Consider the following linear programming problem: Maximize Z=$15x + $5y, subject to (1) 2x + y ≤ 10 and (2) 4x + 3y ≤ 24 and (3) x, y ≥ 0. Will the optimal solution change if the objective function becomes Maximize Z=$15x + $20y (constraints remain the same)? Select one: a. Can't determine given the information. b. Yes, it will change. c. No, it remains the same.
Q: 1.Which of the following is a decision-making criterion that is used for decision making under risk?…
A: (1) A project management measure called Expected Monetary Value (EMV) is used in risk analysis to…
Q: South African rapper, Cassper Nyovest, has launched a business venture manufacturing his very own…
A: Demand forecasting is the process of predicting future demand for products, services, and resources.…
Q: Suppose a certain manufacturing company produces connecting rods for 4- and 6-cylinder automobile…
A: Decision Variables:Suppose-x4 = No. of 4-cylinder connecting rods produced next weekx6 = No. of…
Q: The pull method is illustrated by Part 2 A. building it so they will come. B. automobile…
A: A pull system is indeed a lean manufacturing technique intended to cut production-process waste. In…
Q: Table gives observations regarding customers at a single-server FCFS queue. (a) Compute the average…
A: Find the Given details below: Given details: Customer Interarrival time Service time 1 1 3…
Q: What are The four main stages in the topic coherence framework pipeline depicted?
A: Ans) Coherence framework pipeline is very important. It becomes a essential part of the process.…
Q: With the aid of a well-labelled diagram, explain the transformation process in a hotel .
A: The hotel industry is one of the most lucrative ones. However, in order to stay ahead of their…
Q: The Sellinger Business School's Information Technology Service (ITS) is considering a new process to…
A: Work in process inventory can be identified by calculating the difference between maximum capacity…
Q: From looking at the picture provided: How might this process be improved to avoid delays/ what can I…
A: A process involves a series of activities that leads to the final act of providing the actual output…
Q: How many purchase units should be purchased at the order point? 8.
A: In any organization, the stock of the material, products, and semi-finished products are required to…
Q: The following tabulations are actual sales of units for six months and a starting forecast in…
A: Simple exponential smoothing is the part of time series of the forecasting method. It is calculated…
Q: South African rapper, Cassper Nyovest, has launched a business venture manufacturing his very own…
A: The price of a stock can fluctuate due to many factors. The most common is the supply and demand of…
Q: explain the role of upstream strategic logistics (supply logistics) towards the success of the…
A: Upstream strategic logistics is the process of managing the distribution of goods from the point of…
Q: Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the…
A: Linear Regression Assume X = Price Y = Number sold X Y XY X2 2.70…
Q: Additional Algo 11-6 Holding Cost per Unit A company usually holds 340 pounds of wax in its…
A: Given: Units in warehouse 340 Usage per day 42 Lead time 5 Holding cost per day 0.28
Q: Explain each point from 1 until 4 in a simple way
A: Logistics strategy is a business strategy that consists of the steps that a company takes in order…
Q: Which of the following is considered to be a hygiene factor by the motivator/hygiene theory?…
A: Ans) Hygiene factors includes those factors who presence may not necessarily increase the…
Q: Recognize and explain the importance of project stakeholders, top management commitment, and the…
A: Stakeholders are individuals, groups, or organizations that can influence, be affected, or perceive…
Q: Neptune Company has developed a small inflatable toy that it is anxious to introduce to its…
A:
Q: (a) Develop a network model and a linear programming formulation of this problem.? (i) network model…
A: The transportation model is used to calculate the minimum cost of the route by selecting different…
Q: Consider the following LP problem developed at Zafar Malik's Carbondale, Illinois, optical scanning…
A: Linear programming problem helps to identify the optimal point as maximum profit or minimum costs by…
Q: Assuming the selling profits for products A, B and C are 2, 3 and 4€ per unit. Determine how many…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Part 2 Given the following information for a company that wants to use Backorders: Regular Prod.…
A: Find the Given details below: Given details: Period 1 Period 2 Demand 2350 1250…
Q: When employing lean management strategies, maybe certain organizational effectiveness elements are…
A: Lean manufacturing is a set of practices and ideas that aim to cut down on the time it takes to…
Q: Which of the following is a process consideration in the implementation of a lean system?…
A: A company or business unit is said to have a lean system if it applies lean concepts to all aspects…
Q: A small firm intends to increase the capacity of a bottleneck operation by adding a new machine. Two…
A: The Breakeven Point is that level of sales at which there is no profit or no loss. In other words at…
Q: A coffee manufacturer blends four component coffee beans into three final blends of coffee. The…
A:
Q: Holiday Meal Turkey Ranch is considering buying two different types of Turkey feed. Each feed…
A:
Q: A foundry has a fixed daily cost of Rs. 50,000 whenever it operates and a variable cost of Rs. 800…
A: Given data is Fixed cost = Rs. 50,000 Variable cost = Rs. 800Q Daily production = 100 tonnes
