Operations Research : Applications and Algorithms
4th Edition
ISBN: 9780534380588
Author: Wayne L. Winston
Publisher: Brooks Cole
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Expert Solution & Answer
Chapter 5.2, Problem 6P
a.
Explanation of Solution
Profit
- The new optimum solution value is calculated by the given formula:
- The key row value can be calculated by the given formula:
b.
Explanation of Solution
Smallest price
- Reduced cost or opportunity cost is the amount by which an objective function coefficient is improved thereby increasing the maximization problem and decreasing the minimization problem...
c.
Explanation of Solution
Optimum solution
- The new optimum solution value is calculated by the given formula:
- The key row value can be calculated by the given formula:
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Acme Parts runs a small factory and employs workers who are paid one of three hourly rates depending on their shift: first shift, $17 per hour; second shift, $18.50 per hour; third shift, $22 per hour. Each factory worker might work any number of hours per week; any hours greater than 40 are paid at one and one-half times the usual rate. In addition, second- and third-shift workers can elect to participate in the retirement plan for which 3% of the worker’s gross pay is deducted from the paychecks.
Write a program that prompts the user for hours worked, shift, and, if the shift is 2 or 3, whether the worker elects the retirement (1 for yes, 2 for no). Display:
Hours worked
Shift
Hourly pay rate
Regular pay
Overtime pay
Total of regular and overtime pay
Retirement deduction, if any
Net pay.
This is the way the code starts -
import java.util.*;
public class AcmePay {
public static void main(String[] args) throws Exception {…
How do I answer this, please?
Acme Parts runs a small factory and employs workers who are paid one of three hourly rates depending on their shift: first shift, $17 per hour; second shift, $18.50 per hour; third shift, $22 per hour. Each factory worker might work any number of hours per week; any hours greater than 40 are paid at one and one-half times the usual rate. In addition, second- and third-shift workers can elect to participate in the retirement plan for which 3% of the worker’s gross pay is deducted from the paychecks.
Write a program that prompts the user for hours worked, shift, and, if the shift is 2 or 3, whether the worker elects the retirement (1 for yes, 2 for no). Display:
Hours worked
Shift
Hourly pay rate
Regular pay
Overtime pay
Total of regular and overtime pay
Retirement deduction, if any
Net pay.
An oil and gas exploration firm invested
$2,000,000 in drilling for natural gas in a new
gas field. The firm's geologist believes the
field has the potential to produce gas for
many years. The revenue resulting from the
gas well the first year after drilling is
$600,000; based on previous experiences
with similar types of wells, it is expected the
annual revenue will decrease at an annual
rate of 3%. Likewise, the costs of operating
the well the first year totals $100,000; costs
are expected to increase at an annual rate of
7%. If the firm's MARR is 17%, how long will it
take for the firm to recover its investment?
Hint: Using Excel's Goal Seek or SOLVER tool
leave cell for the number of years required to
recover the investment empty. Click here to
access the TVM Factor Table calculator. n = L1
years
Chapter 5 Solutions
Operations Research : Applications and Algorithms
Ch. 5.1 - Prob. 1PCh. 5.1 - Prob. 2PCh. 5.1 - Prob. 3PCh. 5.1 - Prob. 4PCh. 5.1 - Prob. 5PCh. 5.2 - Prob. 1PCh. 5.2 - Prob. 2PCh. 5.2 - Prob. 3PCh. 5.2 - Prob. 4PCh. 5.2 - Prob. 5P
Ch. 5.2 - Prob. 6PCh. 5.2 - Prob. 7PCh. 5.2 - Prob. 8PCh. 5.3 - Prob. 1PCh. 5.3 - Prob. 3PCh. 5.3 - Prob. 4PCh. 5.3 - Prob. 5PCh. 5.3 - Prob. 6PCh. 5.3 - Prob. 7PCh. 5.3 - Prob. 9PCh. 5.3 - Prob. 10PCh. 5.3 - Prob. 11PCh. 5 - Prob. 1RPCh. 5 - Prob. 2RPCh. 5 - Prob. 3RPCh. 5 - Prob. 4RPCh. 5 - Prob. 6RPCh. 5 - Prob. 7RPCh. 5 - Prob. 8RPCh. 5 - Prob. 9RPCh. 5 - Prob. 10RPCh. 5 - Prob. 11RPCh. 5 - Prob. 12RPCh. 5 - Prob. 13RPCh. 5 - Prob. 14RPCh. 5 - Prob. 15RPCh. 5 - Prob. 16RP
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