Concept explainers
a)
To determine: Optimal solution and total cost using northwest-corner method.
Introduction: The major objective of the transportation problem is to minimize the distributing cost of a product from a source to an origin. Transportation problem is one of the type of linear programming.
b)
To determine: Optimal solution and total cost using intuitive lowest-cost starting method.
Introduction: The major objective of the transportation problem is to minimize the distributing cost of a product from a source to an origin. Transportation problem is one of the type of linear programming.
c)
To determine: Optimal solution and total cost using stepping stone method.
Introduction: The major objective of the transportation problem is to minimize the distributing cost of a product from a source to an origin. Transportation problem is one of the type of linear programming.
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Operations Management
- Question 3: Table 2A Expected return for asset x (%) 13 Risk free rate (%) 5 Beta of asset X 0.85 Table 2B Expected portfolio return Portfolio beta Proportion of portfolio in Asset X 0.00 0.25 0.50 0.75 1.00 1.25 There are two portfolio choices. Portfolio A comprises of stocks from following companies: Clothing materials, beauty products, footwear and handbags. Portfolio B consists of stocks from following business: crude oil, information technology, food products and electircal goods. From a diversification perspective, which portfolio will be a better investment? Explain your reasoning in no more than 75 words.arrow_forwardQuestion content area Part 1 The fixed and variable costs for four potential plant sites for Brent Snyder's Ski Supplies are shown below: Site Fixed Cost Per Year Variable Cost Per Unit Atlanta $120,000 $5 Burlington 70,000 4 Cleveland 95,000 3 Denver 45,000 11 Part 2arrow_forwardQUESTION 6 1 pc In the simplex method, if there is a tie (equality) between decision variable and a slack (or surplus) variable in C-Z row for a maximization LP, selected. should be O decision variable O Slack variable O Any variable with highest posative value O surplus variablearrow_forward
- QUESTION 3 Consider the following linear programming problem. Max 20x + 10Y s.t. 12X+15Y≤ 180 15X+10Y ≤ 150 3X-8Y≤0 X, Y≥O The graph below is the solution to the problem. Use this graph to answer the following question; (a) Which area (I, II, III, IV, or V) forms the feasible region? (b) Which point (A, B, C, D, or E) is optimal? (c) Which constraint are binding? (constraint involved with the optimal point) (d) Which slack variable are zero? (constraint that does not have an excess unit) A 10 E V 10 QUESTION 4 Find the complete optimal solution for the following linear programming problem (the value for X, Y, min value, S1, S2, S3) Min 5X + 6Y s.t. 3X + Y ≥ 15 X+2Y≥ 12 3X+2Y ≥ 24 X, Y≥0 QUESTION 5 For the following linear programming problem. Determine the optimal solution by the graphical solution method. Are any of the constraints redundant? If yes, then identify the constraint that is reduandant. Max X + 2Y s.t. X+Y≤3 X-2Y≥0 Y≤ 1 X, Y≥0arrow_forwardQuestion 4An investor is to purchase one of three types of real estate, as illustrated in Figure below. Theinvestor must decide among an apartment building, an office building, and a warehouse. Thefuture states of nature that will determine how much profit the investor will make are goodeconomic conditions and poor economic conditions. The profits that will result from eachdecision in the event of each state of nature are shown in Table below: a) Find the optimal act using Maxi-Max criteriab) Find the optimal act using Mini-Max criteria c) Find the optimal act using Maxi-Min criteria d) Find the optimal act using Min-Max regret tablearrow_forwardQuestion: B) Identify The Economic Order Quanitity And Consider The Implications For Making An Error In Calculating Economic Order Quanitity. This problem has been solved! See the answer b) Identify the economic order quanitity and consider the implications for making an error in calculating economic order quanitity.arrow_forward
- QUESTION SIX (a) Suppose that a decision is faced with three decision alternatives and four states of nature. The following profit payoff table is constructed: Alternatives State of Nature 1S 2 S 3 S 4 S 1Α 2Α 3Α 18 15 13 12 14 16 15 10 19 8 11 15 Assuming that the decision maker has no knowledge about the probabilities of occurrence of the four states of nature, find the decisions to be recommended under each of the following criteria: iii. Minimax Reject criterion iv. Hurwicz criterion with 0.6 α =arrow_forwardQuestion 1 1.A person who has graduated from an engineering program at an accredited university, but has notobtain a registration/license under Board of Engineer Malaysia (BEM) to practice engineering:A. must follow the code of ethics of a technical society, if the person practises engineeringB. must not practise engineering, except under the supervision of a licensed engineer.C. must follow the code of ethics, if the person practises engineeringD. must not practise engineering2. Which of the following activities is an offense for a person who is not registered/licensed undertheprofessional engineering Act in Malaysia:A. Practising professional engineering.B. Using the Professional Engineer (PE) title.C. Using a term or title to give the belief that the person is licensed.D. All of the above3. Codes of ethics mention the engineer’s duties to society, to employers, to clients, to colleagues, tosubordinates, and to the profession. However, when these duties conflict, which group should…arrow_forwardQUESTION THREE A) Use the simplex method to solve the following LP problem. Maximize Z = 3x, + 5x, + 4x, subiect to the constraints 2x, + 3x, < 8 2x, + 5x, < 10 3x, + 2x, + 4x3 S 15 B)Find the solution using two-phase method Minimize Z =x, + 2x, + 3x3 - x4 Subject to the constraints 5x, + 7x, +4x 57 -4x, +7x, + 5x, 2 -2 3x, + 4x, + 6x, 2 29/, CIWrite the dual ofthe following LP problem Maximize Z = x, + 2x, + 3x3 Subject to the constraints X1 + x2 + x3S 10 2x, - x2 - x3 < 2 2x, - 2x, - 3x, S6arrow_forward
- Question 9 ADM Security Consultants is a small security service company, whose specialty is providing security on a short term basis for single events such as concerts. The company has an offsite technical team of operators that back up the security personnel that are onsite The following table shows the staffing requirements of the technical team on each day of the week. These operators work long hours and management.wishes to create a staffing schedule that ensures each operator gets two consecutive days off. Schedule each operator, guaranteeing two consecutive days off MO TUE WED THUR FRI SAT SUN Requirement 2. 4. 2arrow_forwardQuestion 1: The following data are available about the returns of two stocks and market portfolio: Economic State Probability Stock A (%) Stock B (%) Market portfolio (%) Deep Recession 0.05 -3 -2 -13 Mild Recession 0.20 6 9 1 Average 0.50 11 12 15 Mild Boom 0.20 14 15 29 Strong Boom 0.05 19 26 43 Table 1 You are required to: a) Compute the expected return for stocks A and B b) Compute the standard deviation for stocks A and B. Which stock is riskier? c) Compute the expected return of a portfolio that comprises of 70% stock A and 30% stock B d) Compute the standard deviation of returns for the market portfolio e) Which, among stocks A, B and the market is riskier? Respond in light of your computationsarrow_forwardQuestion 3 A research collaboration can be enhanced by: Limiting the communication between researchers and industry partners. Avoiding the issue of which journal to target since research team members might disagree. Discussing intellectual property issues while the collaboration is forming. Waiting to discuss authorship issues until after data collection. Question 4 In any collaboration, data ownership is typically determined by: The research team with access to the best lawyers. The individual who does the most work on the project. The type and source of funds used to support the project. The relevant department chairs.arrow_forward
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