Q: Using the data on call volume in the accompanying table, how would you forecast short-term demand
A: Forecasting is a method that generates precise forecasts of the future direction of trends using…
Q: Briefly explain the goal of the project then discuss the importance of the following in a Project…
A: A project is defined as any endeavour undertaken to create a unique product, service or result. A…
Q: d) Hurwicz (alpha = 0.30) e) Equal Likelihood f) What coefficient of pessimism should a farmer…
A: Formulae used: (i) Hurwicz = α x (Maximum Payoff for Alternatives) + (1 - α) x (Minimum Payoff for…
Q: Consider the following all-integer linear program. Max 1x1 + 1x2 s.t. 5x1 + 7x2 ≤ 42…
A: Linear programming, a mathematical technique used to help management decide how to make the most…
Q: a) Network of activities (precedence diagram) b) Cycle time c) The required number of workstations
A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…
Q: 1) What is the forecast for the fifth quarter using exponential smoothing with = 0.1? 2) Given…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: Have top-down design ideas ever been used in your work? If so, could you please state the reason.…
A: The top down approach in project management would imply that the project goals are broken down into…
Q: Describe what panel data is and the reasons for using it
A: Since you have posted a question with multiple questions, we will solve the first question for you.…
Q: A Omani Olive oil merchant imports two Olive oil brands, A and B, from Barazil, then blends and…
A: Due to the different proportions of oils in brands G and N, the decision variables will be as…
Q: Raw materials can create a sourcing issue for businesses. How can a business reduce this potential…
A: Material is an important resource for any organization that is into manufacturing products for their…
Q: .What is the objective function? 2. Express the first constraint (wood) in mathematical sentence 3.…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: o value chains in businesses
A: Finding the activities that offer the greatest value in terms of lower costs or competitive…
Q: What distinguishes risk management from risk assessment?
A: Risk is the likelihood that the result will be different from what is anticipated. Business risk is…
Q: project risk management, and what are the necessary measures, and what are they
A: Managing a project is similar to solving a Rubik's cube in that you must maintain numerous aspects…
Q: The 3-sigma limits for a process whose distribution conforms to the normal distribution includes…
A: Three sigma is the part of statistical. It is used for calculating the probability of the set of…
Q: Avery Collins Kinsley McDonnough Ross Shannon 2012 Total Sales by Agent January - June January…
A: Find the Given details below: Given details January February March April May June Avery $…
Q: 13.13 The TransCanada Lumber Company and Mill processes 10,000 logs annually, operating 250 days per…
A: Optimal order quantity helps the company to minimize logistic, overhead and stockouts costs. It is…
Q: Define green supply chain management,its importance and how an organisation engages with it.
A: Green supply chain management integrates the sustainable environmental processes into traditional…
Q: Consider the following LP problem developed at Zafar Malik's Carbondale, Illinois, optical…
A: Given data is Objective function: Max Z=1X1+1X2 Subject to constraints: C1.) 2X1+1X2≤100C2.)…
Q: Techno Corporation is currently manufacturing an item at variable costs of $5 per unit. Annual fixed…
A: The company have two kinds of costs which are fixed cost and variable cost. The fixed cost is spent…
Q: A machine makes two components; call them types A and B. It takes 630 seconds to switch production…
A: The batch size is indeed the number of samples processed prior to a model modification. The number…
4.
Consider the following linear programming problem:
Maximize Z=$15x + $5y, subject to (1) 2x + y ≤ 10 and (2) 4x + 3y ≤ 24 and (3) x, y ≥ 0.
Will the optimal solution change if the objective function becomes Maximize Z=$15x + $20y (constraints remain the same)?
Select one:
Can't determine given the information.
Yes, it will change.
No, it remains the same.
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 10 images
- Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.A common decision is whether a company should buy equipment and produce a product in house or outsource production to another company. If sales volume is high enough, then by producing in house, the savings on unit costs will cover the fixed cost of the equipment. Suppose a company must make such a decision for a four-year time horizon, given the following data. Use simulation to estimate the probability that producing in house is better than outsourcing. If the company outsources production, it will have to purchase the product from the manufacturer for 25 per unit. This unit cost will remain constant for the next four years. The company will sell the product for 42 per unit. This price will remain constant for the next four years. If the company produces the product in house, it must buy a 500,000 machine that is depreciated on a straight-line basis over four years, and its cost of production will be 9 per unit. This unit cost will remain constant for the next four years. The demand in year 1 has a worst case of 10,000 units, a most likely case of 14,000 units, and a best case of 16,000 units. The average annual growth in demand for years 2-4 has a worst case of 7%, a most likely case of 15%, and a best case of 20%. Whatever this annual growth is, it will be the same in each of the years. The tax rate is 35%. Cash flows are discounted at 8% per year.
