ntering variable Leaving variable
Q: A linear programming computer package is needed. Edwards Manufacturing Company purchases two…
A: Find the Given details below: Given details: Component Supplier 1 2 3 Production 1 $…
Q: Find the maximum and minimum values of the function Z = 8X1 + 5X2, subject to the following: 3X1 –…
A: The value of the objective function at each of these extreme points is as follows: Extreme…
Q: Bright Furnitures produces chairs and tables that go through M1 and M2. Making a 1 table and 1 chair…
A: The question is related to Linear Programming.The given problem is of Maximization. The details…
Q: Describe the analysis of simultaneous changes in coefficients of objective function??
A: Analyzing Simultaneous Changes in Objective Function Coefficients is a method for analysing…
Q: Tom's, Inc., produces various Mexican food products and sells them to Western Foods, a chain of…
A: Range for constraint is that range for which the optimal solution stays same and does not change…
Q: Why does this formula not function?
A: THE ANSWER IS AS BELOW:
Q: Here are statistics on order sizes of Megalith Construction Supply’s shipments of two kinds of…
A: Coefficient of the Variation = (Standard Deviation/Mean) × 100 Griders = (48 / 160 ) x 100 = 30 %…
Q: Bad simulations Explain why each of the followingsimulations fails to model the real situation…
A: Let's try to find out first, for each of these 3 given conditions - which scenarios may represent a…
Q: WHAT WLL HAPPEN IF THERE IS A CHANGE IS ONE OF THE OBJECTIVE FUNCTION COEFFICIENT? A. SLOPE OF THE…
A: Every change in the worth of a target work coefficient will lead to a changed optimal solution. When…
Q: Ana Chua, a BS Entrepreneur student observed that in their subdivision, there are only 3 water…
A: Number of Household in Sub division - 80 Number of times a household buys a mineral water in a week…
Q: What is meant by parametric linear programming
A: Linear programming technique that is used to maximize profit while minimizing cost. For cost…
Q: Each morning during rush hour, 10,000 people want to travel from New Jersey to New York City. If a…
A: Check the solution of your query below. I have provided the solution using steps to be followed for…
Q: Explain the kind of changes occur in the coefficient of a non variable while making changes in the…
A: Sensitivity analysis investigates changes in the coefficients of an ou pas explore things by changes…
Q: An electronic component manufacturer has two facilities producing a range of esistors. Facility 1…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: It has become essential for the prosperity and growth of the field of Operation Research in a…
A: Problem statement: A furniture company is producing tables and chairs for the coming week. The…
Q: A company has one machine which can be used to make product Alpha and product Beta. Each unit of…
A: Variable Formula H Hours per day 8 D Days per week 5 W H*D*60 Minutes per…
Q: an ongoing problem in managing service operations is that the selection of order qualifiers and…
A: an ongoing problem in managing service operations is that the selection of order qualifiers and…
Q: Solve this problem using the simplex method. Big Pig Game Company makes checker sets and chess…
A: Below is the solution-
Q: Which of the following is a property of all linear programming problems? alternate courses of action…
A: The question is related to Linear Programming. The properties of linear programming are as under 1.…
Q: The terms 'constraint' in linear programming means: a. Costs b. Inefficiencies c. Scarce resources…
A: This question is related to Linear Programming, it is part of Business- Operations Management…
Q: A company produces a product at two plants, 1 and 2. The unit production cost and production…
A: Given information, Production Cost Unit Capacity Plant 1(period 1) 33 7 Plant 1(period 2)…
Q: What symbol does Access use to express exponentiation? Group of answer choices ^ * ()
A: What symbol does Access use to express exponentiation? A. ^ B. * C. <> D. ()
Q: Toby’s Trucking Company determined that the distance travelled per truck per year is normally…
A: Proportion is the amount or figure which is in between and mixes of the variables. Here in this…
Q: The optimum solution is: Number of air conditioners to be produced Number of heaters to be produced…
A: Decision variables: x = Number of air conditioners producedy = Number of heaters produced…
Q: TRUE OR FALSE In a simplex maximization slack variable is added to convert the objective function…
A: Slack variables are added to convert the objective function to the equation.
Q: The American National Bus Lines is proud of its 8-week bus driver training program that it conducts…
A: The detailed solution to the question is given in the Step 2.
