Bangs Leisure Chairs produces three types of hand-crafted outdoor chairs: sling chairs, Adirondack chairs, and hammocks.After reviewing the labor required for each type of chair, the following linear optimization model for profit was found, where S isthe number of sling chairs produced, A is the number of Adirondack chairs produced, and H is the number of hammocksproduced. Implement the linear optimization model and find an optimal solution, ensuring that the number of units produced isinteger-valued. How much difference is there between the optimal integer solution objective function and the linear optimizationsolution objective function? Would rounding the continuous solution have provided the optimal integer solution?Maximize Profit = 35 S + 95 A + 90 H0.5 S + 2 A+ 0.6 H ≤ 500.85 S + 2 A + 3 H ≤ 50S + A+H≤ 502.35 S + 5 A + 4.6 H≤ 120S, A, H≥0The optimal integer solution is to producetheprofit, which is $(Type whole numbers.)(Hours cutting ≤ 50)(Hours assembly ≤ 50)(Hours finishing ≤ 50)(Total hours/month ≤ 120)(Nonnegativity)sling chair(s),Adirondack chair(s), andhammock(s). This solution gives

We formulate the given programming problem in Excel as shown below: The above formulation in the…

Answered: Bangs Leisure Chairs produces three…

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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The distribution of daily demand for rental trucks at a vehicle rental company is shown in the following table: Relative Frequency Demand 0.07 0 0.14 1 0.15 2 0.14 3 0.12 4 0.08 5 0.3 6 Trucks are rented by the day only and the company makes $14 per rented truck per day. The rental company keeps four trucks at this location. Assuming that the stocking decision is optimal, what is the implied range of excess cost per truck per day? a. 0 and 186 b. 8.58064 and 14 c. 14 and 24.8889 d. 6 and 8.58064 e. 34.2759 and 79.3333
Valencia products makes automobile radar detectors and assembles two models. Laser stop 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 19 L + 11 S < 4,000 (availability of component A) 6 L + 9 S < 35000 (availability of component B) L > 0 and S > 0 The optimal solution is to produce how many Laser stop models ? And how many Speedbuster models ? The maximum possible profit is ? Component A is or is not a binding…
A 36,000 square foot office building in Emeryville, California that was 88% leased had a 2023 annual net operating income estimated to be $1,880,000 with gross leases for all its tenants and a three level subterranean parking garage with 180 parking spaces. The 2024 NOI could be increased by all the following, EXCEPT: Increasing the operating expenses by adding additional maintenance staff Increasing the parking income by charging tenants for their employee parking Increasing the occupancy rate of the building by signing leases with new tenants Increasing the rental rates in new leases that are signed for the building
Ana Chavarria, front office manager at The Times Hotel, has completed a yield management seminar at Keystone University and is preparing an argument to adopt this concept at The Times Hotel to present to Margaret Chu, general manager. She begins by com- piling a history of room occupancy and ADRs, which she hopes will reveal areas in which yield management could help. She prepares an electronic spreadsheet that lists rooms sold with corresponding room rates and correlates the data to tourism activities in the area. Ana sends an analysis of revenue realized and revenue potential to Ms. Chu for review prior to their discussion. After reviewing the analysis, Ms. Chu concludes, “This is just another scam; the industry is slow to adopt this,” and disregards the entire report. She knows that occupancy percentage, ADR, and RevPAR are all that you need to be efficient today, so why change? Ana passes Ms. Chu in the lobby, and Ms. Chu indicates her distrust of the yield management concept but…
Abc limited has a production capability of 2.4 million units but currently produces less than 1.3 million units. To reach 75% utilization level at which it is beak even point capacity needs to be reduced by 30%. The company plans to reduce capacity to 1.65 million units which is 82% utilization. The managers intends to close 5 factories which employs 16000 employees therefore cutting capacity by 30% which has a utilization of 80%. Come up with three quandratic equations from the above information.
The warehouse manager wants to gain an understanding of his total costs for the next year. Currently, he expects to have 30 employees earning an average of $18.2 per hour (assume each employee works 1900 hours per year). Her other costs include overhead costs (25.8% of the labor costs) and security (fixed at $35000). Given the current wage pressure, she anticipates having to increase pay by 4.8% next year, but the fixed costs could drop by $750. What is the total cost for the best-case scenario? (Enter whole dollars) Your Answer: The warehouse manager wants to gain an understanding of his total costs for the next year. Currently, he expects to have 28 employees earning an average of $17.9 per hour (assume each employee works 2050 hours per year). Her other costs include overhead costs (23.4% of the labor costs) and security (fixed at $39500). What is the total cost for the base-case? (Enter whole dollars) Your Answer:
Problem 2 Suppose that for years East Campus' short-run Phillips Curve was such that each 1 percentage point increase in its unemployment rate was associated with a 2-percentage point decline in its inflation rate. Then, during several recent years, the short-run pattern changed such that its inflation rate rose by 3 percentage points for every 1 percentage point drop in its unemployment rate. Graphically, did East Campus' Phillips Curve shift upward or did it shift downward?
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?
Andy Mendoza makes handcrafted dolls, which he sells at craft fairs. He is considering mass producing the dolls to sell in stores. He estimates that the initial investment for plant and equipment will be $10,000, while labor, material, packaging, and shipping will be about $8 per doll. He has determined that monthly sales volume is related to price, according to the following equation: v=5000-90p. Develop the nonlinear profit function as a function of price.

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