Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
thumb_up100%
Chapter 6, Problem 60P
a)
Summary Introduction
To determine: The way to minimize the annual cost of producing the cars.
Introduction: The variation between the present value of the
b)
Summary Introduction
To determine: The change in demand using SolverTable.
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)
Summary Introduction
To determine: The effect of change on optimal solution using SolverTable.
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).
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Minimize Z= x1+2x2-3x3-2x4
subject to:
x1+2x2-3x3+x4=4
x1+2x2+x3+2x4=4
x1, x2, x3,x4 are equal or greater then zero
Creative Robotics (CR) manufactures two lightweight robots designed for easier house-cleaning. The Alpha-ONE model is older, heavier, and is designed for carpet cleaning. The Alpha-TWO model is newer, lighter, and is designed primarily for wooden floor cleaning. The management team is trying to identify how to minimize the total costs of producing these two models. Their full-time workers consist of primarily manufacturing experts and about 3 people are required to commit themselves to manufacture the Alpha-ONE model and 4 for the Alpha-TWO model, per day. They have a total pool of 100 full-time workers now but are willing to hire more manufacturers if required. Similarly, the Alpha-TWO model is more complex and management has a pool of 20 part-time technical workers to help with the complexity, every day. Again, they are willing to hire more part-time workers if required to assist with the Alpha-TWO model. As far as staff allocations for additional assistance in manufacturing…
A political party is planning a ninety-minute television show. The show will have at least 9 minutes of direct requests for money from viewers. Three of the party's politicians will be on the
show- a senator, a congresswoman, and a governor. The senator, a party "elder statesman," demands that he be on screen for at least twice as long as the governor. The total time taken by the
senator and the governor must be at least twice the time taken by the congresswoman. Based on a pre-show survey, it is believed that 37, 41, and 45 (in thousands) viewers will watch the
program for each minute the senator, congresswoman, and governor, respectively, are on the air. Find the time that should be allotted to each politician in order to get the maximum number of
viewers. Find the maximum number of viewers.
The quantity to be maximized, z, is the number of viewers in thousands. Let x, be the total number of minutes allotted to the senator, × be the total number of minutes allotted to the…
Chapter 6 Solutions
Practical Management Science
Ch. 6.3 - Prob. 1PCh. 6.3 - Prob. 2PCh. 6.3 - Solve Problem 1 with the extra assumption that the...Ch. 6.3 - Prob. 4PCh. 6.3 - Prob. 5PCh. 6.3 - Prob. 6PCh. 6.3 - Prob. 7PCh. 6.3 - Prob. 8PCh. 6.3 - Prob. 9PCh. 6.3 - Prob. 10P
Ch. 6.4 - Prob. 11PCh. 6.4 - Prob. 12PCh. 6.4 - Prob. 13PCh. 6.4 - Prob. 14PCh. 6.4 - Prob. 15PCh. 6.4 - Prob. 16PCh. 6.4 - Prob. 17PCh. 6.4 - Prob. 18PCh. 6.4 - Prob. 19PCh. 6.4 - Prob. 20PCh. 6.4 - Prob. 21PCh. 6.4 - Prob. 22PCh. 6.4 - Prob. 23PCh. 6.5 - Prob. 24PCh. 6.5 - Prob. 25PCh. 6.5 - Prob. 26PCh. 6.5 - Prob. 28PCh. 6.5 - Prob. 29PCh. 6.5 - Prob. 30PCh. 6.5 - In the optimal solution to the Green Grass...Ch. 6.5 - Prob. 32PCh. 6.5 - Prob. 33PCh. 6.5 - Prob. 34PCh. 6.5 - Prob. 35PCh. 6.6 - Prob. 36PCh. 6.6 - Prob. 37PCh. 6.6 - Prob. 38PCh. 6 - Prob. 39PCh. 6 - Prob. 40PCh. 6 - Prob. 41PCh. 6 - Prob. 42PCh. 6 - Prob. 43PCh. 6 - Prob. 44PCh. 6 - Prob. 45PCh. 6 - Prob. 46PCh. 6 - Prob. 47PCh. 6 - Prob. 48PCh. 6 - Prob. 49PCh. 6 - Prob. 50PCh. 6 - Prob. 51PCh. 6 - Prob. 52PCh. 6 - Prob. 53PCh. 6 - Prob. 54PCh. 6 - Prob. 55PCh. 6 - Prob. 56PCh. 6 - Prob. 57PCh. 6 - Prob. 58PCh. 6 - Prob. 59PCh. 6 - Prob. 60PCh. 6 - Prob. 61PCh. 