Answered: TRUE OR FALSE The simplex method is a…

Business

Operations Management

TRUE OR FALSE The simplex method is a linear programming procedure designed to handle only three variables

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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Forrester and Cohen is a small accounting firm, managed by Joseph Cohen since the retirement in December of his partner Brad Forrester. Cohen and his 3 CPAS together bill 640 hours per month. When Cohen or another accountant bills more than 160 hours per month, he or she gets an additional "overtime" pay of $63.80 for each of the extra hours: this is above and beyond the $5,100 salary each draws during the month. (Cohen draws the same base pay as his employees.) Cohen strongly discourages any CPA from working (billing) more than 245 hours in any given month. The demand for billable hours for the firm over the next 6 months is estimated below: Month Estimate of Billable Hours Jan. 600 Feb. 500 Mar. 1,020 Apr. 1,210 May 660 June 590 Cohen has an agreement with Forrester, his former partner, to help out during the busy tax season, up to 245 hours in any given month if needed, for an hourly fee of $135. Cohen will not even consider laying off one of his colleagues in the case of a slow…
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2. A firm makes two products X and Y and has a total production capacity of 9 tons per day.X and Y requiring the same production capacity. The same has a permanent contract to supply at least two tons of X and at least 3 tons of Y per day to another company. Each ton of X requires 20 machine hours of production time and each ton of Y requires 50 machine hours of production time. The daily maximum possible number of machine hours is 360. The entire firm's output can be sold and profit made is 80 R.O of X and 120 R.O per ton of Y. It is required to determine the production schedule for maximum profit and to calculate this profit. Formulate a LPP.
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A trust officer at the Blacksburg National Bank needs to determine how to invest $150,000 in the following collection of bonds to maximize the annual return. Bond Annual Return Maturity Risk Tax Free A 9.5% Long High Yes B 8.0% Short Low Yes C 9.0% Long Low No D 9.0% Long High Yes E 9.0% Short High No The officer wants to invest at least 40% of the money in short-term issues and no more than 20% in high-risk issues. At least 25% of the funds should go in tax-free investments, and at least 45% of the total annual return should be tax free. Formulate the LP model for this problem. Create the spreadsheet model and use Solver to solve the problem. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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