A manufacturer produces both widgets and gadgets. Widgets generate a profit of $50 each and gadgets have a profit margin of $40 each. To produce each item, a setup cost is incurred. This setup cost is $300 for widgets and $400 for gadgets. Widgets consume 5 units of raw material A and 4 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Each day, the manufacturer has 600 units of each raw material available. Assume that it is possible to produce fractional quantities of widgets and gadgets. Set up the problem in Excel and find the optimal solution.
Q: Prepare a Flowchart on the next page for the following: A Toronto based fulfillment organization…
A: The flow chart is the arrangement of the different steps of a process in a sequential manner. In…
Q: Brendan Quinlan and Maeve Lynch are a couple. They decided to open an Irish restaurant in Changchun,…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: Does the static beta-delta model satisfy Impatience? Prove your claim.
A: Reduce the up-front fees or offer her a commitment device, according to the beta-delta model, to…
Q: What are the five (5) essential process scheduling policy variables that must be taken into…
A: The process scheduling is the activity of the process manager. In process scheduling there is…
Q: b. Compute all possible forecasts using a five-period moving average. (Round your answers to 1…
A: Forecasting is the technique that is used to predict future trends on the basis of historical data.
Q: E F G H Consider the following job 1 TOTAL TASK DAYS UNTIL CRITICAL Estimated Days ASSEMBLY 2 3 JOB…
A: lateness is the difference of flowtime and due date FCFS assigns task as per the order they come…
Q: What are the three factors to consider while selecting an internet package?
A: Internet has become the necessity of everyday life. However, every individual or household has a…
Q: 1. For what type of products Customization, also known as Adaptation or Multidomestic strategy, is…
A: Product differentiation is described as the strategy that includes the development and manufacture…
Q: As an aspiring supply chain management scholar, one should be able to distinguish between…
A: Procurement definition:- The act of buying, renting, or otherwise obtaining property for use.…
Q: ?Which one of the following is correct regarding organization sustaining activities They may be…
A: Organization-sustaining activities can be stated as those activities that are taken to handle or…
Q: Activity Name Description or Instruction Please calculate the VCC, VFD, TVFD for this imported…
A: The detailed solution is given in Step 2.
Q: List and describe the information systems serving each of the major functional areas of a business.
A: Business is full of risk and uncertainty. To move to growth every business need to deal with…
Q: How does public policy affect ( either positive or negative) students or workers, and how can it be…
A: The concept of Public Policy Public policy is defined as government policies that are intended to…
Q: Discuss the relationship between Materials Requirements Planning (MRP) and distribution requirements…
A: 1. MRP (Material Requirement Planning): MRP is a term that refers to the process of planning…
Q: You are using P Chart for a process for determining the proportion of customers who complete their…
A: Given: Days No. of Defective items Sample size Monday 5 50 Tuesday 7 50 Wednesday 9 50…
Q: While interactive marketing provides more precision in reaching your target customer it often costs…
A: Note- Hi! Thank you for the question As per the honour code, We’ll answer the first question since…
Q: What is your conflict style? Describe a conflict you’ve experienced in which your conflict-handling…
A: Conflict management can be stated as the approach to handling conflicts or disputes and…
Q: Scenario: You are a member of a project team that is building an app that will inform your of the…
A: Project management is all about managing a project or leading a project to accomplish the goals of a…
Q: Define Third party logistics firms? Discuss its working procedure? ( 400 words ) Please do fast ASAP…
A: In a general enterprise sense, logistics is the direction of the flow of things within the center of…
Q: Case Scenario As a recent pharmacy graduate, you have been working at a high-volume, large-chain…
A: According to my opinion pharmacy manager is a drug specialist who additionally supervises the…
Q: <. FROM T. I 13 Paragraph Styles A company produces its automobile model in three plants located in…
A: Transportation problem becomes transshipment if there exist intermediate points in between the…
Q: Briefly describe what is location planning and why it is an important concept for operation…
A: To be determined: what is location planning and why it is an important concept for operation…
Q: Give some reasons for the poor decision making In the organisation.
A: Decision making is quality of an individual or a leader to make a decision in a situation where the…
Q: Given the following cost information, solve for the optimal transportation cost: Use MODI Method…
A: solution using VAM
Q: Can you give me some examples of how the differences between project management and software project…
A: Project management:- Project management is an organizational process that directs a project from…
Q: Don's Hardware uses a Periodic Order System to place once monthly orders for the majority of the…
A: In Periodic review method, we order for an amount (Q) equal to the target inventory level (TI),…
Q: What exactly is configuration management, and why is it so crucial
A: Configuration management:- It is a kind of system engineering process that was used to maintain the…
Q: Accompany makes two products (1&2) each product requires time on two machines (A&B). specification…
A: Product A Product B Processing time on machine A 2 2 Processing time on machine b 1 2…
Q: recommended actions by managers when dealing with Systems Risks?
