The condition of nonnegativity requires that: a. the objective function cannot be less than zero b. the decision variables cannot be less than zero c. the right-hand side of the constraints cannot be greater than zero d. the reduced cost cannot be less than zero
Q: Describe how and why it is critical to identify your project team’s roles and responsibilities early...
A: Successful projects are typically the product of meticulous preparation and a project team's experti...
Q: What factors contribute to a country's desirability?
A: The desirability of the country refers to the quality or condition of the country being desired. A c...
Q: A company has estimated its economic order quantity for Part A at 3,000 units for the coming year. I...
A: Solution is as follows:
Q: Table-Top Assembly 8/1 8/8 8/15 8/22 8/29 9/5 9/12 9/19 9/26 Gross Requirements Scheduled Receipts 1...
A: Net requirements = Gross requirements - previous period Projected on hand - current period Scheduled...
Q: What is the relationship between the design of a manufacturing process and the firm's strategic comp...
A: Businesses, either manufacturing goods or providing services need to be competitive to market their ...
Q: Please help me with this homework
A: The SWOT analysis is a way to analyze a company's competition and setting specific priorities.A SWO...
Q: In a typical network model representation of the transportation problem, the nodes indicate a. ...
A: A transportation problem indicating a method of identifying the optimal resources allocation based o...
Q: What is Dr. Joseph Juran's quality philosophies and identify the products and services of him in the...
A: Over the course of his almost seventy-year career, Joseph M. Juran made several contributions to the...
Q: How do the international organizations such European Union, APEC, ASEAN, weigh the risks and benefit...
A: International organizations are described as institutions that consist of more than 3 members and gr...
Q: What are the advantages of adopting KIVA systems for warehouse automation?
A: Kiva Systems is a new way to computerized order fulfillment with the help of mobile robotic drive un...
Q: (1) How does John Stuart Mill answer those who might say that people would not always prefer the lif...
A: Mill defines utilitarianism and proposed a theory which was based on the principle that actions ar...
Q: CWD Business systems maintains a successful Telecom sales department for Top up call credit in which...
A: Since you have posted a question with multiple sub-parts, we will solve the first three questions fo...
Q: Formulate a linear program for this problem. 2) A hydroelectric dam needs to schedule how much power...
A: LPP is used to minimize or maximize the constraints such as workforce, cost, time, profit, losses wh...
Q: 5 important points with the long explanation every point thank u Topics : Just In Time -> About Ope...
A: Just-in-time otherwise called JIT is an inventory management technique by which work, material, and ...
Q: 7. A small business places reorders every two weeks Once orders are placed, four weeks are typicall;...
A: Answer 7 The duration between orders equals the optimal order size divided by annual demand. The a...
Q: October 5 a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a ...
A:
Q: 1. A project was planned using PERT with three-time estimates. The expected completion time of the p...
A:
Q: What are systems or solutions selling? How can an organization be successful in this area of sales? ...
A: A Small Introduction about Sales Management Sales management is the most common way of getting so...
Q: Drew list of effictwanes goals that would you use to mecswe lof Ca) a fost food end (6) school of bu...
A: A Small Introduction about Performance Management Performance management is a framework intended ...
Q: The owner of a retail store needs information on how stores are performing and which products are se...
A: Information is a critical resource for every organization's success. The intelligent use and dissemi...
Q: Y=a+b1X1 +b2X2 +b3X3 Where Y = number of automobile accidents a = 7.5 bl = 3.5 b2 = 4.5 b3 = 2.5 Cal...
A: Regression analysis is used to define the relationship between independent and dependent variables.
Q: demong view on supplier relationship 7 deming view on supplier relationship
A: Deming - was one of the notable advocates of quality, & his principles regarding the managerial ...
Q: List down some of the factors that may affect forecasting? What is the bases of forecasting
A: Forecasting is a process that uses historical data as information to make informed estimations that ...
Q: Workstation W Workstation X Workstation Y , with a total load time of ____ minutes. (Enter your resp...
A: Demand for each product is given. Demand for product A = 80 Units/ week Demand for product B = 75 un...
