R7.3. A farm sells its own produce in its large retail and wholesale outlets. It can produce potatoes (X) or barley (Y) with its resources. The farm makes a net profit of £70 per acre of potatoes (X) and £100 per acre of barley (Y). The farm manager draws up the following summary state- ment of his resources and input requirements. Requirements per acre Resources Labour Equipment Land X (potatoes) 12 staff days 3 machine days 1 acre Y (barley) 3 staff days 5 machine days 1 acre Amount available 1,080 staff days 450 machine days 100 acres Find the number of acres the farmer should devote to each product in order to maximise total net profit. What is the net profit in this situation?
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- 3. Elana owns a consulting business that helps software companies market their services to school districts. She earns an average of $4635.7 for every contract one of her client companies signs with her help. In order to be able to run her business, she needs to cover $7,000/month (rent, licenses, etc.). The average costs associated with each contract are $1676.6. How many contracts must she facilitate each month in order to break even? a. -2.37 b. 2.37 c. 10966.14 d. 1.51 e. -1675.09 f. None of the other options.Problem 4-11 (Algorithmic) Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers have limited capacity, and no one supplier can meet all the company’s needs. In addition, the suppliers charge different prices for the components. Component price data (in price per unit) are as follows: Supplier Component 1 2 3 1 $11 $12 $13 2 $9 $10 $9 Each supplier has a limited capacity in terms of the total number of components it can supply. However, as long as Edwards provides sufficient advance orders, each supplier can devote its capacity to component 1, component 2, or any combination of the two components, if the total number of units ordered is within its capacity. Supplier capacities are as follows: Supplier 1 2 3 Capacity 500 900 700 If the Edwards production plan for the next period includes 900 units of component 1 and 700 units of component 2, what purchases do you recommend? That is, how many units of each…GoodMed Drug Company produced an antibiotic that is supposed to treat several bacterial infections. However, its main objective is to capture the market of Goodwill Pharma Company's antibiotic, which has become the household antibiotic in the Philippines with a whopping 50% market share. Based on Good Med Drug Company's research, customers want a cheaper alternative for antibiotics. Thus, the company reduced the price to half of Goodwill Pharma The catch is that the efficiency of the antibiotics is inferior to that of Goodwill Pharma Mary Ann Ocampo, a seasoned medical representative, was appointed by GoodMed Drug Company to do a sales pitch of the antibiotics to its network of doctors. The Company promised her bonuses and other perks if she will be able to hit target. Mary Ann is currently in deep financial crisis as her daughter was ust recently diagnosed with leukemia and therefore, this is a timely opportunity or her to recover from her finances. However, at the back of her mind,…
- Q1. An LMN sugar mill company, department stores wish to purchase 10,000 handbags of which 2,000 are of style A, 2,000 are of style B, 3,000 of style C and 3,000 are of style D. Four manufacturers P, Q, R and S bid to supply not more than the following quantities, all styles combined. P= 1,500, Q = 2,600, R = 3,500 and S = 3,000. The following table gives the cost per handbag of each style of the bidders in RO. per handbag: Style Manufacturers P Q R S A 9 12 10 8 B 10 11 9 7 C 8 10 7 10 D 10 9 9 8 Use the transportation model to determine how should orders to be placed by the department store to minimize the total cost? Compare transportation cost by both models(NWCR and LCM)Variable cells Cell Name Final Value Reduced Cost Objective Coefficient Allowable Increase Allowable Decrease $B$6 Activity 1 0 425 500 1E+30 425 $C$6 Activity 2 27.5 0.0 300 500 300 $D$6 Activity 3 0 250 400 1E+30 250 Constraints Cell Name Final Value Shadow Price Constraint R.H. Side Allowable Increase Allowable Decrease $E$2 Benefit A 110 0 60 50 1E+30 $E$3 Benefit B 110 75 110 1E+30 46 $E$4 Benefit C 137.5 0 80 57.5 1E+30 If the coefficient for Activity 1 in the objective function changes to $50, then the objective function value: Multiple Choice will decrease by $450. is $0. will decrease by $2750. will remain the same. can only be discovered by resolving the problem.Variable cells Cell Name Final Value Reduced Cost Objective Coefficient Allowable Increase Allowable Decrease $B$6 Activity 1 3 0 30 23 17 $C$6 Activity 2 6 0 40 50 10 $D$6 Activity 3 0 –7 20 7 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H. Side Allowable Increase Allowable Decrease $E$2 Resource A 20 7.78 20 10 12.5 $E$3 Resource B 30 6 30 50 10 $E$4 Resource C 18 0 40 1E+30 22 What is the allowable range for the right-hand-side for Resource C?