A: Management is the process of administering an organization whether it is a profit, non-profit or…
Q: What are the advantages and disadvantages of using a manual guest check system to control revenue…
A: A control system is a system that controls the output to produce the desired response.A control…
Q: What is the best way to use a spreadsheet to plan capacity?
A: A spreadsheet is a computer program that allows you to compute, organize, analyze, and save data in…
Q: Large trucks are an important piece of the logistics chain. However, there were 333,000 large truck…
A: given, Large trucks are an important piece of the logistics chain. However, there were 333,000 large…
Q: 11-27 General Foundry’s project crashing data are shown in Table 11.9. Crash this project to 13…
A: Given data is
Q: In a metropolitan area, 45,000 people want to travel from the city suburbs to the city center. To do…
A: As per the given question details, x1 = Number of people drive to travel from city suburbs to the…
Q: Sales are 30 000 units in September of 2021. The seasonal index for the month of September is 0.75.…
A: The computing method of seasonal adjustment was simple and easy and can lend in to spreadsheets to…
Q: Analyze the TWO (2) opportunities of the One-Belt One-Road Initiative.
A: The Belt and Road Initiative (BRI) is a massive project aimed at enhancing regional cooperation and…
Q: Reliability prediction is a design-assist process by which the reliability characteristics of a…
A: Reliability Predictions are - the most widely accustomed methods in reliability analysis. The main…
Q: The term facework (giving or saving face) is used to describe the verbal and nonverbal strategies…
A: Kindly find the solutions to both the questions in the following steps.
Q: The bottom-up estimating technique encompasses the following basic steps. Choose 4 of the 5…
A: In the bottom-up estimating approach the work is estimated at the lowest possible detail. The…
Q: Required informatioh There are a number of techniques to help people stop smoking, but their cost…
A: given,
Q: As a manager of an organisation, you may be involved in strategic planning for your organisation. As…
A: SWOT analysis consists of strengths, weaknesses, opportunities, and threats. This analysis is a…
Q: Suppose we are deciding which projects to implement in the upcoming year. Let's represent each…
A: The decision variables given are P1, P2, and P3. If project 1 is selected, then P1 will take the…
Q: FRITO-LAY'S QUALITY-CONTROLLED POTATO CHIPS Frito-Lay, the multi-billion-dollar snack food giant,…
A: Find the Given details below: Given details: Samples Observations 1 2 3 4 1 1.98 2.11 2.15…
Q: Normal Time Crash Time Immediate Predecessor(s) Activity Normal Cost (S) Crash Cost () (days) (days)…
A: The network diagram is a visual representation of the project activities and their durations of…
Q: What are some potential problems with the top-down and bottom-up budgeting processes? What are some…
A: Top-Down - This method is based on estimating the costs of higher-level activities first, then…
Q: A normally distributed quality characteristic with specifications 49 4.0 is measured and Xbar and R…
A: Specifications limits can be stated as the values between which the goods or services should…
Q: 17.6. Decenture has four new IT hires available for assignment to ERP implementation projects. Their…
A:
Q: What does it mean to reap the benefits of a process, and why is it vital to reap the benefits of a…
A: When the benefits of a process outcome are further processed, analyzed, etc. in order to gain more…
Q: Chris Sandvig Irrigation, Inc., has summarized theprice list from four potential suppliers of an…
A:
Q: The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers…
A:
A manufacturer produces both widgets and gadgets. Widgets generate a profit of $50 each and gadgets have a profit margin of $40 each. To produce each item, a setup cost is incurred. This setup cost is $300 for widgets and $400 for gadgets. Widgets consume 5 units of raw material A and 4 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Each day, the manufacturer has 600 units of each raw material available. Assume that it is possible to produce fractional quantities of widgets and gadgets.
Set up the problem in Excel and find the optimal solution.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
- 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?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%.1. Suppose you are going on a weekend trip to a city that is d miles away. Develop a model that determines your round-trip gasoline costs. What assumptions or approximations are necessary to treat this model as a deterministic model? Are these assumptions or approximations acceptable to you? 2. Suppose that a manager has a choice between the following two mathematical models of a given situation: (a)a relatively simple model that is a reasonable approximation of the real situation, and (b)a thorough and complex model that is the most accurate mathematical representation of the real situation possible. Why might the model described in part (a) be preferred by the manager?
