Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Chapter 10.4, Problem 14P
Summary Introduction
To develop: A simulation model.
Simulation modeling is a computerized model that depicts a real-life situation. It is similar to other mathematical models except that it incorporates the concept of uncertainty in one or more number of the input variables.
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Despite of the price increase A Diesel engine uses the following: Type A filter and high-grade lubricating oil costing P10.50 per liter. With this filter, the oil and the filter must be changed every 200 hours of operation, and 5 liters of oil must be added every 50 hours. This filter costs P150 a piece. Eighty liters of oil fill the the engine. Another type, filter B, costing P110 may be used with a lower grade of oil costing P5.50 per liter. However, if this filter is used, the oil and filter must be changed every 250 hours, and 10 liters are added after each 100 hours the engine is used. Which type of filter and oil would you recommend?
3-2) The optimal quantity of the three products and resulting revenue for Taco Loco is:
A) 28 beef, 80 cheese, and 39.27 beans for $147.27.
B) 10.22 beef, 5.33 cheese, and 28.73 beans for $147.27.
C) 1.45 Z, 8.36 Y, and 0 Z for $129.09.
D) 14 Z, 13 Y, and 17 X for $9.81.
3-3) Taco Loco is unsure whether the amount of beef that their computer thinks is in inventory is correct. What is the range in values for beef inventory that would not affect the optimal product mix?
A) 26 to 38.22 pounds
B) 27.55 to 28.45 pounds
C) 17.78 to 30 pounds
D) 12.22 to 28 pounds
The catering manager of LaVista Hotel, Lisa Ferguson, is disturbed by the amount of silverware she is losing every week. Last Friday night, when her crew tried to set up for a banquet for 500 people, they did not have enough knives. She decides she needs to order some more silverware, but wants to take advantage of any quantity discounts her vendor will offer.
≻For
a small order
(2,000
pieces or less) her vendor quotes a price of
$1.80/piece.
≻If
she orders
2,001
to
5,000
pieces, the price drops to
$1.60/piece.
≻5,001
to
10,000
pieces brings the price to
$1.40/piece,
and
≻10,001
and above reduces the price to
$1.25/piece.
Lisa's order costs are
$205
per order, her annual holding costs are
5%,
and the annual demand is
45,100
pieces. For the best option (the best option is the price level that results in an EOQ within the acceptable range):
Part 2
a) What is the optimum ordering quantity?
enter your response here
units (round your response to the…
Chapter 10 Solutions
Practical Management Science
Ch. 10.2 - Use the RAND function and the Copy command to...Ch. 10.2 - Use Excels functions (not @RISK) to generate 1000...Ch. 10.2 - Use @RISK to draw a uniform distribution from 400...Ch. 10.2 - Use @RISK to draw a normal distribution with mean...Ch. 10.2 - Use @RISK to draw a triangular distribution with...Ch. 10.2 - Use @RISK to draw a binomial distribution that...Ch. 10.2 - Use @RISK to draw a triangular distribution with...Ch. 10.2 - We all hate to keep track of small change. By...Ch. 10.4 - Prob. 11PCh. 10.4 - In August of the current year, a car dealer is...
Ch. 10.4 - Prob. 13PCh. 10.4 - Prob. 14PCh. 10.4 - Prob. 15PCh. 10.5 - If you add several normally distributed random...Ch. 10.5 - In Problem 11 from the previous section, we stated...Ch. 10.5 - Continuing the previous problem, assume, as in...Ch. 10.5 - In Problem 12 of the previous section, suppose...Ch. 10.5 - Use @RISK to analyze the sweatshirt situation in...Ch. 10.5 - Although the normal distribution is a reasonable...Ch. 10.6 - When you use @RISKs correlation feature to...Ch. 10.6 - Prob. 24PCh. 10.6 - Prob. 25PCh. 10.6 - Prob. 28PCh. 10 - Six months before its annual convention, the...Ch. 10 - Prob. 30PCh. 10 - A new edition of a very popular textbook will be...Ch. 10 - Prob. 32PCh. 10 - W. L. Brown, a direct marketer of womens clothing,...Ch. 10 - Assume that all of a companys job applicants must...Ch. 10 - Lemingtons is trying to determine how many Jean...Ch. 10 - Dilberts Department Store is trying to determine...Ch. 10 - It is surprising (but true) that if 23 people are...Ch. 10 - Prob. 40PCh. 10 - At the beginning of each week, a machine is in one...Ch. 10 - Simulation can be used to illustrate a number of...Ch. 10 - Prob. 43PCh. 10 - Prob. 46PCh. 10 - If you want to replicate the results of a...Ch. 10 - Suppose you simulate a gambling situation where...Ch. 10 - Prob. 49PCh. 10 - Big Hit Video must determine how many copies of a...Ch. 10 - Prob. 51PCh. 10 - Prob. 52PCh. 10 - Why is the RISKCORRMAT function necessary? How...Ch. 10 - Consider the claim that normally distributed...Ch. 10 - Prob. 55PCh. 10 - When you use a RISKSIMTABLE function for a...Ch. 10 - Consider a situation where there is a cost that is...
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