OPERATIONS MANAGEMENT-ACCESS >CUSTOM<
17th Edition
ISBN: 9781323465974
Author: HEIZER
Publisher: PEARSON C
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Chapter F, Problem 5DQ
Question:
5. What is the role of random numbers in a Monte Carlo simulation?
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Question 2
A particular road is used by N drivers each day. Each driver obtains a benefit v from the journey and incurs a cost c(N ) that increases with the number of drivers on the road due to congestion. Suppose that the cost incurred is given by
c(N) = a+bN,
for some positive numbers a, b. If the agent decides not to use the road, they receive 0. You may assume throughout that the number of drivers N can be any real number (rather than an integer). Each driver uses the road at most once.
the number of drivers that join the road is Ne = (v−a)/b
(iv) Suppose that the government charges a toll t (a congestion charge) for each journey. Find the optimum toll. Interpret your answer in terms of the externality that each driver imposes on others.
Question 2:
Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 220,000 pounds of grade 6 oranges and 150,000 pounds of grade 9 oranges on hand. The average quality of oranges sold in bags must be at least 7, and the average quality of oranges used to produce orange juice must be at least 8. Each pound of oranges that is used for juice yields a revenue of $2.25 and incurs a variable cost (consisting of labor costs, variable overhead costs, inventory costs and so on) of $1.35. Each pound of oranges sold in bags yields a revenue of $2.00 and incurs a variable cost of $1.20.
Determine how Sunblessed can maximize its profit. Please include your answer report with the model, and a description of your recommendation.
Use SolverTable to determine how a change in the cost per bag of oranges changes the optimal solution. Specifically, vary the cost from $1.00 to $1.50 in…
Question 1. Busch Gardens Sweets is preparing for the Halloween rush. They prepare two sizes of Peanut/Raisin Ghoulish Delight and need to calculate how many bags of deluxe and standard mixes they can produce. • The deluxe mix takes 0.9 of a pound of raisins and 0.4 of a pound of peanuts.• The standard mix takes 0.7 of a pound of raisins and 0.6 of a pound of peanuts.The shop has 100 pounds of raisins and 70 pounds of peanuts. The profit on the deluxe mix is $1.80 and the standard mix profit is $1.60. The owner wants no more than 110 bags of each type prepared. Do not forget the non-negativity constraint and remember that you cannot sell partial bags (whole numbers only). Use Excel Solver
Question 2. Take a screenshot (snip tool) of you excel spreadsheet and save it.
Chapter F Solutions
OPERATIONS MANAGEMENT-ACCESS >CUSTOM<
Ch. F - Question: 1 State the seven steps, beginning with...Ch. F - Question: 2. List the advantages of simulation.Ch. F - Prob. 3DQCh. F - Question: 4. Explain the difference between...Ch. F - Question: 5. What is the role of random numbers in...Ch. F - Prob. 6DQCh. F - Question: 7. What is Monte Carlo simulation? What...Ch. F - Question: 8. List six ways that simulation can be...Ch. F - Question: 9. Why is simulation such a widely used...Ch. F - Prob. 10DQ
Ch. F - Prob. 11DQCh. F - Prob. 12DQCh. F - Prob. 13DQCh. F - Prob. 1PCh. F - Prob. 2PCh. F - Prob. 3PCh. F - Prob. 4PCh. F - Question F.5 Arnold Palmer Hospital is studying...Ch. F - Prob. 6PCh. F - Question: F.7 A warehouse manager at Mary Beth...Ch. F - Prob. 8PCh. F - Question: F.10 The number of cars arriving at...Ch. F - Prob. 10PCh. F - Prob. 11PCh. F - Question: F.14 Refer to the data in Solved...Ch. F - Prob. 16PCh. F - Prob. 17PCh. F - Question: F.15 Connecticut Tanning has two...Ch. F - Prob. 19PCh. F - Prob. 20PCh. F - Prob. 21PCh. F - Prob. 1CSCh. F - Prob. 2CS
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