Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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- 1. (30 pts.) A company that manufactures three products, A, B, and C, using three machines, M1, M2, and M3, wants to determine the optimal production schedule that maximizes the total profit. Product has to be processed by machines M1, M2, and M3, product B requires M1 and M3, while product Crequires M1 and M2. The unit profits on the three products are $4, $2, and $5, respectively. The following linear program is formulated to determine the optimal product mix: Maximize Z=4x+2x2+5x3 5.L x+2x2+ x ≤430 (Machine 1) 3x + 2x ≤ 460 (Machine 2) x+4x2 ≤450 (Machine 3) and 11.12.20 where x1, x2, and xs are the amounts of products A. B, and C and the constraints reflect the available capacities of M1, M2, and M3. The optimum solution for the problem is as follows: optimal solution: -0, -100, x-230 optimal value: maximum profit, Z=1350 shadow prices: 1.0, 2.0, and 0.0 for constraints 1, 2 and 3 respectively reduced costs: for x 3.0, for x = 0, for x)=0 RANGES ON RIGHT-HAND-SIDE (RHS) CONSTRAINTS…arrow_forwardWheelan's Chapter 9, 'Keeping Score'arrow_forward3. a. Contrast the meanings of the terms job enlargement and job enrichmentarrow_forward
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- Question 1: Should the marketing budget be maintained or increased during a recession or economic downturn? During a recession, the immediate desire of many companies is often to simply cut costs. The marketing department can be selected for this cut and in some cases is the first area cut. One could argue that the marketing spend is the one spend or investment in a company which should be maintained or even increased during a recession or economic downturn. Take a position: Marketing spend should be maintained or increased during a recession or economic downturn versus Marketing spend should be cut along with all the other spending in the organisation.arrow_forwardA.3 Yellowburn University, a not-for-profit higher education organization, has the following mission statement: ‘We aim to deliver excellent tuition in state-of-the-art facilities to help develop socially responsible students and to contribute to global academic research.’ Which TWO of the following would be appropriate objectives to fit in with this mission? To deliver the best possible lessons. Each member of staff is to write two research papers for publication over the next two years. To increase car parking space at the university by 10% in the next 12 months to improve access. To get 15% of all students to receive first class honors degrees each year. To ensure 100% attendance from all students for every lecture.arrow_forward2.arrow_forward
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