- A leading manufacturer of video games is about to introduce four new games. The accompanying tablesummarizes price and cost data, Combined fixed costs equal $600,000. A marketing research study predicts thatfor each unit sold of Diablo, 2 units of Call of Duty: Modern Warfare, 3 units of Sekiro and 4 units of Starcraft IIwill be sold.GamesDiablo Call of Duty Sekiro Starcraft IISelling Price (in dollars) 55 48 33 22Variable cost/unit (in dollars) 22 17 12 11a) How many product mix units must be sold to break even?b) How does it translate into sales of individual games?Variable cells Cell Name Final Value Reduced Cost Objective Coefficient Allowable Increase Allowable Decrease $B$6 Activity 1 3 0 30 23 17 $C$6 Activity 2 6 0 40 50 10 $D$6 Activity 3 0 –7 20 7 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H. Side Allowable Increase Allowable Decrease $E$2 Resource A 20 7.78 20 10 12.5 $E$3 Resource B 30 6 30 50 10 $E$4 Resource C 18 0 40 1E+30 22 Which parameter is most sensitive to an increase in its value?What is the fertilizer constraint? a. 2r t c <= 10 b. r + c <= 10 c. 3r + 3c <= 10 d. none of the above
- PROBLEM 8 Jim Huang and Roderick Wheeler were sales representatives in a computer store at a shopping mall in Arlington, Virginia, when they got the idea of going into business in the burgeoning and highly competitive microcomputer market. Jim went to Taiwan over the summer to visit relatives and made a contact with a new firm producing display monitors for microcomputers, which was looking for an East Coast distributor in America. Jim made a tentative deal with the firm to supply a maximum of 500 monitors per month and called Rod to see if he could find a building they could operate out of and some potential customers. Rod went to work. The first thing he did was send bids to several universities in Maryland, Virginia, and Pennsylvania for contracts as an authorized vendor for monitors at the schools. Next, he started looking for a facility to operate from. Jim and his operation would provide minor physical modifications to the monitors, including some labeling,…4. Ana owns a consulting business that helps software companies market their services to school districts. She earns an average of $4635.7 for every contract one of her client companies signs with her help. In order to be able to run her business, she needs to cover $7,000/month (rent, licenses, etc.). The average costs associated with each contract are $1676.6. How many contracts must she facilitate each month in order to break even? a. 2.37 b. 1.51 c. -2.37 d. -1675.09 e. 10966.14 f. None of the other options.D&R A3 3 - 2 Question 3. FRA Pricing, Valuation, Payoff, and Hedging Today is June 1. Sustainable Corporation has an obligation of $25 million coming due on August 1. The company is planning to borrow this amount on August 1 to fulfill its obligation, and plans to pay back the loan on December 1. The company’s borrowing rate is LIBOR + 125 basis points. The company’s bank presents it with the following LIBOR term structure: # days LIBOR 30 0.90% 60 1.00% 90 1.05% 120 1.10% 150 1.15% 180 1.18% 210 1.20% 240 1.21% For the calculation of interest, the bank assumes 30 days in a month, and 360 days in a year. Ms. Devro, the VP Finance of Sustainable, is worried that LIBOR will increase between June and August, thus increasing the company’s borrowing cost. She advises that the company enters into a forward rate agreement (FRA) with its bank to hedge its interest rate risk. She has asked you, the treasurer of the company, to…