A minimization Linear Programming (LP) model with two integer decision variables x1 and x2 has an optimal solution with the objective function value of 16. If we do not restrict x1 and x2 to be integers, which of the following COULD be the new optimal objective function value?
Q: Find a Doctor is a small startup that helps people find a physician who best meets their needs…
A: Queueing theory is a part of operations management. It is studied and executed to determine the…
Q: Period Actual Sales 1 500 2 540 Answer the following two questions using it. 3 5 620 4 690 820 Using…
A: Ans) Exponential Smoothing with formula: Thus, Correct Answer is 725. Thus, Correct Option is H.
Q: The following jobs are waiting to be processed at a small machine center. JOB 10 20 30 40 50 DUE…
A: Given data: Job Due date Duration 10 260 28 20 256 12 30 260 8 40 265 18 50 275 22…
Q: A manufacturer produces flat-screen TVs, each of which may have some defective pixels. The average…
A: Upper control limit is shown in the control chart. It is the highest value on the control chart.
Q: Case 12. FOUR ACES CONSTRUCTION AND HARDWARE SUPPLY: Here, There, and Everywhere In 1964, four girls…
A: Introduction - The case "Four Aces Construction and Hardware supply: Here, There, and Everywhere"…
Q: Looking at the cost of quality, which of the following are NOT considered part of internal failure…
A: The phrase "cost of quality" refers to a system that enables an organization to assess how much of…
Q: Evaluate the statistical ROP when you have probabilistic demand and constant lead time, with…
A: While calculating ROP, the uncertainty of demand is considered as an important factor. It impacts…
Q: Supply chain management has enabled some companies to operate more efficiently and compete more…
A: ANSWER : Supply chain management is a general course of creating the products, and distributing the…
Q: Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide…
A: Most employers describe full-time workers as those who are routinely scheduled to work a certain…
Q: Phillip Witt, president of Witt Input Devices, wishes to create a portfolio of local suppliers for…
A: Cost of Shutdown = 480000Super event Risk = 3%Unique event Risk = 5%Cost of managing suppliers =…
Q: Betty Bad and Gary Good have the following expected claims distributions: Betty Bad Gary Good Loss…
A: Given, the expected claims distribution table. Expected claim cost = Sum product of Probability and…
Q: Which of the following statements is TRUE of a functional structure? It focuses on the company's…
A: Explanation : In the functional structure, it becomes easier for the employees to supervise one…
Q: What is the leadership style of the nurse manager, and what are the behavior styles of the staff?
A: The unit nurse administrator has an autocratic management style. Autocratic executives seldom seek…
Q: Question 8 When looking at the entire industry, the main areas in a company's overall value chain…
A: A value chain is a systematic corporate strategy for taking a good or service from conception to…
Q: QUESTION 1 The Brown family owns 420 acres of farmland in North Carolina on which they grow corn and…
A: Let acres of corn produced be x1 and tobacco produced be x2 The objective is to maximize the profit.…
Q: ollowing elements, EXCEPT for which one? Group of answer choices A Final approval of the end…
A: Project closing At this point, the project management process is complete. Following the final…
Q: Express Logistics provides delivery service seven days a week. The daily requirements (in workers)…
A: Given- Daily worker requirement-
Q: Pauline Found Manufacturing, Inc., is moving to kanbans to support its telephone switching-board…
A: Given, Setup cost S = $30 Annual holding cost H = $125 Daily production p = 20 subassemblies Annual…
Q: I am planning a Holiday Ornament to commemorate the christmas spirit. Forcasted demand for ornaments…
A:
Q: Determine the utilization and the efficiency for each of these situations: A car wash operation…
A: Efficiency is the proportion between actual output and effective capacity. Similarly, the…
Q: ct throughout its development cycle. Make use of the following sub-headings: describe the factors…
A: Controlling the quality of services is the main focus of quality management, as the name suggests.…
Q: Time required for the production of the twelfth 787: 12th unit time hours (round your response to…
A: Given: Learning rate = 75% Time is taken by 8th 787 jet = 27400 hrs
Q: The estimated times and immediate predecessors for the activities in a project at Howard Umrah's…
A: Given data: Time in weeks Immediate Predecessor(s) Activity a m b A 8 10 13 -…
Q: A during trip inspections should include checking for:
A: 1. Odometer ReadingsOn practically any pre-trip review structure, on an application etc., the…
Q: William Beville's computer training school, in Richmond, stocks workbooks with the following…
A: The optimal quantity a business should acquire to reduce its inventory expenses, such as shortfall…
Q: amount of time, whi ly relevant and imp. uch a measure. Wha t?
A: Combining the right tools to produce the results is risk identification.
Q: Terminator, Inc., manufactures a motorcycle part in lots of 250 units. The raw materials cost for…
A: Given that: Lot size = 250 unitsRaw material cost = 150Value added in manufacturing = 300Total cost…
Q: Can Amazon Web Services be of assistance to a business?
