Ten different types of brownies are sold. You arethinking of developing a new brownie for sale.Brownies are rated on the basis of five qualities: price,chocolate flavor, chewiness, sweetness, and ease ofpreparation. You want to group the 10 brownies on themarket into three clusters. Each cluster should containbrownies that are relatively similar.a. Why would this be useful to you?b. How would you do it?
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Ten different types of brownies are sold. You are
thinking of developing a new brownie for sale.
Brownies are rated on the basis of five qualities: price,
chocolate flavor, chewiness, sweetness, and ease of
preparation. You want to group the 10 brownies on the
market into three clusters. Each cluster should contain
brownies that are relatively similar.
a. Why would this be useful to you?
b. How would you do it?
Step by step
Solved in 3 steps
- 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%.You want to take out a 450,000 loan on a 20-year mortgage with end-of-month payments. The annual rate of interest is 3%. Twenty years from now, you will need to make a 50,000 ending balloon payment. Because you expect your income to increase, you want to structure the loan so at the beginning of each year, your monthly payments increase by 2%. a. Determine the amount of each years monthly payment. You should use a lookup table to look up each years monthly payment and to look up the year based on the month (e.g., month 13 is year 2, etc.). b. Suppose payment each month is to be the same, and there is no balloon payment. Show that the monthly payment you can calculate from your spreadsheet matches the value given by the Excel PMT function PMT(0.03/12,240, 450000,0,0).Another way to derive a demand function is to break the market into segments and identify a low price, a medium price, and a high price. For each of these prices and market segments, we ask company experts to estimate product demand. Then we use Excels trend curve fitting capabilities to fit a quadratic function that represents that segments demand function. Finally, we add the segment demand curves to derive an aggregate demand curve. Try this procedure for pricing a candy bar. Assume the candy bar costs 0.55 to produce. The company plans to charge between 1.10 and 1.50 for this candy bar. Its marketing department estimates the demands shown in the file P07_47.xlsx (in thousands) in the three regions of the country where the candy bar will be sold. What is the profit-maximizing price, assuming that the same price will be charged in all three regions?
- Is my solution correct and did I fully answer the questions? (see attachment for my solution) Question: There are three factories on Momiss River. Each emits two types of pollutants, labeled P1 and P2, into the river. If the waste from each factory is processed, the pollution in the river can be reduced. It costs $1,500 to process a ton of factory 1 waste, and each ton processed reduces the amount of P1 by 0.10 ton and the amount of P2 by 0.45 ton. It costs $2,500 to process a ton of factory 2 waste, and each ton processed reduces the amount of P1 by 0.20 ton and the amount of P2 by 0.25 ton. It costs $3,000 to process a ton of factory 3 waste, and each ton processed reduces the amount of P1 by 0.40 ton and the amount of P2 by 0.50 ton. The state wants to reduce the amount of P1 in the river by at least 125 tons and the amount of P2 by at least 175 tons. a. Use Solver to determine how to minimize the cost of reducing pollution by the desired amounts. Are the LP assumptions…The Bargain Hut has 2400 cubic feet of storage space for refrigerators. Large refrigerators come in 60-cubic-foot packing crates and small refrigerators come in 40-cubic-foot crates. Large refrigeratorscan be sold for a $250 profit and the smaller ones can be sold for $150 profit. How many of each typeof refrigerator should be sold to maximize profit and what is the maximum profit if:a) If the manager wants to sell at least 50 refrigerators must be sold each month, how many large refrigerators and how many smaller refrigerators should he/she order each month to maximize profit?b) At least 40 refrigerators must be sold each month.(Please use the format of the speadsheet in the image) A rancher is mixing two types of foods, Brand X and Brand Y, for his cattle. Each serving for cattle is required to have 360 grams of protein and 360 grams of fat. Brand X has 5 grams of protein and 10 grams of fat. Brand Y has 10 grams of protein and 5 grams of fat. Rancher has found that Brand X costs $3.5 and brand Y costs $5 per unit. Find out how much of each type should be used by the rancher to minimize cost. Keep in mind that the rancher has to buy at least one unit of each brand. Moreover, the number of brand X has to be twice the number of brand Y. (Possible Answer: $216)
- You may produce seven products by consuming three materials. The unit sales price and material consumption of each product are listed in Table 1. For each day, the supply of these three materials are limited. The supply limits are listed in Table 2. For each day, you need to determine the production quantity for each product. Product Price Material 1 Material 2 Material 3 1 100 0 3 10 2 120 5 10 10 3 135 5 3 9 4 90 4 6 3 5 125 8 2 8 6 110 5 2 10 7 105 3 2 7 Table 1: Product information for Problem 1 Material Supply limit 1 100 2 150 3 200 Table 2: Material information for Problem 1 Formulate a linear integer program that generates a feasible production plan to maximize the total profit (which is also the total revenue, as there is no cost in this problem). Then write a computer program (e.g., using MS…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.The Big Bang Novelty Company (BBNC) makes 3 types of noise?makers: Toot, Wheet, and Honk. A Toot can be made in 30 minutes and has a feather attached to it. A Wheet requires 20 minutes, has two feathers, and is sprinkled with 0.5 ounces of sequin powder. The Honk requires 30 minutes, three feathers, and 1 ounce of sequin powder. The unit profits are $0.45 per Toot, $0.55 per Wheet, and $0.70 per Honk. The following resources are available: 80 hours of labor, 360 feathers, and 90 ounces of sequin powder. BBNC would like to maximize the overall profit from the noise-makers. (a) Write the linear programming model. Express labor time in minutes in LP formulationb) Solve using Excel Solver. How much of the resources (labor, feathers, and sequin powder) will be used by the optimal solution? If the availability of labor increases by 10 hours, what is the optimal total profit? If the unit profit of Wheet is actually only $0.30 instead of $0.55, will this change the solution? How many of each…
- Can you show how to put it in Excel? XYZ store sells regular and premium nut mixes. Premium mix contains three quarters pound of cashews and one quarter of peanuts, and the regular mix has half pound of cashews and half pound peanuts per bag. The shop has 200 pounds of cashews and 300 pounds of peanuts to work with. Cashews cost $1.50 per pound, and peanuts cost 60 cents per pound. Premium mix will sell for $2.90 per pound, and the standard mix will sell for $2.55 per pound. The owner esimtes that no more than 200 bags of one types can be sold. What is the best combinations of products that maximizes profits? Make sure to create a feasible solution with countable number of products (no partials)As a toy builder you enjoy making toys for both fun and profit. For your latest production batch, you need to decide how many of each toy to make. The four types of toys you make are airplanes, helicopters, bus, and cars. To build an airplane you need 3 blue blocks, 2 green rods, and 1 red wheel. To build a helicopter you need 2 blue blocks, 4 green rods, and 1 red wheel. To build a bus you need 1 blue blocks, 3 green rods, and 4 red wheel. To build a car you need 1 blue block, 2 green rods, and 4 red wheels. Your profit margins for each toy are as follows: Airplane P7, Helicopter P8, Bus P6, Car P5. The parts available to you are as follows: 30 blue blocks, 44 green rods, and 50 red wheels. It is ok to have leftover parts. Question: What is the maximum profit you can achieve?Use the simplex method to solve the following LP Max z = 2x1 + 3x2 s.t. x1 + 2x2 <= 6 2x1 + x2 <= 8 END LP Please use tableau like the one in the attached image, thanks