6 - Prob. 62PCh. 6 - Prob. 63PCh. 6 - Prob. 64PCh. 6 - Prob. 65PCh. 6 - Prob. 66PCh. 6 - Prob. 67PCh. 6 - Prob. 68PCh. 6 - Prob. 69PCh. 6 - Prob. 70PCh. 6 - Prob. 71PCh. 6 - Prob. 72PCh. 6 - Prob. 73PCh. 6 - Prob. 74PCh. 6 - Prob. 75PCh. 6 - Prob. 76PCh. 6 - Prob. 77PCh. 6 - Prob. 78PCh. 6 - Prob. 79PCh. 6 - Prob. 80PCh. 6 - Prob. 81PCh. 6 - Prob. 82PCh. 6 - Prob. 83PCh. 6 - Prob. 84PCh. 6 - Prob. 85PCh. 6 - Prob. 86PCh. 6 - Prob. 87PCh. 6 - Prob. 88PCh. 6 - Prob. 89PCh. 6 - Prob. 90PCh. 6 - Prob. 91PCh. 6 - Prob. 92PCh. 6 - This problem is based on Motorolas online method...Ch. 6 - Prob. 94PCh. 6 - Prob. 95PCh. 6 - Prob. 96PCh. 6 - Prob. 97PCh. 6 - Prob. 98PCh. 6 - Prob. 99PCh. 6 - Prob. 100PCh. 6 - Prob. 1CCh. 6 - Prob. 2CCh. 6 - Prob. 3.1CCh. 6 - Prob. 3.2CCh. 6 - Prob. 3.3CCh. 6 - Prob. 3.4CCh. 6 - Prob. 3.5CCh. 6 - Prob. 3.6C
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- 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_forwardHeller Manufacturing has two production facilities that manufacture baseball gloves. Production costs at the two facilities differ because of varying labor rates, local property taxes, type of equipment, capacity, and so on. The Dayton plant has weekly costs that can be expressed as a function of the number of gloves produced TCD(X) = x2 - X + 3 where X is the weekly production volume in thousands of units and TCD(X) is the cost in thousands of dollars. The Hamilton plant's weekly production costs are given by TCH(Y) = y2 + 2Y + 2 where Y is the weekly production volume in thousands of units and TCH(Y) is the cost in thousands of dollars. Heller Manufacturing would like to produce 5,000 gloves per week at the lowest possible cost. (a) Formulate a mathematical model that can be used to determine the optimal number of gloves to produce each week at each facility. min s.t. = 5 X, Y 2 0 (b) Use Excel Solver or LINGO to find the solution to your mathematical model to determine the optimal…arrow_forwardHeller Manufacturing has two production facilities that manufacture baseball gloves. Production costs at the two facilities differ because of varying labor rates, local property taxes, type of equipment, capacity, and so on. The Dayton plant has weekly costs that can be expressed as a function of the number of gloves produced TCD(X) = x² - X + 9 where X is the weekly production volume in thousands of units and TCD(X) is the cost in thousands of dollars. The Hamilton plant's weekly production costs are given by TCH(Y) = y² + 2Y + 6 where Y is the weekly production volume in thousands of units and TCH(Y) is the cost in thousands of dollars. Heller Manufacturing would like to produce 9,000 gloves per week at the lowest possible cost. (a) Formulate a mathematical model that can be used to determine the optimal number of gloves to produce each week at each facility. X²-X+9+²+2Y+6 min s.t. X+Y X, Y 20 = 9 (b) Use Excel Solver or LINGO to find the solution to your mathematical model to…arrow_forward
- thec Technologies Corporation (RTC) manufactures two radar models to monitor the speed of missiles. Deluxe model has an accuracy of plus or minus 2 km per hour, whereas standard model has an accuracy of plus or minus 3 km per hour. For the next week, the company has orders for 160 units of deluxe model and 240 units of standard model. Although RTC purchases all the electronic components used in both models, the plastic cases for both models are manufactured at a RTC plant in Chicago. Each deluxe model case requires 4 minutes of injection-molding time and 6 minutes of assembly time. Each standard model case requires 3 minutes of injection-molding time and 8 minutes of assembly time. For next week the Chicago plant has 960 minutes of injection-molding time available and 1728 minutes of assembly time available. The manufacturing cost is $10 per case for deluxe model and $6 per case for standard model. Depending upon demand and the time available at the C plant, RTC occasionally purchases…arrow_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_forwardPlease see attached file.arrow_forward
