Sensitivity Analysis Sensitivity analysis helps to test the sensitivity of the optimum solution with respect to changes of the coefficients in the objective function‚ coefficients in the constraints inequalities‚ or the constant terms in the constraints. For Example in the case study discussed: The actual selling prices (or market values) of the two products may vary from time to time. Over what ranges can these prices change without affecting the optimality of the present solution? Will
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3101 MSOM 3rd in-class Group Assignment (Mod B and Ch 4) Q1) 39) A linear programming problem that aims to minimize cost‚ has two constraints 2X + 4Y ≥ 100 and 1X + 8Y ≤ 100. Which of the following statements about its feasible region is true? (2-points) A) There are four corner points including (50‚ 0) and (0‚ 12.5). B) The two corner points are (0‚ 0) and (50‚ 12.5). C) The feasible region is triangular in shape‚ bounded by (50‚ 0)‚ (33-1/3‚ 8-1/3)‚ and (100‚ 0). D) The graphical origin (0‚ 0)
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Test Bank for Chapter 4 Problem 4-1: Work through the simplex method (in algebraic form) step by step to solve the following problem. Maximize Z = x1 + 2x2 + 2x3‚ subject to 5x1 + 2x2 + 3x3 ≤ 15 x1 + 4x2 + 2x3 ≤ 12 2x1 + x3 ≤ 8 and x1 ≥ 0‚ x2 ≥ 0‚ x3 ≥ 0. Solution for Problem 4-1: We introduce x4‚ x5‚ and x6 as slack variables for the respective functional constraints. The augmented form of the problem then is Maximize Z = x1 + 2 x2 + 2 x3‚ subject to
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2) A company produces two products that are processed on two assembly lines. Assembly line 1 has 100 available hours‚ and assembly line 2 has 42 available hours. Each product requires 10 hours of processing time on line 1‚ while on line 2‚ product 1 requires 7 hours and product 2 requires 3 hours. The profit for product 1 is $6 per unit‚ and the profit for product 2 is $4 per unit. a. Formulate a linear programming model for this problem. b. Solve this model by using graphical analysis. 6)
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Chapter 3 Modeling & Solving LP Problems In A Spreadsheet 1. In general‚ it does not matter what is placed in a variable (changing) cell. Ultimately‚ Solver will determine the optimal values for these cells. If the model builder places formulas in changing cells‚ Solver will replace the formulas with numeric constants representing the optimal values of the decision variables. An exception to this general principle is found in Chapter 8 where‚ when solving nonlinear programming problems‚ the
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| MERTON TRUCK | Memorandum To: President From: Date: ------------------------------------------------- Re: Merton Truck Company Introduction In response to your report and request regarding Merton’s financial performance and product mix‚ I have met with your controller‚ sales manager and production manager‚ and have provided a solution that will improve the company in these two areas. Using a systematic approach‚ I was able to analyze the current machine hours‚ standard costs‚ and
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INDIVIDUAL ASSIGNMENT (MDM) Management Decision Making Deadline: 19 Oct 2014 Tarmac Chemical Corporation produces a special chemical compound—called CHEMIX—that is used extensively in high school chemistry classes. This compound must contain at least 20% sulfur‚ at least 30% iron oxide‚ and at least 30% but no more than 45% potassium. Tarmac’s marketing department has estimated that it will need at least 600 pounds of this compound to meet the expected demand during the coming school session
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Question 1 0 out of 2 points Product mix problems cannot have "greater than or equal to" (≥) constraints. Answer Selected Answer: True Correct Answer: False Question 2 0 out of 2 points Fractional relationships between variables are permitted in the standard form of a linear program. Answer Selected Answer: True Correct Answer: False Question 3 2 out of 2 points In a media selection problem‚ instead of having an objective of maximizing profit or minimizing
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Cory Maillet Krisandra Horn Quain Lawn and Garden‚ Inc. Case Analysis After a false retirement Bill and Jeanne Quain realized their destined action in the plant and shrub business. The need for a high-quality commercial fertilizer prompted the innovation of a blended fertilizer called “Quain-Grow”. Working with chemists at Rutgers University‚ a mixture was constructed from four compounds‚ C-30‚ C-92‚ D-21 and E-11. The costs for these four compounds per pound is as follows: CHEMICAL COMPOUND COST
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Chapter 8 Linear Programming Applications To accompany Quantitative Analysis for Management‚ Eleventh Edition‚ Global Edition by Render‚ Stair‚ and Hanna Power Point slides created by Brian Peterson Copyright © 2012 Pearson Education 8-1 Learning Objectives After completing this chapter‚ students will be able to: 1. Model a wide variety of medium to large LP problems. 2. Understand major application areas‚ including marketing‚ production‚ labor scheduling‚ fuel blending‚ transportation‚ and
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