Q: What would be the total cost of Software D over time? $1?] Not Satisfied $5,000 Software C 20% • $20...
A: Given- Decision tree-
Q: Why I should I hold on to Gap Inc,(GPS) stock for now
A: Brand is a The Us company. Because of the strength of its Old Navy and Athleta brands, as well as co...
Q: what is the difference between performance management and evidence-based management? please provide...
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...
Q: The table gives the total cost schedule for oil changes at the local Jiffy Lube. What is Jiffy Lu...
A: Given-
Q: -100 units enter process A. Five are scrapped, 6 are reworked, and a total of 96 are produced. 96 un...
A: Rolled throughput yield is a kind of probability which considering the proportion between output cap...
Q: In aggregate planning models, we can model backlogging of demand by allowing a month's inventory to ...
A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you wan...
Q: The simple operation of a small phone-order retail company is mapped below. Average order processin...
A: Processing time is the time between when a request is put by a client and when the request is satisf...
Q: IT’S THE AFTERNOON of Feb. 26, during a 3-games-in-4-nights stretch, and Miami Heat center Hassan Wh...
A: Operations management is described as a means of management of business practices that creates highe...
Q: The National Company uses 150,000 gallons of hydrochloric acid per month. The cost of carrying the c...
A: Solution is as follows:
Q: answer items f and g
A: A Small Introduction about Critical Path In project management, a critical path is the arrangemen...
Q: 6-27 Ross White’s machine shop uses 2,500 brackets during the course of a year, and this usage is re...
A: Given- Annual Demand (D) = 2500 bracketsOrdering cost (S) = $18.75 per orderHolding cost (H) = $...
Q: The official cost estimate of a work is 55 crore BDT. Calculate the tender capacity if the tenderer ...
A: Given here at first Official cost estimate of work = 55 croreTender capacity (TC) =?Maximum value of...
Q: Why is the degree of the customisation an important consideration in the process planning .
A: To be determined: The degree of the customization an important consideration in the process plannig....
Q: What exactly is a basic project plan? Are all baseline plans the same in terms of content and format...
A: A project basic plan includes all the fundamental necessities of the project in a way that can be ea...
Q: Ray is planning to open a small car-wash operation for washing just one car at a time. He must decid...
A:
Q: What are the processes for dealing with disruptions, and how do they impact machine operation?
A: The term disruption can be understood as disturbances or interruption which causes a situation of di...
Q: JL.53 Bob's Bumpers has a repetitive manufacturing facility in Kentucky that makes automobile bumper...
A: given, Annual demand, D = 75000 Daily demand d = 75000/350 = 214.28 Daily production p = 330 Setup c...
Q: 1. How is Wal-Mart’s Web site different from Amazon and Office Depot? 2. Do Wal-Mart and Best Buy fa...
A: The principal Wal-Mart Stores was established by Sam Walton at Rogers Arkansas in 1962. Wal-Mart sto...
Q: Suppose Charlene Brewster has times (in seconds) of 8.3, 8.7, 8.3, 8.6, 8.6, 8.4 and a performance r...
A: Given: Elements= 8.3, 8.7, 8.3, 8.6, 8.6, 8.4 Performance rating =120%
Q: List three reasons why understanding stakeholders is important to successful project management. Lis...
A: List three reasons why understanding stakeholders is important to successful project management. Un...
Q: The following is given: Price $7.00/unit Variable cost $5.00/unit Fixed cost $50,000 a) Based on the...
A: The Break-even point is the point where the total production cost and the total revenue of the compa...
Q: Define critical path.
A: Project management is the management in which different types of knowledge and skills are used to ma...
Q: The simplified modular approach for formwork means what?
A: Formwork is defined as temporary or permanent molds into which concrete and other similar materials ...
Q: Exercises - Management Accounting Concepts and Techniques for Decision Making 16. The Call Company h...
A:
Q: Q6. A chemical company is engaged in producing three different products A, B, C. The products are pr...
A: Decision Variable: Suppose-X be the no. of operation days of plant 1Y be the no. of operation days...
Q: In Mairah’s Garden shop, she makes two (2) kinds of mixtures for planting: gardening mixture and pot...
