Estimate a range for the optimal objective value for the following LPs:*(a) Minimize z = 5x₁ + 2x₂subject to(b) Maximize zsubject tox₁ + 5x₂ + 3x3X₁X₂ ≥ 32x₁ + 3x₂ = 5X1, X₂ ≥ 0x₁ + 2x₂ + x3 = 302x₁ - x₂= 40X1, X2, X3 ≥ 0

Objective Functions and Constraints: Based on the given details, the objective…

Answered: Estimate a range for the optimal…

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...

See similar textbooks

Similar questions

Calculate the mass product of inertia (Ixy, Ixz, Iyz) in the following figure and prove that it is zero when symmetric in each plane. The center of mass is located at the origin of the coordinate axis and is a cuboid symmetrical in all planes. Cyl b ཅེ kz7 h (x)
Angel owns a Merchandising business that sells imported mugs from the asian countries. Angel purchases these mugs from an outside supplier, once every quarter. She needs to estimate the total quantities to be purchased in order to properly meet product demands for each quarter, without having to incur stock outs and loss of customers. Angel has forecasted that unit sales for each quarter will be as follows:1st quarter: 150002nd Quarter: 250003rd quarter: 350004th quarter: 40000Angel has initiated a policy that 10% of the anticipated sales for the following month must be kept minimum balance of the previous month's inventory. As the beginning of the 1st quarter, there are 15,000 mugs unsold and Angel plans to keep 18,000 mugs by the end of the fourth quarter. Each mug costs ₱75.00.a. Prepare a purchases budget expressed in quantities to be purchased.b. Prepare a purchases budget expressed in peso value.
Lefola Limited is the only manufacturer of product G_Easy in the Popa Land. It has provided documented levels of demand at certain selling prices for product G_Easy which are as follows:Price per unit 7 0006 000Demand Units 01Total costs 3 0005 000875 000 2 4 000 3 3 000 4 2 000 5 1 000 68 000 12 000 17 000 23 000 30 000Required:MGA40AT/POF117V – 2020 Instructional Teaching manual packUsing a tabular approach, calculate the marginal revenues and marginal costs for product G_Easy at the different levels of demand, and so determine the selling price at which Lefola Limited’s profits are maximized.
Graph the feasible region for the system of inequalities. 4x+y≤3 x-y>3
Demand is forecasted using the following regression equation: D = 100 + 15(t) where “t” is a specified future time period. The current time period is 0 (t=0). The machines used to make this product have a capacity of 50 units/time period. The company currently has 4 machines yielding a total capacity of 200 units/time period. Due to technology changes, the current equipment will become obsolete at the end of period 15. If a new machine costs $2000, and the net revenue earned per unit is $10, how many machines should be added between today (t=0) and the end of period 15?
Sensitivity analysis in linear programming is used to: a) Determine the effect of changes in the coefficients of the objective function b) Determine the effect of changes in the right-hand side of constraints c) Both a and b d) Neither a nor b
i will 10 upvotes.
A cement mix company is renowned for providing high strength concrete additives - at high unit cost. It delivers two types of cement additives - Tuf and Rok. In making these additives the company adds two special products, Qikcem and Plascem. These additives contain two (2) basic ingredients: Lime and Flyash, in different proportions, as shown in the table below. Flyash [%] Lime Cost Special Products Qikcem (1) Plascem (2) Availability [kg/hr] 2600 3600 [%] [S/kg] 10 15 45 55 35 65 The cement additive, Tuf should not contain more than 70% of Lime and the cement additive, Rok must contain at least 45% of Flyash. The company can sell at most 800oerkg of its additive products (Tuf and Rok) per hour. There are other limitations and local requirements, as stated beklew: a) Due to the plant installed capacity and personnel requirements, no more than 6000 kg/hour of Tuf can be produced b) The plant has contracted to deliver at least 3500 kg/hour of Tuf c) The company is restricted, by local…
Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = B0 + B1 Population + B2 Income + E, where Sales is the sales of Strong Bones (in $1,000,000s), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 32 cities across the United States and obtains the following regression results: Coefficients Standard Error t Stat p-Value Intercept Population Income 10.01 3.93 2.55 0.0231 8.19 2.20 3.72 0.0338 7.24 6.40 1.13 0.3758 a. What is the sample regression equation? Note: Enter your answers in millions rounded to 2 decimal places. Sales = Population + Income b-1. Interpret the coefficient of population. As the number of women over the age of 60 increases by 1 million, sales of Strong Bones is predicted to…
2 Vidhya Balan is planning to liquidate her investments inmutual funds and invest in real estate. Before makingthe change to her investment strategy, Vidhya wants toforecast the price of mutual funds for the next 2 months.She has collected the following data on the average fundprices for the past 10 months.Month Average Fund Price1 55.12 53.83 53.44 52.955 52.156 52.757 52.658 51.59 52.2510 51.7a Using a five-period moving average, forecast theaverage fund price for Period 11.b. Using exponential smoothing with α = 0.3 forecastthe average fund price for Period 11. Assume an initialforecast for Month 2 (F2) as 55.10
2 Vidhya Balan is planning to liquidate her investments in mutual funds and invest in real estate. Before making the change to her investment strategy, Vidhya wants to forecast the price of mutual funds for the next 2 months. She has collected the following data on the average fund prices for the past 10 months. Average Month Fund Price 1. 55.1 53.8 3 53.4 4 52.95 5 52.15 6. 52.75 7 52.65 8 51.5 9. 52.25 10 51.7 Using a five-period moving average, forecast the a average fund price for Period 11. b. |Using exponential smoothing with a = 0.3 forecast the average fund price for Period 11. Assume an initial forecast for Month 2 (F2) as 55.10
1. Write a linear program for the problem. 2. What is the optimal production mix among different coffee varieties and the profit associated with it? 3. What should be the per bag profit of Tarrazu which will make it beneficial to produce this variety? 4. One Cup is considering increasing the weekly bags to 150. If it costs One Cup $3.00 per bag to procure beans of any variety. Conduct sensitivity analysis and determine if One Cup should consider increasing the per week production. 5. Identify the range over which per bag profit of Sumatra and Kona may vary and still retain the current production plan as optimal for One Cup. 6. Once roasted the coffee beans must be preserved properly. To ensure that, One Cup Coffee is considering investing in a vacuum packaging machine for 24 hours/ week. It takes 10, 15 and 10 minutes to pack a bag of Sumatra, Kona and Tarazzu respectively. Identify if the current production plan will suit the installation of the new packaging scheme.

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS

Estimate a range for the optimal objective value for the following LPs: (a) Minimize z = 5x₁ + 2x₂ subject to (b) Maximize z = x₁ + 5x₂ + 3x3 subject to x₁ - x₂ = 3 2x₁ + 3x₂ = 5 X1, X₂ = 0 x₁ + 2x₂ + x3 = 30 2x₁ - x₂ = 40 X1, X₂, X3 ≥ 0