c. Find the optimal solution by using the algebraic method.d. Find the optimal solution by using solver.e. Interpret your sensitivity report. 3. A manufacturing company wishes to determine how many of two products they should produce in orderto maximize total profit. The labor and material requirements and the contribution to profit for each ofthe three products are as follows:ResourcesLabor (hr/unit)Materials (lb/unit)Profit ($/unit)Resource RequirementsProduct 1 Product 2543265Availability240 hrs400 lbs.

Find the Given details below: Given details:ResourcesProduct 1Product…

Answered: A manufacturing company wishes to…

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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Hudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing, or using a combination of its staff and an outside vendor. The profit of the corporation depends on future demand. The annual profit of each option (in thousands of dollars) depends on demand as follows: Demand Staffing Options High Median Low Own staff 650 650 600 Outside vendor 900 600 300 Combination 800 650 500 Recommend a decision based on the use of the optimistic, conservative, and minimax regret approaches. If the demand probabilities are 0.2, 0.5, and 0.3, respectively for High, Median, and Low demands, use the expected value approach to determine the optimal decision(show steps).
xxx=182
i need the solution for this question using excel solver ( simplex method ) send me a screenshot of the solution in excel
The lease of Theme Park, Inc., is about to expire. Management must decide whether to renew the lease for another 10 years or to relocate near the site of a proposed motel. The town planning board is currently debating the merits of granting approval to the motel. A consultant has estimated the net present value of Theme Park’s two alternatives under each state of nature as shown on the following page. What course of action would you recommend using?a. Maximaxb. Maximinc. Laplaced. Minimax regretOptionsMotelApprovedMotelRejectedRenew $ 500,000 $4,000,000Relocate 5,000,000 100,000
1. Buskin's Donuts can make donuts for $0.25 each with their current equipment. They could purchase a different fryer for $12,000 which would reduce their costs to $0.20 each. Or, they could buy a bigger fryer for $42,000 and decrease their cost to $0.17 each. Find the break-even points and graph your solution. Over what output range would each option be preferred? 2. Madonna's Burgers is considering making hamburger buns in- house instead of buying them from its supplier. It has estimated the fixed costs for a used over to be $7,000 and the variable costs for the buns to be $0.25. It purchases buns for $0.50 each, and there are no fixed purchase costs. Its annual demand for buns is forecasted to be 15,000. Madonna's wants to know how many buns it has to make to break even. 3. Josh's Hot Dogs is a one-person hot dog stand, and normally gets about 14 customers per hour. Assuming that Josh can serve one customer in about 3 minutes. What impact does this have on the queuing…
Mary Williams, owner of Williams Products, is evaluating whether to introduce a new product line. After thinking through the production process and the costs of raw materials and new equipment, Williams estimates the variable costs of each unit produced and sold at $8 and the fixed costs per year at $70,000. Williams forecasts sales of 12,000 units for the first year if the selling price is set at $15 each. What would be the total contribution to profits from this new product during the first year?
Rochor & Co has the following sales forecast for the next quarter: April, 20,000 units; May, 24,000 units; June, 28,000 units. Sales totalled 16,000 units in March. The March finished goods inventory was 4,000 units. End-of- month finished goods inventory levels are planned to be equal to 20 percent of the next month's planned sales. How many units would be produced in April? Group of answer choices 20,000 units 20,800 units 5,600 units 4,800 units
make a prioritization matrix with the following five whys:
Northern Engineering is analyzing a mining project. Annual production, unit costs, and unit revenues are in the table. The first cost of the mine setup is $6 million. If MARR is 15%, what is the PW? Year Annual Production (tons) 90,000 120,000 120,000 100,000 80,000 60,000 40,000 Cost per ton $25 Price per ton $35 1 20 36 22 37 24 38 26 39 6. 28 40 7 30 41
A company is considering three vendors for purchasing a CRM system: Delphi Inc., CRM International, and Murray Analytics. The costs of the system are expected to depend on the length of time required to implement the system, which depends on such factors as the amount of customization required, integration with legacy systems, resistance to change, and so on. Each vendor has different expertise in handling these things, which affect the cost. The costs (in millions of $) are shown below for short, medium, and long implementation durations. Use the Excel template Decision Analysisto identify what vendor to select. Decision Alternative Short Medium Long Delphi Inc. $4.00 $4.80 $8.40 CRM International $5.00 $5.75 $7.15 Murray Analytics $4.25 $5.90 $6.30 Fill in the table below for maximum and minimum costs under each alternative. Carry out an analysis considering costs as negative numbers. Round your answers to the nearest cent. Decision Alternative Maximum Minimum…
(b) Solve the linear program developed in part (a), to determine the optimal production plan. If the amount is zero, enter "0". Qty Produced Phillipines Mexico PT-100 PT-200 PT-300 Total Cost = __________$ (c) Use sensitivity analysis to determine how much the production and/or shipping cost per unit would have to change to produce additional units of the PT-100 in the Philippines plant. If required, round your answer to two decimal digits. At least $ _________/ unit. (d) Use sensitivity analysis to determine how much the production and/or shipping cost per unit would have to change to produce additional units of the PT-200 in the Mexico plant. If required, round your answer to two decimal digits. At least $ _______/ unit.
29.2 1 8:20 +99 KB/s Spencer Cruz chose to research a topic that he is very interested with. He completed the necessary chapters for him to be allowed to proceed to defense proposal. As he prepared for data gathering after the successful proposal, he obtained a list of companies from the Business Bureau of his city. He realized that those establishments where his respondents are employed are all located in far-flung areas. AS he has concerns with regard to expenses to be incurred in data gathering, He remembered that some of his neighbors work in those companies. He contacted them immediately so that they will be the ones to hand the survey questionnaires to their colleagues. Because of the busy activity of distributing questionnaires and people answering them, it has affected the productivity and output in one of the companies being studied. The middle management caught Mr. Cruz's neighbor and immediately implemented a sanction for such activity. 1. What is unethical about the data…

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