Question 1: What objective function will be used to evaluate the minimum cost? Question 2: Given the feasible region, how many corner points does the LP model generate? Question 3: Given the graph of the LP model, which of the following is not a corner point? (0,0), (0,8), (0,15) (15,0)
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Question 1: What objective function will be used to evaluate the minimum cost?
Question 2: Given the feasible region, how many corner points does the LP model generate?
Question 3: Given the graph of the LP model, which of the following is not a corner point? (0,0), (0,8), (0,15) (15,0)
Question 4: How many constraints, excluding the non-negative constraints, will be considered for the determination of the optimal solution?
Question 5: What is the minimum cost referred to in the problem?
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- The DellaVecchia Garden Center purchases and sells Christmas trees during the holiday season. It purchases the trees for $10 each and sells them for $20 each. Any trees not sold by Christmas day are sold for $2 each to a company that makes wood chips. The garden center estimates that four levels of demand are possible: 100, 200, 500, and 1,000 trees.a. Compute the payoffs for purchasing 100, 200, 500, or1,000 trees for each of the four levels of demand.b. Construct a payoff table, indicating the events and alternative courses of action.c. Construct a decision tree.d. Construct an opportunity loss table. Use the Optimistic (maximax) to choose the best choice.e.Use the Pessimistic (maximin) to choose the best choice.f.Use the Criterion of realism (Hurwicz) to choose the best choice. α = 0.6g.Use the Equally likely (Laplace) to choose the best choice.h.Use the Minimax regret to choose the best choice.i.Use the expected monetary value to make a choice. ( Probability for the four level…Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February: Work-in-process inventory, February 1 4,300 trusses Direct materials: 100% complete $ 10,780 Conversion: 30% complete $ 15,558 Units started during February 18,300 trusses Units completed during February and transferred out 17,300 trusses Work-in-process inventory, February 29 Direct materials: 100% complete Conversion: 30% complete Costs incurred during February Direct materials $ 59,340 Conversion $ 92,392 Required Using the weighted-average method, calculate the following: 1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.) 1-b. Cost of goods completed and transferred out. (Round "Cost per EU" to 4 decimal places. Round final answer to nearest whole dollars.) 1-c. Costs remaining in the…Georgia Cabinets manufactures kitchen cabinets that are sold to local dealers throughout the Southeast. Because of a large backlog of orders for oak and cherry cabinets, the company decided to contract with three smaller cabinetmakers to do the final finishing operation. For the three cabinetmakers, the number of hours required to complete all the oak cabinets, the number of hours required to complete all the cherry cabinets, the number of hours available for the final finishing operation, and the cost per hour to perform the work are shown here: Cabinetmaker 1 Cabinetmaker 2 Cabinetmaker 3 Hours required to complete all the oak cabinets 50 44 32 Hours required to complete all the cherry cabinets 61 46 34 Hours available 35 25 30 Cost per hour $36 $43 $56 For example, Cabinetmaker 1 estimates that it will take 50 hours to complete all the oak cabinets and 61 hours to complete all the cherry cabinets. However, Cabinetmaker 1 only has 35 hours available for the final…