Answered: 20 To Aqaba Mafrag Jerash Supply From…

20 To Aqaba Mafrag Jerash Supply From Amman 1 8 80 Lbid 10 |14 120 Zarga |16 14 100 Demand 60 90 150 Using the North-west Corner Method, What is the Total Cost of initial feasible solution,

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 80P

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Consider a monopolistically competitive market with NN firms. Each firm's business opportunities are described by the following equations: Demand: Q=100N−PQ=100N−P Marginal Revenue: MR=100N−2QMR=100N−2Q Total Cost: TC=50+Q2TC=50+Q2 Marginal Cost: MC=2QMC=2Q How much profit does each firm make? a: 1,250/N*2−50 b: 2,500/N*2−50 c: 50+625/N*2 d: 1,875/N*2 In the long run, how many firms will exist in this market?
A goldsmith makes two types of jewelry. A model A ring is made with 1 g of gold and 1.5 g of silver and sells for 25 UM.Another model B ring sells for 30 UM and is made of 1.5 g of gold and 1 g of silver. If you only have 750 gof each metal, how many rings should be made of each type to obtain maximum profit?Requested:- Make Initial Table of the problem.- Obtain the Case Variables- Obtain the Objective Function- Get Restrictions- Create the Simplex Table- Obtain the Optimal Solution and the Slack Variables.Solve this operational research exercise.
ssume the maximum demand for Super is 600,000 barrels. What is the optimal maximum profit? Hints: There are six decision variables are as follows: R1: # of barrels of ingredient 1 used in Regular fuel R2: # of barrels of ingredient 2 used in Regular fuel R3: # of barrels of ingredient 3 used in Regular fuel S1: # of barrels of ingredient 1 used in Super fuel S2: # of barrels of ingredient 2 used in Super fuel S3: # of barrels of ingredient 3 used in Super fuel Some calculations you would need in the constraints: The total # of barrels for Regular would be R1+R2+R3. The total # of barrels for Super would be S1+S2+S3. The total # of barrels of Ingredient 1 would be R1+S1. The total # of barrels of Ingredient 2 would be R2+S2. The total # of barrels of Ingredient 3 would be R3+S3.
Chapter 6. Solve the following Linear Program using the Solver method and answer the questions given below (round to two decimal places): Maximize 12A + 15B s.t. 3A + 7B <= 250 5A + 2B <= 200 B <= 25 A, B >= 0 a. The optimal value of A is 31.03 and the optimal value of B is 22.41. b. The maximized function yields a solution of 708.62. Chapter 7. For the problem you solved in Q1, obtain the Sensitivity Report, and answer the following questions. Remember to round to two digits and you can enter “infinity” for unlimited regions: The range for Variable A is from ????? to ????? The range for Variable B is from ????? to ????? The range for Constraint 1 is from ????? to ????? The range for Constraint 2 is from ????? to ????? The range for Constraint 3 is from ????? to ?????
3-2) The optimal quantity of the three products and resulting revenue for Taco Loco is: A) 28 beef, 80 cheese, and 39.27 beans for $147.27. B) 10.22 beef, 5.33 cheese, and 28.73 beans for $147.27. C) 1.45 Z, 8.36 Y, and 0 Z for $129.09. D) 14 Z, 13 Y, and 17 X for $9.81. 3-3) Taco Loco is unsure whether the amount of beef that their computer thinks is in inventory is correct. What is the range in values for beef inventory that would not affect the optimal product mix? A) 26 to 38.22 pounds B) 27.55 to 28.45 pounds C) 17.78 to 30 pounds D) 12.22 to 28 pounds
At the beginning of month t, farmer Smith has xtbushels of wheat in his warehouse. He has the opportunityto sell wheat at a price st dollars per bushel and can buywheat at pt dollars per bushel. Farmer Smith’s warehousecan hold at most C units at the end of each month.a Formulate a recursion that can be used to maximizethe total profit earned during the next T months.b Let ft(xt) be the maximum profit that can be earnedduring months t, t 1, . . . , T, given that xt bushels of wheat are in the warehouse at the beginning of month t. By working backward, show that for appropriately cho-sen constants at and bt, ft(xt) at btxt c During any given month, show that the profit-maximizing policy has the following properties: (1) The amount sold during month t will equal either xt or zero.(2) The amount purchased during a given month will beeither zero or sufficient to bring the month’s endingstock to C bushels.