A: Through the AWS Migration Acceleration Program, AWS assists businesses in operations management by…
Q: The UCC treats merchants differently from common, inexperienced sellers and buyers. How does the UCC…
A: All business transactions throughout the United States are governed & administered by the…
Q: Which of the following statements about project management is true? OA. all tasks on the critical…
A: Utilizing certain information, skills, tools, and procedures in project management provides people…
Q: D a. b. C. d. 8. What do just-in-time (JIT) manufacturers demand from their vendors? Low quality…
A: With JIT inventory, materials are produced or acquired only when needed. This kind of inventory…
Q: manager is attempting to put together an aggregate plan for the coming nine months. She has obtained…
A: Ans) Number of full time employee = 20 Each one can produce 10 units per period So, Total Number of…
Q: You have 1000 euros to invest. At the beginning of each year, you can invest your available money in…
A: The following information is given: Available amount to invest = 1000 euros Investment opportunities…
Q: The jobs listed below need to be completed Assume that it is now day 140. If the jobs are sequenced…
A: Given-
Q: Suppose you have a choice of three projects to choose from. Here the expected profits from these…
A: a)
Q: The demand data for Double T Computer Services appears below. The company wants you to forecast the…
A: With given period and demand, Least squares line, y = a + bx b = N*∑XY - (∑X)*(∑Y)N*(∑X2) - (∑X)2 a…
Q: Using PERT, Adam Munson was able to determine that the expected project completion time for the…
A: For your better Understanding:
Q: PROVIDE ACTIONS OR RECOMMENDED ACTIONS TO OVERCOME THE CHALLENGES WHEN IT COMES TO RECRUITMENT AND…
A: Your development might need to be improved by hiring the correct staff, which can cost you time and…
Q: Inventory is the raw materials, work-in-process products and finished goods from the portion of a…
A: Effectiveness of perpetual inventory for the food service organization Controlling stock levels is…
Q: a) Based on the given information regarding the activities for the project, the project completion…
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: Company
A: The largest beverage corporation in the world is The Coca-Cola Company. According to a Fortune 2009…
Q: Which of the following is NOT true about crashing a project? O Never shorten an activity that is not…
A: A method of compressing the timetable is project crashing. It's most frequently employed when a…
Q: The disadvantage of subcontracting is the possible high turnover rate and tired workers. True…
A: Subcontracting refers to hiring an individual or a company to perform a part of job on behalf of the…
Q: K Beth Zion Hospital has received initial certification from the state of California to become a…
A: Given- Learning curve = 75%Time for first transplant = 27 hoursCost per hour = $5000From…
Q: A small candy shop is preparing for the holiday season. The owner must decide how many bags of…
A: Given data is Bag Required peanut Required raisin Selling price Standard 0.5 0.5 $3.75 Delux…
Q: To what extent do the most common error messages differ, and what do they typically indicate?
A: ANSWER : An error message is information displayed when an unforeseen issue occurs, typically on a…
Q: How does operation management affects the profitability of a business?
A: A business operations manager is involved in many facets of the organization and is responsible for…
Q: In Exercises 9-20, use the simplex method to solve the given linear programming problem. (In each…
A: Given- Max Z=5x1+2x2+8x3Subject to-2x1-4x2+x3=422x1+3x2-x3=426x1-x2+3x3=42x1,x2,x3≥0
Q: discuss the benefits of FMECA in the overall maintenance management.
A: Failure modes, effects, and criticality analysis, or FMECA, is a methodical and proactive process…
Q: Wiebe Trucking, Inc., is planning a new warehouse to serve the western United States. Denver, Santa…
A: Find the Calculation methods below: Total Cost = (Annual Fixed cost + (Variable cost x Sales range)…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- In this version of dice blackjack, you toss a single die repeatedly and add up the sum of your dice tosses. Your goal is to come as close as possible to a total of 7 without going over. You may stop at any time. If your total is 8 or more, you lose. If your total is 7 or less, the house then tosses the die repeatedly. The house stops as soon as its total is 4 or more. If the house totals 8 or more, you win. Otherwise, the higher total wins. If there is a tie, the house wins. Consider the following strategies: Keep tossing until your total is 3 or more. Keep tossing until your total is 4 or more. Keep tossing until your total is 5 or more. Keep tossing until your total is 6 or more. Keep tossing until your total is 7 or more. For example, suppose you keep tossing until your total is 4 or more. Here are some examples of how the game might go: You toss a 2 and then a 3 and stop for total of 5. The house tosses a 3 and then a 2. You lose because a tie goes to the house. You toss a 3 and then a 6. You lose. You toss a 6 and stop. The house tosses a 3 and then a 2. You win. You toss a 3 and then a 4 for total of 7. The house tosses a 3 and then a 5. You win. Note that only 4 tosses need to be generated for the house, but more tosses might need to be generated for you, depending on your strategy. Develop a simulation and run it for at least 1000 iterations for each of the strategies listed previously. For each strategy, what are the two values so that you are 95% sure that your probability of winning is between these two values? Which of the five strategies appears to be best?In Example 11.1, the possible profits vary from negative to positive for each of the 10 possible bids examined. a. For each of these, use @RISKs RISKTARGET function to find the probability that Millers profit is positive. Do you believe these results should have any bearing on Millers choice of bid? b. Use @RISKs RISKPERCENTILE function to find the 10th percentile for each of these bids. Can you explain why the percentiles have the values you obtain?You now have 10,000, all of which is invested in a sports team. Each year there is a 60% chance that the value of the team will increase by 60% and a 40% chance that the value of the team will decrease by 60%. Estimate the mean and median value of your investment after 50 years. Explain the large difference between the estimated mean and median.
