2. A craftsman named William Barnes builds two kinds of birdhouses, one for wrens and a second for bluebirds. Each wren birdhouse takes 4 hours of labor and 4 units of lumber. Each bluebird house requires 2 hours of labor and 12 units of lumber. The craftsman has available 48 hours of labor and 120 units of lumber. Wren houses yield a profit of $10 each and bluebird houses yield a profit of $15 each. 1. The aim of the objective function for William should be to _______ a. Maximize b. Minimize the objective value. 2. a. Write out the objective and constraints. b. Solve graphically

2. A craftsman named William Barnes builds two kinds of birdhouses, one for wrens and a second for bluebirds. Each wren birdhouse takes 4 hours of labor and 4 units of lumber. Each bluebird house requires 2 hours of labor and 12 units of lumber. The craftsman has available 48 hours of labor and 120 units of lumber. Wren houses yield a profit of $10 each and bluebird houses yield a profit of $15 each. 1. The aim of the objective function for William should be to _______ a. Maximize b. Minimize the objective value. 2. a. Write out the objective and constraints. b. Solve graphically

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 60P

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Concept explainers

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.

Question

A craftsman named William Barnes builds two kinds of

birdhouses, one for wrens and a second for bluebirds. Each wren birdhouse takes

hours of labor and

units of lumber. Each bluebird house requires

hours of labor and

units of lumber. The craftsman has available

hours of labor and

120

units of lumber. Wren houses yield a profit of

$10

each and bluebird houses yield a profit of

$15

each.

1. The aim of the objective function for William should be to

_______

a. Maximize

b. Minimize

the objective value.

a. Write out the objective and constraints.

b. Solve graphically

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1. A craftsman named William Barnes builds two kinds of birdhouses, one for wrens and asecond for bluebirds. Each wren birdhouse takes 4 hours of labor and 4 units of lumber. Eachbluebird house requires 2 hours of labor and 12 units of lumber. The craftsman has available48 hours of labor and 120 units of lumber. Wren houses yield a profit of $8 each and bluebirdhouses yield a profit of $15 each.(a) The aim of the objective function for William should be to ____ the objective value.(b) Define all decision variables(c) State the objective function(d) State all constraints(e) The optimal solution turns out to be W=8.4 and B=7.2 with an optimal value of 175.2. Whatis the actual optimal solution if W and B must take integer values?
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