Concept explainers
a)
To graph: The feasible region and determine the optimal solution.
Introduction:
Linear programming:
It is a linear optimization technique followed to develop the best outcome for the linear programming problem. The outcome might be to maximize profit, minimize cost, or to determine the optimal product mix. The outcome will take the constraints present in achieving the solution into consideration.
Feasible region:
A feasible region is a solution space which contains all the possible points of an optimization problem. The region will be formed after satisfying the constraints in the problem which includes inequalities and integer constraints. It is the area that is bounded by the constraints of the problem.
b)
To determine: The total cost of the optimal solution.
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Operations Management: Sustainability and Supply Chain Management (12th Edition)
- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.arrow_forwardSouthern Sporting Goods Company makes basketballs and footballs. Each product is produced from two resources-rubber and leather. The resource requirements for each product and the total resources available are as follows: Product Resource Requirement per Unit Rubber (lb.) Basketball 4 Football 5 Total Resources available 500 lb. 800 ft.2 * Each basketball produced results in a profit of $12, and each football earns $16 in profit. b. Transform this model into standard form Leather (ft.2) 3 2 a. Formulate a linear programming model to determine the number of basketballs and footballs to produce in order to maximize profit.arrow_forwardA manufacturing firm has four plants and wants to find the most efficient means of meeting the requirements of its four customers. The relevant information for the plants and customers, along with shipping costs in dollars per unit, are shown in the table below: Customer (requirement) Factory (capacity) Customer 1 (125) Customer 2 (150) Customer 3 (175) Customer 4 (75) A (100) $ 15 $ 10 $ 20 $ 17 B (75) $ 20 $ 12 $ 19 $ 20 C (100) $ 22 $ 20 $ 25 $ 14 D (250) $ 21 $ 15 $ 28 $ 12 How many supply nodes are present in this problem? Multiple Choice: 4 3 1 8 16arrow_forward
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- Pls help ASAP for botharrow_forwardExample 5: Find lim Solution // lim X-X x 2 + 2 = lim X-X (x+2) x→∞ √√x²+1) X-X x + 11 0 0 1+arrow_forwardSolve the question below using the attached excel templates with formulas for renting both slow and fast copies (labeled in the excel tabs). Question: The Decision Sciences Department is trying to determine whether to rent a slow or a fast copier. The department believes that an employee’s time is worth $15 per hour. The slow copier rents for $4 per hour, and it takes an employee an average of 10 minutes to complete copying. The fast copier rents for $15 per hour, and it takes an employee an average of six minutes to complete copying. On average, four employees per hour need to use the copying machine. (Assume the copying times and interarrival times to the copying machine are exponentially distributed.) Which machine should the department rent to minimize expected total cost per hour?arrow_forward
- Solve the question below using the attached excel templates with formulas for renting both slow and fast copies (labeled in the excel tabs). Question: The Decision Sciences Department is trying to determine whether to rent a slow or a fast copier. The department believes that an employee’s time is worth $15 per hour. The slow copier rents for $4 per hour, and it takes an employee an average of 10 minutes to complete copying. The fast copier rents for $15 per hour, and it takes an employee an average of six minutes to complete copying. On average, four employees per hour need to use the copying machine. (Assume the copying times and interarrival times to the copying machine are exponentially distributed.) Which machine should the department rent to minimize expected total cost per hour?arrow_forwardLet’s consider the following LP problem: min Subject to: Solve the problem with the graphic method.arrow_forwardJk.335. Propiem 14-8 Rent'R Cars is a multisite car rental company in the city. It is trying out a new "return the car to the location most convenient for you" policy to improve customer service. But this means that the company has to constantly move cars around the city to maintain required levels of vehicle availability. The supply and demand for economy cars, and the total cost of moving these vehicles between sites, are shown below. From To A B C Demand D $9 9 5 50 From/To $8 Candidate solution A B C Total shipped Cost A - B C Total costs 8 3 60 $6 8 3 25 $5 D 0 10 a. Find the solution that minimizes moving costs using Microsoft Excel. (Leave no cells blank - be certain to enter "0" wherever required.) Supply 50 40 75 30 165 165 E F G Supply $arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,