The Great Threads Company is capable of manufacturing shirts, shorts, pants, skirts, and jackets. Each type of clothing requires that Great Threads have the appropriate type of machinery available. The machinery needed to manufacture each type of clothing must be rented at the weekly rates shown in Table 6.2. This table also lists the amounts of cloth and labor required per unit of clothing, as well as the selling price and the unit variable cost for each type of clothing. In a given week, 4000 labor hours and 4500 square yards (sq.yd.) of cloth are available. The company wants to find a solution that maximizes its weekly profit. Table 6.2 Data for the Great Threads Example In the Great Threads model, we didnâ€™t constrain the production quantities in row 16 to be integers, arguing that any fractional values could be safely rounded to integers. See whether this is true. Constrain these quantities to be integers and then run Solver. Are the optimal integer values the same as the rounded fractional values in Figure 6.12?

Practical Management Science

6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659

Chapter
Section

Practical Management Science

6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659
Chapter 6.4, Problem 13P
Textbook Problem
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The Great Threads Company is capable of manufacturing shirts, shorts, pants, skirts, and jackets. Each type of clothing requires that Great Threads have the appropriate type of machinery available. The machinery needed to manufacture each type of clothing must be rented at the weekly rates shown in Table 6.2. This table also lists the amounts of cloth and labor required per unit of clothing, as well as the selling price and the unit variable cost for each type of clothing. In a given week, 4000 labor hours and 4500 square yards (sq.yd.) of cloth are available. The company wants to find a solution that maximizes its weekly profit.Table 6.2 Data for the Great Threads ExampleIn the Great Threads model, we didnâ€™t constrain the production quantities in row 16 to be integers, arguing that any fractional values could be safely rounded to integers. See whether this is true. Constrain these quantities to be integers and then run Solver. Are the optimal integer values the same as the rounded fractional values in Figure 6.12?

Summary Introduction

To determine: Whether the optimal integer value is as same as the rounded fractional values.

Introduction: The variation between the present value of the cash outflows and the present value of the cash inflows are known as the Net Present Value (NPV).

Explanation of Solution

Model:

Formulae to determine the model:

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