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Chapter 12

1. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment:

Gasoline Availability

Investment Shortage Stable Supply Surplus

Motel $-8,000 $15,000 $20,000

Restaurant 2,000 8,000 6,000

Theater 6,000 6,000 5,000

Determine the best investment, using the following decision criteria.

a. Maximax

b. Maximin

c. Minimax regret

d. Hurwicz (α = 0.4)

e. Equal likelihood

B A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College Junction, where the game is to be held. The manager estimates that the following profits will result from each decision, given each set of weather conditions:

Weather Conditions

Decision Rain Overcast Sunshine

.30 .15 .55

Sun visors $-500 $-200 $1,500

Umbrellas 2,000 0 -900

a.…...

...MAT 540 Week 7 Homework Click below link for Answer http://workbank247.com/q/mat-540-week-7-homework/3681 http://workbank247.com/q/mat-540-week-7-homework/3681 Chapter 3 8. Solve the model formulated in Problem 7 for Southern Sporting Goods Company using the computer. a. State the optimal solution. b. What would be the effect on the optimal solution if the profit for a basketball changed from $12 to $13? What would be the effect if the profit for a football changed from $16 to $15? c. What would be the effect on the optimal solution if 500 additional pounds of rubber could be obtained? What would be the effect if 500 additional square feet of leather could be obtained? Reference Problem 7. Southern Sporting Good Company makes basketballs and footballs. Each product is produced from two resources rubber and leather. The resource requirements for each product and the total resources available are as follows: | Resource Requirements per Unit | Product | Rubber (lb.) | Leather (ft2) | Basketball | 3 | 4 | Football | 2 | 5 | Total resources available | 500 lb. | 800 ft2 | 10. A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product must be processed on two assembly lines, where the required production times are as follows: | Hours/ Unit | Product | Line 1 | Line2 | A | 12 | 4 | B | 4 | 8 | Total Hours | 60 | 40 | a. Formulate a linear programming model to......

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...MAT 540 Week 8 Homework Click below link for Answer http://workbank247.com/q/mat-540-week-8-homework/4118 Chapter 4 14. Grafton Metalworks Company produces metal alloys from six different ores it mines. The company has an order from a customer to produce an alloy that contains four metals according to the following specifications: at least 21% of metal A, no more than 12% of metal B, no more than 7% of metal C and between 30% and 65% of metal D. The proportion of the four metals in each of the six ores and the level of impurities in each ore are provided in the following table: Ore | Metal (%) | Impurities (%) | Cost/Ton | | A | B | C | D | | | 1 | 19 | 15 | 12 | 14 | 40 | 27 | 2 | 43 | 10 | 25 | 7 | 15 | 25 | 3 | 17 | 0 | 0 | 53 | 30 | 32 | 4 | 20 | 12 | 0 | 18 | 50 | 22 | 5 | 0 | 24 | 10 | 31 | 35 | 20 | 6 | 12 | 18 | 16 | 25 | 29 | 24 | When the metals are processed and refined, the impurities are removed. The company wants to know the amount of each ore to use per ton of the alloy that will minimize the cost per ton of the alloy. a. Formulate a linear programming model for this problem. b. Solve the model by using the computer. 19. As a result of a recently passed bill, a congressman’s district has been allocated $4 million for programs and projects. It is up to the congressman to decide how to distribute the money. The congressman has decided to allocate the money to four ongoing programs because of their......

Words: 1320 - Pages: 6

...MAT 540 Week 8 Homework Click below link for Answer http://workbank247.com/q/mat-540-week-8-homework/4118 Chapter 4 14. Grafton Metalworks Company produces metal alloys from six different ores it mines. The company has an order from a customer to produce an alloy that contains four metals according to the following specifications: at least 21% of metal A, no more than 12% of metal B, no more than 7% of metal C and between 30% and 65% of metal D. The proportion of the four metals in each of the six ores and the level of impurities in each ore are provided in the following table: Ore | Metal (%) | Impurities (%) | Cost/Ton | | A | B | C | D | | | 1 | 19 | 15 | 12 | 14 | 40 | 27 | 2 | 43 | 10 | 25 | 7 | 15 | 25 | 3 | 17 | 0 | 0 | 53 | 30 | 32 | 4 | 20 | 12 | 0 | 18 | 50 | 22 | 5 | 0 | 24 | 10 | 31 | 35 | 20 | 6 | 12 | 18 | 16 | 25 | 29 | 24 | When the metals are processed and refined, the impurities are removed. The company wants to know the amount of each ore to use per ton of the alloy that will minimize the cost per ton of the alloy. a. Formulate a linear programming model for this problem. b. Solve the model by using the computer. 19. As a result of a recently passed bill, a congressman’s district has been allocated $4 million for programs and projects. It is up to the congressman to decide how to distribute the money. The congressman has decided to allocate the money to four ongoing programs because of their......

Words: 1320 - Pages: 6

...MAT 540 Week 8 Homework Chapter 4 14. Grafton Metalworks Company produces metal alloys from six different ores it mines. The company has an order from a customer to produce an alloy that contains four metals according to the following specifications: at least 21% of metal A, no more than 12% of metal B, no more than 7% of metal C and between 30% and 65% of metal D. The proportion of the four metals in each of the six ores and the level of impurities in each ore are provided in the following table: Ore | Metal (%) | Impurities (%) | Cost/Ton | | A | B | C | D | | | 1 | 19 | 15 | 12 | 14 | 40 | 27 | 2 | 43 | 10 | 25 | 7 | 15 | 25 | 3 | 17 | 0 | 0 | 53 | 30 | 32 | 4 | 20 | 12 | 0 | 18 | 50 | 22 | 5 | 0 | 24 | 10 | 31 | 35 | 20 | 6 | 12 | 18 | 16 | 25 | 29 | 24 | When the metals are processed and refined, the impurities are removed. The company wants to know the amount of each ore to use per ton of the alloy that will minimize the cost per ton of the alloy. a. Formulate a linear programming model for this problem. b. Solve the model by using the computer. 19. As a result of a recently passed bill, a congressman’s district has been allocated $4 million for programs and projects. It is up to the congressman to decide how to distribute the money. The congressman has decided to allocate the money to four ongoing programs because of their importance to his district – a job training program, a parks project, a sanitation project,......

