1) Max Z = x₁ + 3x2 s.t. 2x1 + 4x2 ≤ 14 6x1 + 2x2 ≤ 12 Xi≥0 The coefficients of the variables in the objective function of each problem represent the profit contributions of products X₁ and x2 in each problem. Try to understand intuitively why the optimal solution is changing for each problem (at a different corner point).
Q: 2. Joe and Noël have just gotten engaged. As they are both business students, they thought they'd…
A: Given data is
Q: ize engagement of employees. B
A: Every team member's behavior is affected by and guided by the values, norms, and actions that make…
Q: The following jobs are waiting to be processed at a small machine center JOB DUE DATE 10 20 30 40 50…
A: Given-
Q: Case 12. FOUR ACES CONSTRUCTION AND HARDWARE SUPPLY: Here, There, and Everywhere In 1964, four girls…
A: Introduction - The case "Four Aces Construction and Hardware supply: Here, There, and Everywhere"…
Q: Briefly explain the following: Strategy formulation Strategy implementation Strategy evaluation
A: Making a great strategy is sometimes easier said than done, but it may put your business on the…
Q: Project Management - Risk Management 1. Risk management is a critical portion of project…
A: Note: - Since the exact question that has to be answered is not specified, we will answer the first…
Q: a) Sequence the jobs according to LPT. According to the LPT rule, the sequence of jobs should be 10,…
A: Scheduling is the process of arranging production activities in order to complete the manufacturing…
Q: The disadvantage of subcontracting is the possible high turnover rate and tired workers. True…
A: Subcontracting refers to hiring an individual or a company to perform a part of job on behalf of the…
Q: Each column must have at least one value in some row to enable Pivot Tables to work properly. O True…
A: A Pivot Table is a powerful tool that helps in summarizing, calculating and analysing the data in…
Q: e of supply chain Company : NESTLE QUESTION: Analysis of the company strategic method to…
A: The largest food manufacturing company in the world, Nestle produces products that are almost always…
Q: Courtney is a programmer receiving requests each week to analyze a large data base. Five jobs were…
A: Given-
Q: What types of information are needed by an inventory manager when making decisions within his or her…
A: A manager of inventory is in charge of overseeing product stock levels. They prepare the sizes of…
Q: A specification for bottle filling has an upper limit of 9.16 ounces and a lower limit of 9.12…
A: Process capability ratio is a statistical measure .It produces output within specification limits.
Q: Zeba Cafe is the most famous coffeeshop in town and located in the town center where most other…
A: Method A. Convenient Sampling Pros: Convenient and Easy to prepare and execute. Cons: The sample…
Q: You are in charge of inventory control of a highly successful product retailed by your firm. Weekly…
A: Given data: Weekly demand =350 units Working days = 6 days per week, 50 weeks per year Then…
Q: Can you please send me an excel file for the solver you have used. My professor told there will be 9…
A: Hit and trial method is a way of finding a solution that can give the desired output by trying out…
Q: You are the manager of Canadian markets for Excite Travel, a firm that provides incentive travel,…
A: An yearly bonus is one of the best financial incentives for recognising a worker's success on both a…
Q: At the Dartmouth Assessment Centre, good students have an 85% learning curve and can do a task in 18…
A: Use the following formula: Tn=T1×Unit time factor For unit time factor, standard table for learning…
Q: Incorporating flotation costs into the analysis of a project will : a. increase the initial cash…
A: Explanation : Flotation costs increase the initial outlay of money because the company must raise…
Q: Volvo Logistics handles shipping for Volvo Trucks NorthAmerica from two Factories. One of these…
A: This is a transportation problem, which can be solved by excel. Solver constraints:
Q: Assuming that a company does not presently possess the expertise necessary to make a project…
A: The delivery of something of value to people requires the application of specific knowledge, skills,…
