Answered: all the limited resources available.

Business

Operations Management

all the limited resources available.

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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Mark has a company that produces tables and chairs, both having two different models. The product models and related information are given in the following table. Wood costs 3000 $ per cubic meter and 200 m3 of wood are available for the upcoming month. The cost of labor is 40 $/hour and there are 6000 hours of labor available in a month. Mark sells his products to a big chain retail company. The company purchases all products whatever Mark produces. Mark formulates an LP as follows to determine the optimal monthly production plan such that he maximizes the total profit. Decision Variables: X1 : number of basic tables to be produced. X2 : number of elegant tables to be produced. X3 : number of basic chairs to be produced. X4 :number of elegant chairs to be produced. Max Z = 140 X1 + 345 X2 + 120 X3 + 260 X4 ( maximize total profit) Subject to 0.11 X1 + 0.13 X2 + 0.06 X3 + 0.07 X4 ≤ 200 (constraint on the available amount of wood) 2 X1 + 4.5 X2 + 1.5 X3 + 4 X4 ≤ 6000…
Discuss the application of numerical methods and simulation techniques in solving complex system models, such as those in environmental modeling or financial systems.
the excel file president’s inn guest database provides a list of customers, rooms they occupied, arrival and departure dates, number of occupants, and daily rate for a small bed- and-breakfast inn during one month. room rates are the same for one or two guests; however, additional guests must pay an additional $20 per person per day for meals. guests staying for seven days or more receive a 10% discount. modify the spreadsheet to calculate the number of days that each party stayed at the inn and the total revenue for the length of stay.
The manager of a small firm is considering whether to produce a new product that would require leasing some special equipment at a cost of$20,000 per month. In addition to this leasing cost, a production cost of$10 would be incurred for the first 1000 units (including the 1000th unit). After that, a production cost of$15 would be incurred for the rest. Each unit sold generates$20 in revenue. Determine how many units should be produced each month to make it profitable to produce this product.
Read and answer questions about the following virtual case. ABC FOOD COMPANY The ABC Food Company is a food industry company that produces frozen meat, and Mortadella. It has a staff of 360 employees. The company is located about 20 km from Salalah. About 35% of the employees are women. The company consists mainly of four sections: production, Marketing, HR, and finance. There is one manager for each department. Mr. Mohamed Al-Ahmad is the director of the production and development department. He is the oldest employee of the company. He was hired because of his experience in the field of food production. He holds a certificate from the Mediterranean Institute for Food Industries. He worked as a quality controller in a large company outside Oman for 20 years, His colleagues consider him an efficient and moderate engineer. He spends much of his time over the past month developing a long-term plan to develop an effective decision-making model for future spending on equipment and…
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Federal Rent-a-Car is putting together a new fleet. It is considering package offers from three car manufacturers. Fred Motors is offering 5 small cars, 5 medium cars, and 10 large cars for $500,000. Admiral Motors is offering 5 small, 10 medium, and 5 large cars for $400,000. Chrysalis is offering 10 small, 5 medium, and 5 large cars for $300,000. Federal would like to buy at least 650 small cars, at least 500 medium cars, and at least 650 large cars. How many packages should it buy from each car maker to keep the total cost as small as possible? Fred Motors packages Admiral Motors packages Chrysalis packages What will be the total cost?$
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Read and answer questions about the following virtual case. ABC FOOD COMPANY The ABC Food Company is a food industry company that produces frozen meat, and Mortadella. It has a staff of 360 employees. The company is located about 20 km from Salalah. About 35% of the employees are women. The company consists mainly of four sections: production, Marketing, HR. and finance. There is one manager for each department. Mr. Mohamed Al-Ahmad is the director of the production and development department. He is the oldest employee of the company. He was hired because of his experience in the field of food production. He holds a certificate from the Mediterranean Institute for Food Industries. He worked as a quality controller in a large company outside Oman for 20 years. His colleagues consider him an efficient and moderate engineer, He spends much of his time over the past month developing a long-term plan to develop an effective decision-making model for future spending on equipment and…
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A chef must decide how many chocolate lava cakes to prepare for the upcoming Mother's Day Dinner special. The chef can either prepare 50, 100, or 150 lava cakes. Assume that demand for the lava cakes can be 50, 100, or 150. Each dish costs $5 to make and is priced at for $7 on the menu. Unsold cakes are donated to a nearby charity center. Assume that there is no opportunity cost for lost sales. Which alternative should be chosen based on the maximax criterion?
A student who is majoring in accounting has two jobs offers: one from PwC for $80,000 and one for E&Y for $76,000. She just found out that she has also received an offer from her dream company, Deloitte for $72,000. She also heard from friends that another student last year may have received an offer averaging around $90,000. She wants to take the Deloitte offer, but her OB professor tells her that she needs to negotiate with them for a better salary. In this negotiation, what is her BATNA? O a O b. $76,000 $72,000 $90,000 $18,000 (the difference between $90,000 and $72,000) OC O d. Oe. $80,000