A: Decision Variable: Suppose-G be the no. of packages of the gardening mixtureP be the no. of packag...
The condition of nonnegativity requires that:
a. the objective function cannot be less than zero
b. the decision variables cannot be less than zero
c. the right-hand side of the constraints cannot be greater than zero
d. the reduced cost cannot be less than zero
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Although the normal distribution is a reasonable input distribution in many situations, it does have two potential drawbacks: (1) it allows negative values, even though they may be extremely improbable, and (2) it is a symmetric distribution. Many situations are modelled better with a distribution that allows only positive values and is skewed to the right. Two of these that have been used in many real applications are the gamma and lognormal distributions. @RISK enables you to generate observations from each of these distributions. The @RISK function for the gamma distribution is RISKGAMMA, and it takes two arguments, as in =RISKGAMMA(3,10). The first argument, which must be positive, determines the shape. The smaller it is, the more skewed the distribution is to the right; the larger it is, the more symmetric the distribution is. The second argument determines the scale, in the sense that the product of it and the first argument equals the mean of the distribution. (The mean in this example is 30.) Also, the product of the second argument and the square root of the first argument is the standard deviation of the distribution. (In this example, it is 3(10=17.32.) The @RISK function for the lognormal distribution is RISKLOGNORM. It has two arguments, as in =RISKLOGNORM(40,10). These arguments are the mean and standard deviation of the distribution. Rework Example 10.2 for the following demand distributions. Do the simulated outputs have any different qualitative properties with these skewed distributions than with the triangular distribution used in the example? a. Gamma distribution with parameters 2 and 85 b. Gamma distribution with parameters 5 and 35 c. Lognormal distribution with mean 170 and standard deviation 60Six months before its annual convention, the American Medical Association must determine how many rooms to reserve. At this time, the AMA can reserve rooms at a cost of 150 per room. The AMA believes the number of doctors attending the convention will be normally distributed with a mean of 5000 and a standard deviation of 1000. If the number of people attending the convention exceeds the number of rooms reserved, extra rooms must be reserved at a cost of 250 per room. a. Use simulation with @RISK to determine the number of rooms that should be reserved to minimize the expected cost to the AMA. Try possible values from 4100 to 4900 in increments of 100. b. Redo part a for the case where the number attending has a triangular distribution with minimum value 2000, maximum value 7000, and most likely value 5000. Does this change the substantive results from part a?A common decision is whether a company should buy equipment and produce a product in house or outsource production to another company. If sales volume is high enough, then by producing in house, the savings on unit costs will cover the fixed cost of the equipment. Suppose a company must make such a decision for a four-year time horizon, given the following data. Use simulation to estimate the probability that producing in house is better than outsourcing. If the company outsources production, it will have to purchase the product from the manufacturer for 25 per unit. This unit cost will remain constant for the next four years. The company will sell the product for 42 per unit. This price will remain constant for the next four years. If the company produces the product in house, it must buy a 500,000 machine that is depreciated on a straight-line basis over four years, and its cost of production will be 9 per unit. This unit cost will remain constant for the next four years. The demand in year 1 has a worst case of 10,000 units, a most likely case of 14,000 units, and a best case of 16,000 units. The average annual growth in demand for years 2-4 has a worst case of 7%, a most likely case of 15%, and a best case of 20%. Whatever this annual growth is, it will be the same in each of the years. The tax rate is 35%. Cash flows are discounted at 8% per year.
- Which of the following is true? a)The maximin criterion is an approach in Optimization under uncertainty which finds a solution that has the best possible payoff. b)The maximin criterion is an approach in Optimization under uncertainty which finds a solution with the best worst possible payoff. c)A risk profile represents the probability distribution of uncertain inputs. d)Decision tree is a method to solve any optimization problem when the outcomes are subject to uncertainty.Suppose Box I contains five red balls and two white ones while Box II contains one red and four white ones. A box is chosen at random by selecting a random number from 0 through 9. If a 1 or 2 is selected, Box I is chosen; otherwise Box II is chosen. If I took Box 1 and chose 2 balls without replacement, what is the proabability that exactly one would be red?A young computer engineer has $12,000 to invest and three different investment options (funds) to choose from. Type 1 guaranteed investment funds offer an expected rate of return of 7%, Type 2 mixed funds (part is guaranteed capital) have an expected rate of return of 8%, while an investment on the Stock Exchange involves an expected rate of return of 12%, but without guaranteed investment capital. Computer engineer has decided not to invest more than $2,000 on the Stock Exchange in order to minimize the risk. Moreover for tax reasons, she needs to invest at least three times more in guaranteed investment funds than in mixed funds. Assume that at the end of the year the returns are those expected; she is trying to determine the optimum investment amounts. (a) Express this problem as a linear programming model with two decision variables.(b) Solve the problem with the graphical solution procedure and define the optimum solution.
- Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client's needs. For a new client, Innis has been authorized to invest up to $1.2 million in two investment funds: a stock fund and a money market fund. Each unit of the stock fund costs $50 and provides an annual rate of return of 10%; each unit of the money market fund costs $100 and provides an annual rate of return of 4%. The client wants to minimize risk subject to the requirement that the annual income from the investment be at least $60,000. According to Innis' risk measurement system, each unit invested in the stock fund has a risk index of 8, and each unit invested in the money market fund has a risk index of 3. The higher risk index associated with the stock fund simply indicates that it is the riskier investment. Innis's client also specified that at least $300,000 be invested in the money market fund. Refer to the computer solution shown below. Optimal…Company A's stock sells for $142 a share and has a 3-year average annual return of $27 per share. The beta value, a measure of risk, is 0.38. Company B sells for $149 a share and has a 3-year average annual return of $61 a share. The beta value is 1.23. Tori wants to spend no more than $12000 investing in these two stocks, but she wants to obtain at least $3000 in annual revenue. Tori also wants to minimize the risk, that is, the beta value. Determine how many shares of each stock Tori should buy.Stock in Company A sells for $89 a share and has a 3-year average annual return of $24 a share. The beta value is 1.26. Stock in Company B sells for $83 a share and has a 3-year average annual return of $18 a share. The beta value is 1.13. Derek wants to spend no more than $19,000 investing in these two stocks, but he wants to earn at least $2100 in annual revenue. Derek also wants to minimize the risk. Determine the number of shares of each stock that Derek should buy. Set up the linear programming problem. Let a represent the number of shares of stock in Company A, b represent the number of shares of stock in Company B, and z represent the total beta value. Minimize z3 1.26а + 1.13b subject to 89а + 83b s 19000 24a + 18b > 2100 a 2 0, b20. (Use integers or decimals for any numbers in the expressions. Do not include the $ symbol in your answers.) Derek should buy 88 share(s) of stock in Company A and 0 share(s) of stock in Company B. (Round to the nearest integer as needed.)
- In problems involving maximization and minimization, what is the objective function? States intended outcome in equation form Incorporates constraint of maximum budget Lists set of potential restrictions on the solution Cites constraints to ensure objectivityWHAT WLL HAPPEN IF THERE IS A CHANGE IS ONE OF THE OBJECTIVE FUNCTION COEFFICIENT? A. SLOPE OF THE OBJECTIVE FUNCTION LINE ALWAYS WILL CHANGE B. OPTIMAL SOLUTION ALWAYS WILL CHANGE C. ONE OR MORE OF THE DECISION VARIABLES ALWAYS WILL CHANGE D. ALL OF THE ABOVE E. NONE OF THE ABOVEA recent MBA graduate is considering an offer of employment at a biotech company, where she has been offered stock options as part of her compensation package. The options give her the right, but not the obligation, to buy 2500 shares of stock either one year from now or two years from now at a price of $50, which is the current market price of the stock. If the price of the stock has risen above $50 at either time, she can buy 2500 shares at $50 and then immediately sell at the current price, thereby making a risk-free profit. On the other hand, if the price of the stock has dropped below $50, she will not exercise the option because it is “out of the money” and she would loose money. Based on historical market information, she estimates that the stock price in the first year will either go up by 25% from its current price, with probability of 0.55, or it will go down by 15%, with probability of 0.45. In either case, she can exercise the options or wait to see what will happen in the…