Q: Problem 1: RRR Distributors Corporation has four sales territories, each of which must be assigned a…
A: Let xij represent each assignment and cij represent the coefficient Objective is to maximize the…
Q: The amount of time that Ed is going to take for the task at the end of: a) 2nd Day minutes (round…
A: Time taken for 1st day = 7 hrs 42 mins = 7*60+42 = 420+42 = 462 mins Learning rate = 85%
Q: A. What is the critical path for this project network? A-B-C-D-E-F-G-H A-C-F-H…
A: Activity diagram: Possible paths: A-C-F-H A-D-G-H B-E-G-H
Q: The IT industry is constantly evolving which causes roles within the industry to change. Choose any…
A: System Architect : A system architect is responsible for devising, configuring, working, and keeping…
Q: forecasting
A: b.2
Q: Cyberphone, a manufacturer of cell phone accessories, ended the current year with annual sales (at…
A: Given data is as follows: The current year annual sales is $42 millionThe rate of inventory is 6…
Q: Using the following information, forecast the rooms sales for the next three months for a 750-room…
A: Forecasting helps to minimize the business risk by predicting the aspects such as demand, weather…
Q: Why has the use of employee teams been so controversial? What are the pros and cons of using…
A: Employee teams is a term used to refer to a small group of team members in an organization.…
Q: A normally distributed process uses 66.7% (i.e. the +/- 3 ? from the mean) of the specification…
A: The percentage of specification width is the same as the 1Cp.…
Q: A manufacturer maintains an inventory of needles. Inventory consumption is constant at 1200 needles…
A: Ans) Formula: Reorder Point = Average Daily usage*Lead Time + Safety stock Average daily usage =…
Q: Kidnly answer the following and include steps: Financial planner Minnie Margin has a substantial…
A: Objective function=(R1−20)2+(R2−22)2+(R3−8)2+(R4+2)2 Constraints: (i) 22.37IS + 15.48LC + 17.42MC +…
Q: What are some of the key elements that make up a service culture?
A: Service is a deed performed by a professional expert to help the user in need. Service unlike…
Q: The total stockout cost = $ enter your response here. (Enter your response as a whole number.)
A: Given: Opening inventory = 200 Stock-out cost of lost sales/unit = $100 Inventory holding cost is…
Q: PROVIDE ACTIONS OR RECOMMENDED ACTIONS TO OVERCOME THE CHALLENGES WHEN IT COMES TO RECRUITMENT AND…
A: Your development might need to be improved by hiring the correct staff, which can cost you time and…
Q: There are many kinds of packaging. For consumer packaging, cardboard and plastic are the two most…
A: Definition The wrapping of the product (used for the transportation of goods) containing the…
Q: Can you explain the answer a bit more. I'm having a hard time understanding which answer is the…
A: Given data: Demand Volume Decision Low Medium High Basic Model $90,000 $110,000 $155,000…
Q: Create the Network Diagram using Activity on Node (AON)
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: ll of lading is a is ve and invoice th True 3) False
A: There are three primary goals of a bill of lading. It is first and foremost a title document for the…
Q: Do global digital payment technology companies like Visa and Mastercards utilize inbound logistics…
A: Inbound logistics refers to the activities associated with the way materials come to the company,…
Q: Southland Corporation's decision to produce a new line of recreational products has resulted in the…
A: Decision-making is influenced by an organization as per the degree of certainty involved in this. In…
Q: Explain the 5 criteria of performance measure
A: Performance management is a crucial component of the workplace since it gives managers and…
Q: A store has the following demand figures for the last five years: Year Demand 1 1000 2 1500 3 1200 4…
A: Formulae used: For Exponential Smoothing Forecast: Ft =α At-1 + (1-α)Ft-1WhereFt-1= forecast for…
Q: The jobs listed below need to be completed Assume that it is now day 140. If the jobs are sequenced…
A: Given-
Q: a) The total amount of hours to build the 13 units = hours (round your response to the nearest whole…
A: Given that: Learning rate = 85% Time taken by 1st unit = 760 hrs
Q: amount of time, whi ly relevant and imp. uch a measure. Wha t?
