am. 103. Consider a firm that produces a type of highly expensive shoes at two plantslocated in a particular country. Customers (e.g., retailers) from three neighborcountries have placed orders from the firm. The table below shows unit price chargedfor shoes shipped to each of those customers (the assumption is: unit prices vary dueto differences in shipping costs, customs quota, etc.)The number of units that will be produced at each plant and the number of unitsordered by each customer are also given in the table.ΤοFromCustomer1Unit pricesCustomerCustomerOutput23Plant 1$70$80$70400 unitsPlant 2Order size$50300 units$110$80500 units150 units450 unitsA decision needs to be made about the shipping plan for how many unitsto ship from each plant to each customer so as to maximize profit.Formulate a linear programming model for this problem (also define1decision variables clearly) (do not attempt to solve; only formulationwith all the components of LP is required).

Linear Programming Model FormulationObjective: Minimize the total shipping cost.Decision Variables:…

Answered: Consider a firm that produces a type of…

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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Q1. Hotel manager Mr. Smith and his resourceful assistant, John, run a 26-room hotel in a little town. A combination of Mr. Smith's friendly attitude and the absence of a respectable hotel in the nearby vicinity imply that Mr. Smith enjoys sufficient demand at his low fare of $159 per night. John notes that some customers will walk into the hotel requesting a room for that evening and they are willing to pay a high fare of $325 per night. John knows this demand is variable. (In reality, this demand is U(4,9)) He suggests some rooms should be kept unsold to the low-fare customers so that they can serve the high-fare customers. a) To maximize profits with John's plan, what is the booking limit that should be set for low fare customers? b) Mr Smith does not like the idea of John and says “we will sell to everyone who reserves in advance and ignore the walk-in demand." If Mr Smith has his way, what will be the hotel's expected revenue? C) John replies, "If you are going to forgo the…
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Buckeye Department Stores, Inc., operates a chain of department stores in Ohio. The company's organization chart appears below. Operating data for 20x1 follow. Buckeye Department Stores Cleveland Division Columbus Divişion Downtown Individual Olentangy Store Scioto Store Store Stores BUCKEYE DEPARTMENT STORES, INC. Operating Data for 20x1 (in thousands) Columbus Division Scioto Store $2,500 Olentangy Store $5,000 Downtown Store $12,000 Cleveland Division (all stores) $ 22,000 Sales revenue Variable expenses: Cost of merchandise sold Sales personnel-salaries Sales commissions Utilities Other Fixed expenses: Depreciation-buildings Depreciation-furnishings Computing and billing Warehouse Insurance Property taxes 3,000 500 60 80 70 2,100 310 50 70 35 6,000 760 90 160 13,000 1,700 220 320 270 130 130 90 90 50 30 70 25 20 260 150 480 310 180 460 220 190 40 80 40 75 210 90 35 80 MacBook Pro %23 % 4 & * 5 6. 7 8. Y D F K C V L.

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