Leary Chemical manufactures three chemicals: A, B, and C. These chemicals are produced via two productionprocesses: 1 and 2. Running process 1 for an hour costs $4 and yields 3 units of A, 1 of B, and 1 of C. Runningprocess 2 for an hour costs $1 and produces 1 unit of A and 1 of B. To meet customer demands, at least 10units of A, 5 of B, and 3 of C must be produced daily. All values are summarised in the table below.Processx1 = Process 1x2 - Process 2x123Ox1+x225Ox1+x223O4x1+x2² 103x1+x22 10Cost per hourOx22341OutputA31Daily requirements 10 5 3Besides the non-negativity constraints which are the rest of the constraints?B C1110

Linear programming helps us to find the optimal solution/best outcome, given the constraints.We…

Answered: Leary Chemical manufactures 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 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.
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standard mix of Peanut/Raisin Delite to put up. The deluxe mix has .68 pounds of raisins and .32 pounds of peanuts, and the standard mix has 0.5 pounds of raisins and 0.5 pounds of peanuts per bag. The shop has 80 pounds of raisins and 50 pounds of peanuts to work with. Peanuts cost $0.75 per pound and raisins cost $1.5 per pound. The deluxe mix will sell for $2.9 for a one-pound bag, and the standard mix will sell for $2.55 for a one-pound bag. The owner estimates that no more than 110 bags of one type can be sold. a. If the goal is to maximize profits, how many bags of each type should be prepared? (Round your answers down to a whole number.) Deluxe Standard b. What is the expected profit? (Round your answer to two decimal places.) Expected profit
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
QMB Apparel, Inc is a local clothing company that produces two types of shirt: Polo Shirts (P) & Dress Shirts (D). The profit contributions for each shirt and the associated production restrictions (in number of minutes available) are listed below: Polo Shirts (P) Dress Shirts (D) $25 $30 Profit per Unit Cutting Sewing Inspection Polo Shirts (P) Dress Shirts (D) Number of Minutes Available 40 50 1,200 40 1,100 20 1,050 60 70 Using the information in the tables above, what is the optimal amount of Polo Shirts (P) and Dress Shirts (D) that QMB Apparel should produce to maximize it's profits? 40 Polo Shirts (P) & 10 Dress Shirts (D) 5 Polo Shirts (P) & 20 Dress Shirts (D) 30 Polo Shirts (P) & 0 Dress Shirts (D) O0 Polo Shirts (P) & 48 Dress Shirts (D) 010 Polo Shirts (P) & 40 Dress Shirts (D)
Mack's guitar fabrication shop produces low cost, highly durable guitars for beginners. Typically, out of the 100 guitars that begin production each month, only 82 percent are considered good enough to sell. The other 18 percent are scrapped due to quality problems that are identified after they have completed the production process. Each guitar sells for $240. Because some of the production process is automated, each guitar only requires 10 labor hours. Each employee works an average of 160 hours per month. Labor is paid at $10 per hour, materials cost is $40 per guitar, and overhead is $3,800. Part 2 a. The labor productivity ratio for Mack's guitar fabrication shop is
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…
Two firms, A and B, each currently dump 168 tons of chemicals into the local river. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. The government gives each firm 90 pollution permits. The abatement costs of one ton of pulltion is $122 for Firm A and $147 for Firm B. What would be the total cost of reducing pollution, if the government does NOT allow the firm to trade the permits between each other?
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The ore of a gold mine in the province contains, on average, 0,5 ounce of gold per ton Method A of processing costs 150Photon and recovers 93% of the gold, while Method B costs only 120Php/ton and recovers 81% of the gold. If gold can be sold at 1,200/ounce, which method is better and by how much?
4. Explain how the logit model overcomes the problems associated with the Linera Probability Model in binary dependent variaraile model.

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