1.plot all the corner points for the feasible area. 2. Find the optimum solution to X= Y= VALUE Z=
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Example 14c
1.plot all the corner points for the feasible area.
2. Find the optimum solution to
X=
Y=
VALUE Z=
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- L.P. Model: Minimize Subject to: Z = 24X + 15Y 7X+11Y 288 16X+4Y≥64 X,Y 20 On the graph on right, constraints C, and C, have been drawn. Using the point drawing tool, plot all the corner points for the feasible area. (C₁) (C₂) 24- 22- 20- 18- 16- 14- 12- 104 8 6- 4- 2- 0+ 0 2 4 6 8 10 12 14 16 18 20 22 24 X Q SL.P. Model: Minimize Subject to: Z = 15X+12Y 7X+11Y288 (C₂) (C₂) 16X+4Y280 X,Y 20 On the graph on right, constraints, C, and C₂ have been drawn. Using the point drawing tool, plot all the corner points for the feasible area. 24- 22- 20- 18- 16- 14- 12- 10 8- 64 4- 2- -N 10 12 14 16 18 20 22 24 X C G2. Maximize subject to p = x + 2y X +3y24 2x + y 18 x ≥ 0, y ≥ 0.
- Explain or define each of these terms:a. Laplace criterionb. Minimax regretc. Expected valued. Expected value of perfect information1. 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.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 40 160 160 320
- L.P. Model: Maximize Subject to: Z= 1X + 10Y 4X + 3Y ≤ 36 2X+4Y ≤ 40 1Y27 X,Y 20 (C₁) (C₂) (C3) 1.) Plot and label the constraints C₁, C₂ and C3 (using the line drawing tool) on the provided graph. 2.) Using the point drawing tool, plot the point that maximizes the objective function. The optimum solution is: X = (round your response to two decimal places). Y = (round your response to two decimal places). Optimal solution value Z = (round your response to two decimal places). C Y 22- 20- 18- 16- 14- 12- 10- 8- co 6+ 4- 2- ó -~ 0 2 -4 4 -6 8 10 12 X . . 14 16 18 20 22 Lyvariables $E$11 47000 0 35 7.0000001 8.0000001 BO Constraints Final Shadow Constraint Allowable Allowable Cell Name Value Price R.H. Side Increase Decrease $B$16 LHS 55000 41 55000 10500 47000 $B$17 LHS 72000 35 72000 10500 47000 $B$18 LHS 80000 -8 80000 47000 10500 10500 $B$19 LHS 47000 0 57500 1E+30 The answers to the questions are found in this sensitivity report. Questions: Write your responses in the space provided 1. What is the range of optimality for the BN and BO variables? write your answers in this format: Lower limit <= Coefficient of BN <= Upper limit. Example 22 <= C of BN <= 40 2. What is the range of feasibility for the constraints located on B17 and B18? 3. If the right-hand side of the constraint located on B17 is decreased by 200, what is the effect on the value of the objective function?The Bayside Art Gallery is considering installing a video camera security system to reduce its insurance premiums. A diagram of the eight display rooms that Bayside uses for exhibitions is shown in the figure below; the openings between the rooms are numbered 1 through 13. Entrance Room 1 Room 2 1 4 8 12 Room 3 Room 4 7 Room 5 10 Room 6 2 5 13 Room 7 11 Room 8 A security firm proposed that two-way cameras be installed at some room openings. Each camera has the ability to monitor the two rooms between which the camera is located. For example, if a camera were located at opening number 4, rooms 1 and 4 would be covered; if a camera were located at opening 11, rooms 7 and 8 would be covered; and so on. Management decided not to locate a camera system at the entrance to the display rooms. The objective is to provide security coverage for all eight rooms using the minimum number of two-way cameras.
- 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…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 2254|David is looking to purchase an old church building. He hires an appraiser to help determine the market value of the property. Why would the appraiser most likely value the property using the cost approach? O A church is a specialty building that will most likely not have any comparable properties. It is also not an income producing property, so the best method would be the cost approach. O The income capitalization approach should be used rather than the cost approach. O A church building will have at least three comparable properties to use to help determine the market value. O The church building will most likely have income, which when a capitalization rate is applied will help determine the market value