Po.4. A rental car company has an imbalance of cars at seven of its locations. The following net-work shows the locations of concern(the nodes) and the cost to move a car between locations. A positive number by a node indicates an excess supply at thenode, and a negative number indicates an excess demand (Notice that there are as many cars in need "excess demand" asthere are available "excess supply.")Develop a network model for restoring the proper balance (demand = supply = 0) to determine how many cars to redistributeamong the locations.-812020+525+323272545305 +23528156-54-312277+6

The network model, in demand and supply refers to a situation where the demand and supply of a…

Answered: A rental car company has an imbalance…

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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Q1. Hotel manager Mr. Smith and his resourceful assistant, John, run a 26-room hotel in a little town. A combination of Mr. Smith's friendly attitude and the absence of a respectable hotel in the nearby vicinity imply that Mr. Smith enjoys sufficient demand at his low fare of $159 per night. John notes that some customers will walk into the hotel requesting a room for that evening and they are willing to pay a high fare of $325 per night. John knows this demand is variable. (In reality, this demand is U(4,9)) He suggests some rooms should be kept unsold to the low-fare customers so that they can serve the high-fare customers. a) To maximize profits with John's plan, what is the booking limit that should be set for low fare customers? b) Mr Smith does not like the idea of John and says “we will sell to everyone who reserves in advance and ignore the walk-in demand." If Mr Smith has his way, what will be the hotel's expected revenue? C) John replies, "If you are going to forgo the…
Additional Question. The XYZ steel company must determine a policy for ordering coal to operate 15 converters. The ordering cost is $85/order and the cost of holding coal is 15% of the purchasing cost. The XYZ has a contract to obtain the coal for $14 per ton for the coming year. Each converter requires exactly 8 tons of coal per day to operate, and the firm operates 300 days per year. a. Determine the optimal quantity of coal to receive in each order. b. Determine the total inventory-related cost associated with the optimal ordering policy c. Optimal number of orders to place per year and number of operating days between orders, based on the optimal ordering. d. The XYZ is now considering to the following discount policy provided by supplier: Order Quantity (tons) 1,000 - 1,999 Price per ton $14 $12 $10 2,000 - 2,999 3000+ Please help the XYZ to determine the amount the firm should order.
A.3 Yellowburn University, a not-for-profit higher education organization, has the following mission statement: ‘We aim to deliver excellent tuition in state-of-the-art facilities to help develop socially responsible students and to contribute to global academic research.’ Which TWO of the following would be appropriate objectives to fit in with this mission? To deliver the best possible lessons. Each member of staff is to write two research papers for publication over the next two years. To increase car parking space at the university by 10% in the next 12 months to improve access. To get 15% of all students to receive first class honors degrees each year. To ensure 100% attendance from all students for every lecture.
Question 18 Suppose the number of buyers in a market increases and a technological advancement occurs also. What would we expect to happen in the market? O a Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous Ob. Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous. Oo Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous O d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous
ASSIGNMENT 2D- Minimization of Profit (Graphical Method) An animal food producer mixes two types of animal food: x and y. each unit of x costs P100 and contains 40 grams of fat, 20 grams of protein and 1,600 calories. Each unit of y cost P80 and contains 60 grams of fat, 60 grams of protein and 1,200 calories. Suppose the producer wants each unit of the final product to yield at least 360 grams of fat, at least 240 grams of protein and at least 9,600 calories, how many of each type of grain should the producer use to minimize his cost. What is the cost?
Question 10 Acompetitive advantage based on inimitability can be sustained for at least some time, if it has the following characteristics: Opsychographic uniqueness, path dependency, causal ambiguity, and substitutability. Ophysical uniqueness, path complexity, social ambiguity, and causal dependency. Opath dependency, causal ambiguity, rarity, and social substitutability. causal ambiguity, path dependency, physical uniqueness, and social complexity.
Question 3 A Company produces five products using two machines, two raw materials and labour. The profit per unit for each product, availability of each resource and the requirement of each resource for each product are as below Excel sheet. In addition, each product has a maximum market demand. The company does not wish to exceed this for any product. The objective is to maximise profit subject to availability of resources and market demands. A 1 2 Prod 1 3 Prod 2 4 Prod 3 5 Prod 4 6 Prod 5 7 8 B 15. 384615 30. 769231 9 10 Prod 1 11 Prod 2 12 Prod 3 13 Prod 4 14 Prod 5 15 16 17 18 Total Profit 19 2838. 4615 0 200 100 C D Max Market Profit/unit 100 50 50 200 100 Machine Machine 2 0.3 0.5 0.4 0.5 0.4 0.8 0.6 0.9 0.5 0.4 $6.00 $8.00 $5.00 $9.00 $7.00 E F Material 1 Material 2 Labour 0.5 0.7 0.4 0.8 0.2 0.9 0.3 0.6 0.4 0.5 Machine 160 K Machine 170.76923< Material 1 120< Material 2 205.38462 Labour 137. 69231 0.6 0.6 0.5 G 0.4 0.3 H I Avail 160 400 120 280 300

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