Q: A university is made up of five colleges: Arts and Sciences, Engineering, Business, Education, and…
A:
Q: Tom's, Inc., produces various Mexican food products and sells them to Western Foods, New Mexico.…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…
A: Given information : Non-member registered = 127 Non-member not attended = 10%…
Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…
A: Fees for the Symposium = $70 per person Rental cost for auditorium = $150 Registration processing…
Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…
A: It is not mentioned as to if, only non-members will be considered for the calculations. Since each…
Q: What are the benefits of linear programming models
A: Each organization's operations and procedures require detailed planning. The linear programming…
Q: Duluth Electronics makes two types of scooters: Falcon and Hawk. The Falcon model has a lighter…
A: Given Information: The hawk frames availability is only 280. The linear programming problem can be…
Q: may start at 12:01 A.M., 4:01 A.M., 8:01 A.M., 12:01 P.M., 4:01 P.M., and 8:01 P.M. Thus, the vari-…
A: The excel model of linear programming contains the formulas used in the mathematical model. Based on…
Q: TRUE OR FALSE The simplex method is a linear programming procedure designed to handle only three…
A: The simplex technique is the often used method for solving linear programming problems.
Q: The model for a _____ resembles the hierarchical model in many respects.
A: Network database
Q: Irwin’s sells a particular model of fan, with most of the sales being made in thesummer months.…
A: Given data, Total Number of Fans = 10 Total number of sales = 30, 50,30,60,10,40,30,30,20,40 Cost…
Q: Use simplex method for linear programming
A: Linear programming is a kind of optimization method for project selection. Linear programming aims…
Q: Solve this problem using the simplex method. Super Speedy Bike Company makes 3-speed and 10-speed…
A: X = Number of days factory X should be operated Y = Number of days factory Y should be operated The…
Q: Define the different components (y, x, a, and b) of a linearregression equation
A: Linear regression is a method which explains us the relationship between two variables. This method…
Q: TRUE OR FALSE In Simplex Method, the pivot element should be changed to 1 in the formulation of the…
A: The simplex method is nothing but the systematic approach or procedure for checking or testing the…
Q: [McDonalds] As displayed in the picture, McDonald's employees place their different products in…
A: McDonald's ought to zero in on working on the nature of its center items. Privately sourced fixings,…
Q: A linear programming computer package is needed. Edwards Manufacturing Company purchases two…
A: Decision Variable: Suppose-Xij be the no. of units of component i purchased by the company from…
Q: Explain the importance of the Hamada equation.
A: The Hamada equation differentiates investment risk from market risks during a leveraged…
Q: All of the following statements about a redundant constraint are correct EXCEPT a redundant…
A: A redundant constraint is a constraint which is easy to remove from the linear system without making…
Q: Water prices are normally set according to the average cost of providing water Group of answer…
A: Pricing is a mechanism in which an organization or an entity sets the cost or the price at which it…
Q: How can we execute the Solver and interpret results from the reports provided by the program
A: Let’s take an example to understand how to execute solver and interpret the results provided by the…
OPEC
Explain the significance of the following variables with reference to linear programming problem:
- Entering variable
- Leaving variable
Step by step
Solved in 2 steps
- You want to take out a 450,000 loan on a 20-year mortgage with end-of-month payments. The annual rate of interest is 3%. Twenty years from now, you will need to make a 50,000 ending balloon payment. Because you expect your income to increase, you want to structure the loan so at the beginning of each year, your monthly payments increase by 2%. a. Determine the amount of each years monthly payment. You should use a lookup table to look up each years monthly payment and to look up the year based on the month (e.g., month 13 is year 2, etc.). b. Suppose payment each month is to be the same, and there is no balloon payment. Show that the monthly payment you can calculate from your spreadsheet matches the value given by the Excel PMT function PMT(0.03/12,240, 450000,0,0).The method for rating teams in Example 7.8 is based on actual and predicted point spreads. This method can be biased if some teams run up the score in a few games. An alternative possibility is to base the ratings only on wins and losses. For each game, you observe whether the home team wins. Then from the proposed ratings, you predict whether the home team will win. (You predict the home team will win if the home team advantage plus the home teams rating is greater than the visitor teams rating.) You want the ratings such that the number of predictions that match the actual outcomes is maximized. Try modeling this. Do you run into difficulties? (Remember that Solver doesnt