Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Textbook Question
Chapter 11, Problem 7P
Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are processed on two machines: a shaper and a grinder. The times (in minutes) required on each machine are as follows:
The shaper is available for 120 hours, and the grinder for 110 hours. No more than 200 units of component 3 can be sold, but up to 1,000 units of each of the other components can be sold. In fact, the company already has orders for 600 units of component 1 that must be satisfied. The profit contributions for components 1, 2, and 3 are $8, $6, and $9, respectively.
- a. Formulate and solve for the recommended production quantities.
- b. What are the objective coefficient
ranges for the three components? Interpret these ranges for company management. - c. What are the right-hand-side ranges? Interpret these ranges for company management.
- d. If more time could be made available on the grinder, how much would it be worth?
- e. If more units of component 3 can be sold by reducing the sales price by $4, should the company reduce the price?
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Chapter 11 Solutions
Essentials of Business Analytics (MindTap Course List)
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