Minimization Case. Min C = X1 + X2 + X3 Subject to X1 – 3X2 + 4X3 = 5 X1 – 2X2 <= 3 2X2 + X3 >=0 And X1, X2, X3 >= 0
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Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Minimization Case.
Min C = X1 + X2 + X3
Subject to
X1 – 3X2 + 4X3 = 5
X1 – 2X2 <= 3
2X2 + X3 >=0
And X1, X2, X3 >= 0
Step by step
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- 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%.Use two phase method for solving Maximize: Z = 4X1 + 3X2 + 9X3 Subject to: 2X1 + 4X2 + 6X3 ≥ 15 6X1 + X2 + 6X3 ≥ 12 X1, X2, X3 ≥ 01.) Objective Function: Maximize Z = 60X₁ +50X₂ Subject to Assembly 4X₁ + 10X ₂ ≤ 100 hours Inspection 2X₁ + 1X₂ ≤ 22 hours Storage 3X ₁ + 3X₂ ≤ 39 cubic feet X₁, X₂ ≤ 0Solve the following completely by graphical method:a) corner point methodb) iso profit line 2.) Suppose, 240 acres of land available.Profit: $40/acres corn: $30/acre oats Have 320 hours of labor available.Corn takes 2 hours of labor per acre of land; however, Oats requires 1 hour of labor per acre of land. Problem: How many acres of each should be planted to maximize profit? a) Formulate the problem.b) Solve the problem using graphical method (corner point solution) and Iso profit method.
- INCORRECT FORFormulate a linear programming model that can be used to determine the pounds of Brazilian Natural and Colombian Mild that will maximize the total contribution to profit. (Let BR = pounds of Brazilian beans purchased to produce Regular, BD = pounds of Brazilian beans purchased to produce DeCaf, CR = pounds of Colombian beans purchased to produce Regular, and CD = pounds of Colombian beans purchased to produce DeCaf.) Max 2.033BR+2.582BD+1.868CR+2.418CD INCORRECT Pounds of Regular BR+CR≤900 INCORRECT Pounds of DeCaf BD+CD≤400 INCORRECTUse the two – phase simplex method Minimize Ζ = 3x1 + 2x2 + x3 Subject to x1 + 4x2 + 3x3 ≥ 50 2x1 + x2 + x3 ≥ 30 −3x1 − 2x2 – x3 ≤ −40 X1 , x2 , x3 ≥ 0For the products A, B, C, and D, which of the following could be a linear programming objective function? Select one: a. Z = 1A + 2BC + 3D b. Z = 1A + 2AB + 3ABC + 4ABCD c. Z = 1A + 2B + 3C + 4D d. Z = 1A + 2B/C + 3D
- Consider the following problem: Maximize z = 2x1 + 2x2 + 4x3 subject to: 2x1 + x2 + x3 <= 2 3x1 + 4x2 + 2x3 >= 8 x1, x2, x3 >= 0 (a) Show that Phase I will terminate with an artificial basic variable at zero level (you may use TORA for convenience). (b) Remove the zero artificial variable prior to the start of Phase II, then carry out Phase II iterations.Consider the linear program max 4y_{1} + 5y_{2} s.t. - y_{1} + y_{2} <= 4 y_{1} - y_{2} <= 10 y_{1}, y_{2} >= 0 (a) Show graphically that the model is unbounded.Type the linear program, optimal solution, and objective function value in a word document. Submit your excel file A company produces three different types of wrenches: W1, W2, and W3. It has a firm order for 2,000 W1 wrenches, 3,750 W2 wrenches, and 1,850 W3 wrenches. Between now and the delivery date, the company has only 17,500 fabrication hours and 1,600 inspection hours. The time that each wrench requires in each department is shown in the table for this problem. Also shown are the costs to manufacture the wrenches in-house and the costs to outsource them. For labelling considerations, the company wants to manufacture in-house at least 60% of each type of wrench that will be shipped. How many wrenches should be outsourced? What will be the total cost to satisfy the order? Wrench Fabrication Hours Inspection Hours In-House Cost Outsource Cost W1 2.25 0.25 $17.00 $19.00 W2 3.25 0.30 $19.00 $21.00 W3 3.75 0.45 $22.00 $24.00
- Max Z = 3X1 + 4X2 Sub to: X1 + X2 ≤ 20 2X1 + 3X2 ≤ 50 And X1, X2 ≥ 0 (SOLVE MANUALLY USING SIMPLEX METHOD PLEASE DON'T USE SHORTCUTS)Minimization function is Z=8x1+12x2Subject to: 5x1+2x2≥204x1+3x2≥24X2≥22) Max Z = 2X1 + 3X2 (Don't use excel shortcut solve manually by Simplex LPP method)Sub toX1 + 2X2 ≥ 5010X1 + 20X2 ≤ 175And X1, X2 ≥ 0