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- A goldsmith makes two types of jewelry. A model A ring is made with 1 g of gold and 1.5 g of silver and sells for 25 UM.Another model B ring sells for 30 UM and is made of 1.5 g of gold and 1 g of silver. If you only have 750 gof each metal, how many rings should be made of each type to obtain maximum profit?Requested:- Make Initial Table of the problem.- Obtain the Case Variables- Obtain the Objective Function- Get Restrictions- Create the Simplex Table- Obtain the Optimal Solution and the Slack Variables.Solve this operational research exercise.Please solve using Excel @Risk add-in the question is Textbook Problem from Practical Management Science 6th Edition Chapter 11.4 Problem 30P. In the solution please provided step-by-step excel formulas used. The full Question is attached in the image. Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the company’s mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. Thefollowing data are available:-> If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog.-> If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives.-> If a customer…Dogie Agency has three police dogs to be assigned to 3 different department stores. The cost of each dog on eachdepartment is given below Dogs SM Robinson CSI1 200 350 2702 300 250 1503 400 350 270 1. What quantitative technique can you utilize for this problem? Explain.2. Determine the minimum cost of each dog per department.
- a.Find the starting solution of this transportation model by Least Cost Method. (15P) (Unit transportation costs are given in the table) D1 D2 D3 D4 Supply M1 16 24 14 11 25 M2 21 18 17 9 30 M3 15 13 21 14 40 Demand 25 25 20 25Explain in detail Consider a balanced transportation problem with the cost of transportation Cij given by: C11=10,C12=0,C13=20,C14=11C11=10,C12=0,C13=20,C14=11, C21=12,C22=7,C23=9,C24=20C21=12,C22=7,C23=9,C24=20 , C31=0,C32=14,C33=16,C34=18C31=0,C32=14,C33=16,C34=18, with the current basic feasible solution (BFS): x12=15,x22=0,x23=15,x24=10,x31=5,x34=0x12=15,x22=0,x23=15,x24=10,x31=5,x34=0. Then Select one: a)current solution is not optimal and x24x24 is a leaving variable b)None of these c)the current BFS is optimal d)current solution is not optimal and x23x23 is a leaving variableI need help with everything, please. hint: you will need to define one variable for total funds needed; one variable for each for 2 securities. and five variables for investment in savings at the beginning of each year. The 6th year will be 1.04 times the 5th-year saving variable. Formulate the problem and submit the formulation - no need to solve 1. As part of the settlement for a class action lawsuit, Hoxworth Corporation must provide sufficient cash to make the following annual payments (in thousands of dollars): Year Payment 1 190 2 215 3 240 4 285 5 315 6 460 The annual payments must be made at the beginning of each year. The judge will approve an amount that, along with earnings on its investment, will cover the annual payments. Investment of the funds will be limited to savings (at 4% annually) and government securities, at prices and rates currently quoted in The Wall Street…
- At the beginning of month t, farmer Smith has xtbushels of wheat in his warehouse. He has the opportunityto sell wheat at a price st dollars per bushel and can buywheat at pt dollars per bushel. Farmer Smith’s warehousecan hold at most C units at the end of each month.a Formulate a recursion that can be used to maximizethe total profit earned during the next T months.b Let ft(xt) be the maximum profit that can be earnedduring months t, t 1, . . . , T, given that xt bushels of wheat are in the warehouse at the beginning of month t. By working backward, show that for appropriately cho-sen constants at and bt, ft(xt) at btxt c During any given month, show that the profit-maximizing policy has the following properties: (1) The amount sold during month t will equal either xt or zero.(2) The amount purchased during a given month will beeither zero or sufficient to bring the month’s endingstock to C bushels.Mr Eben Annan a computer scientist used to live in Durban, South Africa but he is now settled in Kumasi Ghana. The following information is contained in his tax returns relating to 2013 year of assessment. Mr Annan is married and has four children who, are attending recognized-schools in Accra and Kumasi. He remits GHS 100 per month to his aged father and mother who live in the village. Income earned in Ghana: Business income GHS20,000 Director fee (net) GHSl,500 Bank Interest GHS3,000 Mr Eben Annan bought some shares in a mining company in South Africa when he was working there. During the 2013 year of assessment, he earned gross dividend amounting GHS6,000 from South Africa. Tax deducted from this income was GHS900 and he received the net amount in Ghana in 2013. There exists a double taxation agreement between Ghana and South Africa. You are required to determine: foreign tax credit relief to be granted to Mr Eben Annan. AN(9) His net tax liability for 2013 year of assessment.…nJuicy Juice manufactures different juices made entirely of various exotic nuts. Their primary market is China and they operate 3 plants located in Ethiopia, Tanzania and Nigeria. You have been asked to help them determine where to manufacture the two newest juices they offer, Gingko Nut and Kola Nut. Each plant has a different variable cost structure and capacity for manufacturing the different juices. Also each juice has an expected demand. Cost/unit Gingko Kola Ethiopia ¥21.00 ¥22.50 Tanzania ¥22.50 ¥24.50 Nigeria ¥23.00 ¥25.50 Capacity Units/month Ethiopia 425 Tanzania 400 Nigeria 750 Demand Units/month Gingko 550 Kola 450 same exampe is used but in this case each plant has a different fixed and variable cost structur and cpacity for manufacturing the differnt Juices. the fixed cost only applies if the plant produces any juice Capacity Unit-Month Fixed…
- nJuicy Juice manufactures different juices made entirely of various exotic nuts. Their primary market is China and they operate 3 plants located in Ethiopia, Tanzania and Nigeria. You have been asked to help them determine where to manufacture the two newest juices they offer, Gingko Nut and Kola Nut. Each plant has a different variable cost structure and capacity for manufacturing the different juices. Also each juice has an expected demand. Cost/unit Gingko Kola Ethiopia ¥21.00 ¥22.50 Tanzania ¥22.50 ¥24.50 Nigeria ¥23.00 ¥25.50 Capacity Units/month Ethiopia 425 Tanzania 400 Nigeria 750 Demand Units/month Gingko 550 Kola 450 How much of each juice should be made at each plant in order to minimize total cost while meeting demand and adhering to plant capacity?Frober Co's institutional investors are becoming increasingly impatient for growth at the company. The directors have identified a significant opportunity in a new market but Frober doesn't currently have the capabilities to exploit that opportunity. The nature of Frober's work means that its processes require a number of high technology processes, and the directors have agreed that Frober must retain full control over its operations in any markets it moves into. In this context, which of the following is the MOST appropriate basis of growth for Frober Co?Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets, Bangladesh and Sri Lanka. Demand for Bicycles in these two markets is given by the following Functions: Bangladesh Q1 = 12 – P1 Sri Lanka Q2 = 8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) a) Determine the company’s total profit function. Also, (i) What are the profit maximizing levels of price and output for the two markets? (ii) Calculate the marginal revenues in each market. b) Now consider two cases: (i) Company is effectively able to price discriminate in the two markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging the same price in the two markets what are the profit maximizing levels of price, output, and the total profits?…