GRAPHICAL METHOD: A store wants to liquidate 200 of its shirts and 100 pairs of pants from last season. They have decided to put together two offers, A and B. Offer A is a package of one shirt and a pair of pants which will sell for $30. Offer B is a package of three shirts and a pair of pants, which will sell for $50. The store does not want to sell less than 20 packages of Offer A and less than 10 of Offer B. How many packages of each do they have to sell to maximize the money generated from the promotion? Attach the PDF or JPEG file of the solution made. *
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
- Exercise 4 a) Write the objective function of this LP.b) Write the constraint of the basic element Y.c) Write the constraint that expresses"the factional contributions from each mine must add up to 1."d) What is the optimal fraction of a ton to be chosen from mine 4?e) To make the optimal fraction of a ton to be chosen from mine 4 non-zero, how should the cost per ton of ore from mine 4 change?f) If the minimum requirement amounts of basic element X increases to 7 tons, how much does the cost of a feasible blend (i.e., the value of the objective function) become?g) If the minimum requirement amount of basic element Z decreases to 25 tons, how much does the cost of a feasible blend (i.e., the value of the objective function) become?A publisher has a fixed cost of $250,000 associated with the production of a college mathematics book. The contribution to profit and fixed cost from the sale of each book is $6.25. (a) Determine the number of books which must be sold in order to break even. (b) What is the expected profit if 50,000 books are sold?Question: B) Identify The Economic Order Quanitity And Consider The Implications For Making An Error In Calculating Economic Order Quanitity. This problem has been solved! See the answer b) Identify the economic order quanitity and consider the implications for making an error in calculating economic order quanitity.
- I need a detailed explanation and assistance to solve this proble: A client asks his stockbroker to invest $100,000 for maximum annual income, subject to the three conditions: Spread the investment over no more than three different stocks. Put no more than 40 percent of the money into any one stock Put a minimum of $10,000 into an oil stock. The broker has identified three stocks for investment. Their estimated annual returns per share and price per share are shown in the following table: Stock Price per Share Estimate Annual Return per Share Oil $120 $11 Auto $52 $4 Pharmaceutical $18 $2 The client wishes to use LP to determine the optimal number of shares to buy for each stock, so as to maximize the total estimated return. a) Write down the decision variables. b) Write down the optimization statement for the objective function. c) Write down the constraints.Problems LU - 2 Wally Beaver won a lottery and will receive a check for $2,500 at the beginning of each 6 months for the next 6 years. If Wally deposits each check into an account that pays 6%, how much will he have at the end of the 6 years?Ronald and Son, P.A., is an auditing firm that conducts both financial and operational audits. Ronald can conduct 90 financial audits (FAs) per year if he spends full time on just FAs, or 180 operational audits (OAs) per year full time, or any linear combination of both. (Note: A linear combination means that because the capacity required for 1 FA is the same as that for 2 OAs (90 to 180 ratio), Ronald can conduct such combinations as 89 FAs plus 2 OAs, or 88 FAs plus 4 OAs, and so on.) Son processes the reports made by Ronald. Son can prepare 180 financial audit reports or 150 operational audit reports per year, or any linear combination thereof. The office staff finalizes the reports submitted by Son. They can handle no more than 160 reports of any kind, per year. Ronald and Son have calculated that to keep their association solvent, they must produce at least 30 FAs and 50 OAs each year. The profit from each FA has averaged $720 in the past and for each OA has been about $650. How…
- Variable cells Cell Name Final Value Reduced Cost Objective Coefficient Allowable Increase Allowable Decrease $B$6 Activity 1 3 0 30 23 17 $C$6 Activity 2 6 0 40 50 10 $D$6 Activity 3 0 –7 20 7 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H. Side Allowable Increase Allowable Decrease $E$2 Resource A 20 7.78 20 10 12.5 $E$3 Resource B 30 6 30 50 10 $E$4 Resource C 18 0 40 1E+30 22 Which parameter is most sensitive to an increase in its value?Please do not give solution in image format thanku Let xi = 1 if Project i is selected, i = 1,2,3,4,5; and 0 otherwise: Which answer below indicates that if Project 2 is selected, then Project 4 must be selected? Group of answer choices None of the above x2 + x4 = 1 x2 + x4 ≤ 1 x4 ≤ x2 x2 ≤ x4A car company is planning the introduction of a new electric car. There are two options for production. One is to produce the electric car at the company’s existing plant in Illinois, sharing production with its other products that are currently being produced there. If the sales of the electric car are moderate, this will work out well as there is significant capacity to produce all of the products there. However, if sales of the electric car are strong, this option would necessitate Adding a 3rd shift, which would lead to significantly higher costs. Another option is to build a new plant in Ohio. The new plant would have sufficient capacity to meet whatever level of demand for the new car. However, if sales of the new car not strong, the plant would be underutilized and less efficient. Since this is a new product, sales are hard to predict. The forecast indicates there is a 60% chance of strong sales (annual sales of 100,000), and 40% chance of moderate sales (annual sales of…