Construct the decision tree showing the different decisions that the company can undergo. b. Compute the revenues and losses that the company might incur in making these decisions and determine which decision would be the best for the company. II. Linear Programming A. Café Therea is a newly opened business that produces two kinds of food. Rice Toppings and Mixed Rice Meals. Both of which use three kinds of ingredients: Rice‚ Meat‚ and Sauce. The Rice Toppings needs two scoops of rice‚ six and two thirds
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For a profit maximization problem‚ if the allowable increase for a coefficient in the objective function is infinite‚ then profits are unbounded. T . MULTIPLE CHOICE – clearly indicate your response. 1. For a linear programming problem‚ assume that a given resource has not been fully used. In other words‚ the slack value associated with that resource constraint is positive. We can conclude that the shadow price associated with that constraint: A. will have a positive
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Julia Booth Case Study Angela Walker June‚ 06‚ 2013 Dr. Carl Tucker field In this case study‚ I must create a linear programming model for Julia that will help her to decide whether or not she need to lease a booth. The three products or variable we must consider for this booth are pizza‚ hotdogs‚ and barbecue sandwiches. In this model‚ x 1 equal the number of pizza slices Julia should purchase‚ x2 equals the number of hotdogs Julia should purchase‚ and x3 equal the number of barbecue sandwiches
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Running Head: JULIA’S FOOD BOOTH Assignment #3: Case Problem "Julia’s Food Booth" Mat540 Quantitative Methods August 22‚ 2012 Julia’s Food Booth (A) Formulate and solve a L.P. model for this case. Variables: Pizza - X1 $1.33 $1.50 14 inches Hot Dogs - X2 $0.45 $1.50 16 square inches Barbecue - X3 $0.90 $2.25 25 square inches Maximize Z= $0.75x1‚ 1.05x2‚ 1.35x3 Subject to: $0.75x1 + $0.45x2 + $0.90x3 ≤ $1‚500 24x1 + 16x2 + 25x3 ≤
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UNIVERSITY OF WATERLOO CO370/CM443: Deterministic OR Models Midterm Examination – FALL TERM 2011 Thursday‚ October 20‚ 2011‚ 7-9 PM (conflict time 4:45-6:45 PM) CLOSED BOOK Surname: First Name: Signature: ID#: INSTRUCTIONS: 1. Write your name and Student ID# in the blanks above. 2. There are five questions. Some questions may be longer or more difficult than others. Read all the questions first and budget your time appropriately for each question. 3. Answer each question in your solution booklet. Problem
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Brittany Asay MGMT 650 Chapters 3 & 4 Homework Problems May 14‚ 2013 Chapter 3: 13. Refer to the computer solution of Problem 12 in Figure 3.17. a. Identify the range of optimality for each objective function coefficient. E: 47.5-75 S: 87-126 D: there is no lower limit until 159 b. Suppose the profit for the economy model is increased by $6 per unit‚ the profit for the standard model is decreased by $2 per unit‚ and the profit for the deluxe model is increased by $4 per unit. What will
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Problem Statement Present the cost per pound of the nuts included in the Regular‚ Deluxe‚ and Holiday mixes. Discuss the optimal product mix and the total profit contribution. Give recommendations regarding how the total profit contribution can be increased if additional quantities of nuts can be purchased. Give a recommendation as to whether TJ’s should purchase an additional 1000 pounds of almonds for $1000 from a supplier who overbought. Give recommendations on how profit contribution could
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Graphical and Simplex Methods of Linear Programming The graphical method is the more popular method to use because they are easy to use and understand. Working with only a few variables at a time they allow operations managers to compare projected demand to existing capacity. The graphical method is a trial and error approach that can be easily done by a manager or even a clerical staff. Since it is trial and error though‚ it does not necessarily generate the optimal plan. One downside of this
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Unit 1 Lesson 9 : The Big M Method Learning outcomes • The Big M Method to solve a linear programming problem. In the previous discussions of the Simplex algorithm I have seen that the method must start with a basic feasible solution. In my examples so far‚ I have looked at problems that‚ when put into standard LP form‚ conveniently have an all slack starting solution. An all slack solution is only a possibility when all of the constraints in the problem have or = constraints‚ a starting basic
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what blend of the four chemicals will allow Quain to minimize the cost of a 50-lb bag of the fertilizer. To do this we have used Linear Programming (LP) – a technique specifically designed to help managers make decisions relative to the allocation of resources. In this case‚ C-30 = ‚ C-92 = ‚ D-21 = ‚ and E-11 = . The constraints for this case were translated into linear equations (i.e. inequalities) to mathematically express their meaning. The first constraint that C-11 must constitute for at least
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