If there is a maximum of 4,000 hours of labor available per month and 300 ping-pong balls (x1) or 125 wiffle balls (x2) can be produced per hour of labor, which of the following constraints reflects this situation? a. 300x1 + 125x2 = 4,000 b. 425(x1 + x2) < 4,000 c. 300x1 + 125x2 > 4,000 d. 300x1 + 125x2 < 4,000
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- . A group of students organizes a bake sale in which they sell hundreds of cookies at $1per piece. They set up a table on campus and wait for students to come and purchasetheir cookies. Consider the following variables in this bake sale operation:1. Size of the cookies2. Weather conditions on campus3. Organization of the table4. Number of cookies sold5. Competition from other fund-raisers coinciding on campus6. Amount of advertising and shouting of the students at the bake sale table7. Number of students on campus that dayWhich of these variables is an output variable?a. 3b. 4c. 5d. None of the above3-4) How many pounds of beans will Taco Loco have left over if they produce the optimal quantity of products X, Y, and Z? A) 28.73 B) 39.27 C) 0 D) 1E + 30 3-5) What is the increase in revenue if Taco Loco purchases 20 pounds of cheese for $1 and uses it optimally? A) $0 B) $9.09 C) $29.00 D) $158.181+1 is equal to?
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- Maximize p = 7x + 6y + 3z subject to x + y + z ≤ 150 x + y + z ≥ 100 x ≥ 0, y ≥ 0, z ≥ 0. p= (x, y, z)=Williams Auto has a machine that installs tires. The machine is now in need of repair. The machineoriginally cost $10,000 and the repair will cost $1,000, but the machine will then last two years.The labor cost of operating the machine is $0.50 per tire. Instead of repairing the old machine,Williams could buy a new machine at a cost of $5,000 that would also last two years; the labor costwould then be reduced to $0.25 per tire. Should Williams repair or replace the machine if it expectsto install 10,000 tires in the next two years?*Hello I have the below problem and i already have solved questions a & b i need help solving c & d ONLY*** 2.30 A foundry receives an order for four custom-designed castings. The customer will pay$30,000 for each of four good castings. The customer will accept neither fewer normore than four castings. It will cost $15,000 to produce each casting. Each casting isproduced independently; the probability of a casting being good is estimated to be 0.90.a. How many castings should be produced?b. What is the probability of losing money on the transaction?c. It has been argued that the estimate of cost to produce each casting is not very accurate.Analyze the sensitivity of the optimum batch production quantity to errors in estimatingthe values of the cost parameters; determine how much the cost of producing eachcasting has to decrease in order to increase by one the number of castings to produce.d. It has been argued that the estimate of the probability of a casting being good is…
- You have been hired by Kia as manager for its Pakistan operations. Assume following is the short-run production function at their assembly plant outside Karachi: Q = 10L2 – 0.5 L3 where L is variable input labor, Q is output of Cars assembled a. At the end of the year it is expected that output will double with purchase ofnew equipment and machinery. The production function is estimated to be Q = 60L.30K.70 where L is labor and K is capital. Suppose initial L1 = 1 and K1 = 1. When inputs are in increased to L2 = 2 and K2 = 2, do you observe increasing, decreasing or constant returns to scale? b. Assume Kia Head Office is considering hiring more laborers either at their Gwadar plant or alternatively at the Karachi plant. What will be your advice if workers’ marginal product is 40 at wage of Rs=5/hour in Karachi and marginal product is 28 at wage of Rs=4/hour in Gawdar?2.28 A foundry produces castings to order. An order for 20 special castings has been re- ceived. Since the casting process is highly variable, not all castings produced are good. The cost of producing each casting is $550; the additional cost of finishing a good casting is $125. If a casting is not good, it is recycled at a value of $75; excess good castings are not finished but are recycled at a value of $75. The customer has agreed to accept 15, 16, 17, 18, 19, or 20 castings at a price of $1250 each. If fewer than 15 good castings are produced, none will be purchased by the customer. Prob- ability distributions for the number of good castings produced in a batch of varying sizes are given below. How many castings should be scheduled in order to maximize expected profit? #Good Castings 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 79 2 PRODUCT, PROCESS, AND SCHEDULE DESIGN Number of Castings Scheduled 15 16 17 0.05 0.00 0.00 0.00 0.00 0.00 0.05 0.05 0.00…You are asked to help your boss deciding who is considering whether to make or buy a part fora top most demanding product of the company.Your company can make the component for $40 per unit or buy it for $50 per unit from vendor.If the Company decides to make the component, it will require 4 hours of machine time tomake each part. The company has 2,000 hours of machine time available per month. Shouldthe company make or buy the component? How many max parts company can make?________________________________________________________________