Concept explainers
a)
To determine: The way to minimize the sum of the setup and machine operation times.
Introduction: The variation between the present value of the
b)
To determine: The change in the setup time for machine operation times.
Introduction: The variation between the present value of the cash outflows and the present value of the cash inflows are known as the Net Present Value (NPV).
c)
To determine: The change in the required time for machine 1.
Introduction: The variation between the present value of the cash outflows and the present value of the cash inflows are known as the Net Present Value (NPV).
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Chapter 6 Solutions
Practical Management Science
- The Mechanical Engineering department has a student team that is designing a formula car for national competition. The time required for the team to assemble the first car is 100 hours. Their improvement (or learning rate) is 0.8, which means that as output is doubled, their time to assemble a car is reduced by 20%. Use this information to determine: the time it will take the team to assemble the 10th car. Create an excel spreadsheet having the following table. You must show the formula used in the excel sheets to calculate values in the columns. Plot Number of Units vs Time (in hours) and Number of Units vs Cumulative Time (in hours) in the same plot. Use different colors to distinguish the data.arrow_forwardThe Mechanical Engineering department has a student team that is designing a formula car for national competition. The time required for the team to assemble the first car is 100 hours. Their improvement (or learning rate) is 0.8, which means that as output is doubled, their time to assemble a car is reduced by 20%. Use this information to determine: the time it will take the team to assemble the 10th car. Create an excel spreadsheet having the following table. You must show the formula used in the excel sheets to calculate values in the columns. Plot Number of Units vs Time (in hours) and Number of Units vs Cumulative Time (in hours) in the same plot. N (no of Units) Time to Produce Nth Cumulative Time (1 to N) 1 2 3 4 5 6 7 8 9 10arrow_forwardGreen Vehicle 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 in the paint shop are required. It takes 1/40 of a day and 1/60 of a day to 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 vehicle in the assembly shop. A T1 truck and a C1 car yield profits of $300 and $220, respectively, per vehicle sold. a) Define the objective function and constraint equations. b) Graph the feasible region. c) What is a maximum-profit daily production plan at the new factory? d) How much profit will such a plan yield, assuming whatever is produced is sold?arrow_forward
- Engineering managementarrow_forwardPlease do not give solution in image format thankuarrow_forwardIn the manufacture of paper products, automation is used to increase productivity while reducing human resource requirements. Mechanical faults, which can severely reduce output, occur more frequently because people are not involved in much of the production process. These problems need to be caught quickly. One method for discovering these faults is through vibration analysis. Each type of problem generates a different type of vibration. The paper industry uses _____ to determine the type, severity, and location of vibrations in its machinery as well as to create a timetable for maintenance activities. A. trend analysis B. expert systems C. decision support systems D. executive information systems E. RAID systemsarrow_forward
- (see attached images, kindly answer it based on your knowledge, thank you!)arrow_forwardGreen Vehicle 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 in the paint shop are required. It takes 1/25 of a day and 1/75 of a day to 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 vehicle in the assembly shop. AT1 truck and a C1 car yield profits of $325 and $250, respectively, per vehicle sold. The aim of the objective function for Green Vehicle Inc. should be to Maximize the objective value. The optimum solution is: Number of trucks to be produced per day = 12.50 (round your response to two decimal places). Number of cars to be produced per day = 37.50 (round your response to two decimal places). Optimal solution value =(round your response to two decimal places).arrow_forwardGreen Vehicle 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 in the paint shop are required. It takes 1/40 of a day and 1/60 of a day to 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 vehicle in the assembly shop. AT1 truck and a C1 car yield profits of $325 and $220, respectively, per vehicle sold. The aim of the objective function for Green Vehicle Inc. should be to Maximize the objective value. The optimum solution is: Number of trucks to be produced per day = 240 (round your response to two decimal places).arrow_forward
- Please do not give solution in image format thankuarrow_forwardGreen Vehicle 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 in the paint shop are required. It takes 1/25 of a day and 1/60 of a day to paint a truck of type T1 and a car of type C1 in the paint shop, respectively. It takes 1/45 of a day to assemble either type of vehicle in the assembly shop. A T1 truck and a C1 car yield profits of $300 and $220, respectively, per vehicle sold. The aim of the objective function for Green Vehicle Inc. should be to Maximize the objective value. Part 2 The optimum solution is: Number of trucks to be produced per day = ? enter your response herearrow_forwardGreen Vehicle 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 in the paint shop are required. It takes 1/25 of a day and 1/60 of a day to paint a truck of type T1 and a car of type C1 in the paint shop, respectively. It takes 1/45 of a day to assemble either type of vehicle in the assembly shop. A T1 truck and a C1 car yield profits of $300 and $220, respectively, per vehicle sold. The optimum solution is: Number of trucks to be produced per day = ? (round your response to two decimal places).arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,