Enabled: Chapter 7 Using Binary Integer Progr... Saved Help A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses. The firm's goal is to maximize the net present value of their decision while not spending more than their currently available capital. Max 30x1 + 35x2 +15x3+ 20x4 s.t. 12x1 + 8x2 + 5x3 +11x4 s 20 (Constraint 1} x1+ x2 + x3 + x4 2 2 {Constraint 2) x1+ x2 1 {Constraint 3) x1 + x3 2 1{Constraint 4) x2 = x4 {Constraint 5} 1, if location jis selected 0, otherwise Ij = Solve this problem to optimality and answer the following questions: a. Which of the warehouse locations will/will not be selected?
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- 1. XYZ Company is considering making a new product which requires several types of raw material: In Stock Required Raw Material Description Ayay Nil 100 Replacement Cost is $5 per unit. This material has limited supply. This material is also used to produce another product which has a contribution margin of $3.5 per unit of material Ayay. All available supply of material Ayay are needed to produce this another product. Benzam Nil 40 Current purchase price is $7/unit. Chizzum 100 150 purchased for $10/unit Current purchase price is $14/unit. The material has no use in the company other than for the project under consideration. Units in inventory can be sold for $12/unit. Dedee 120 50 purchased for $20/unit Current purchase price is $22/unit. The material is regularly used in current manufacturing operations. Required: Compute the relevant cost of each material.Variable cells Cell $B$6 $C$6 $D$6 Cell $E$2 $E$3 Name Constraints- $E$4 Variable 1 Variable 2 Variable 3 Name Resource A Resource B Resource C Final Value Cost 3 10 20 Reduced 30 18 0 -7 Final Value Shadow Price Constraint R.H. Side 7.78 6 Objective Coefficient 10 30 40 20 20 30 40 What is the range of optimality for the objective coefficient for Variable 2? Allowable Increase 23 50 Allowable Increase 10 50 1E+30 Allowable Decrease 17 10 1E+30 Allowable Decrease 12.5 10 2226. XYZ and Co has provided the following data seeking your advice on optimum investment strategy: Net return data (in paise) Investment made at the of selected investments Amount beginning of year available (Lakh) 1 95 80 70 60 70 2 75 65 60 50 40 3 70 45 50 40 90 60 40 40 30 30 Маximum Investment (Lakh) 40 50 60 60 The following additional information is also provided: (i) P, Q, R and S represent the selected investments. (ii) The company has decided to have four-year investment plan. (iii) The policy of the company is that amount invested in any year will remain so until the end of the fourth year. (iv) The values (paise) in the table represent net return on investment of 7 1 till the end of the planning horizon (for example, a rupee invested in investment P at the beginning of first year will grow to { 1.95 by the end of the fourth year, yielding a return of 95 paise). Using the above, determine the optimum investment strategy. (CA, November, 1996)
- If the profit per unit on Tables (T) increases to $750 and simultaneously the profit per unit on Chairs (C) increases to $425, determine the new objective function value. Variable Cells Variable Name Value Cost T C Constraints 1 Number Name 2 Final Reduced Objective Allowable Allowable 3 Tables 18 0 Chairs 30 0 Coefficient Increase Decrease 720 395 Cleaning 1920 0 Fabric 4480 0.125 4480 Final Shadow Constraint Allowable Allowable 2080 90 Value Price R.H. Side Increase Decrease Testing 1600 0.188 1600 65 $26.250 O $27.690 O $1,440 Must recalculate. Change violated the 100% nule $24.810 1120 25 1E+30 80 40 160 160 320Judd 57 Joel Gus Tim $3 2. 1 $5 $2 First film Second film Third film Fourth film Fifth film 1. 0. 0. 5. 2. 1 a. Within the dorm room, is Ux showing of a movie a public good? Why or why not? b. W itcosts S5 to rent a movic how many movies should the mommates rent to maximize tothl surplus? c. li they choose the optimal number from part (b)and then split the cost of renting the movies equally, how much surplus does.cach person obtain from wakhing the me d. s there any way tospl ost.tormsre that everyone benefits? What practical problems does this solution reise? Suppose they agmeinarancetochoxxe the efficient number and to split the cosr of the movies equally. When fudd is asked his wiling ness to pay, will he have an incentive to toll the Iruth? If so, why? f not. what will he he tempted (1అ) బ* E What does this example teach you abou the optimal provision of public goods? yol public gods?TUTORIAL DECISION ANALYSIS 1. e) 0 B) 2. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gasoline station. Susan's problem is to decide how large her station should be. The annual returns will depend on both the size of her station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Susan developed the following table: Size of First Station Small Medium Large Extra Large Stock Market Bonds CDs Good Market (5) Probability a) b) 50,000 80,000 Decision Alternative. 100,000 300,000 Fair Market (S) 20,000 30,000 30,000 25,000 For example, if Susan constructs a small station and the market is good, she will realize a profit of $50,000. what is the criterion of realism decision? Use an a value of 0.8. Develop an opportunity loss table? What is the minimax regret decision? Mickey Lawson is considering investing some money that he…
- 1. What is problem factoring.Variable cells Cell Name $B$6 $C$6 $D$6 $E$2 Activity 1 Constraints $E$3 Activity 2 Cell Name $E$4 Activity 3 Resource A Resource B Resource C Final Reduced Value Cost 3 6 0 0 0 -7 30 6 18 0 Objective Allowable Allowable Coefficient Increase Decrease 30 20 7.78 20 O the shadow price is not valid. 40 20 O the shadow price is valid. Final Shadow Constraint Allowable Allowable Value Price R.H. Side Increase Decrease 30 O the original solution remains optimal. 40 23 50 7 10 50 17 10 1E+30 the problem must be resolved to find the optimal solution. 12.5 10 1E+30 222. Maximize subject to p = x + 2y X +3y24 2x + y 18 x ≥ 0, y ≥ 0.
- Q2 The lower daily needs for workers in a manufacturing organization provided in the below table, each worker works for eight hours, the management needs to determine the lower number of workers to maintain the flow and stability of the work in each shaft. Formulate LP model for this problem and suggest (only suggestion) a method to find the optimal solution ShaftSeneca Hill Winery recently purchased land for the purpose of establishing a new vineyard. Management is considering two varieties of white grapes for the new vineyard: Chardonnay and Riesling. The Chardonnay grapes would be used to produce a dry Chardonnay wine, and the Riesling grapes would be used to produce a semidry Riesling wine. It takes approximately four years from the time of planting before new grapes can be harvested. This length of time creates a great deal of uncertainty concerning future demand and makes the decision concerning the type of grapes to plant difficult. Three possibilities are being considered: Chardonnay grapes only; Riesling grapes only; and both Chardonnay and Riesling grapes. Seneca management decided that for planning purposes it would be adequate to consider only two demand possibilities for each type of wine: strong or weak. With two possibilities for each type of wine it was necessary to assess four probabilities. With the help of some forecasts in…A pharmaceutical company sells 78 different products. The distribution of annual sales amounts last year for these products is as follows. Number of Products 100 90 80 70 60 50 40 30 20 10 0 0 5,17 301 37 50 75,61 100 150 Annual Sales ($000) 200, 78 200 250 Approximately what percentage of the products had annual sales of less than $80,000 last year? OA. 62 O B. 79.5 OC. 38 O D. 20.5 OE. None of the above