Solve the following graphically: Minimize 14x + 30y s.t. 2x+5y≤200 7x+15y ≥ 420 x ≤2y x, y ≥0 The following solution is an optimal solution: HINT: The only correct answer listed below might not be a corner point! x=0 and y=40 x=60 and y=0 x=15 and y=21 x=0 and y=0
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- The eTech Company is a fairly recent entry in the electronic device area. The company competes with Apple. Samsung, and other well-known companies in the manufacturing and sales of personal handheld devices. Although eTech recognizes that it is a niche player and will likely remain so in the foreseeable future, it is trying to increase its current small market share in this huge competitive market. Jim Simons, VP of Production, and Catherine Dolans, VP of Marketing, have been discussing the possible addition of a new product to the companys current (rather limited) product line. The tentative name for this new product is ePlayerX. Jim and Catherine agree that the ePlayerX, which will feature a sleeker design and more memory, is necessary to compete successfully with the big boys, but they are also worried that the ePlayerX could cannibalize sales of their existing productsand that it could even detract from their bottom line. They must eventually decide how much to spend to develop and manufacture the ePlayerX and how aggressively to market it. Depending on these decisions, they must forecast demand for the ePlayerX, as well as sales for their existing products. They also realize that Apple. Samsung, and the other big players are not standing still. These competitors could introduce their own new products, which could have very negative effects on demand for the ePlayerX. The expected timeline for the ePlayerX is that development will take no more than a year to complete and that the product will be introduced in the market a year from now. Jim and Catherine are aware that there are lots of decisions to make and lots of uncertainties involved, but they need to start somewhere. To this end. Jim and Catherine have decided to base their decisions on a planning horizon of four years, including the development year. They realize that the personal handheld device market is very fluid, with updates to existing products occurring almost continuously. However, they believe they can include such considerations into their cost, revenue, and demand estimates, and that a four-year planning horizon makes sense. In addition, they have identified the following problem parameters. (In this first pass, all distinctions are binary: low-end or high-end, small-effect or large-effect, and so on.) In the absence of cannibalization, the sales of existing eTech products are expected to produce year I net revenues of 10 million, and the forecast of the annual increase in net revenues is 2%. The ePIayerX will be developed as either a low-end or a high-end product, with corresponding fixed development costs (1.5 million or 2.5 million), variable manufacturing costs ( 100 or 200). and selling prices (150 or 300). The fixed development cost is incurred now, at the beginning of year I, and the variable cost and selling price are assumed to remain constant throughout the planning horizon. The new product will be marketed either mildly aggressively or very aggressively, with corresponding costs. The costs of a mildly aggressive marketing campaign are 1.5 million in year 1 and 0.5 million annually in years 2 to 4. For a very aggressive campaign, these costs increase to 3.5 million and 1.5 million, respectively. (These marketing costs are not part of the variable cost mentioned in the previous bullet; they are separate.) Depending on whether the ePlayerX is a low-end or high-end produce the level of the ePlayerXs cannibalization rate of existing eTech products will be either low (10%) or high (20%). Each cannibalization rate affects only sales of existing products in years 2 to 4, not year I sales. For example, if the cannibalization rate is 10%, then sales of existing products in each of years 2 to 4 will be 10% below their projected values without cannibalization. A base case forecast of demand for the ePlayerX is that in its first year on the market, year 2, demand will be for 100,000 units, and then demand will increase by 5% annually in years 3 and 4. This base forecast is based on a low-end version of the ePlayerX and mildly aggressive marketing. It will be adjusted for a high-end will product, aggressive marketing, and competitor behavior. The adjustments with no competing product appear in Table 2.3. The adjustments with a competing product appear in Table 2.4. Each