you are given the following data for a linear programming problem where theobjective is to minimize the cost of conducting two nonnegativeactivities so as to achievethree benefits that do not fall below their minimum levels.Benefit Contribution perUnit of Each ActivityMinimumAcceptableLevelBenefitActivity 1Activity 2156022303126Unit cost$60$50(a) Formulate a linear programming model for this problem.(b) Use the graphical method to solve this model.I am confused with the sensitivity analysis part:(c) What is the sensitivity range of the unit cost of activity 1? Please calculate the optimalobjective value if we change the unit cost of activity 1to 80. What if we change the unitcost of activity 1 to 90? (Hint: You can use excel or python to solve the problem.)(d) What is the sensitivity range of the minimum acceptable level of benefit 3? Pleasecalculate the optimal objective value if change theminimum acceptable level of benefit 3 to 130. What if we change the minimum acceptable level of benefit 3 to 110?(e) What is the sensitivity range of the unit cost of activity 2?Suppose we change the unitcost of the two activities to 90for activity 1 and 80for activity 2. Are the new unit costs in the sensitivity range?Does the optimal solution change? Is the sensitivity rangeapplicable when multiple parameters change?

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Answered: you are given the following data for a…

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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Ali works as an Uber driver in the gig economy spending most of his days driving others around the city. He loves the freedom his gig offers him. This most likely means that Multiple Choice Ali has been offshored. this reflects indefinite employment. this may be his only source of income. he also has to have another, full-time job.
Hudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option (in thousands of dollars) depends on demand as follows: Demand Staffing Options High Medium Low Own staff 600 550 350 Outside vendor 900 650 450 Combination 700 600 400 a. If the demand probabilities are 0.4, 0.25, and 0.35, which decision alternative will minimize the expected cost of the data processing operation? Own Staff What is the expected annual cost associated with that recommendation? If required, round your answer to the nearest thousand of dollars. Expected annual cost = $ ___________
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Donald Harris received a windfall and needs to invest it for tax reasons. He went to his brother-in-law, Joe Harris, who is a financial advisor. Joe prepared a matrix that illustrated the possible returns on investment for different investment strategies under different economic conditions. That matrix is given below. Given these values, what type of investment strategy would be selected by the Maximincriterion? Future Air Traffic Strategies Major Downturn Downturn Upturn Major Upturn Contrarian 20% 10% 5% -15% Risk Averse 2% 4% 7% 10% Growth -10% -8% 13% 20% Aggressive -25% -20% 11% 35% Group of answer choices
eBook 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: Room Type 1 Type II Rental Class Super Saver $37 $18 Explain. Deluxe $40 $33 Variable SuperSaver rentals allocated to room type I SuperSaver rentals allocated to room type II Deluxe rentals allocated to room type I Deluxe rentals allocated to room type II Business rentals allocated to room type II Is the demand by any rental class not satisfied? Business Type 1 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 125 rentals in the Super Saver…
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