PowerO ExponentialLogarithmicO PolynomialQUESTION 9If you try different startinng values for the changing cells and obtain different solutions:you can be confident there is no solutionyou can keep the best solution you have found and hope that it is indeed optimalO there must be a mistake in your objective functionO there must be a mistake in one of your constraintsQUESTION 10In pricing models (i.e., Example 7.1), elasticity of demand is an input with specifies the:sensitivity of price to changes in demandO sensitivity of demand to changes in pricerange of demandlovol

Critical success factors are a management term which states the factors that are important for…

QUESTION 9 If you try different starting values for the changing cells and obtain different solutions: you can be confident there is no solution Oyou can keep the best solution you have found and hope that it is indeed optimal there must be a mistake in your objective function O there must be a mistake in one of your constraints

QUESTION 9 If you try different starting values for the changing cells and obtain different solutions: you can be confident there is no solution Oyou can keep the best solution you have found and hope that it is indeed optimal there must be a mistake in your objective function O there must be a mistake in one of your constraints

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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11. Martha's utility function is U(x, y) = min {x + 2y, 2x + y). George's utility function is U(x, y) = min{2x + 4y, 4x + 2y}. If George and Martha have the same income and face the same prices for the goods x and y, a. George and Martha will both demand the same amount of y. b. c. Martha will always prefer George's consumption bundle to her own. George will always prefer Martha's consumption bundle to his own. George will demand more x than Martha demands. d. e. None of the above.
a.) in table 1, the transportation cost is?b.) in the evaluation of occupied cells in table 1, the value of W2 is?c.) in yhe evaluation of vacant/unoccupied cells in table 1, the highest negative index is?d.) in table 2, the tiles manufactured by PlantB will be supplied to distributor?e.) the transportation cost in table 2 is?f.) in the evaluation of occupied cells in table 2, the value of V2 is?g.) in the evaluation of occupied cells in table 2, the value of W3 is?h.) in the evaluation of unoccupied/vacant cells in table 2, the highest negative index is?i.) the optimal solution is found in table? **Note: find for the tables**
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A manager is simulating the number of times a machine operator stops a machine to make adjustments. After careful study the manager found that the number of stops ranged from one to five per cycle and that each number of stops was equally likely. Using the random numbers 0.17 and 0.47 (in that order), determine how many stops for adjustments each of the next two cycles will have. The first cycle will have stops and the second cycle will have stops.
Please do not give solution in image format thanku Tech Football Strategy: Tech is playing State in the last conference game of the season. Tech is trailing State 21 to 14, with 7 seconds left in the game, when Tech scores a touchdown. Still trailing 21 to 20, Tech can either go for 2 points and win or go for 1 point to send the game into overtime. The conference championship will be determined by the outcome of this game. If Tech wins, it will go to the Sugar Bowl, with a payoff of $7.2 million; if it loses, it will go to the Gator Bowl, with a payoff of $1.7 million. If Tech goes for 2 points, there is a 33% chance it will be successful and win. If it goes for 1 point, there is a 0.98 probability of success and a tie and a 0.02 probability of failure. If the teams tie, they will play overtime, during which Tech believes it has only a 20% chance of winning because of fatigue. Use decision tree analysis to determine whether Tech should go for 1 or 2 points. Joanna came up with the…
Suppose that you have two four-sided dice that are each equally weighted (i.e. equal chance of any of the four sides landing face up). One of them has values [12.5968, 2, -2 and -12.5968] , the other [12.5968, 4, -2 and -12.5968] Which of them has a σ of 9 using the probability model approach. a) [12.5968, 2, -2 and -12.5968] B) [12.5968, 4, -2 and -12.5968]
The idea that managers make decisions with incomplete information is an example of which term below? Question 33 options: satisficing bounded rationality decision criteria Management by Objectives
55. The mail order firm of L. L. Pea receives an averageof 200 calls per hour, where times between calls areexponentially distributed. It takes an L. L. Pea operatoran average of three minutes to handle a call. If a callergets a busy signal, L. L. Pea assumes that he or she willcall a competing mail-order company, and L. L. Pea willlose an average of $30 in profit. The cost of keeping aphone line open is $9 per hour. How many operatorsshould L. L. Pea have on duty? Use simulation to answerthis question. Does the answer depend on whether theservice times are exponentially distributed?
Are my formulas correct and did I get the correct answer? Question: Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 220,000 pounds of grade 6 oranges and 150,000 pounds of grade 9 oranges on hand. The aver- age quality of oranges sold in bags must be at least 7, and the average quality of the oranges used to produce orange juice must be at least 8. Each pound of oranges that is used for juice yields a revenue of $2.25 and in- curs a variable cost (consisting of labor costs, variable overhead costs, inventory costs, and so on) of $1.35. Each pound of oranges sold in bags yields a revenue of $2.00 and incurs a variable cost of $1.20. a. Determine how Sunblessed can maximize its profit.
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1. (First System) A crew of mechanics at the NCDOT repair NCDOT vehicles that break down at an average rate of λ = 4 vehicles per day. The crew can service an average of µ = 5 vehicles per day. The crew cost is $400 per day. A bureaucrat in Raleigh has determined the cost associated with lost productivity due to breakdowns is $300/day. (This includes the entire time the vehicle is unavailable—from the time it breaks down until the time it is back on the road.) 2. (Second System) This same bureaucrat thinks it would be a good idea to have two repair crews instead of one. Vehicles still break down at the same rate of 4/day. Each crew can still service 5 /day. Assume that each crew handles half of the breakdowns. Each crew costs $400/day. The cost associated with the lost productivity of an idle vehicle is still $300/day. Which system do you recommend and why?