The graph below represents a LP problem in which the objective function is "Maximization" and parallel to the constraint 1.Which one of the following answers would best indicate how the best Z can be obtained in the problem below?O Point AⒸintX2constraintAll the points in the segment of line ABO All the points in the segment of line DCO None of the aboveObjective FunctionFeasible Areaconstraint 2constraint 3X₁

Linear Programming is a mathematical modeling technique used to determine the best outcome in a…

Answered: The graph below represents a LP problem…

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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Consider the following linear programming model: maximize Z = 3x1 + 2x2 subject to : x1 +x2 ≤ 1 x1 + x2 ≥ 2 x1,x2 ≥ 0 a) Write this model in a standard (augmented) form. (i.e. Introduce slack/surplus, artificial etc.)b) Constract the initial simplex tableau and carry on your calculations to solve this model using the simplex method. Interpret your result.
For the remaining questions, consider the following problem description: An oil company is considering exploring new well sites S₁, S2, ..., S10 with respective costs C1, C2, C10. And in particular they want to find the least-cost selection of 5 out of the 10 possible sites. The binary decision variables x₁,x2,..., X10 denote the decision to explore the corresponding site.
Problem 8-21 (Algorithmic) Round Tree Manor is a hotel that provides two types of rooms with three rental classes: Super Saver, Deluxe, and Business. The profit per night for each type of room and rental class is as follows: Rental Class Room Super Saver Deluxe Business Type I $30 $35 — Type II $20 $30 $40 Type I rooms do not have wireless Internet access and are not available for the Business rental class. Round Tree's management makes a forecast of the demand by rental class for each night in the future. A linear programming model developed to maximize profit is used to determine how many reservations to accept for each rental class. The demand forecast for a particular night is 130 rentals in the Super Saver class, 60 rentals in the Deluxe class, and 50 rentals in the Business class. Round Tree has 100 Type I rooms and 120 Type II rooms. Use linear programming to determine how many reservations to accept in each rental class and how the reservations should be…
Problem 2: Applications of Linear Programming: Visa Inc. Stock sells for $92 a share and has 3-year average annual return of $20 a share. The beta value is 1.06. JP Morgan Chase and Co. sells for $87 a share and has a 3-year average annual return of $17 a share. The beta value is 1.21. Derek wants to spend no more than $15,000 investing in these two stocks, but he wants to earn at least $2500 in annual revenue. Derek also wants to minimize the risk. Determine the number of shares of each stock that Derek should buy.
Calculating outcomes as equally likely would BEST describe: O a. Maximax criterion O b. Laplace criterion O c. Regret criterion Od. Maximin criterion Determining the average payoff for each alternative and choosing the one with the BEST payoff is the approach called: ea, maximax O b. minimax regret O c. laplace Od maximin M
A 36,000 square foot office building in Emeryville, California that was 88% leased had a 2023 annual net operating income estimated to be $1,880,000 with gross leases for all its tenants and a three level subterranean parking garage with 180 parking spaces. The 2024 NOI could be increased by all the following, EXCEPT: Increasing the operating expenses by adding additional maintenance staff Increasing the parking income by charging tenants for their employee parking Increasing the occupancy rate of the building by signing leases with new tenants Increasing the rental rates in new leases that are signed for the building
Bugs Bunny and Daffy Duck are contestants on a game show called Split or Steal. On the show, Bugs and Daffy have to pick one of two cards and decide to split the prize money of $100,000 or steal it from the other contestant. The decisions are made simultaneously so neither player knows what the other will do. The table below represents the result of the contestants’ choices. See attached What should a rational player do in this game? Is this a zero-sum game?
Valencia Products makes automobile radar detectors and assembles two models: LaserStop and SpeedBuster. Both models use the same electronic components. After reviewing the components required and the profit for each model, the firm found the following linear optimization model for profit, where L is the number of LaserStop models produced and S is the number of SpeedBuster models produced. Implement the linear optimization model on a spreadsheet and use Solver to find an optimal solution. Interpret the optimal solution, identify the binding constraints, and verify the values of the slack variables. Maximize Profit = 123 L+ 139 S 18 L 11 S≤ 3000 5 L+9 S≤2500 L≥ 0 and S≥ 0 (Availability of component A) (Availability of component B) Implement the linear optimization model and find an optimal solution. Interpret the optimal solution. The optimal solution is to produce LaserStop models and possible profit, SpeedBuster models. This solution gives the which is $ (Type integers or decimals…
Scenario You are going to plant a rectangular flower bed consisting of tulips in the middle surrounded by daisies on the outside. You have the same amount of each flower and will need an equal area for each. You want the border of daisies to be uniform around the tulips in the middle, as shown in the diagram below:
1. A specific assignment of values to decision variables is called what? a. Constraint b. Feasible c. Solution d. None of the above 2. Which of the following must be true of a feasible solution a. All of what Solver calls changing variables must be greater than 0 b. It is optimal c. It violates no constraints d. None of the above
Using Excel Solve the following LP Maximize $4x + $5y Subject to 2x + 3y ≤ 20 (labor, in hours) 6x + 6y ≤ 36 (materials, in pounds) 4x + 4y ≤ 40 (storage, in square feet) x, y ≥ 0 a) Write the original optimal solution and objective function value. b) What is the optimal solution and objective function value if you acquire 2 additional pounds of material? c) What is the optimal solution and objective function value if you acquire 1.5 additional hours of labor?
Problem 7-41 Southern Oil Company produces two grades of gasoline: regular and premium. The profit contributions are $0.30 per gallon for regular gasoline and $0.50 per gallon for premium gasoline. Each gallon of regular gasoline contains 0.3 gallons of grade A crude oil and each gallon of premium gasoline contains 0.6 gallons of grade A crude oil. For the next production period, Southern has 18,000 gallons of grade A crude oil available. The refinery used to produce the gasolines has a production capacity of 50,000 gallons for the next production period. Southern Oil's distributors have indicated that demand for the premium gasoline for the next production period will be at most 20,000 gallons. a. Formulate linear programming model that can be used to determine the number of gallons of regular gasoline and the number of gallons of premium gasoline that should be produced in order to maximize tota profit contribution. If required, round your answers to two decimal places. L Let R = P =…

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