Concept explainers
a)
To determine: The profit of the firm.
Introduction: In linear programming, the unbounded solution would occur when the objective function is infinite. If no solution satisfied the constraints, then it is said to be an unfeasible solution.
b)
To draw: The graph for part (a) of the solution.
Introduction: In linear programming, the unbounded solution would occur when the objective function is infinite. If no solution satisfied the constraints, then it is said to be an unfeasible solution.
c)
To determine: The cost that the firm would pay for each extra unit of wood.
Introduction: In linear programming, the unbounded solution would occur when the objective function is infinite. If no solution satisfied the constraints, then it is said to be an unfeasible solution.
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Chapter 3 Solutions
PRACTICAL MGT. SCIENCE (LL)-W/MINDTAP
- apply appropriate techniques to solve a range of models of mathematical and real-world problems analyse the effects of changing model parameters on LP model predictions * select and develop appropriate mathematical models for decision making problems (a) A stationary supplies company wishes to produce deluxe and budget ink pens. Deluxe ink pens require eight units of material and 9 minutes to produce each pen. Budget ink pens require six units of material and 4 minutes to produce each pen. The company has 38.25 hours of labour and 1950 units of material available per week. Profit for deluxe ink pens is $2.40 per pen and for budget ink pens is $1.75 per pen. The company also wants the number of deluxe ink pens to be produced to be at least 6 times the number of budget ink pens produced. Formulate a Linear Programming problem to determine the company's best production plan to maximise profit (do not solve). (b) Solve the following Linear Programming problem using the Simplex Method. Full…arrow_forwardWHAT WLL HAPPEN IF THERE IS A CHANGE IS ONE OF THE OBJECTIVE FUNCTION COEFFICIENT? A. SLOPE OF THE OBJECTIVE FUNCTION LINE ALWAYS WILL CHANGE B. OPTIMAL SOLUTION ALWAYS WILL CHANGE C. ONE OR MORE OF THE DECISION VARIABLES ALWAYS WILL CHANGE D. ALL OF THE ABOVE E. NONE OF THE ABOVEarrow_forwardPlease do not give solution in image format thankuarrow_forward
- To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. Table shows the value of food and beverage sales ($1000s) for the first three years of operation. Food and Beverage Sales for the Vintage Restaurant ($1000s) Month First Year Second Year Third Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235 Managerial Report Perform an analysis of the sales data for the Vintage Restaurant. Prepare a report for Karen that summarizes your findings, forecasts, and recommendations. Include the following: A time series plot. Comment on the underlying pattern in the time series.…arrow_forwardPlease do not give solution in image format thanku The Silly Nut Company makes two mixtures of nuts: Mixture A and Mixture B. A pound of Mixture A contains 12 oz of peanuts, 3 oz of almonds and 1 oz of cashews and sells for $4. A pound of Mixture B contains 12 oz of peanuts, 2 oz of almonds and 2 oz of cashews and sells for $5. The company has 1080 lb. of peanuts, 240 lb. of almonds, 160 lb. of cashews. How many pounds of each of mixtures A and B should the company make to maximize profit? (Hint: Use consistent units. Work the entire problem in pounds by converting all values given in ounces into fractions of pounds).arrow_forwardSolve only accurate solutions don't use guidelines answer okkarrow_forward
- To find the profit on the varying prices of a candy bar you will use: a. One variable Data Table b. Two variable Data Table c. Goal Seek d. None of thesearrow_forwardTimely Transport provides local delivery service for a number of downtown and suburban businesses. Delivery charges are based on distance and weight involved for each delivery: 34 cents per pound and 29 cents per mile. Also, there is a $39 handling fee per parcel. a. Develop an expression that summarizes delivery charges. (Enter your answers as dollar amounts to 2 decimal places (x1= weight, x2 distance). Omit the "$" sign in your response.) y = $ X₁ + $ x₂ + $ b. Determine the delivery charge for transporting a 49-pound parcel 29 miles. (Do not round your intermediate calculation. Round your answer to 2 decimal places. Omit the "$" sign in your response.) y = $arrow_forwardBelow shown is a logical representation of an index table built on columnA SearchKey Record Location G005234 1 G098967 3 G099537 9 G136790 13 Based on the provided information, which one of the following statements is correct? O a. It is most likely a clustered index, but could possibly be non-clustered O b. There is not enough information to conclude the nature of this index O c. It is most likely a non-clustered index, but could possibly be clustered O d. It is definitely a clustered index Oe. It is definitely a non-clustered indexarrow_forward
- Which of the following statements about what-if analysis is TRUE? Multiple Choice Changes in an objective function coefficient will always lead to changes in decision variable values. Changes to constraint right-hand side values will always lead to changes in decision variable values. Changes in an objective function coefficient will never lead to changes in decision variable values. Changes to constraint right-hand side values will never lead to changes in decision variable values. None of the answer choices is correct.arrow_forwardCompany XYZ produces and sells two types of calculators: Basic and Scientific. The Basic has a lower selling price per unit compared to the Scientific. However, the Basic has a higher contribution margin compared to the Scientific. Due to fixed production capacity, the company has a cap on total production ability. If the company's CEO has decided to shift the sales mix towards producing more Basic calculators. What would be the effect on total profits? a. Cannot be determined using the above information b. Total profits would remain the same Total profits would increase O C. d. None of the given answers e. Total profits would decrease OO00arrow_forwardPlease do not give solution in image format thanku TriStar Manufacturing makes three models of fans, identified by the unimaginative names of A, B, and C. The fans are made out of nuts, bolts, wire, blades, and motors. The current inventory levels and parts list for each type of fan is shown in the table below. Profit from Fan A is $35, Fan B profit is $50, and Fan C profit is $60. TriStar Manufacturing wants to know the best product mix to maximize the revenue.arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,