6 12. A company wants to plan production and inventory levels for its new product forthe next 4 months so as to minimize the inventory holding and production costs.Demand is anticipated to be 130, 160, 270, and 150, respectively. The product ismanufactured at the cost of $32 per unit. The cost of carrying one unit of inven-tory at the end of the month is $4. The inventory level at the beginning of the firstmonth is 10 units and inventory required at the end is at least 20 units. Otherinformation is given below:EinoMMONTHPRODUCTION CAPACITY11602003210daga 4160a. Formulate a linear program, clearly defining all variables used, to determinethe production and inventory in each period that minimizes the total cost.bob. Use Solver to find the optimal solution to the linear program from part a.

A linear program (LP) is a mathematical optimization problem that involves finding the values of…

Answered: a. Formulate a linear program, clearly…

Practical Management Science

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ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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

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1. (30 pts.) A company that manufactures three products, A, B, and C, using three machines, M1, M2, and M3, wants to determine the optimal production schedule that maximizes the total profit. Product has to be processed by machines M1, M2, and M3, product B requires M1 and M3, while product Crequires M1 and M2. The unit profits on the three products are $4, $2, and $5, respectively. The following linear program is formulated to determine the optimal product mix: Maximize Z=4x+2x2+5x3 5.L x+2x2+ x ≤430 (Machine 1) 3x + 2x ≤ 460 (Machine 2) x+4x2 ≤450 (Machine 3) and 11.12.20 where x1, x2, and xs are the amounts of products A. B, and C and the constraints reflect the available capacities of M1, M2, and M3. The optimum solution for the problem is as follows: optimal solution: -0, -100, x-230 optimal value: maximum profit, Z=1350 shadow prices: 1.0, 2.0, and 0.0 for constraints 1, 2 and 3 respectively reduced costs: for x 3.0, for x = 0, for x)=0 RANGES ON RIGHT-HAND-SIDE (RHS) CONSTRAINTS…
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Ch8 1. The chapter discusses the notion of transfer of training. Why is transfer of training so important? Pretend you are a training coordinator in an auto wheel assembly plant. What steps would you take to enhance transfer of training among your training participants?”
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<. FROM T. I 13 Paragraph Styles A company produces its automobile model in three plants located in Flint, Michigan; Fresno, California; and Monterrey, Mexico. The cars are distributed to dealers through the regional distribution centers located in Phoenix, Arizona; Davenport, Iowa; and Columbia, South Carolina. Anticipated production at the plants over the next month is 3,300 cars at Flint, 2,600 cars at Fresno, and. 3,100 cars at Monterrey. Based on firm orders and other requests from dealers, the company has decided that it needs to have the following numbers of cars at the regional distribution centers at the end of the month: Phoenix - 2,600 cars; Davenport- 2,800 cars; and Columbia – 3,000 cars. | In order to deal more effectively with unforeseen events (such as the road closing), the company has established two transshipment points between the plants and the regional distribution centers. The two transshipment points are located at Santa Fe, New Mexico, and Jefferson City,…
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a. Formulate a linear program, clearly defining all variables used, to determine the production and inventory in each period that minimizes the total cost. bon moun bas b. Use Solver to find the optimal solution to the linear program from part a. pitagarit!