b) Find the optimal solution for the following feasible region considering the objectivefunction listed below. Draw 3 iso profit lines with optimality direction. Identify theoptimum solution(s) in the graph.Maximize Z = 2x26E(0,0)5C(0,4)43-21001D(3,5)N.2x14A(5,0)5B(6,2)67

Linear programming is one of the mathematical techniques that is widely used by companies. This…

Answered: b) Find the optimal solution for the…

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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In terms of dynamic programming, define the optimality principle.
A payoff matrix has to be prepared with three alternative products Α1 , Α2 and Α3 . The respective cost costs of these products are K2, K2.50 and K4 per unit and their sale prices are K3, K4 and K5 per unit respectively. The normal production capacity of the plant for production of each of the products Α1 , Α2 and Α3 is 3,000, 2,000 and 1,000 units respectively. i. Showing all the working clearly, prepare the payoff table if the states of demand are high (S1 ) , moderate (S2 ) and low (S3 ) with respective demand levels of 3,000, 2,000 and 1, 000 units. The stocks unsold will be worth half the cost price for the next period. ii. What is the maximax decision? iii. What is the maximin decision? iv. What is equally likely decision? v. What is the criterion of realism decision? Use α = 0.8 vi. Develop an opportunity loss table and determine the minimax decision.
A fruit juice manufacturer has recently begun negotiations with brokers in the areas where it intends to distribute its products. Before finalizing the agreements, however, the manager wants to determine shipping routes and costs. The firm has three plants with the capacities as shown below: Estimate demands in each of the warehouse localities are: PLANT CAPACITY (PIECES PER WEEK) WAREHOUSE 1 2 3 400 800 600 A B C D DEMAND (PIECES PER WEEK) 900 200 400 300 The estimated ship cost per box for the various routes are: ΤΟ FROM A B C D 1 5 7 9 12 2 10 7 2 3 3 8 9 6 4 Row/Column Opportunity Cost Demand Row/Column Cell Total Cost Opportunity Cost Cost of the above Test of unallocated Cells allocation Supply Amount char
How did you find the solutions in the table for the range of optimality for the profit coefficient?
Valencia Products makes automobile radar detectors and assembles two models: LaserStop and SpeedBuster. Both models use the same electronic components. After reviewing the components required and the profit for each model, the firm found the following linear optimization model for profit, where L is the number of LaserStop models produced and S is the number of SpeedBuster models produced. Implement the linear optimization model on a spreadsheet and use Solver to find an optimal solution. Interpret the optimal solution, identify the binding constraints, and verify the values of the slack variables. Maximize Profit = 123 L+ 139 S 18 L 11 S≤ 3000 5 L+9 S≤2500 L≥ 0 and S≥ 0 (Availability of component A) (Availability of component B) Implement the linear optimization model and find an optimal solution. Interpret the optimal solution. The optimal solution is to produce LaserStop models and possible profit, SpeedBuster models. This solution gives the which is $ (Type integers or decimals…
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How would you write the optimal solution for these?
A manufacturing company has 4 factories and 3 warehouses. The costs for transporting its products from factories to ware houses, the supply capacity of factories and demands in warehouses are given respectively by 6 4 81 70 170 4 3 2 C = 130 S = D= 200 2 4 7 100 130 1 5 8 200 a. Use minimum cost method to find an initial feasible solution. b. Determine the amount of products to be transported from factories to warehouses to minimize the cost.
2

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b) Find the optimal solution for the following feasible region considering the objective function listed below. Draw 3 iso profit lines with optimality direction. Identify the optimum solution(s) in the graph. Maximize Z = 2x2