- A common decision is whether a company should buy equipment and produce a product in house or outsource production to another company. If sales volume is high enough, then by producing in house, the savings on unit costs will cover the fixed cost of the equipment. Suppose a company must make such a decision for a four-year time horizon, given the following data. Use simulation to estimate the probability that producing in house is better than outsourcing. If the company outsources production, it will have to purchase the product from the manufacturer for 25 per unit. This unit cost will remain constant for the next four years. The company will sell the product for 42 per unit. This price will remain constant for the next four years. If the company produces the product in house, it must buy a 500,000 machine that is depreciated on a straight-line basis over four years, and its cost of production will be 9 per unit. This unit cost will remain constant for the next four years. The demand in year 1 has a worst case of 10,000 units, a most likely case of 14,000 units, and a best case of 16,000 units. The average annual growth in demand for years 2-4 has a worst case of 7%, a most likely case of 15%, and a best case of 20%. Whatever this annual growth is, it will be the same in each of the years. The tax rate is 35%. Cash flows are discounted at 8% per year.Assume that the payoff table provides cost rather than profit payoffs. What isthe recommended decision using:i. the optimistic approachii. the conservative approachiii. the minimax regret approachiv. the Laplace methodWhich of the following is true? a)The maximin criterion is an approach in Optimization under uncertainty which finds a solution that has the best possible payoff. b)The maximin criterion is an approach in Optimization under uncertainty which finds a solution with the best worst possible payoff. c)A risk profile represents the probability distribution of uncertain inputs. d)Decision tree is a method to solve any optimization problem when the outcomes are subject to uncertainty.
- Which of the following types of mortgage loans is presumed to feature points or fees not excending 3%, a maximum term not to exceed 30 years, and no risky features (such as negative amortization, interest-only, or balloon loans)? A) A qualified mortgage B) A conventional mortgage C) A non-qualified mortgage D) A home equity line of credit (HELOC) mortgageProblem 16-15 (Algorithmic) Strassel Investors buys real estate, develops it, and resells it for a profit. A new property is available, and Bud Strassel, the president and owner of Strassel Investors, believes if he purchases and develops this property it can then be sold for $160,000. The current property owner has asked for bids and stated that the property will be sold for the highest bid in excess of $100,000. Two competitors will be submitting bids for the property. Strassel does not know what the competitors will bid, but he assumes for planning purposes that the amount bid by each competitor will be uniformly distributed between $100,000 and $150,000. Develop a worksheet that can be used to simulate the bids made by the two competitors. Strassel is considering a bid of $130,000 for the property. Using a simulation of 1000 trials, what is the estimate of the probability Strassel will be able to obtain the property using a bid of $130,000? Round your answer to 1 decimal place.…WHAT WLL HAPPEN IF THERE IS A CHANGE IS ONE OF THE OBJECTIVE FUNCTION COEFFICIENT? A. SLOPE OF THE OBJECTIVE FUNCTION LINE ALWAYS WILL CHANGE B. OPTIMAL SOLUTION ALWAYS WILL CHANGE C. ONE OR MORE OF THE DECISION VARIABLES ALWAYS WILL CHANGE D. ALL OF THE ABOVE E. NONE OF THE ABOVE
- A desk contains three drawers. Drawer 1 contains twogold coins. Drawer 2 contains one gold coin and one silvercoin. Drawer 3 contains two silver coins. I randomly choosea drawer and then randomly choose a coin. If a silver coinis chosen, what is the probability that I chose drawer 3?Fopic 4- Linear Programming: Appli eBook Problem 9-05 (Algorithmic) Kilgore's Deli is a small delicatessen located near a major university. Kilgore's does a large walk-in carry-out lunch business. The deli offers two luncheon chili specials, Wimpy and Dial 911. At the beginning of the day, Kilgore needs to decide how much of each special to make (he always sells out of whatever he makes). The profit on one serving of Wimpy is $0.46, on one serving of Dial 911, $0.59. Each serving of Wimpy requires 0.26 pound of beef, 0.26 cup of onions, and 6 ounces of Kilgore's special sauce. Each serving of Dial 911 requires 0.26 pound of beef, 0.41 cup of onions, 3 ounces of Kilgore's special sauce, and 6 ounces of hot sauce. Today, Kilgore has 21 pounds of beef, 16 cups of onions, 89 ounces of Kilgore's special sauce, and 61 ounces of hot sauce on hand. a. Develop a linear programming model that will tell Kilgore how many servings of Wimpy and Dial 911 to make in order to maximize his profit today.…21. A retirement community restricts buyers to people 55 years and older. How will this restriction affect the value of the property? The value of the property will be higher due to the value characteristic of demand. The value of the property will be less due to the value characteristic of transferability. This restriction will not have any affect on the value of the property. The value of the property will be less due to the value characteristic of scarcity.