1. (i) A consumer has income of £3,000. Apple juice is priced at £3 a bottle and cheese is priced at £6 a kilo. Drawthe budget constraint for a consumer with standard preferences. What is the slope of this budget constraint? (ii) Show a consumer’s budget constraint and indifference curves for apple juice and cheese. Show the optimalconsumption choice. If the price of juice is £3 a bottle and the price of cheese is £6 a kilo, what is the marginalrate of substitution at this optimum? (iii) The price of cheese rises from £6 to £10 a kilo, while the price of juice remains at £3 a bottle. For aconsumer with a constant income of £3,000, show what happens to consumption of juice and cheese.Decompose the change into income and substitution effects.
Dogie Agency has three police dogs to be assigned to 3 different department stores. The cost of each dog on eachdepartment is given below Dogs SM Robinson CSI1 200 350 2702 300 250 1503 400 350 270 1. What quantitative technique can you utilize for this problem? Explain.2. Determine the minimum cost of each dog per department.
Show cells in excel with step by step using solver and the sum product function show how to calculate weighted risk Wall Street firms commonly use linear programming models to select their bond portfolios. A firm is considering the following 5 bonds: Bond Annual Return rate (%) Risk measure Bond 9.2 5 Bond 5 3 Bond 6.1 2 Bond 3.5 4 Bond 1.2 1 In the table above, “risk measure” has a value between 1 and 5 with 5 indicating the riskiest bond and 1 the least risky bond. The firm has a budget of 1 million dollars for this investment. The firm wants to decide its investments in the 5 bonds to maximize the expected return of the portfolio, subject to constraints listed below: The weighted average risk of the portfolio should not exceed 4. At least 30% of the total investment can be invested in bond 3. To diversify the portfolio, the investment on each bond should be at least 10% of the total investment. The sum of investments made in…
(1) When chef Paolo prices his speciality ‘pizza-n-all’ meal at £25, he sells 20 meals a day. When he prices his pizza meal at £22, he sells 21 meals a day. Suppose Paolo reduces his price from £25 to £22. Explain the impact of the price reduction on the revenue he receives from the first 20 meals he sells. Total Revenue – Price X Quantity. Revenue @ £25 = £25 X 20 = £500. Revenue @ £22 = £25 X 20 = £440 The impact of the price reduction is a reduction in total revenue of £60 (-12%) over the first 20 meals that he sells. Calculate the additional revenue generated from the additional meals he sells when he lowers his price to £22. Total Revenue = Price X Quantity. Total Revenue @ £22 = £22 X 21 = £462. Additional Revenue = Revenue @ £25 – revenue @ £22 = £500 - £462 = -£38. Calculate the marginal revenue Paolo receives from the 21st meal. How does that amount relate to the amounts you calculated in (a) and (b)? (3%) Suppose Paolo reduces his price from £25 to £22. Explain…
Explain in detail Consider a balanced transportation problem with the cost of transportation Cij given by: C11=10,C12=0,C13=20,C14=11C11=10,C12=0,C13=20,C14=11, C21=12,C22=7,C23=9,C24=20C21=12,C22=7,C23=9,C24=20 , C31=0,C32=14,C33=16,C34=18C31=0,C32=14,C33=16,C34=18, with the current basic feasible solution (BFS): x12=15,x22=0,x23=15,x24=10,x31=5,x34=0x12=15,x22=0,x23=15,x24=10,x31=5,x34=0. Then Select one: a)current solution is not optimal and x24x24 is a leaving variable b)None of these c)the current BFS is optimal d)current solution is not optimal and x23x23 is a leaving variable
The shadow price is calculated to be P4.00 for a less than or equal to constraint in a maximization LP problem with the optimal objective function value of z = 25, this means that a.if the coefficient of the objective function is increase by 1 then the RHS for that constraint must be increased by 4. b. if the RHS for that constraint is increased by 4 units then the optimal objective function value will become 26 c.if the coefficient of the objective function is increase by 4 then the RHS for that constraint must be increased by 1. d.if the RHS for that constraint is increased by one unit then the optimal objective function value will become 29