QUESTION 2 Molitup Limited (ML) manufactures three products: Product MM, Product LL and Product TT. The contribution per unit of the respective products is as follows: Product MM Product LL Product TT Contribution per unit £600 £500 £800 Three processes are required for the manufacture of these products: Process Alpha, Process Beta and Process Gamma. The processing time (in hours) required for the manufacture of a unit of each product is as follows: Product MM Product LL Product TT Process Alpha Process Beta 20 30 80 50 90 60 Process Gamma 40 20 60 The monthly availability of Process Alpha, Process Beta and Process Gamma are limited to 40,000 hours, 80,000 hours and 50,000 hours respectively. The objective of the company is to maximise contribution. Required: а) Formulate the initial simplex tableau to be used for the determination of the optimum monthly production plan.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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