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- Lemingtons is trying to determine how many Jean Hudson dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with mean 400 and standard deviation 100. The contract between Jean Hudson and Lemingtons works as follows. At the beginning of the season, Lemingtons reserves x units of capacity. Lemingtons must take delivery for at least 0.8x dresses and can, if desired, take delivery on up to x dresses. Each dress sells for 160 and Hudson charges 50 per dress. If Lemingtons does not take delivery on all x dresses, it owes Hudson a 5 penalty for each unit of reserved capacity that is unused. For example, if Lemingtons orders 450 dresses and demand is for 400 dresses, Lemingtons will receive 400 dresses and owe Jean 400(50) + 50(5). How many units of capacity should Lemingtons reserve to maximize its expected profit?Why Modifying the objective function is required?In problems involving maximization and minimization, what is the objective function? States intended outcome in equation form Incorporates constraint of maximum budget Lists set of potential restrictions on the solution Cites constraints to ensure objectivity
- (Linear Objective Function and Optimization Application) On a special occasion, renowned electronic giant retailer Best Buy sold a variety of TVs at a discounted prices or on huge sales. Task-1: Write down an appropriate equation for the net profit function, P in order to account for the net profit made by Best Buy after selling: (i) x-number of televisions (TVs) that made $250 profit on the sale of each SONY TVs (ii) y-number of televisions that made $10,500 profit on the sale of each PHILIP TVs respectively, in that event. Task-2: Profit margin, P as discussed in Task-1 was subject to the following constraints applied to the products. a. Maximum cost price was $5000 to manufacture each piece of SONY TVs and $10,000 to manufacture each piece of PHILIP TVs respectively. All TVs were manufactured at a maximum cost of $10 x106 as given in Plot No 1: Plot No. 1: ($5000 x + $ 10000y) ≤ $10 million; Graph the Plot No. 1 up to the scale in a paper. b. 10 and 150 employees worked to…Patz Company produces two types of machine parts: Part A and Part B, with unit contribution margins of $400 and $800, respectively. Assume initially that Patz can sell all that is produced of either component. Part A requires two hours of assembly, and B requires five hours of assembly. The firm has 400 assembly hours per week. What if market conditions are such that Patz can sell at most 100 units of Part A and 80 units of Part B? Express the objective function with its associated constraints for this case. Objective function: Max Z = $400 A + $800 B Assembly-hour constraint fill in the blank 7 A + fill in the blank 8 B ≤ fill in the blank 9 Demand constraint for Part A A ≤ fill in the blank 10 Demand constraint for Part B B ≤ fill in the blank 11 Identify the optimal mix and its associated total contribution margin.Component A $fill in the blank 12 units Component B $fill in the blank 13 units Total contribution $fill in the blank 14Need help only with finding the optimal solution
- what is the dual equivalent and the final tableau of the given primal linear programming model?Min Y₀ = 10Y₁ + 8Y₂s.t.Y₁ + 2Y₂ ≥ 52Y₁ - Y₂ ≥ 12Y₁ + 3Y₂ ≥ 4Y₁ ≥ 0, Y₂ is unrestrictedprove or disprove the complementary slackness theorem.a. What is the orrect graph that shows the feasible region for the problem. b. What are the extreme points of the feasible region? c. What is the correct graph that shows the optimal solution for the problem(a) Mary is planning to do two part-time jobs, one in the retail store ABC and the other in the restaurant LMNO, to earn tuition. She decides to earn at least $120 per week. In ABC, she can work 5 to 12 hours a week, and in LMNO, she can work 4 to 10 hours a week. The hourly wages of ABC and LMNO are $6 per hour and $8 per hour, respectively. When deciding how long to work in each place, Mary hopes to make a decision based on work stress. According to reviews on the Internet, Mary estimates that the stress levels of ABC and LMNO are 1 and 2 for each hour of working, respectively (stress levels are between 1 and 5; a large value means a high work stress which may cause work and life imbalance). Since stress accumulates over time, she assumes that the total stress of working in any place is proportional to the number of hours she works in that place. How many hours should Mary work in each place per week? State verbally the objective, constraints and decision variables. Then formulate…
- A convenience store manager earns a base salary plus a small bonus of $190 for each of ten different possible monthly milestones he meets. If the manager meets a milestone, the full bonus is paid. However, if the manager falls even one penny short, none of that bonus is paid. Suppose each of the ten milestones requires 40 hours of effort to meet, and that the manager has 160 hours of effort to allocate to work each month. Question: In order to maximize the total monthly bonus, the manager should allocate___hours toward meeting each of ___ milestones and ___hours toward meeting each of the remaining___ sales milestones. There are 4 blanks to fill for this questionWhat is meant by parametric linear programming ?Suppose a certain manufacturing company produces connecting rods for 4- and 6-cylinder automobile engines using the same production line. The cost required to set up the production line to produce the 4-cylinder connecting rods is $2,200, and the cost required to set up the production line for the 6-cylinder connecting rods is $3,300. Manufacturing costs are $12 for each 4-cylinder connecting rod and $16 for each 6-cylinder connecting rod. Hawkins makes a decision at the end of each week as to which product will be manufactured the following week. If a production changeover is necessary from one week to the next, the weekend is used to reconfigure the production line. Once the line has been set up, the weekly production capacities are 6,000 6-cylinder connecting rods and 8,000 4-cylinder connecting rods. Let x4 = the number of 4-cylinder connecting rods produced next week x6 = the number of 6-cylinder connecting rods produced next week s4 = 1 if the production line is set up to…