Chapter 19, Problem

a)

Summary Introduction

To determine: The marginal value of a pound of pine and the appropriate price range.

Introduction:

Linear programming:

Linear programming is a mathematical modeling method where a linear function is maximized or minimized taking into consideration the various constraints present in the problem. It is useful in making quantitative decisions in business planning.

b)

Summary Introduction

To determine: The maximum price the store would be justified in paying for the additional bark.

c)

Summary Introduction

To determine: The marginal value of labor and the range within which it is feasible.

d)

Summary Introduction

To determine: The additional machine time that can be used in this operation.

e)

Summary Introduction

To determine: The manager’s choice if he can obtain either the additional pine bark or storage space.

f)

Summary Introduction

To determine: The change in decision variables if the profit on chips is changed.

g)

Summary Introduction

To determine: The change in decision variables when the profits is increased to $7 per bag for chips and decreased by $0.60 for nuggets.

h)

Summary Introduction

To determine: The change in decision variables for the different changes made in the composition