- green 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_forwardHeller Manufacturing has two production facilities that manufacture baseball gloves. Production costs at the two facilities differ because of varying labor rates, local property taxes, type of equipment, capacity, and so on. The Dayton plant has weekly costs that can be expressed as a function of the number of gloves produced TCD(X) = X2 − X + 4 where X is the weekly production volume in thousands of units and TCD(X) is the cost in thousands of dollars. The Hamilton plant's weekly production costs are given by TCH(Y) = Y2 + 2Y + 3 where Y is the weekly production volume in thousands of units and TCH(Y) is the cost in thousands of dollars. Heller Manufacturing would like to produce 9,000 gloves per week at the lowest possible cost. (a) Formulate a mathematical model that can be used to determine the optimal number of gloves to produce each week at each facility. min s.t. = 9 X, Y ≥ 0 (b) Use Excel Solver or LINGO to find the…arrow_forwardFRUIT COMPUTER COMPANY Fruit Computer Company manufactures memory chips in batches of ten chips. From past experience, Fruit knows that 80% of all batches contain 10% (1 out of 10) defective chips, and 20% of all batches contain 50% (5 out of 10) defective chips. If a good (that is, 10% defective) batch of chips is sent to the next stage of production, processing costs of $4000 are incurred, and if a bad batch (50% defective) is sent on to the next stage of production, processing costs of $16000 are incurred. Fruit also has the alternative of reworking a batch at a cost of $4000. A reworked batch is sure to be a good batch. Alternatively, for a cost of $400, Fruit can test one chip from each batch in an attempt to determine whether the batch is defective. QUESTIONS 1.Determine a strategy so Fruit can minimize the expected total cost per batch. 2.Compute the EVSI and EVPI.arrow_forward
- A company has one machine which can be used to make product Alpha and product Beta. Each unit of product Alpha requires 45 minutes of machine time, while each unit of product Beta requires 37 minutes of machine time. The machine can be used for 8 hours per day and 5 days per week. Next week the company will produce 23 units of product Alpha. After completing the production of Alpha, the company will produce product Beta. How many units of product Beta can be produced next week? Use at least 4 decimals.You must showm your calculation steps and brief explanation on your Excel spreadsheets.arrow_forwardIf a firm wishes to choose at least 2 of 4 possible activities (A, B, C and D), the constraint XÃ + XB + XC + XD ≥ 2 will enforce this relationship in a linear program. True or False True Falsearrow_forwardFord has four automobile plants. Each is capable of producing the Taurus, Lincoln or Escort but it an only produce one of these cars. The fixed cost of operating each plant for a year and the variable cost of producing a car of each type at the plant are in the table. Variable Cost $ Plant Fixed Cost $ Taurus Lincoln Escort 1 7 billion 12,000 16,000 9,000 2 6 billion 15,000 18,000 11,000 3 4 billion 17,000 19,000 12,000 4 2 billion 19,000 22,000 14,000 Ford faces the following restrictions: each plant can produce only one type of car the total production of each type of car must be at a single plant; that is for examply if any Tauruses are made at plant 1, then all Tauruses must be made there if plants 3 and 4 are used then plant 1 must also be used Each year, Ford must produce 500,000 of each type of car. Question: Formulate an IP whose solution will tell Ford how to minimize the annual cost of producing cars.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,