Under what circumstances does it make sense to choose an objective function that minimizes the maximum distance between a facility and its customers? Give an example.
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- Under what circumstances does it make sense to choose an objective function that minimizes the maximum distance between a facility and its customers? Give an example.
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- A company manufactures a product at its plants in A, B, and C, then ships the product to six customers in G, H, J, K, and L. The monthly capacity of plants A, B, and Care 7300, 7400, and 7500 units, respectively. The monthly demand from customers G, H, J, K, and Lare. 1200, 8900, 7600, 2600, and 1500 units, respectively. Use Excel Solver to find the optimal distribution plant that will give the lowest total monthly shipping cost if the shipping cost per unit (in dollars per unit) are as follows: from A to G, H, J, K, and L are 4, 9, 20, 6, and 13 dollars per unit, respectively; from B to G, H, J, K, and Lare 7, 6, 12, 2, and 9 dollars per unit, respectively; from C to G, H, J, K, and Lare 12, 7, 3, 17, and 6 dollars per unit, respectively. The optimal total shipping costs is dollars per monthChris Suit is administrator for Lowell Hospital. She is trying to determine whether to build a large wing on the existing hospital, a small wing, or no wing at all. If the population of Lowell continues to grow, a large wing could return $150,000 to the hospital each year. If a small wing were built, it would return $100,000 to the hospital each year if the population continues to grow. If the population of Lowell remains the same, the hospital would encounter a loss of $85,000 with a large wing and a loss of $45,000 with a small wing. Unfortunately, Suit does not have any information about the future population of Lowell. a. Assuming that each state of nature has the same likelihood, determine the best alternative. [Select ] what is the EMV? [Select] b. If the likelihood of growth is .4 and that of remaining the same is .6 and the decision criterion is expected monetary value, which decision should Suit make? [Select] what is the EMV? [Select]On a certain route, an airline carries 8000 passengers per month, each paying $50. A market survey indicates that for each $1 increase in the ticket price, the airline will lose 100 passengers. Find the ticket price that will maximize the airline’s monthly revenue for the route. What is the maximum monthly revenue?
- A consumer product company makes two types of dishwasher detergents: regular and concentrate. The company has two manufacturing facilities for making detergent products. The first facility has an operating cost of $120 an hour and can produce 300 ounces of regular detergent products per hour and 220 ounces of concentrate detergent per hour. The second facility has an hourly operating cost of $220 and produces 350 ounces of regular detergent and 450 ounces of concentrate detergent per hour. The company received wholesale orders totalling 4.500 ounces of regular detergent and 5.200 ounces of concentrate detergent. a. Formulate and solve the LP model that minimizes costs given the constraints. How many hours should the company operate each facility in order to fulfill the orders and minimize the operating cost? Note: Round your answers to 2 decimal places. The number of hours the company should operate the first facility The number of hours the company should operate the second facility…ChocoTown has a 4,000 square foot outlet store that serves five major customer regions, denoted A, B, C, D and E. The locations of the points representing the customer regions and their weekly demands are shown in the table below. The ChocoTown outlet store is at location (10,20). Customer Region Location Demand ($/week) A (0,10) 4,000 B (0,20) 2,000 C (20,0) 4,000 D (30,20) 3,000 E (40,10) 2,000 CandyTime is a new competitor of ChocoTown and they are considering opening a 4,000 square foot store at location (30,10). Assume the travel time from location i to j in minutes equals the straight line distance from i to j. a) Use the spatial interaction model to estimate the demand that would be captured by the new CandyTime store. Demand captured by CandyTime = ___________ b) Suppose the CandyTime store is located at (30,10), but it is not 4,000 square feet. Use the spatial interaction model to find the size in square feet for…Even though independent gasoline stations have been having a difficult time, lan Langella has been thinking about starting his own independent gasoline station. lan's problem is to decide how large his station should be. The annual returns will depend on both the size of his station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, lan developed the following table: States of Nature Size of First Station Good Market Fair Market Poor Market $40,000 $90,000 $18,000 $27,000 - $8,000 - $22,000 Small Medium $105,000 $27,500 Large Very Large - $36,000 - $180,000 $320,000 $26,000 For example, if lan constructs a small station and the market is good, he will realize a profit of $40,000. This exercise contains only parts b, c, and d. b) Using the decision making under uncertainty with the criterion of Maximax The appropriate decision will be
