a.) Give an example of a business problem where simulation would be helpful. b.) Explain how the simulation is being used to make a business decision.
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- Established in 2002, t-shirts.com has rapidly become the place to find, order, and save on T-shirts. One huge selling factor is that the company manufactures its own T-shirts. However, the quality manager for the production plant, Kasey Harnish, has noticed an acceptable number of defective T-shirts being produced. You have been hired to assist Kasey in understanding where the problems are concentrated. He suggests using a PivotTable to perform an analysis and has provided you with a data file, T3_TshirtProduction_Data.xls. The following is a brief definition of the information within the data file: A. Batch: A unique number that identifies each batch or group of products produced. B. Product: A unique number that identifies each product. C. Machine: A unique number that identifies each machine on which products are produced. D. Employee: A unique number that identifies each employee producing products. E. Batch Size: The number of products produced in a given batch. F. Num Defect: The…What does it mean to say two variables are positively associated? When the value of one variable increases, the value of the other variable also increases. There is a nonlinear relationship between the variables. When the value of one variable increases, the value of the other variable decreases. There is a linear relationship between the variables.need a CLEAR answer and work with it please!
- Solve the problem. Suppose an economy consists of three sectors: Energy (E), Manufacturing (M), and Agriculture (A). Sector E sells 70% of its output to M and 30% to A. Sector M sells 30% of its output to E, 50% to A, and retains the rest. Sector A sells 15% of its output to E, 30% to M, and retains the rest. Denote the prices (dollar values) of the total annual outputs of the Energy, Manufacturing, and Agriculture sectors by Pe. Pm, and Pa respectively. If possible, find equilibrium prices that make each sector's income match its expenditures. Find the general solution as a vector, with pa free. 0.356 Pal Pm-0.686 Pa Pe Pa Pe Pm Pa Pe Pm - Pa Pe Pm Pa Pa [0.465 Pa = 0.593 Pa Pa [0.308 Pa 0.716 Pa Pa 0.607 Pa 0.481 Pa PaA fair charges an admission price of $12.95, and ride tickets cost $2.75 each.(a) Create a model for this situation. (Recall that you should define the independent anddependent variables and their units, as well as provide an equation.)(b) How much will someone spend in total at the fair if he goes on seven rides?An LP model for a marketing research application uses the variable HD to represent the number of homeowners interviewed during the day. The objective function minimizes the cost of interviewing this and other categories. There is a constraint that HD ≥ 140. The solution indicates that interviewing another homeowner during the day will increase costs by $15.00. What does this tell you about the HD variable? a.The objective function coefficient of HD is 15. b.The dual price for the HD constraint is 15. c.The objective function coefficient of HD is −15. d.The dual price for the HD constraint is −15.
- Mathematical operation researchAn Investec analyst is looking to invest R180,000 in hopes of getting the highest return possible. There are four investment options available: bonds, mutual funds, stocks, or a savings account yielding interest. The bonds give a 4% annual return, mutual funds give an 9% return, stocks give a 12% return, and the savings account gives a 3% return with all investments being subject to risk. To control for risk, the following constraints are put into place: a) No more than 12% of the total investment can be put into stocks. b) At most 30% must be invested in mutual funds and/or the savings account. c) The amount put in the bonds must be no more than the amount put into the other investments combined. d) The ratio of money invested in mutual funds to the amount invested in stocks and the savings account should be at least 2 to 1. e) All the R180,000 must be invested and no shorting is allowed. Formulate a linear programming model for this problem to get the highest return (i.e., Define…Help me please, this is confusing.
- 2. To rent scooters, Sam's Scooters charges a $30 fee plus $8 per hour. Rosie's charges a $20 fee plus $10 per hour. Independent variable (x): Dependent variable (y): System of equations: { Graph: a. When does it make more sense to rent a scooter from Rosie's? How do you know? b. When does it make more sense to rent a scooter from Sam's? How do you know? c. Is there ever a time where it wouldn't matter which store to choose? Explain.Q3- You may need to use the appropriate technology to answer this question. The product development group at Landon Corporation has been working on a new computer software product that has the potential to capture a large market share. Through outside sources, Landon's management learned that a competitor is working to introduce a similar product. As a result, Landon's top management increased its pressure on the product development group. The group's leader turned to PERT/CPM as an aid to scheduling the activities remaining before the new product can be brought to the market. The activity time estimates (in weeks) are listed in the following table. Activity Optimistic Most Probable Pessimistic A 3 4 5 B 3 3.5 7 C 4 5 6 D 2 3 4 E 5 8 11 F 8.5 9.5 13.5 G 4.5 6 7.5 H 6 7 14 I 2 2.5 6 J 4 5 6 (a) Develop an activity schedule for this project and identify the critical path activities. (Enter your answers as a comma-separated list.) (b) Based solely…Muir Manufacturing produces two popular grades of commercial carpeting among its many other products. In the coming production period, Muir needs to decide how many rolls of each grade should be produced in order to maximize profit. Each roll of Grade X carpet uses 50 units of synthetic fiber, requires 25 hours of production time, and needs 20 units of foam backing. Each roll of Grade Y carpet uses 40 units of synthetic fiber, requires 28 hours of production time, and needs 15 units of foam backing. The profit per roll of Grade X carpet is $200, and the profit per roll of Grade Y carpet is $160. In the coming production period, Muir has 3000 units of synthetic fiber available for use. Workers have been scheduled to provide at least 1800 hours of production time (overtime is a possibility). The company has 1500 units of foam backing available for use. What are the binding constraints of the feasible region of the optimal solution? Constraint 2 only Constraint 1 only…
