Q3 Table Q3(i), Table Q3(ii) and Table Q3(iii) show the data provided by a Tababa company involving factories and warehouses. Evaluate the given data by using transportation method and propose the best overall supply demand pairs solution to be recommended to the company. Compute the cost of the proposed solution. Factory A R 4.5 S 10 T 8.8 U 12 Table Q3(1): Transportation cost data (RM) Warehouse S T U B 6.5 7.6 9 11 C 5.5 10.2 6.7 12.5 Capacity 1000 + 10(0) 2500 + 10(0) 2000 + 10(0) 3000 + 10(0) E F D 7.5 8.5 8.6 9.5 Table Q3(ii): Factory capacity and manpower data Factory Total Manpower R E 4.7 Demand 700 + 10(10) 2500 + 10(10) 4.6 7.1 10.3 1500 + 10(10) 2000 + 10(10) 800 1000 Table Q3(iii): Warehouse demand data Warehouse A B C D 110 260 210 310 F 4.8 11.5 7 13
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- Redstone Clayworks, Inc. is located in Sedona, Arizona and manufactures clay fire pits for patios. They are one of about two dozen firms around the world that manufacture and sell clay fire pits for retailers such as Home Depot, Lowe’s, Front Gate, and other upscale home product chains. There is virtually no product differentiation. A clay fire pit is a clay fire pit. Assume that the world market demand and supply curves for clay fire pots intersects at $300 per unit. 1. If Redstone wishes to maximize profit margin, how many units should it produce? 2. What level of output should the manager of Redstone choose to produce? Explain your choice in at least 100 words.The demand equation for the Drake GPS Navigator is x + 4p − 1225 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation x − 21p + 1000 = 0, where x is the quantity the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators. equilibrium quantity units equilibrium price $Lovely Apparel must decide how many sets of assorted summer wear to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands. Demand Order Size Low Medium High 1 set 12 15 15 2 sets 9 25 35 3 sets 6 35 60 What decision should be made by the optimist? What decision should be made by the conservative? What decision should be made using minimax regret? NOTE: SHOW COMPLETE STEP-BY-STEP SOLUTION
- The government of Australia has embarked on various policies such as Job Keeperand the provision of subsidies to firms in order to reduce the severity of COVID 19 on theeconomy. Suppose the money supply expands such that the Reserve Bank predictsthat the economic expansion is not sustainable.Use two diagrams one for the money market and another for the goods and services(Aggregate Demand and Aggregate Supply model), to explain the policy that theReserve Bank can adopt in order to overcome the effect of increasing the money supplyon the economy.Assume that: the money supply increased from the equilibrium of AUD 40 billion to AUD 70billion Interest was reduced to the interest rate of 1.5% as part of the stimulus packagefor the nation to overcome the effects of COVID 19. But the equilibrium interestrate is 4% Assume that equilibrium real GDP is AUD 60 billion Assume that inflation during the COVID crisis was at an equilibrium price of CPI 65 Assume that to overcome the inflationary…Grand Styles Furniture Store is overstocked in (has excess inventory of) one type of chair. Based on the Price-Demand Relationship, what advice would you provide to the store manager to deal with this problem? Fancy Fashions sells jeans for $59 and sweaters for $39. To increase sales of jeans and sweaters, Fancy Fashions promotes this Product Price Bundle: “Buy a pair of jeans and a sweater for $98”. Will this Product Price Bundle will work well to increase the sales of jeans and sweaters?Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods Inventory,June1 $61,600 $46,200 (e) Cost of goods manufactured 329,000 (c ) 484,800 Cost of finished goods available for sales (a) $260,400 $540,000 Finished goods Inventory ,June30 72,800 61,600 (f) Cost of goods sold (b) (d) $513,600
- Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide low-cost flu shots but must decide whether to do so by hiring another full-time nurse or by using part-time nurses. The table below shows the expected costs of the two options for three possible demand levels: States of Nature (demand) Alternatives Low Medium High Hire full−time $320 $480 $700 Hire part−time $0 $340 $800 Probabilities 0.20 0.55 0.25 Part 2 a) The alternative with the least expected cost is ▼ a. Hire full-time b. Hire part-time The expected price of this alternative is $_______ (enter your answer as a whole number). Part 4 b) The appropriate decision tree for Leah Johnson is presented in Figure____?Answer the given question with a proper explanation and step-by-step solution. An E-commerce firm has four regional fulfillment centers (warehouses). Weekly demand for an item (Product_A) at each warehouse is random and is normally distributed with a mean of 10,000 per week and a standard deviation of 2,000 units per week. Product_A’s unit cost is $10. The inventory holding cost of the company is 25% per year. Assume 50 weeks per year. Each replenishment order from the supplier of Product_A costs $1,000, which includes the costs associated with placing the order, transportation, receiving, inspection, and put-away labor expenses. The replenishment lead time from the supplier is 1 week. The company’s service level goal is 95% (probability of having sufficient inventory to meet demand). On average, how long does a unit of inventory spend in the warehouse before being sold? Hint: Think Little's Law 2.5 weeks 6.6 weeks 5.3 weeks 1.3 weeksKevin’s friend, Sam, runs a septic tank repair business. Your research shows that the following price and demand for servicing a tank: Current Price: $300New Price: $375 Current demand: 450 tanksNew demand 425 tanks What is the coefficient of elasticity for Sam’s business? Here is the formula for calculating elasticity: Ed = {(Q1-Q2) / [1/2 (Q1+Q2)] } / {(P1-P2) / [1/2 (P1 + P2)]}
- A local club is selling Christmas trees and deciding how many to stock for the month of December. If demand is normally distributed with a mean of 100 and standard deviation of 20, trees have a salvage value at the end of the month of $8, cost $20 to acquire, and sell for $50, how many trees should be stocked for December?An entrepreneurial resident of the Oklahoma City metropolitan area is interested in securing a new franchise for Mad Over Donuts. Ideally this franchise would be centrally located so delivery could be economically handled and all citizens could enjoy fresh, delicious donuts delivered to the doorstep. The main cities and anticipated demand (in thousands per day) are shown in Table 2. What is the appropriate (non-linear) objective function for this scenario (hint: distances are euclidean)? Zoey’s Catnip Toys faces the following relationship between price (p) and demand (v): v = 2000 − 200p. The fixed cost is $500 and variable cost is $1. Write an expression for the total profit. What price should Zoey charge to maximize profit in question b.?Lovely Apparel must decide how many sets of assorted summer wear to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands. Demand Order Size Low Medium High 1 set 12 15 15 2 sets 9 25 35 3 sets 6 35 60 What decision should be made by the optimist? What decision should be made by the conservative? What decision should be made using minimax regret?