A: Combining the right tools to produce the results is risk identification.
Q: a) What is Baker's inventory turnover? _______ times per year (round your response to two…
A: Given, Inventory turns = 13 times per year Assets invested = 8% Baker Mfg. Inc. Net…
Q: Blair & Rosen, Inc. (B&R) is a brokerage firm that specializes in investment portfolios designed to…
A: Given: Suppose: I = Internet fund investment in thousands B = Blue chip fund investment in…
Q: Draw the Schedule Network diagram and durate. Ⓒ3 Col Colate for word pass Calculate Back Word paes
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: Argue why “attractiveness of the company” and “reputation and image” are fundamental for…
A: A brand's reputation is how its customers, competitors, stakeholders, and the general public…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- In Example 11.1, the possible profits vary from negative to positive for each of the 10 possible bids examined. a. For each of these, use @RISKs RISKTARGET function to find the probability that Millers profit is positive. Do you believe these results should have any bearing on Millers choice of bid? b. Use @RISKs RISKPERCENTILE function to find the 10th percentile for each of these bids. Can you explain why the percentiles have the values you obtain?Although the normal distribution is a reasonable input distribution in many situations, it does have two potential drawbacks: (1) it allows negative values, even though they may be extremely improbable, and (2) it is a symmetric distribution. Many situations are modelled better with a distribution that allows only positive values and is skewed to the right. Two of these that have been used in many real applications are the gamma and lognormal distributions. @RISK enables you to generate observations from each of these distributions. The @RISK function for the gamma distribution is RISKGAMMA, and it takes two arguments, as in =RISKGAMMA(3,10). The first argument, which must be positive, determines the shape. The smaller it is, the more skewed the distribution is to the right; the larger it is, the more symmetric the distribution is. The second argument determines the scale, in the sense that the product of it and the first argument equals the mean of the distribution. (The mean in this example is 30.) Also, the product of the second argument and the square root of the first argument is the standard deviation of the distribution. (In this example, it is 3(10=17.32.) The @RISK function for the lognormal distribution is RISKLOGNORM. It has two arguments, as in =RISKLOGNORM(40,10). These arguments are the mean and standard deviation of the distribution. Rework Example 10.2 for the following demand distributions. Do the simulated outputs have any different qualitative properties with these skewed distributions than with the triangular distribution used in the example? a. Gamma distribution with parameters 2 and 85 b. Gamma distribution with parameters 5 and 35 c. Lognormal distribution with mean 170 and standard deviation 60You want to take out a 450,000 loan on a 20-year mortgage with end-of-month payments. The annual rate of interest is 3%. Twenty years from now, you will need to make a 50,000 ending balloon payment. Because you expect your income to increase, you want to structure the loan so at the beginning of each year, your monthly payments increase by 2%. a. Determine the amount of each years monthly payment. You should use a lookup table to look up each years monthly payment and to look up the year based on the month (e.g., month 13 is year 2, etc.). b. Suppose payment each month is to be the same, and there is no balloon payment. Show that the monthly payment you can calculate from your spreadsheet matches the value given by the Excel PMT function PMT(0.03/12,240, 450000,0,0).
