SHORT ANSWER - Linear programming model (Management Science) 1.The relationship d = 5000 - 25p describes what happens to demand (d) as price (p) varies.Price can vary between $10 and $50. How many units can be sold when the price is $10?2.Administrators at a university are planning to offer a summer seminar. It costs $3000 toreserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 perstudent for the administrators to provide the course materials. If we know that 20 people willattend, what price should be charged per person to break even?3.A central heating installation company has a fixed annual cost of $120000. The variablecosts are $1000 per unit. The company charges $3500 per unit installed. Determine thebreak even volume for this company4.The poultry farmer decided to make his own chicken scratch by combining Alfalfa (A) andCorn ('C) in rail car quantities. A rail car of corn costs $400 and a rail car of alfalfa costs$200. The farmer's chickens have a minimum daily requirement of vitamin K (500milligrams) and iron (400 milligrams), but it doesn't matter whether those elements comefrom corn, alfalfa, or some other grain. A unit of corn contains 150 milligrams of vitamin Kand 75 milligrams of iron. A unit of alfalfa contains 250 milligrams of vitamin K and 50milligrams of iron.A.What is the objective of this problem ?B.What is the constraints for this problem ? 5.Ponder the following linear programming problem:Max Z = 5x1 + 6x2Subject to: 3x1 + 4x2 <8x, + 9x2 s 1233x, + 3x2 5 56Xq, X2 > 0What is Z, x1 & x2 ?766. The production manager for the COWRY soft drink company is considering the production oftwo kinds of soft drinks: regular (R) and diet (D). Two of her limited resources are productiontime (8 hours = 480 minutes per day) and syrup (1 of the ingredients), limited to 675 gallonsper day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a dietcase needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 percase and profits for diet soft drink are $2.00 per case.A.What is the objective function?B. Mention all the constraints7.Draw or solve the following graphically:Max z = 3x1 + 4x2X1 + 2x2 s 162x, + 3x2s 18X1 22X2 S 10X1, X2 20What are the optimal values of x4, X2, and z?s.t.

Given the relationship between demand and price is d = 5000 – 25p And, the price varies between $10…

Answered: 1.The relationship d = 5000 - 25p…

1.The relationship d = 5000 - 25p describes what happens to demand (d) as price (p) varies. Price can vary between $10 and $50. How many units can be sold when the price is $10?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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