraint Objective functionThe distribution of daily demand for rental trucks at a vehicle rental company is shown in the following table: Relative Frequency Demand 0.07 0 0.14 1 0.15 2 0.14 3 0.12 4 0.08 5 0.3 6 Trucks are rented by the day only and the company makes $14 per rented truck per day. The rental company keeps four trucks at this location. Assuming that the stocking decision is optimal, what is the implied range of excess cost per truck per day? a. 0 and 186 b. 8.58064 and 14 c. 14 and 24.8889 d. 6 and 8.58064 e. 34.2759 and 79.3333show the complete solution for a, b and c