- Write “True” if the statement is true and write “False” if the statement is false.1. With the emergence of the information era, companies need to create value from theirintangible assets as well as their physical and financial assets.2. The primary purpose of balanced scorecard is to obtain increased operating profits for thecurrent year.3. To achieve success, it is important to set non-financial objectives as well as financial objectives.4. Different value propositions lead to different balanced scorecards.5. A properly constructed balanced scorecard tells the story of a business unit’s strategy.6. Strategy is about selecting the set of activities in which the organization will excel to create asustainable difference in the market.7. The vision and mission statement set the general direction for the organization.8. To create the balanced scorecard, first measures are identified and then translated intoobjectives.9. One valuable measure for the customer perspective of the balanced…I need help with d, e, and f. I already did a, b, and c. You do not need to use Solver or solve the problems. Just respond to the problem questions using the outputs provided in the problem. A picture in the attach image is a complete question. 1. Recall the Innis Investments problem (Chapter 2, Problem 39). Letting S= units purchased in the stock fund M= units purchased in the money market fund leads to the following formulation: Min 8S + 3M s.t. 50S + 100M≤ 1,200,000 funds available 5S + 4M≥ 60,000 Annual income M≥ 3,000 Units in money market S, M≥ 0 a. What is the optimal solution, and what is the minimum total risk? Already did this part b. Specify the objective coefficient ranges. Already did this part c. How much annual income will be earned by the portfolio? I also did this part too d. What is the rate of return for the portfolio? e. What is the dual value for the funds available constraint? f. What is the marginal rate of…Suppose you are going to receive $20,000 per year forfive years. The appropriate interest rate is 7 percent.a. What is the present value of the payments if they are in the form of an ordinaryannuity? What is the present value if the payments are an annuity due?b. Suppose you plan to invest the payments for five years. What is the future valueif the payments are an ordinary annuity? What if the payments are an annuitydue?c. Which has the highest present value, the ordinary annuity or annuity due? Whichhas the highest future value? Will this always be true?
- 3. Using the following table, perform ALL FIVE of the techniques for Decision Making under Uncertainty: Maximax, Maximin, Hurwicz Realism (α = 0.4), LaPlace and Minimax Regret. Show the work on excel file. SIZE OF FIRST STATION GOOD MARKET FAIR MARKET POOR MARKET ($) ($) ($) Small 50,000 20,000 -10,000 Medium 80,000 30,000 -20,000 Large 100,000 30,000 -40,000 Very large 300,000 25,000 -160,000Which of the following statements is correct regarding the EMH form? Select one: None of the answers are correct If the market is weak-form efficient, then it is also semistrong and strong-form efficient. If the market is semistrong form efficient, then it is also strong form efficient If a market is strong-form efficient, it is also semistrong and weak form efficient If the market is strong-form efficient, it is also semistrong but not weak-form efficientA)What would the model be if the minimum calories were 450? B)What happens to the model if the total Liquid value is 3? C)What happens in the model if the coefficient of the objective function of peanut butter is 8? D)What should be the coefficient of the objective function for the cracker to be the basic variable? None of above less than 5.50 less than 1.43 less than 7.76 less than 6.56 E)What is the objective function value? Please donot provide solution in image format and it should be in step by step format and provide solution asap
- Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below:Year XT PC Sales Revenue($’000,000)All Industry PC Sales Revenue($’000,000,000)1 2.4 4.62 5.9 8.63 15.5 10.74 27.8 14.85 35.9 18.56 38.1 19.4Required:A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect).B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion? C. Advise management at Integrated Products Corporation (IPC) which of the twosales estimates from parts A and B above they should use. Justify your…Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below:Year XT PC Sales Revenue($’000,000)All Industry PC Sales Revenue($’000,000,000)1 2.4 4.62 5.9 8.63 15.5 10.74 27.8 14.85 35.9 18.56 38.1 19.4Required:A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect).B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion?You have recently won the super jackpot in the WashingtonState Lottery. On reading the fine print, you discover that you have the following twooptions:a. You will receive 31 annual payments of $250,000, with the first payment beingdelivered today. The income will be taxed at a rate of 28 percent. Taxes will bewithheld when the checks are issued.b. You will receive $530,000 now, and you will not have to pay taxes on this amount.In addition, beginning one year from today, you will receive $200,000 each yearfor 30 years. The cash flows from this annuity will be taxed at 28 percent.Using a discount rate of 7 percent, which option should you select?