Malloy Milling grinds calcined alumina to a standard granular size. The mill produces two different size prodregular grind and super grind, from the same raw materials. After reviewing the production rate, demand, and profitfor each of the two types of grind, Malloy Milling found the following linear optimization model for profit, where R is thenumber of tons of regular grind produced and S is the number of tons of super grind produced. Implement the linearoptimization model on a spreadsheet and use Solver to find an optimal solution. Interpret the Solver Answer Report,identify the binding constraints, and verify the values of the slack variables.Maximize Profit = 900 R+ 1600 SR+S2700maximumRS5+3 5168R≥400S≥ 200Implement the linear optimization model and find an optimal solution. Interpret the optimal solution.The optimal solution is to produce tons of regular grind and tons of super grind. This solution gives thepossible profit, which is $mals rounded to two decimal places as needed.)minimum(Total production)(Time limitation)(Demand for regular grind)(Demand for super grind)2

A linear optimization model helps an organization in finding the values of the decision variables…

Answered: Malloy Milling grinds calcined alumina…

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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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?
Ali Jones produces two types of cowboy hats. A type 1 hat requires twice as much labor time as type 2. If all the available labor time is dedicated to type 2 alone, the company can produce a total of 400 type 2 hats a day. The respective market limits for the two types are 150 and 200 hats per day. The revenue is P8 per type 1 hat and P5 per type 2 hat. a. Formulate an LP model and use the graphical solution to determine the number of hats of each type that maximizes revenue b. Determine the dual price of the production capacity (in terms of the type 2 hat) and the range for which it is applicable c. If the daily demand limit on type 1 hat is decreased to 120, use the dual price to determine the corresponding effect on the optimal revenue d. What is the dual price of the market share of the type 2 hat? By how much can the market share be increased while yielding the computed worth per unit?
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?
Overhead Costs Billable Hours 395000 2000 440000 3000 460000 4000 513000 5000 580000 6000 605000 7000 Develop a simple linear regression model between billable hours and overhead costs. Overhead Costsequals=enter your response hereplus+left parenthesis nothing right parenthesisenter your response heretimes×Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.)
help please
The Sunrise Raisin Company makes three different products from raisins: natural raisins (Natural), lightly coated yogurt raisins (Light), and heavily coated yogurt raisins (Heavy). The company is barely able to keep up with the increasing demand for these products. However, increasing raw material prices and market competition are forcing the company to watch its margins to ensure it is operating in the most efficient manner possible. To meet marketing demands for the coming week, the company needs to produce no more than 500 pounds of the Natural product, between 50 and 600 pounds of the Light product, and no more than 400 pounds of the Heavy product. Each pound of the Natural, Light, and Heavy product contains, respectively, 100%, 80%, and 50% raisins with the remaining weight made up of yogurt coating. The company has 825 pounds of raisins and 420 pounds of yogurt available for use in the next week. The various products are made by using three different machines that coat the…
Please help me. Thankyou.
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.
Determining Margin Potential Finding the maximum amount of profit you can generate from one unit of a product is called Margin Potential. This is useful for a company when making a decision about whether to go into production or not. In its simplest form, you can calculate Margin Potential as: Margin Potential = Maximum Price - Minimum Unit Costs Price Use the information table below to find the maximum price that customers deem acceptable. You can find this in the Customer Buying Criteria for each segment. Minimum Material Cost Calculate the minimum Material Cost per segment using the following equation and table below: Minimum Material Cost = [(Lowest Acceptable MTBF * 0.30) / 1000] + Trailing Edge Material Cost Minimum Labor Cost Calculate the minimum Labor Cost for each segment. Assume a base labor cost of $11.20 ($11.20 is a rough estimate of labor cost used solely to illustrate the Margin Potential Concept). Minimum Labor Cost = [$11.20 - (1.12 * Automation Ratings Below)] + 1.12…

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