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- SureStep is currently getting 160 regular-time hours from each worker per month. This is actu-ally calculated from 8 hours per day times 20 days per month. For this, they are paid $9.375 per hour(51500y160). Suppose workers can change theircontract so that they only have to work 7.5 hours perday regular-time—everything above this becomesovertime—and their regular-time wage rate increasesto $10 per hour. They will still work 20 days per month. Will this change the optimal no-backloggingsolution?5) Min C = X1 + X2 + X3(Don't use excel shortcut solve manually by Simplex LPP method)Subject toX1 – 3X2 + 4X3 = 5X1 – 2X2 <= 32X2 + X3 >=0And X1, X2, X3 >= 0The Electrocomp Corporation manufactures two electrical products: air conditioners and large fans. The assembly process for each is similar in that both rquire a certain amount of wiring and drilling. Each air condtioner takes 3 hours of wiring and 2 hours of drilling. During the next production period, 240 hours of wiring time are available, and up to 140 hours of drilling time may be used. Each air conditioner sold yieds a profit of $25. Each fan assembled may be sold for a $15 profit. Formulate the best combination of air conditioners and fans that yiedls the highest profit. Use the corner point graphical approach.
- 2) Max Z = 2X1 + 3X2 (Don't use excel shortcut solve manually by Simplex LPP method)Sub toX1 + 2X2 ≥ 5010X1 + 20X2 ≤ 175And X1, X2 ≥ 0A manufacturing fi rm has discontinued production of a certain unprofi table product line.Considerable excess production capacity was created as a result. Management is consideringdevoting this excess capacity to one or more of three products: X1, X2, and X3.Machine hours required per unit areProductMachine Type X1 X2 X3Milling machine 8 2 3Lathe 4 3 0Grinder 2 0 1The available time in machine hours per week isMachine Hours per WeekMilling machines 800Lathes 480Grinders 320The salespeople estimate they can sell all the units of X1 and X2 that can be made. Butthe sales potential of X3 is 80 units per week maximum.Unit profi ts for the three products areUnit ProfitsX1 $20X2 6X3 8a. Set up the equations that can be solved to maximize the profi t per week.b. Solve these equations using the Excel Solver.c. What is the optimal solution? How many of each product should be made, and whatshould the resultant profi t be?d. What is this situation with respect to the machine groups? Would they…Grey Manufacturing Company expects sales to total 13,000 units in the first quarter, 12,000 units inthe second quarter, and 15,000 units in the third quarter of the current fiscal year. Company policyis to have on hand at the end of each quarter an amount of inventory equal to 10% of the followingquarter’s sales. Given this information, how many units should be scheduled for production in thesecond quarter?
- Chemco produces three products: 1, 2, and 3. Eachpound of raw material costs $25. It undergoes processingand yields 3 oz of product 1 and 1 oz of product 2. It costs$1 and takes 2 hours of labor to process each pound of rawmaterial. Each ounce of product 1 can be used in one ofthree ways.It can be sold for $10/oz.It can be processed into 1 oz of product 2. This requires 2 hours of labor and costs $1.It can be processed into 1 oz of product 3. This requires 3 hours of labor and costs $2.Each ounce of product 2 can be used in one of two ways.It can be sold for $20/oz.It can be processed into 1 oz of product 3. This requires 1 hour of labor and costs $6.Product 3 is sold for $30/oz. The maximum number ofounces of each product that can be sold is given in Table 23.A maximum of 25,000 hours of labor are available.Determine how Chemco can maximize profit. TAB LE 23Product Oz1 5,0002 5,0003 3,000Maximization(Don't use excel shortcut solve manually by Simplex LPP method)1) Max Z = 3X1 + 4X2Sub toX1 + X2 ≤ 202X1 + 3X2 ≤ 50And X1, X2 ≥ 0Chris LeBlanc estimates that if he does five hours of research using datathat will cost $175, there is a good chance that he can improve hisexpected return on a $10,000, one-year investment from 6% to 9%. Chrisfeels that he must earn at least $30 per hour on the time he devotes to hisresearch.a. Find the cost of Chris’s research.b. By how much (in dollars) will Chris’s return increase as a result ofthe research?c. On a strict economic basis, should Chris perform the proposed reserach?
- 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 $How much influence can the employee requirements for one, two, or three days have on the weekly sched-ule in the employee scheduling example? Explore this in the following questions:a. Let Monday’s requirements change from 17 to 25in increments of 1. Use SolverTable to see how thetotal number of employees changes.b. Suppose the Monday and Tuesday requirementscan each, independently of one another, increasefrom 1 to 8 in increments of 1. Use a two-waySolverTable to see how the total number ofemployees changes. c. Suppose the Monday, Tuesday, and Wednes-day requirements each increase by the same amount, where this increase can be from 1 to 8in increments of 1. Use a one-way SolverTableto investigate how the total number of employeeschanges.2. CRM can be classified into the two main types: operational CRM and analytical CRM. Briefly explain thetwo types and give an example for each type.3. Why does Harrahs' loyalty program work when others don't? 4. One of the key concept in CRM is the Life Time Value (LTV) of a customer. Let's assume that we are acompany that sells coffee and snack and Tom is our customer. Calculate Lifetime Value (LTV) of Tom withthe Custom LTV Equation way ( https://blog.kissmetrics.com/how-to-calculate-lifetime-value/ ) . Tom 'saverage expenditure per visit is $10 and Tom visited us 10 times per week on average. A customer usuallyremains as a customer for 3 years (i.e., the average customer lifespan is 156 weeks (3 years *52 weeks peryear) and profit margin per customer is 10% on average.