The way to minimize the bus company’s costs over the period of next five years. Linear programming: It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

Question

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Answer 1

Question

Chapter 4, Problem 45P

a)

Summary Introduction

To determine: The way to minimize the bus company’s costs over the period of next five years.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

a)

Expert Solution

Explanation of Solution

Model:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 1

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 2

Formula:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 3

The total cost is $3,420,000.

b)

Summary Introduction

To use: The solver table to determine the .change in the total number of hired, fired, total cost change due to the change in unit hiring, firing where each of them increases by the same percentage.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

b)

Expert Solution

Explanation of Solution

One-way solver table:

The one-way solver table is selected and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 4

Output:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 5

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 6

In the given range of percent increases, the total of hired and fired does not change. But, the cost increases.

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Answer 2

Question

Chapter 4, Problem 45P

a)

Summary Introduction

To determine: The way to minimize the bus company’s costs over the period of next five years.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

a)

Expert Solution

Explanation of Solution

Model:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 1

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 2

Formula:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 3

The total cost is $3,420,000.

b)

Summary Introduction

To use: The solver table to determine the .change in the total number of hired, fired, total cost change due to the change in unit hiring, firing where each of them increases by the same percentage.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

b)

Expert Solution

Explanation of Solution

One-way solver table:

The one-way solver table is selected and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 4

Output:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 5

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 6

In the given range of percent increases, the total of hired and fired does not change. But, the cost increases.

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Answer 3

Question

Chapter 4, Problem 45P

a)

Summary Introduction

To determine: The way to minimize the bus company’s costs over the period of next five years.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

a)

Expert Solution

Explanation of Solution

Model:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 1

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 2

Formula:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 3

The total cost is $3,420,000.

b)

Summary Introduction

To use: The solver table to determine the .change in the total number of hired, fired, total cost change due to the change in unit hiring, firing where each of them increases by the same percentage.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

b)

Expert Solution

Explanation of Solution

One-way solver table:

The one-way solver table is selected and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 4

Output:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 5

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 6

In the given range of percent increases, the total of hired and fired does not change. But, the cost increases.

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Answer 4

Question

Chapter 4, Problem 45P

a)

Summary Introduction

To determine: The way to minimize the bus company’s costs over the period of next five years.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

a)

Expert Solution

Explanation of Solution

Model:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 1

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 2

Formula:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 3

The total cost is $3,420,000.

b)

Summary Introduction

To use: The solver table to determine the .change in the total number of hired, fired, total cost change due to the change in unit hiring, firing where each of them increases by the same percentage.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

b)

Expert Solution

Explanation of Solution

One-way solver table:

The one-way solver table is selected and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 4

Output:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 5

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 6

In the given range of percent increases, the total of hired and fired does not change. But, the cost increases.

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Answer 5

Chapter 4, Problem 45P

a)

Summary Introduction

To determine: The way to minimize the bus company’s costs over the period of next five years.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

a)

Expert Solution

Explanation of Solution

Model:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 1

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 2

Formula:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 3

The total cost is $3,420,000.

b)

Summary Introduction

To use: The solver table to determine the .change in the total number of hired, fired, total cost change due to the change in unit hiring, firing where each of them increases by the same percentage.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

b)

Expert Solution

Explanation of Solution

One-way solver table:

The one-way solver table is selected and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 4

Output:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 5

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 6

In the given range of percent increases, the total of hired and fired does not change. But, the cost increases.

Answer 6

Chapter 4, Problem 45P

a)

Summary Introduction

To determine: The way to minimize the bus company’s costs over the period of next five years.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

a)

Expert Solution

Explanation of Solution

Model:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 1

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 2

Formula:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 3

The total cost is $3,420,000.

Answer 7

Chapter 4, Problem 45P

a)

Summary Introduction

To determine: The way to minimize the bus company’s costs over the period of next five years.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

Answer 8

a)

Expert Solution

Explanation of Solution

Model:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 1

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 2

Formula:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 3

The total cost is $3,420,000.

Answer 9

a)

Expert Solution

Answer 10

a)

Expert Solution

Answer 11

Expert Solution

Answer 12

b)

Summary Introduction

To use: The solver table to determine the .change in the total number of hired, fired, total cost change due to the change in unit hiring, firing where each of them increases by the same percentage.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

b)

Expert Solution

Explanation of Solution

One-way solver table:

The one-way solver table is selected and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 4

Output:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 5

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 6

In the given range of percent increases, the total of hired and fired does not change. But, the cost increases.

Answer 13

b)

Summary Introduction

To use: The solver table to determine the .change in the total number of hired, fired, total cost change due to the change in unit hiring, firing where each of them increases by the same percentage.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

Answer 14

b)

Expert Solution

Explanation of Solution

One-way solver table:

The one-way solver table is selected and the input is given as shown below:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 4

Output:

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 5

Practical Management Science, Loose-leaf Version, Chapter 4, Problem 45P , additional homework tip 6

In the given range of percent increases, the total of hired and fired does not change. But, the cost increases.

Answer 15

b)

Expert Solution

Answer 16

b)

Expert Solution

Answer 17

Expert Solution

Answer 18

Ch. 4.2 - Prob. 1P Ch. 4.2 - Prob. 2P Ch. 4.2 - Prob. 3P Ch. 4.2 - Prob. 4P Ch. 4.2 - Prob. 5P Ch. 4.2 - Prob. 6P Ch. 4.3 - Prob. 7P Ch. 4.3 - Prob. 8P Ch. 4.3 - Prob. 9P Ch. 4.3 - Prob. 10P

Concept explainers

Explanation of Solution

Explanation of Solution

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Chapter 4 Solutions