Student Suite Cd-rom For Winston's Operations Research: Applications And Algorithms
4th Edition
ISBN: 9780534423551
Author: Wayne L. Winston
Publisher: Cengage Learning
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Expert Solution & Answer
Chapter 5.2, Problem 5P
a.
Explanation of Solution
Optimum solution
- The new optimum solution value is calculated by the given formula:
- The key row value can be calculated by the given formula:
b.
Explanation of Solution
Optimum solution
- The new optimum solution value is calculated by the given formula:
- The key row value can be calculated by the given formula:
c.
Explanation of Solution
Cost increase
- The shadow price is the estimated price of a good or a service.
- The shadow price can be found by subtracting the original objective function value from the function va...
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Students have asked these similar questions
A company manufactures three products 1, 2, and 3. Each product requires production time in three
departments as shown below:
PRODUCT DEPARTMENT 1 DEPARTMENT 2 DEPARTMENT 3
1
3 hr/unit
2 hr/unit
1 hr/unit
2
4 hr/unit
1 hr/unit
3 hr/unit
3
2 hr/unit
2 hr/unit
3 hr/unit
There are 500, 400, and 300 hours of production time available in the three departments, respectively. If
products 1, 2, and 3 contribute $3, $4, and $2.5 per unit to profit, answer the following questions:
(You may attach your solution or write in the box)
a)
Define the decision variables (2 marks).
b)
Write all constraints (3 marks).
c)
Write the objective function (define whether it is a maximization or minimization) (1.5 marks)
Andalus Furniture Company has two manufacturing plants, one at Aynor and another at Spartanburg. The cost in dollars of producing a kitchen chair at each of the two plants is given here.
Aynor: Cost = 65Q1 + 5Q12 + 96Spartanburg: Cost = 21Q2 + 3Q22 + 147
Where
Q1 = number of chairs produced at Aynor
Q2= number of chairs produced at Spartanburg
Andalus needs to manufacture a total of 50 kitchen chairs to meet an order just received. How many chairs should be made at Aynor and how many should be made at Spartanburg in order to minimize total production cost? Can you use Excel to formulate and Solver to solve.
Pneumatics Engineering purchased a machine that had a fi rst cost of $40,000, an expected useful life of 8 years, a recovery period of 10 years, and a salvage value of $10,000. The operating cost of the machine is expected to be $15,000 per year. The inflation rate is 6% per year and the company’s MARR is 11% per year. Determine the depreciation charge for year 3 according to the straight line method. (UNITS ARE REQUIRED)
Chapter 5 Solutions
Student Suite Cd-rom For Winston's Operations Research: Applications And Algorithms
Ch. 5.1 - Prob. 1PCh. 5.1 - Prob. 2PCh. 5.1 - Prob. 3PCh. 5.1 - Prob. 4PCh. 5.1 - Prob. 5PCh. 5.2 - Prob. 1PCh. 5.2 - Prob. 2PCh. 5.2 - Prob. 3PCh. 5.2 - Prob. 4PCh. 5.2 - Prob. 5P
Ch. 5.2 - Prob. 6PCh. 5.2 - Prob. 7PCh. 5.2 - Prob. 8PCh. 5.3 - Prob. 1PCh. 5.3 - Prob. 3PCh. 5.3 - Prob. 4PCh. 5.3 - Prob. 5PCh. 5.3 - Prob. 6PCh. 5.3 - Prob. 7PCh. 5.3 - Prob. 9PCh. 5.3 - Prob. 10PCh. 5.3 - Prob. 11PCh. 5 - Prob. 1RPCh. 5 - Prob. 2RPCh. 5 - Prob. 3RPCh. 5 - Prob. 4RPCh. 5 - Prob. 6RPCh. 5 - Prob. 7RPCh. 5 - Prob. 8RPCh. 5 - Prob. 9RPCh. 5 - Prob. 10RPCh. 5 - Prob. 11RPCh. 5 - Prob. 12RPCh. 5 - Prob. 13RPCh. 5 - Prob. 14RPCh. 5 - Prob. 15RPCh. 5 - Prob. 16RP
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