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_forwardQ.2 Mrs. Y is the CEO of the big advertisement company. Her job often consists of travelling around the world to promote the channel as well travelling, a normal day consists of waking at 6:30 am and immediately responding to various messages that have accumulated over the course at the night. She then goes to her office, where throughout the day she responds to other 400 or so messages from the clients around the world. If she’s lucky, she gets time to spend with her son, but then she back to work until she finally goes to bed around midnight. Says Y, "There are plenty of people who would love to have this job. They are knocking on the door all the time. So that's really motivating. Many individuals would balk at the prospect of a 60 hours or more workload with constant travelling and lesser time for anything in the world. Some individuals are craving for this kind of job. But the demands of such jobs are clearly not for everyone. Many quit jobs at very initial stage. However, clearly…arrow_forwardQ.5. Name the barriers which are related to the branch of linguistics?arrow_forward
- Calculate Expected Value of Perfect Information (EVPI)arrow_forwardQ12arrow_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_forward
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