Kalyan Singhal Corp. makes three products, and it has three machines available as resources as given in the following LP problem: Maximize contribution = 6X₁ +8X2 +4X3 1X₁ +7X2 +4X3 ≤ 72 (C₁ hours on machine 1) 2X1 + 1X2 +7X3 ≤ 76 8X1 + 4X2 + 1X3 ≤ 72 (C2: hours on machine 2) (C3: hours on machine 3) X1, X2, X3 ≥0 a) Using a computer software for solving LP, the optimal solution achieved is: X₁ = 5.64 (round your response to two decimal places). X24.57 (round your response to two decimal places). X3 = 8.59 (round your response to two decimal places). Contribution (objective value) = 104.77 (round your response to two decimal places). b) Machine 1 has 0 hours of unused time available at the optimal solution (round your response to two decimal places). Machine 2 has 0 hours of unused time available at the optimal solution (round your response to two decimal places). Machine 3 has 0 hours of unused time available at the optimal solution (round your response to two decimal places). c) An additional hour of time available for third machine, is worth .64 dollars to the firm (round your response to two decimal places). d) An additional 5 hours of time available for the second machine, at no cost to the firm, are going to increase the objective value by response to two decimal places). dollars (round your

Kalyan Singhal Corp. makes three products, and it has three machines available as resources as given in the following LP problem: Maximize contribution = 6X₁ +8X2 +4X3 1X₁ +7X2 +4X3 ≤ 72 (C₁ hours on machine 1) 2X1 + 1X2 +7X3 ≤ 76 8X1 + 4X2 + 1X3 ≤ 72 (C2: hours on machine 2) (C3: hours on machine 3) X1, X2, X3 ≥0 a) Using a computer software for solving LP, the optimal solution achieved is: X₁ = 5.64 (round your response to two decimal places). X24.57 (round your response to two decimal places). X3 = 8.59 (round your response to two decimal places). Contribution (objective value) = 104.77 (round your response to two decimal places). b) Machine 1 has 0 hours of unused time available at the optimal solution (round your response to two decimal places). Machine 2 has 0 hours of unused time available at the optimal solution (round your response to two decimal places). Machine 3 has 0 hours of unused time available at the optimal solution (round your response to two decimal places). c) An additional hour of time available for third machine, is worth .64 dollars to the firm (round your response to two decimal places). d) An additional 5 hours of time available for the second machine, at no cost to the firm, are going to increase the objective value by response to two decimal places). dollars (round your

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter12: Queueing Models

Section: Chapter Questions

Problem 59P

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Collins Little Company has a staff of 4 employees, each working 8 hours per day at a rate of$20/hour. Their overhead expenses are $200/day. Collins processes and closes on 12 titleseach day. They are considering purchasing a computerized title search system that will allowthe processing of 20 titles per day. With the new system, they could cut their staff to 2employees working the same hours at the same pay, but their overhead expenses woulddouble to $400 per day.a. Compute the labor productivity with the old system (in titles / worker hour).b. Compute the labor productivity with the new system (in titles / worker hour).c. Compute the multifactor productivity with the old system (in titles / dollar).d. Compute the multifactor productivity with the new system (in titles / dollar)
Collins Little Company has a staff of 4 employees, each working 8 hours per day at a rate of $20/hour. Their overhead expenses are $200/day. Collins processes and closes on 12 titles each day. They are considering purchasing a computerized title search system that will allow the processing of 20 titles per day. With the new system, they could cut their staff to 2 employees working the same hours at the same pay, but their overhead expenses would double to $400 per day. Compute the labor productivity with the old system (in titles / hour). Compute the labor productivity with the new system (in titles / hour). Compute the multifactor productivity with the old system (in titles / dollar). Compute the multifactor productivity with the new system (in titles / dollar).
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