Concept explainers
a)
To determine: A planting idea that will minimize the cost required to meet these requirements.
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)
To use: A solver table to know the impact on total cost when the requirements for wheat and corn change 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.
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Chapter 4 Solutions
Practical Management Science
- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?arrow_forwardYou are required to create the following tables in a database named STUDENT_REGISTRATIONS. Ensure that you create the database and table objects exactly as depicted below. STUDENTS STUDENT_ID VARCHAR(8) NOT NULL PRIMARY KEY STUDENT_NAME VARCHAR(40) NOT NULL STUDENT_SURNAME VARCHAR(40) NOT NULL MODULES MODULE_ID VARCHAR(8) NOT NULL PRIMARY KEY MODULE_NAME VARCHAR(40) NOT NULL MODULE_CREDIT SMALLINT NOT NULL STUDENT_MODULES STUDENT_ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES STUDENTS(STUDENT_ID) MODULE ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES MODULES(MODULE_ID) LECTURERS LECTURER_ID VARCHAR(8) NOT NULL PRIMARY KEY LECTURER_NAME VARCHAR(40) NOT NULL LECTURER_SURNAME VARCHAR(40) NOT NULL O The Independent Institute of Education (Pty) Ltd 2021 Page 3 of 10 19, 20; 21 2021 LECTURER_MODULES MODULE_ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES MODULES(MODULE_ID) LECTURER_ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES LECTURERS(LECTURER_ID)arrow_forwardPlease do not give solution in image format thanku Let xi = 1 if Project i is selected, i = 1,2,3,4,5; and 0 otherwise: Which answer below indicates that if Project 2 is selected, then Project 4 must be selected? Group of answer choices None of the above x2 + x4 = 1 x2 + x4 ≤ 1 x4 ≤ x2 x2 ≤ x4arrow_forward
- No chatgpt used i will give 5 upvotes typing pleasearrow_forwardMichael has decided to invest $40,000 in three types of funds. Fund A has projected an annual return of 8 percent, Fund B has projected an annual return of 10 percent, and Fund C has projected an annual return of 9 percent. He has decided to invest no more than 30 percent of the total amount in Fund B and no more than 40 percent of the total amount in Fund C. a. Formulate a linear programming model that can be used to determine the amount of investments Michael should allocate to each type of fund to maximize the total annual return.b. How much should be allocated to each type of fund? What is the total annual return?arrow_forwardBelow is a logical representation of an index table built on columnA SearchKey Record Location G005234 4 G098967 1 G098967 3 G136790 2 Based on information shown in the index table - which one of the following statements is accurate? O a. The table containing ColumnA is not physically sorted by ColumnA O b. The table containing ColumnA is physically sorted by ColumnA O c. Without seeing the actual table, based on index alone it is not possible to determine whether or not table is sorted by columnA O d. Insufficient information to determine whether or not the table is sorted by ColumnAarrow_forward
- QI. A company makes three types of chocolates and packages them in three types of packs. Pack I contains 4 white, 4 coco, and 12 milk chocolates, and sells for $9.40. Pack II contains 12 white, 4 cocoa, and 4 milk candies, and sells for $7.60. Pack III contains 8 white, 8 cocoa, and 8 milk chocolates, and sells for $ 11.00. Manufacturing costs per piece of chocolate are $0.20 for white, $0.25 for cocoa, and S 0.30 for milk. They can make 5,200 white, 3,800 cocoa, and 6,000 milk chocolates weekly. How many packs of cach type should the company produce each week in order to maximize its profit? What is the maximum profit? 1. Compute the profit for each type of packs. 2. Formulate the problem into a linear programming problem (LPP). 3. Solve the LPP for an optimal solution. 4. Determine the solution of the dual problem from the primal solution. 5. Write the dual of the problem in part 2. 6. Use dual simplex method to solve the problem in part 5 and verify your solution with that of part…arrow_forwardA company makes three types of candy and packages them in three assortments. Assortment I contains 4 cherry, 4 lemon, and 12 lime candies, and sells for a profit of $4.00. Assortment Il contains 12 cherry, 4 lemon, and 4 lime candies, and sells for a profit of $3.00. Assortment III contains 8 cherry, 8 lemon, and 8 lime candies, and sells for a profit of $5.00. They can make 5,200 cherry, 4,000 lemon, and 6,000 lime candies weekly. How many boxes of each type should the company produce each week in order to maximize its profit (assuming that all boxes produced can be sold)? What is the maximum profit? Select the correct choice below and fill in any answer boxes within your choice. OA. The maximum profit is $ when boxes of assortment 1. boxes of assortment II and assortment III are produced. OB. There is no way for the company to maximize its profit boxes ofarrow_forwardgreen vehicule Inc. manufactures electric cars and small delivery trucks. it has just opened a new factory where the C1 car and the T1 truck can both be manufactured. to make either vehicle, processing in the assembly shop and the paint shop are required. It takes 1/40 of a day and 1/60 of a paint a truck of type T1 and a car of type C1 in the paint shop, respectively. it takes 1/50 of a day to assemble either type of vehicule in the assembly shop. A t1 truck and a C1 car yield profits of $300 and $220, respectively, per vehicule soldarrow_forward
- Managing a Portfolio. A local bank wants to build a bond portfolio from a set of five bonds with $1 million available for investment. The expected annual return, the worst-case annual return on each bond, and the “duration” of each bond are given in the following table. (The duration of a bond is a measure of the bond’s sensitivity to changes in interest rates.)Expected Return Worst Case Return DurationBond 1 12.5% 8.0% 8Bond 2 11.5% 7.5% 7Bond 3 10.5% 6.8% 6Bond 4 9.5% 7.0% 5Bond 5 8.5% 7.4% 3The bank wants to maximize the expected return from its bond investments, subject to three conditions: The average worst-case return for the portfolio must be at least 7.2 percent.The average duration of the portfolio must be at most 6.Because of diversification requirements, at most 40 percent of the total amount invested can be invested in a single bond.What is the maximum return on the $1 million investment? How should the investment be…arrow_forwardPrepare and run the LP to solve this problemarrow_forwardHELParrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,