- A fertilizer manufacturer has to fulfill supply contracts to its two main customers (650 tons to Customer A and 800 tons to Customer B). It can meet this demand by shipping existing inventory from any of its three warehouses. Warehouse 1 has 400 tons of inventory onhand, Warehouse 2 (W2) has 500 tons, and Warehouse 3 (W3) has 600 tons. The company would like to arrange the shipping for the lowest cost possible, where the per-ton transit costs are as follows: W 1 W 2 W 3 $7.50 $6.75 $6.25 $7.00 $6.50 $8.00 Customer A Customer B Write the objective function and the constraint in equations. Let V;= tons shipped to customer i from warehouse j, and so on. For example, VA1 = tons shipped to customer A from warehouse W1. This exercise contains only parts b, c, d, e, and f. b) The objective function for the LP model = Minimize Z = $7.50 + $6.25 + $6.50 (shipping cost to customer A) V + $6.75 + $7.00 + $8.00 (shipping cost to customer B) c) Subject to: Customer A's demand Customer B's demand…Your fast-food outlet, Burger Queen, has obtained a license to open branches in three closely situated South African cities: Brakpan, Nigel, and Springs. Your market surveys show that Brakpan and Nigel each provide a potential market of 2,500 burgers a day, while Springs provides a potential market of 1,000 burgers per day. Your company can only finance an outlet in one of those cities at the present time. Your main competitor, Burger Princess, has also obtained licenses for these cities, and is similarly planning to open only one outlet. If you both happen to locate at the same city, you will share the total business from all three cities equally, but if you locate in different cities, you will each get all the business in the cities in which you have located, plus half the business in the third city. The payoff is the number of burgers you will sell per day minus the number of burgers your competitor will sell per day. Set up the payoff matrix. O a. Your Competitor B N S Вг 1,5001…NTS is a Swiss intermodal operator located in Lausanne. When customers need to transport goods between origin and destination, NTS supplies them with one or more empty containers in which the goods can be loaded.Upon arrival at the destination, the goods are unloaded, and the empty containers must be transported to the pickup point for new customers. Therefore, NTS management needs to reallocate empty containers periodically (every week). The company's focus is on the transportation activity of empty containers, which is very expensive (almost 35% of the total operational costs). In May 2023, several empty containers, totaling 20 containers, need to be reallocated among terminals in Amsterdam, Berlin, Munich, Paris, Milan, Barcelona, and Madrid. The available or requested number of empty containers at various terminals is reported, along with the transportation costs (in euros per container) as seen in Figure 1. Determine how to solve the problem with the goal of minimizing…
- NTS is a Swiss intermodal operator located in Lausanne. When customers need to transport goods between origin and destination, NTS supplies them with one or more empty containers in which the goods can be loaded. Upon arrival at the destination, the goods are unloaded, and the empty containers must be transported to the pickup point for new customers. Therefore, NTS management needs to reallocate empty containers periodically (every week). The company's focus is on the transportation activity of empty containers, which is very expensive (almost 35% of the total operational costs). In May 2023, several empty containers, totaling 20 containers, need to be reallocated among terminals in Amsterdam, Berlin, Munich, Paris, Milan, Barcelona, and Madrid. The available or requested number of empty containers at various terminals is reported, along with the transportation costs (in euros per container) as seen in Figure 1.Determine how to solve the problem with the goal of minimizing…The metes and bounds system primarily relies on which of the following to describe land? section, lot, and block numbers within a subdivision a readily identifiable point of beginning and the boundaries of a property in terms of distances and compass directions checks, correction lines, and tiers meridians, base lines, townships, and rangesA certain city the Transportation Authority (CTA) has trollies leaving regularly throughout the day beginning at 5:00 a.m. Although the length of a trip and the number of stops are constant, the time taken for each trip varies due to weather, traffiffiffic, and time of the day. According to the CTA, the mean time taken for the trip is 50 minutes. Suppose the travel time is Normally distributed with standard deviation σ = 4 minutes. A random sample of 25 trips is obtained, and the time for each is recorded. Find the probability that the sample mean time will be less than 48 minutes.
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