To formulate: An LP model for the problem.

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Chapter 2, Problem 14QP

a)

Summary Introduction

To formulate: An LP model for the problem.

b)

Summary Introduction

To sketch: The feasible region for the problem.

c)

Summary Introduction

To calculate: The optimal solution.

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Tom is a habitual shopper at garage sales. Last Saturday he stopped at one where there were several types of used building materials for sale. At the low prices being asked, Tom knew that he could resell the items in another town for a substantial gain. Four things stood in his way: he could only make one round trip to resell the goods; his pickup truck bed would hold only 1200 pounds; the pickup truck bed could hold at most 80 cubic feet of merchandise; and he had only $190 cash with him. He wants to load his truck with the mix of materials that will yield the greatest profit when he resells them. Formulate (define objective function and constraints) and solve this problem (using excel solver) as a linear program.

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Clippers Inc. (CI) manufactures two types of garden clippers. A light-duty model, called the “half-inch,”is intended for clipping branches and stems up to one-half inch thick. The “one-inch” model is designedfor heavier stems and branches. To boost sales, CI decided at the beginning of the current year to reducethe price of the half-inch model to better position its price relative to some key competitors. On the otherhand, CI felt that the one-inch model was technically superior to competitors’ models and decided that asmall price increase was appropriate. The data for the current and prior year are as follows:Current Year Prior YearSales units 7,200 6,500Sales mix for each productHalf-inch model 50% 30%One-inch model 50% 70%PriceHalf-inch model $12.00 $14.00One-inch model $36.00 $32.00Variable cost per unitHalf-inch model $6.00 $6.00One-inch model $8.00 $8.00Fixed cost $35,000 $35,000Required1. Prepare a comparative contribution income statement for CI for the current year that shows…

Answer 2

Question

Chapter 2, Problem 14QP

a)

Summary Introduction

To formulate: An LP model for the problem.

b)

Summary Introduction

To sketch: The feasible region for the problem.

c)

Summary Introduction

To calculate: The optimal solution.

Expert Solution & Answer

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Answer 3

Question

Chapter 2, Problem 14QP

a)

Summary Introduction

To formulate: An LP model for the problem.

b)

Summary Introduction

To sketch: The feasible region for the problem.

c)

Summary Introduction

To calculate: The optimal solution.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 2, Problem 14QP

a)

Summary Introduction

To formulate: An LP model for the problem.

b)

Summary Introduction

To sketch: The feasible region for the problem.

c)

Summary Introduction

To calculate: The optimal solution.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 2, Problem 14QP

a)

Summary Introduction

To formulate: An LP model for the problem.

b)

Summary Introduction

To sketch: The feasible region for the problem.

c)

Summary Introduction

To calculate: The optimal solution.

Answer 6

Chapter 2, Problem 14QP

a)

Summary Introduction

To formulate: An LP model for the problem.

Answer 7

Chapter 2, Problem 14QP

a)

Summary Introduction

To formulate: An LP model for the problem.

Answer 8

b)

Summary Introduction

To sketch: The feasible region for the problem.

Answer 9

b)

Summary Introduction

To sketch: The feasible region for the problem.

Answer 10

c)

Summary Introduction

To calculate: The optimal solution.

Answer 11

c)

Summary Introduction

To calculate: The optimal solution.

Answer 12

Expert Solution & Answer

Answer 13

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Answer 14

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Answer 15

Ch. 2 - Prob. 1QP Ch. 2 - Prob. 2QP Ch. 2 - Prob. 3QP Ch. 2 - Prob. 4QP Ch. 2 - Prob. 5QP Ch. 2 - Prob. 6QP Ch. 2 - Prob. 7QP Ch. 2 - Prob. 8QP Ch. 2 - Prob. 9QP Ch. 2 - Prob. 10QP

To formulate: An LP model for the problem.

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To formulate: An LP model for the problem.

To sketch: The feasible region for the problem.

To calculate: The optimal solution.

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Chapter 2 Solutions