Valencia Products makes automobile radar detectors and assembles two models: LaserStop and SpeedBuster. Both models use the same electronic components. After reviewing the componentsrequired 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 SpeedBustermodels 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 thevalues of the slack variables.Maximize Profit=125 L + 137 S17 L 13 Ss30006L+8 S≤2500L20 and $20.(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 SpeedBuster models. This solution gives the(Type integers or decimals rounded to two decimal places as needed.)possible profit, which is $

Max Z =125L+137SSubject to constraints:17L+13S <= 3000 ......Availability of component A6L+8S…

Answered: Valencia Products makes automobile…

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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A company has 30,000 employees in three cities as shown in the table below. It wishes to give promotions to 200 employees. Cities A B C Total Original Number of Employees 9140 6070 14,790 30,000 a) Apportion the promotions using Hamilton's method. b) Suppose that in 10 years the cities have the following number of employees and the company wishes to again give promotions to 200 employees. Does the population paradox occur using Hamilton's method? Cities A B C Total Number of Employees 10 years later 9190 6070 14,890 30,150 a) Complete the table with Hamilton's apportionment for the original number of employees. Cities A B C Total Original Number of Employees 9140 6070 14,790 30,000 Hamilton's Apportionment ? ? ? 200
For your next 10k race of the athletics season, you consider competing in either Sheffield, Cardiff, or Birmingham. After considering results from past years and the three different routes, you estimate your prize money, which will also depend on your form on the day. These estimated prizes are shown in the following table: Good form Average form Bad form 0 Sheffield 1000 Cardiff 700 Birmingham 800 400 500 600 200 100 Which condition must a satisfy such that Birmingham is the optimal city to go compete, according to the optimism-pessimism rule?
Cox Electric makes electronic components and has estimated the following for a new design of one of its products: Fixed Cost = $7,000 Material cost per unit = $0.15 Labor cost per unit = $0.10 Revenue per unit = $0.65 Production Volume = 12,000 Per-unit material and labor cost together make up the variable cost per unit. Assuming that Cox Electric sells all it produces, build a spreadsheet model that calculates the profit by subtracting the fixed cost and total variable cost from total revenue, and answer the following questions. (a) Construct a one-way data table with production volume as the column input and profit as the output. Breakeven occurs when profit goes from a negative to a positive value; that is, breakeven is when total revenue = total cost, yielding a profit of zero. Vary production volume from 5,000 to 50,000 in increments of 5,000. In which interval of production volume does breakeven occur? to units (b) Use Goal Seek to find the exact breakeven point.…
The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature. Decision Alternative d₁ d₂ = EV(d₁) EV(d₂) The optimal decision is ? States of Nature $1 $2 230 80 $3 80 5 Suppose that the decision maker obtained the probabilities P(S₁) = 0.65, P(S₂) = 0.15, and P(S3) = 0.20. Use the expected value approach to determine the optimal decision. 80 55
Valencia products makes automobile radar detectors and assembles two models. Laser stop 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 19 L + 11 S < 4,000 (availability of component A) 6 L + 9 S < 35000 (availability of component B) L > 0 and S > 0 The optimal solution is to produce how many Laser stop models ? And how many Speedbuster models ? The maximum possible profit is ? Component A is or is not a binding…
Two home improvement stores (Great Home and Super Home) in a growing urban area are interested in expanding their market share. Both are interested in expanding the size of their store. and parking lot to accommodate potential growth in their customer base. Two possible actions for both the firms are increase the size of the store and parking lot' and 'do not increase the size of the store and parking lot. Payoffs are defined in terms increase in annual profits in $million. The Following table describes the payoffs for both the firms to alternative actions taken by each of them.. a) Lets say, each store is pursuing its own best interest. What will be a rational (or dominant) strategy for Super Home to follow? Explain in 3-4 sentences. What will be a rational (or dominant) strategy for Great Home to Follow? b) [What will be the annual profit growth for each store, if they both follow their dominant strategy? What is a Nash equilibrium here and why? Find out the Nash equilibrium using…
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 = 123L+139S 17 L+11 S≤5000 (Availability of component A) 5L+9S≤4500 (Availability of component B) L≥0 and S≥0 Implement the linear optimization model and find an optimal solution. Interpret the optimal solution. The optimal solution is to produce _ LaserStop models and _ SpeedBuster models. This…
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…
Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = B0 + B1 Population + B2 Income + E, where Sales is the sales of Strong Bones (in $1,000,000s), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 32 cities across the United States and obtains the following regression results: Coefficients Standard Error t Stat p-Value Intercept Population Income 10.01 3.93 2.55 0.0231 8.19 2.20 3.72 0.0338 7.24 6.40 1.13 0.3758 a. What is the sample regression equation? Note: Enter your answers in millions rounded to 2 decimal places. Sales = Population + Income b-1. Interpret the coefficient of population. As the number of women over the age of 60 increases by 1 million, sales of Strong Bones is predicted to…
What is a "corner point"? Explain why solutions to linear programming problems focus on cornerp points.
Exercise A business student has $2,500 available from a summer job and has identified three potential stocks in which to invest. The cost per share and expected return over the next two years are given in the table below. a. Identify the decision variables, the objective, and the constraints in simple verbal statements. b. Develop a linear optimization model to determine the optimal investment strategy. Solve this LP problem using Excel Solver and state your recommendation. C. Stock Price/Share Return/Share A $12 $8 B $15 $7 C $30 $11

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