please answer within 30 minutes. Below are the production demands for the first four months of the year. What is the4 month moving average for month 5?MonthMonth 1Month 2Month 3Month 41224323626Question 49Below are the production demands for the first four months of the year. What is the3 month moving average for month 5?MonthMonth 4Month 1Month 2Month 3Production36demands112232

Forecasting is the process of estimation in which future demand is predicted based on previous or…

Below are the production demands for the first four months of the year. What is the 4 month moving average for month 5? Month Month 1 Month 2 Month 3 Month 4 5 12 24 32 36 26 Question 49 Below are the production demands for the first four months of the year. What is the 3 month moving average for month 5? Month Month 4 Month 1 Month 2 Month 3 Production 36 ? demands 11 22 32

Below are the production demands for the first four months of the year. What is the 4 month moving average for month 5? Month Month 1 Month 2 Month 3 Month 4 5 12 24 32 36 26 Question 49 Below are the production demands for the first four months of the year. What is the 3 month moving average for month 5? Month Month 4 Month 1 Month 2 Month 3 Production 36 ? demands 11 22 32

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 49P: If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60...

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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%.
The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. Can you guess the results of a sensitivity analysis on the initial inventory in the Pigskin model? See if your guess is correct by using SolverTable and allowing the initial inventory to vary from 0 to 10,000 in increments of 1000. Keep track of the values in the decision variable cells and the objective cell.
The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. As indicated by the algebraic formulation of the Pigskin model, there is no real need to calculate inventory on hand after production and constrain it to be greater than or equal to demand. An alternative is to calculate ending inventory directly and constrain it to be nonnegative. Modify the current spreadsheet model to do this. (Delete rows 16 and 17, and calculate ending inventory appropriately. Then add an explicit non-negativity constraint on ending inventory.)
The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. Modify the Pigskin model so that there are eight months in the planning horizon. You can make up reasonable values for any extra required data. Dont forget to modify range names. Then modify the model again so that there are only four months in the planning horizon. Do either of these modifications change the optima] production quantity in month 1?
For a table manufacturing company, selling price for a table is $183.00 per Unit, Variable cost is $25.00 per Unit, rent is $3,380.00 per month and insurance is $296.00 per month. Company wants to expand its business and improve the table quality, it wants to increase the selling price for a table to $254.00 per Unit, Variable cost to $43.00 per Unit, bigger area will have rent $5,235.00 per month and insurance is $362.00 per month At what point will the company be indifferent between the current mode of operation and the new option?
Finco has the following investments available:Investment A For each dollar invested at time 0, we receive $0.10 at time 1 and $1.30 at time 2. (Time 0 =now;time= 1 one year from now; and so on.)Investment B For each dollar invested at time 1, we receive $1.60 at time 2.Investment C For each dollar invested at time 2, we receive $1.20 at time 3.At any time, leftover cash may be invested in T-bills, whichpay 10% per year. At time 0, we have $100. At most, $50can be invested in each of investments A, B, and C. Formulate an LP that can be used to maximize Finco’s cash onhand at time 3.
The cost data for Evencoat Paint for the year 2019 is as follows: Month Gallons ofPaintProduced EquipmentMaintenanceExpenses January 110,000 $70,700 February 68,000 66,800 March 71,000 67,000 April 77,000 68,100 May 95,000 69,200 June 101,000 70,300 July 125,000 70,400 August 95,000 68,900 September 95,000 69,500 October 89,000 68,600 November 128,000 72,800 December 122,000 71,450 A. Using the high-low method, express the company’s maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs. Fixed cost $ Variable cost $
Chiyeyeye Enterprises Ltd sells equestrian boots and has three brands: Riding boots, work boots and casual wear. Looking ahead to the financial year ending 31st may, 2022, the directors of Chiyeyeye Enterprises ltd are faced with a budget loss of ZMW 10 000. Product Riding Boots, work boots Casual Boot Number of units 1000 1000 1000 Sales (ZMW) 12 000 9 000 15 000 Fixed costs 5 000 5 000 7 000 Variable costs 5000 5 000 7 000 Profit 2000 (1000.00) 1000 Calculate the breakeven point for each product? Calculate contribution ratio for each product 3. Can Chiyeyeye close workbooks product line? Explain
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.
The Big Bang Theory Assume the hours needed to cook a meal or done a basket of laundry are different, and they are described below: 1 MEAL 1 BASKET SHELDON 2 1 LEONARD 1/2 2 1. What is the maximum number of meals Sheldon can produce in 12 hours? What is the maximum number of laundry baskets Sheldon can complete in 12 hours? 2. Plot in a graph: Sheldon’s production possibility frontier. 3: Plot in a graph: Leonard’s production possibility frontier. 4. What is Sheldon’s opportunity cost of one meal (in terms of baskets given up)? What is his opportunity cost of one basket (in terms of meals given up)? 5. Does Leonard have an absolute advantage in producing both meals and baskets? 6. Who has a comparative advantage in cooking? 7. Suppose each person has 12 hours for the two tasks in a week, and suppose both Sheldon and Leonard each spend 6 hours on cooking and 6 hours on laundry. Consider an offer from Leonard to Sheldon: do 3 baskets of laundry for me each week, and I’ll cook you 2…
StockCo is considering five investments. The net present value (NPV) and capital require-ments over the next two years are summarized as follows:Net Present Capital Requirements ($)Value ($) Year 1 Year 2Investment 1 4,000 2,500 1,000Investment 2 6,000 2,000 3,500Investment 3 10,000 6,500 2,500Investment 4 7,000 5,000 1,500Investment 5 2,500 1,000 1,000Capital funds available for year 1 and year 2 are $7,500 and $5,500 respectively. In addition,StockCo needs to satisfy the following requirements:•StockCo can invest in at most three investments.•Investment 2 or 3 must be invested but not both.•If Investments 1 and 5 must be invested, they must be invested simultaneously.•If StockCo invests in investment 2, they must also invest in investment 4.a) Formulate an Integer Programming that will maximize the NPV of Stockco from allinvestments.b) Solve the problem by using Excel Solver. Show the optimal solution and optimal value in your printouts.