apply appropriate techniques to solve a range of models of mathematical and real-worldproblemsanalyse the effects of changing model parameters on LP model predictions *select and develop appropriate mathematical models for decision making problems(a) A stationary supplies company wishes to produce deluxe and budget ink pens. Deluxe inkpens require eight units of material and 9 minutes to produce each pen. Budget ink pensrequire six units of material and 4 minutes to produce each pen. The company has 38.25hours of labour and 1950 units of material available per week. Profit for deluxe ink pens is$2.40 per pen and for budget ink pens is $1.75 per pen. The company also wants the numberof deluxe ink pens to be produced to be at least 6 times the number of budget ink pensproduced. Formulate a Linear Programming problem to determine the company's bestproduction plan to maximise profit (do not solve).(b) Solve the following Linear Programming problem using the Simplex Method. Full working byhand must be shown.From the following tableau determine the current solution to the linear programming problemand its type. Explain your reasoning.CB490CjXBx32182ZjZj - Cj9x10109015I203427124x3100400$1-151414108200100083-2241010b422-13186

Answered: Image /qna-images/answer/793d5bf1-6c4d-4a67-b5a7-f98006827413.jpg

Answered: (a) A stationary supplies company…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Ο a) What is the optimal size of the production run? units (round your response to the nearest whole number). Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days per year. It has orders for about 12,300 flashing lights per year and has the capability of producing 105 per day. Setting up the light production costs $51. The cost of each light is $0.95. The holding cost is $0.15 per light per year.
A lathe is used to process an automobile part. The processing time per part is 4 minutes. After producing 140 units of the part, the lathe requires a 46 minute maintenance process. Demand for the part is 11 units per hour. What is the maximum inventory of a part (in units)?
12-17
Customers at Joe’s Office Supply Store demand anaverage of 6,000 desks per year. Each time an order isplaced, an ordering cost of $300 is incurred. The annualholding cost for a single desk is 25% of the $200 cost of adesk. One week elapses between the placement of an orderand the arrival of the order. In parts (a)–(d), assume that noshortages are allowed.a Each time an order is placed, how many desks shouldbe ordered?b How many orders should be placed each year? c Determine the total annual costs (excluding purchas-ing costs) of meeting the customers’ demands for desks. d Determine the reorder point. If the lead time werefive weeks, what would be the reorder point? (52 weeksone year.)e How would the answers to parts (a) and (b) changeif shortages were allowed and a cost of $80 is incurredif Joe’s is short one desk for one year?
Possible answer 75%, 40.4%, 45.5% 37.5%
Which of the following would be included in inventory carrying cost calculation? a. Order Processing b. Inventory Control c. Warehousing and Storage d. Traffic and Transportation e. Return Goods Handling
A manufacturer's average WIP inventory for Part #2934 is 900 parts. The workstation produces parts at the rate of 275 parts per day. Use the Excel template Little's Law to find the average time a part spends in this workstation. Round your answer to two decimal places.
Lisa makes two sorts of jewelry- Type A and Type B. Type A requires 90 minutes of curving and 1hours of assembly time. On the other hand, Type B requires 45 minutes of curving and 2 hours of assembly time. Lisa can sell Type A for $12 and Type B for $55. Given that Lisa has only 1000 hours of curving 500 hours of assembly time. How many of each type of Jewelry Lisa should make to maximize revenue? Keep in mind that Type A jewelry has to be at least twice the number of Type B jewelry. (Possible Answer: $9875) (Suggestion: Convert all the hours to minutes so that you do not end up mixing hours and minutes) CAN YOU DO THIS QUESTION IN THIS TEMPLATE ? Data Curving Assembly Price A 1.5 1 $ 12.00 B 0.75 2 $ 55.00 Model Decision Variables A 0 X B 0 Y…
A company that produces hair dryers buys some of the compnents, but it makes the heating element, which it can produce at the rate of 850 per day. Hair dryers are assembled daily, 250 days a year at a rate of 325 per day. Because of the disparity between the production and usuage rates, the heating elements are periodically produced in batches of 2,400 units. a. approx how many batches of heating elements are produced annually?
ABC Corporation recently decided to switch to just-in-time (JIT) inventory system. At the beginning of this switch, the firm has 40 units of product in inventory. The firm has 2,500 labor hours available in the first month of this switch. These hours could produce 700 units of the product. Customer demand for this month is 500 units. If JIT principles are correctly followed, how many units should the firm produce in the first month of the switch? a. 40 b. 740 c. 500 d. 460 e. 660 f. 200
It is costly to hold inventory, but inventory can also be useful in a process because:a. adding inventory to a process will shorten the average time a unit spends in a process.b. adding inventory to a process can help reduce situations in which sales are lost due touncertain demand.c. adding inventory to a process is likely to increase quality.d. adding inventory to a process will increase the profit margin of the item.
Swenson Saws produces bow, frame, dovetail, and tenonsaws used by craft furniture makers. During an 8-hour shift,a saw is produced every 6 minutes. The demand for bow,frame, and dovetail saws is about the same, but the demandfor tenon saws is twice the demand for the other three.a. If mixed-model scheduling is used, how many of each sawwill be produced before the cycle is repeated?b. Determine a satisfactory production sequence for oneunit production. How often is this sequence repeated?c. How many of each saw does Swenson produce in oneshift?

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