- In Example 11.1, the possible profits vary from negative to positive for each of the 10 possible bids examined. a. For each of these, use @RISKs RISKTARGET function to find the probability that Millers profit is positive. Do you believe these results should have any bearing on Millers choice of bid? b. Use @RISKs RISKPERCENTILE function to find the 10th percentile for each of these bids. Can you explain why the percentiles have the values you obtain?Although the normal distribution is a reasonable input distribution in many situations, it does have two potential drawbacks: (1) it allows negative values, even though they may be extremely improbable, and (2) it is a symmetric distribution. Many situations are modelled better with a distribution that allows only positive values and is skewed to the right. Two of these that have been used in many real applications are the gamma and lognormal distributions. @RISK enables you to generate observations from each of these distributions. The @RISK function for the gamma distribution is RISKGAMMA, and it takes two arguments, as in =RISKGAMMA(3,10). The first argument, which must be positive, determines the shape. The smaller it is, the more skewed the distribution is to the right; the larger it is, the more symmetric the distribution is. The second argument determines the scale, in the sense that the product of it and the first argument equals the mean of the distribution. (The mean in this example is 30.) Also, the product of the second argument and the square root of the first argument is the standard deviation of the distribution. (In this example, it is 3(10=17.32.) The @RISK function for the lognormal distribution is RISKLOGNORM. It has two arguments, as in =RISKLOGNORM(40,10). These arguments are the mean and standard deviation of the distribution. Rework Example 10.2 for the following demand distributions. Do the simulated outputs have any different qualitative properties with these skewed distributions than with the triangular distribution used in the example? a. Gamma distribution with parameters 2 and 85 b. Gamma distribution with parameters 5 and 35 c. Lognormal distribution with mean 170 and standard deviation 60Six months before its annual convention, the American Medical Association must determine how many rooms to reserve. At this time, the AMA can reserve rooms at a cost of 150 per room. The AMA believes the number of doctors attending the convention will be normally distributed with a mean of 5000 and a standard deviation of 1000. If the number of people attending the convention exceeds the number of rooms reserved, extra rooms must be reserved at a cost of 250 per room. a. Use simulation with @RISK to determine the number of rooms that should be reserved to minimize the expected cost to the AMA. Try possible values from 4100 to 4900 in increments of 100. b. Redo part a for the case where the number attending has a triangular distribution with minimum value 2000, maximum value 7000, and most likely value 5000. Does this change the substantive results from part a?
- Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client's needs. For a new client, Innis has been authorized to invest up to $1.2 million in two investment funds: a stock fund and a money market fund. Each unit of the stock fund costs $50 and provides an annual rate of return of 10%; each unit of the money market fund costs $100 and provides an annual rate of return of 4%. The client wants to minimize risk subject to the requirement that the annual income from the investment be at least $60,000. According to Innis' risk measurement system, each unit invested in the stock fund has a risk index of 8, and each unit invested in the money market fund has a risk index of 3. The higher risk index associated with the stock fund simply indicates that it is the riskier investment. Innis's client also specified that at least $300,000 be invested in the money market fund. Refer to the computer solution shown below. Optimal…a. Which of the following best describes the meaning of the equation P(25) = 200? 1. When 200 calculators are sold, the profit is $25. II. When 200 calculators are sold, the profit is increasing at a rate of $25 per additional calculator III. When 25 calculators are sold, the profit is $200. IV. When 25 calculators are sold, the profit is increasing at a rate of $200 per additional calculatoWhich of the following is true? a)The maximin criterion is an approach in Optimization under uncertainty which finds a solution that has the best possible payoff. b)The maximin criterion is an approach in Optimization under uncertainty which finds a solution with the best worst possible payoff. c)A risk profile represents the probability distribution of uncertain inputs. d)Decision tree is a method to solve any optimization problem when the outcomes are subject to uncertainty.
- For the remaining questions, consider the following problem description: An oil company is considering exploring new well sites S₁, S2, ..., S10 with respective costs C1, C2, C10. And in particular they want to find the least-cost selection of 5 out of the 10 possible sites. The binary decision variables x₁,x2,..., X10 denote the decision to explore the corresponding site.Consider the following Pareto maximization problem with decision variables x and y: vmax (x2 + x, - 2y) s.t. 0< x< 10 0< y< 5. What is the unique efficient point for this problem? (0,0) (10,5) (10,0) (110,0)