like IF functions.) EXAMPLE 7.8 RATING NFL TEAMS9 We obtained the results of the 256 regular-season NFL games from the 2015 season (the 2016 season was still ongoing as we wrote this) and entered the data into a spreadsheet, shown at the bottom of Figure 7.38. See the file NFL Ratings Finished.xlsx. (Some of these results are hidden in Figure 7.38 to conserve space.) The teams are indexed 1 to 32, as shown at the top of the sheet. For example, team 1 is Arizona, team 2 is Atlanta, and so on. The first game entered (row 6) is team 19 New England versus team 25 Pittsburgh, played at New England. New England won the game by a score of 28 to 21, and the point spread (home team score minus visitor team score) is calculated in column J. A positive point spread in column J means that the home team won; a negative point spread indicates that the visiting team won. The goal is to determine a set of ratings for the 32 NFL teams that most accurately predicts the actual outcomes of the games played.Although the normal distribution is a reasonable input distribution in many situations, it does have two potential drawbacks: (1) it allows negative values, even though they may be extremely improbable, and (2) it is a symmetric distribution. Many situations are modelled better with a distribution that allows only positive values and is skewed to the right. Two of these that have been used in many real applications are the gamma and lognormal distributions. @RISK enables you to generate observations from each of these distributions. The @RISK function for the gamma distribution is RISKGAMMA, and it takes two arguments, as in =RISKGAMMA(3,10). The first argument, which must be positive, determines the shape. The smaller it is, the more skewed the distribution is to the right; the larger it is, the more symmetric the distribution is. The second argument determines the scale, in the sense that the product of it and the first argument equals the mean of the distribution. (The mean in this example is 30.) Also, the product of the second argument and the square root of the first argument is the standard deviation of the distribution. (In this example, it is 3(10=17.32.) The @RISK function for the lognormal distribution is RISKLOGNORM. It has two arguments, as in =RISKLOGNORM(40,10). These arguments are the mean and standard deviation of the distribution. Rework Example 10.2 for the following demand distributions. Do the simulated outputs have any different qualitative properties with these skewed distributions than with the triangular distribution used in the example? a. Gamma distribution with parameters 2 and 85 b. Gamma distribution with parameters 5 and 35 c. Lognormal distribution with mean 170 and standard deviation 60
- The terms 'constraint' in linear programming means: a. Costs b. Inefficiencies c. Scarce resources d. Dependent VariablesUse simplex method for linear programming. Show solution for each iteration table. Problem: A small firm that assembles computers is about to start production of two new types of personal computers. Each type will require assembly time, inspection time, and storage space. The amount of each of these resources that can be devoted to the production of the computers is limited. The manager of the firm would like to determine the quantity of each computer to produce in order to maximize the profit generated by sales of these computers. In order to develop a suitable model of the problem, the manager has met with design and manufacturing personnel. As a result of those meetings, the manager has obtained the following information: Type 1 Type 2 Profit per unit $60 $50 Assembly time per unit 4 hours 10 hours Inspection time per…TRUE OR FALSE In a simplex maximization slack variable is added to convert the objective function to equation.
- This condition arises when there is a tie in the values used to determine which variable will enter the solution next. a. infeasibility b. unboundedness c. multiple optimal solutions d. degeneracyLINGO SOFTWARE Consider a production-mix problem where we are concerned with what mix of four products we should produce during the upcoming week. For each product, each unit produced requires a known amount of production time on each of the three machines. Each machine has a certain number of hours of production time available per week. Each product provides a certain profit per unit produced. Figure 3S1.2 shows three types of data: machine-related data, product-related data, and data related to combinations of a machine and product. The objective is to determine how much to produce for each product so that total profit is maximized while not exceeding the limited production capacity of each machine. Requirement: Solve this problem in LINGO software.Toby’s Trucking Company determined that the distance travelled per truck per year is normally distributed, with a mean of 50 thousand miles and a standard deviation of 12 thousand miles. What proportion of trucks can be expected to travel between 34 and 50 thousand miles in a year? What percentage of trucks can be expected to travel either less than 30 or more than 60 thousand miles in a year? How many miles will be travelled by at least eighty percent of the trucks