adjustment is to demand for the ePlayerX in each of years 2 to 4. For example, if the adjustment is 10%, then demand in each of years 2 to 4 will be 10% lower than it would have been in the base case. Demand and units sold are the samethat is, eTech will produce exactly what its customers demand so that no inventory or backorders will occur. Table 2.3 Demand Adjustments When No Competing Product Is Introduced Table 2.4 Demand Adjustments When a Competing Product Is Introduced Because Jim and Catherine are approaching the day when they will be sharing their plans with other company executives, they have asked you to prepare an Excel spreadsheet model that will answer the many what-if questions they expect to be asked. Specifically, they have asked you to do the following: You should enter all of the given data in an inputs section with clear labeling and appropriate number formatting. If you believe that any explanations are required, you can enter them in text boxes or cell comments. In this section and in the rest of the model, all monetary values (other than the variable cost and the selling price) should be expressed in millions of dollars, and all demands for the ePlayerX should be expressed in thousands of units. You should have a scenario section that contains a 0/1 variable for each of the binary options discussed here. For example, one of these should be 0 if the low-end product is chosen and it should be 1 if the high-end product is chosen. You should have a parameters section that contains the values of the various parameters listed in the case, depending on the values of the 0/1 variables in the previous bullet For example, the fixed development cost will be 1.5 million or 2.5 million depending on whether the 0/1 variable in the previous bullet is 0 or 1, and this can be calculated with a simple IF formula. You can decide how to implement the IF logic for the various parameters. You should have a cash flows section that calculates the annual cash flows for the four-year period. These cash flows include the net revenues from existing products, the marketing costs for ePlayerX, and the net revenues for sales of ePlayerX (To calculate these latter values, it will help to have a row for annual units sold of ePlayerX.) The cash flows should also include depreciation on the fixed development cost, calculated on a straight-line four-year basis (that is. 25% of the cost in each of the four years). Then, these annual revenues/costs should be summed for each year to get net cash flow before taxes, taxes should be calculated using a 32% tax rate, and taxes should be subtracted and depreciation should be added back in to get net cash flows after taxes. (The point is that depreciation is first subtracted, because it is not taxed, but then it is added back in after taxes have been calculated.) You should calculate the company's NPV for the four-year horizon using a discount rate of 10%. You can assume that the fixed development cost is incurred now. so that it is not discounted, and that all other costs and revenues are incurred at the ends of the respective years. You should accompany all of this with a line chart with three series: annual net revenues from existing products; annual marketing costs for ePlayerX; and annual net revenues from sales of ePlayerX. Once all of this is completed. Jim and Catherine will have a powerful tool for presentation purposes. By adjusting the 0/1 scenario variables, their audience will be able to see immediately, both numerically and graphically, the financial consequences of various scenarios.Please help with correct answers in details: step by step Q1 The optimal solution of this linear programming problem is at the intersection of constraints 1 and 2. Max 3x1 + x2 s.t. 4x1 + x2 ≤ 400 4x1 + 3x2 ≤ 600 x1 + 2x2 ≤ 300 x1, x2 ≥ 0 Over what range can the coefficient of x1 vary before the current solution is no longer optimal? (Round your answers to two decimal places.) ______ to ______? Over what range can the coefficient of x2 vary before the current solution is no longer optimal? (Round your answers to two decimal places.) _______ to _______? Compute the dual value for the first constraint. _______ Compute the dual value for the second constraint. _______ Compute the dual value for the third constraint. _______We have 60 meters of fence and want to fence a triangular shaped area. Please formulate an NLP (do not try to solve) that will enable us to maximize the fenced area (Hint: The area of a triangle with sides of length a, b, and c is ( s (s – a) (s – b) (s – c))1/2, where s is half the parameter of the triangle).