- If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.Suppose we are solving a maximization problem andthe variable xr is about to leave the basis.a What is the coefficient of xr in the current row 0?b Show that after the current pivot is performed, thecoefficient of xr in row 0 cannot be less than zero.c Explain why a variable that has left the basis on agiven pivot cannot re-enter the basis on the next pivot.Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client's needs. For a new client, Innis has been authorized to invest up to $1.2 million in two investment funds: a stock fund and a money market fund. Each unit of the stock fund costs $50 and provides an annual rate of return of 10%; each unit of the money market fund costs $100 and provides an annual rate of return of 4%. The client wants to minimize risk subject to the requirement that the annual income from the investment be at least $60,000. According to Innis' risk measurement system, each unit invested in the stock fund has a risk index of 8, and each unit invested in the money market fund has a risk index of 3. The higher risk index associated with the stock fund simply indicates that it is the riskier investment. Innis's client also specified that at least $300,000 be invested in the money market fund. Refer to the computer solution shown below. Optimal…
- 2(a) The tableau is not optimal for either maximization or a minimization problem. Thus, when a non-basic variable enters the solution it can either increase or decrease Z or leave it unchanged, depending on the parameters of the entering non basic variable. Basic x1 X2 X3 X4 X5 X6 X7 X8 solution -5 4 -1 -10 620 X8 3 -2 -3 -1 1 12 X3 1 1 3 1 3 X1 1 -1 -4 (i)Categorize the variables as basic and non-basic and provide the current values of all the variables. (ii)Assuming that the problem is of the maximization type, identify the non- basic variables that have the potential to improve the value of Z. If each such 3 variable enters the basic solution, determine the associated leaving variable, if any, and the associated change in Z. (iii)Repeat part (b) assuming that the problem is of the minimization type. (iv)Which non basic variable(s) will not cause a change in the value of Z when selected to enter the solution? (b) Let xij be the amount shipped from source i to destination j in a 5X5…STAR Co. provides paper to smaller companies whose volumes are not large enough to warran paper rolls from the mill and cuts the rolls into smaller rolls of widths 12, 15, and 30 feet. The cutting patterns have been established: 1 2 Pattern 12ft. 15ft. 30ft. Trim Loss 0 4 1 10 ft. 3 0 7 ft. 8 0 0 4 ft. 2 1 2 1 ft. 5 2 3 1 1 ft. Trim loss is the leftover paper from a pattern (e.g., for pattern 4, 2(12)+1(15) + 2(30) = 99 hand for the coming week are 5,670 12-foot rolls, 1,680 15-foot rolls, and 3,350 30-foot rolls. hand will be sold on the open market at the selling price. No inventory is held. Number of: 3Find the Ma X Z = Xit X2 optimal solution by the large M X+ X2 3• ---- S.to メ4 >1 (3) X2 < 2 14) X1 30
- Determine the pivot element in the simplex tableau. (If there is more than one correct pivot element, choose the element with the smaller row number.) X1 X2 X3 S1 S2 3 4 2 1 15 1 20 -8 -3 10 1 row column N O O3. (Note: This is a variation of problem 6 of chapter 16 in your textbook.) Kenya and Dionne live on adjacent plots of land. Each has two potential uses for their land, the present values of each of which depend on the use adopted by the other, as summarized in the table. All the values in the table are known to both parties. Dionne Rental housing Bee keeping Kenya Apple growing A: $200 B: $700 A: $400 B: $650 Pig farming A: $450 B: $400 A: $450 B: $500 a. What is the efficient outcome? b. If there are negotiation costs of $150, what activities will the two pursue on their land? c. If there are no negotiation costs and the two negotiate, what activities will the two pursue on their land? How might a benevolent planner help reduce the costs of negotiating to encourage the optimal combination of land uses?Q1. Build a linear programming model to develop an investment portfolio that minimizes total risk under the above constraints. a) Define the decision making variables. b) Show the objective function. c) Show the constraints. Q2. What is the optimal solution and what is the value of the objective function? Show the relevant portion of the Solver’s output. Fully interpret the results. Q3. What are the objective coefficient ranges for the four stocks? Show the relevant portion of the Solver’s output. Fully interpret these ranges. Q4. Suppose the investor decides that the annual rate of return no longer has to be at least 9% and agrees to at minimum level of 8%. What does the shadow price associated with this constraint indicate about a possible change in total risk that could occur from this lower rate of return? Show the relevant portion of the Solver’s output. Fully interpret the results.