SCM1012 – SCM Quantitative Techniques Assignment #1 The following table summarizes the key facts about two products, A and B, and the resources, Q, R, and S, required to produce them. Product A Product B Unit Profit $3,000 $2,000 Resource Usage per Unit Produced Product A Product B Amount of Resource Available Resource Q 2 1 2 Resource R 1 2 2 Resource S 3 3 4 All the assumptions of linear programming hold. Formulate and solve a linear programming model for this problem on a spreadsheet by using the Excel Solver. Determine units to produce of each unit. Note: Round your answers to 3 decimal places. Determine the total profit. Note: Round your answer to 2 decimal places.

SCM1012 – SCM Quantitative Techniques Assignment #1 The following table summarizes the key facts about two products, A and B, and the resources, Q, R, and S, required to produce them. Product A Product B Unit Profit $3,000 $2,000 Resource Usage per Unit Produced Product A Product B Amount of Resource Available Resource Q 2 1 2 Resource R 1 2 2 Resource S 3 3 4 All the assumptions of linear programming hold. Formulate and solve a linear programming model for this problem on a spreadsheet by using the Excel Solver. Determine units to produce of each unit. Note: Round your answers to 3 decimal places. Determine the total profit. Note: Round your answer to 2 decimal places.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 49P: If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60...

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	Product A	Product B
Unit Profit	$3,000	$2,000

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If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.
Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below: Year XT PC Sales Revenue($’000,000) All Industry PC Sales Revenue($’000,000,000) 1 2.4 4.6 2 5.9 8.6 3 15.5 10.7 4 27.8 14.8 5 35.9 18.5 6 38.1 19.4 Required:A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect). B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion?C. Advise management at Integrated Products Corporation (IPC) which of the twosales estimates from parts A and B above…
Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below: Year XT PC Sales Revenue($’000,000) All Industry PC Sales Revenue($’000,000,000) 1 2.4 4.6 2 5.9 8.6 3 15.5 10.7 4 27.8 14.8 5 35.9 18.5 6 38.1 19.4 Required: A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect).B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion?
1) The Sanders Garden Shop sells two types of grass seeds. Each type of grass seed needs different resources (per pound) as shown in table. Type Basic seeds provides a profit of $3 and Type Super provides a profit of $4.5 per pound. Type Basic Type Super Area in square feet 1 1 Pesticides 2 1 Harvesting &Packaging hours 2 5 Let X = the pounds of Type Basic seed Let Y= the pounds of Type Super seed The Linear Program has been provided as follows: Max 3X + 4.5Y s.t. 1A + 1B ≤ 300 ------1 2A + 1B ≤ 400 -------2 2A + 5B ≤ 750 --------3 A , B ≥ 0 USE GRAPHICAL SOLUTION PROCEDURE TO SOLVE THE LINEAR PROGRAM AND PERFORM THE FOLLOWING STEPS. • Draw the constraints • Shade the feasible region • Corners should be clear and make an arrow to define the feasible region. .Point out the optimal corner on the graph ( the…
XYZ Corporation manufactures two products, Simple and Complex. The following annual information was gathered: Simple Complex Selling price per unit P47.00 P26.00 Variable cost per unit 42.00 22.00 Total annual fixed costs are P18,000. Assume XYZ Corporation can produce and sell any mix of Simple or Complex at full capacity. It takes 1.5 hours to make one unit of Complex. However, Simple takes 50% longer to manufacture when compared to Complex. Only 120,000 hours of plant capacity are available. How many units of Simple and Complex should XYZ Corporation produce and sell in a year to maximize profits?
Friendly Waste Co. runs three different factories and is required by law to safely dispose of chemicals. Waste from three different factories can be processed to reduce the amount of two different types of pollutants. State law requires that the total reduction in the amount of pollutant A is at least 30 tons and pollutant B is at least 40 tons. Using the information in the following table: Factory Proc Cost Per Ton Reduction Plant A Reduction Plant B 1 15 0.1 0.45 2 10 0.2 0.25 3 20 0.4 0.3 •Algebraically formulate a linear programming model to represent this problem.
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An automobile manufacturer wants to award contracts for the supply of four different fuel injection system components. Four contracts have submitted bids on the components; the Table below summarizes the prices bid per unit. Where no entry is made, the contractor submitted no bid. Component Contractor 1 2 3 4 1 $25 - $30 $40 2 $28 $80 $28 - 3 - $75 $33 - 4 $30 $82 - $42 Demand (units) 15,000 30,000 10,000 20,000 The demand for a component does not have to be supplied completely by one contractor. In fact, certain contractors have indicated maximum quantities that can be supplied at the bid price. Contractor 1 can supply no more than 18,000 of item 4, contractor 2 no more than 3,000 of item 1, contractor 4 no more than 15,000 units of item 2 and no more than 5,000 of item 4. There is no provision that awards must go to the low bidder. The automobile manufacturer wants to determine how many units of each…
Homework #2 (about 700 words): Read the attached paper and watch the following webinar presentation on a sustainability mindset. Then answer the following two questions: https://southernct.blackboard.com/bbcswebdav/pid-2700856-dt-content-rid-38030675_1/xid-38030675_1. Kassel, K., Rimanoczy, I., & Mitchell, S. F. (2018). A sustainability mindset model for management education. In Developing a sustainability mindset in management education (pp. 3-37). Routledge. Link: Session #46 Isabel Rimanoczy: “What is the Sustainability Mindset?” https://www.youtube.com/watch?v=3_VVc9kLnUs Provide your own definition of (a) sustainability and (b) sustainable business in your own words. Briefly describe the sustainability mindset proposed by Kassel et al. (2018). According to Rimanoczy (2021), why do we have to learn about the sustainability mindset?
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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 $
Creative sports design (CSD) manufactures a standard size racket and an over sized racket. The firm's rackets are extremely light due to the use of a magnesium- graphite alloy that was invented by the firm's founder. Each standard size racket uses 0.125 kilograms of the alloy and each oversize racket uses 0.4 kilograms; over the next two week production period only 80 kilograms of the alloy are available. Each standard size racket uses 10 min. of manufacturing timeand each oversize racket uses 12 min. The profit contributions are $10 for each standard size racket and $15 for each oversized racket, and 40 hours of manufacturing time are available each week. Managment specified that at least 20% of the total production must3 be the standard size racket. How many rackets of each type should CSD manufacture over the next 2 weeks to maximize the total profit contributions? Assume that because of the unique nature of their products, CSD can sell as many rackets as they can produce?