- Determine whether the problem has multiple solutions, unbounded solutions, or no feasible solutions.Maximize z = 10x1 + 11x2 + 7x3, subject to 2x1 + 3x2 − 9x3 ≤ 72 2x1 + 5x2 − 10x3 ≥ 100 x1 ≥ 0, x2 ≥ 0, x3 ≥ 0 The problem has multiple solutions. The problem has unbounded solutions. T he problem has no feasible solutions.Do you agree or disagree with the following statements? Match accordingly For a convex programming problem, a local optimum is not a global optimum KKT conditions can be used to determine the optimality of a potential solution for generally constrained problems For convex programming problems, if an objective function is being maximized, it is required to be convex and if it is being minimized it is required to be concaveManaging a Portfolio. A local bank wants to build a bond portfolio from a set of five bonds with $1 million available for investment. The expected annual return, the worst-case annual return on each bond, and the “duration” of each bond are given in the following table. (The duration of a bond is a measure of the bond’s sensitivity to changes in interest rates.)Expected Return Worst Case Return DurationBond 1 12.5% 8.0% 8Bond 2 11.5% 7.5% 7Bond 3 10.5% 6.8% 6Bond 4 9.5% 7.0% 5Bond 5 8.5% 7.4% 3The bank wants to maximize the expected return from its bond investments, subject to three conditions: The average worst-case return for the portfolio must be at least 7.2 percent.The average duration of the portfolio must be at most 6.Because of diversification requirements, at most 40 percent of the total amount invested can be invested in a single bond.What is the maximum return on the $1 million investment? How should the investment be…
- Find the optimal solution for the following problem. Maximize C = 4x + 12y subject to 3x + 5y ≤ 12 6x + 2y ≤ 10 and x ≥ 0, y ≥ 0. What is the optimal value of x? What is the optimal value of y? (Round your answer to 3 decimal places.) What is the maximum value of the objective function? (Round your answer to 3 decimal places.)An Insurance Company is introducing two new product lines: special risk insuranceand mortgages. The expected profit is $5 per unit on special risk insurance and $2 per unit onmortgages. Management wishes to establish sales quotas for the new product lines tomaximize total expected profit. Please see figure for work requirements. The sensitivity report for this optimization problem is given in the following figure 1 - Can you determine the optimal value (maximum expected profit) based on the sensitivityreport? 2 - Identify the non-binding constraint(s).Use the table below to answer the questions that follow and caculate the Expected Monetary Value(EMV) of the different outcomesDECISION TABLE WITH CONDITIONAL VALUESSTATE OF NATUREFAVORABLE OUTCOME UNFAVORABLE OUTCOMEALTERNATIVES ($) ($)Start a big Company 2,000,000 -500,000Start a small company 800,000 -200,000Build Nothing 0 0Probabilities 0.3 0.7Calculate the following The EMV Maximin criterion Maximax criterion Minimax criterion
- Set up the simplex matrix used to solve the linear programming problem. Assume all variables are nonnegative. Maximize f = 8x + 9y + 3z subject to 2x + 7y + 8z ≤ 100 6x + 3y + z ≤ 160 3x + 4y + 9z ≤ 10 .An investor is considering investing in stocks, real estate, or bonds economic conditions. Suppose that the probabilities for good, stable and poor conditions are 0.2, 0.4 and … (figure it out), respectively. Table 1 shows the payoff returns for the investor’s decision situation. Table 1: Investment returns Economic Conditions Investment Good Stable Poor Stocks R5 000 R7 000 R3 000 Real estate -R2 000 R10 000 R6 000 Bonds R4 000 R4 000 R4 000 Assuming the probabilities of the occurrence of the state of nature are unknown, what will be the best investment alternative; a) If the decision maker is pessimistic about the future state, (3) b) If the decision maker strikes a compromise between the maximin and maximax, assuming the coefficient of pessimism is 0.2. (4) c) If the decision is based on opportunistic loss. (6) d) If we use the equally likelihood criterionAnalyze algebraically what special case in simplex application is present in each of the LP model below. Give an explanation to support your answer. a) Maximize z = 4x1 + 2x2 Subject to: 2x1 - x2 ≤ 2 3x1 - 4x2 ≤ 8 x1, x2 ≥ 0b) Maximize z = 3x1 + 2x2 Subject to: 4x1 - x2 ≤ 8 4x1 + 3x2 ≤ 12 4x1 + x2 ≤ 8 x1, x2 ≥ 0