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...MAT 540 Week 9 Homework CH 5 Chapter 5 6. The Livewright Medical Supplies Company has a total of 12 salespeople it wants to assign to three regions – the South, the East, and the Midwest. A salesperson in the South earns $600 in profit per month of the company, a salesperson in the East earns $540, and a salesperson in the Midwest earns $375. The southern region can have a maximum assignment of 5 salespeople. The company has a total of $750 per day available for expenses for all 12 salespeople. A salesperson in the South has average expenses of $80 per day, a salesperson in the East has average expenses of $70 per day, and a salesperson in the Midwest has average daily expenses of $50. The company wants to determine the number of salespeople to assign to each region to maximize profit. a. Formulate an integer programming model for this problem b. Solve this model by using the computer. 10. Solve the following mixed integer linear programming model by using the computer: Maximize Z = 5 x1 + 6 x2 + 4 x3 Subject to 5 x1 + 3 x2 + 6 x3 ≤ 20 x1 + 3 x2 ≤ 12 x1, x3 ≥ 0 x2 ≥ 0 and integer 14. The Texas Consolidated Electronics Company is contemplating a research and development program encompassing eight research projects. The company is constrained from embarking on all projects by the number of available management scientists (40) and the budget available for R&D projects ($300,000). Further, if project 2 is selected,......

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...MATH 540 Week 1 HomeWork - Latest 2015 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MATH-540-Week-1-HomeWork-Latest-2015-783333322.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $55,000.The variable cost of recapping a tire is $8.The company charges $21 to recap a tire. a. For an annual volume of 10,000 tires, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $30,000, and its variable cost per pound of fertilizer is $0.16. Evergreen sells the fertilizer for $0.40 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in Problem 2 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume? 4. If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 2? 5. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home......

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...MATH 540 Week 1 HomeWork - Latest 2015 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MATH-540-Week-1-HomeWork-Latest-2015-783333322.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $55,000.The variable cost of recapping a tire is $8.The company charges $21 to recap a tire. a. For an annual volume of 10,000 tires, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $30,000, and its variable cost per pound of fertilizer is $0.16. Evergreen sells the fertilizer for $0.40 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in Problem 2 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume? 4. If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 2? 5. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home......

Words: 934 - Pages: 4

...MAT 540 Week 2 Homework - latest 2015 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MAT-540-Week-2-Homework-latest-2015-539000032.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Chapter 12 1. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment: Gasoline Availability Investment Shortage Stable Supply Surplus Motel $-8,000 $15,000 $20,000 Restaurant 2,000 8,000 6,000 Theater 6,000 6,000 5,000 Determine the best investment, using the following decision criteria. a. Maximax b. Maximin c. Minimax regret d. Hurwicz (α = 0.4) e. Equal likelihood B A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College...

Words: 809 - Pages: 4

...MATH 540 Week 1 HomeWork - Latest 2015 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MATH-540-Week-1-HomeWork-Latest-2015-783333322.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $55,000.The variable cost of recapping a tire is $8.The company charges $21 to recap a tire. a. For an annual volume of 10,000 tires, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $30,000, and its variable cost per pound of fertilizer is $0.16. Evergreen sells the fertilizer for $0.40 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in Problem 2 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume? 4. If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 2? 5. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home......

Words: 934 - Pages: 4

...MAT 540 Week 2 Homework - latest 2015 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MAT-540-Week-2-Homework-latest-2015-539000032.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Chapter 12 1. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment: Gasoline Availability Investment Shortage Stable Supply Surplus Motel $-8,000 $15,000 $20,000 Restaurant 2,000 8,000 6,000 Theater 6,000 6,000 5,000 Determine the best investment, using the following decision criteria. a. Maximax b. Maximin c. Minimax regret d. Hurwicz (α = 0.4) e. Equal likelihood B A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College...

Words: 809 - Pages: 4

...MAT 540 Week 8 Homework Download A+++ plgrism free and 100% accurate answer from here http://www.homeworkmarket.com/content/mat-540-week-8-homework-0 MAT 540 Week 8 Homework Chapter 4 14. Grafton Metalworks Company produces metal alloys from six different ores it mines. The company has an order from a customer to produce an alloy that contains four metals according to the following specifications: at least 21% of metal A, no more than 12% of metal B, no more than 7% of metal C and between 30% and 65% of metal D. The proportion of the four metals in each of the six ores and the level of impurities in each ore are provided in the following table: Ore Metal (%) Impurities (%) Cost/Ton A B C D 1 19 15 12 14 40 27 2 43 10 25 7 15 25 3 17 0 0 53 30 32 4 20 12 0 18 50 22 5 0 24 10 31 35 20 6 12 18 16 25 29 24 When the metals are processed and refined, the impurities are removed. The company wants to know the amount of each ore to use per ton of the alloy that will minimize the cost per ton of the alloy. a. Formulate a linear programming model for this problem. b. Solve the model by using the computer. 19. As a result of a recently passed bill, a congressman’s district has been allocated $4 million for programs and projects. It is up to the congressman to decide how to distribute the money. The congressman has decided to allocate the money to four ongoing programs because of their importance to his district – a job training program, a parks......

Words: 1359 - Pages: 6

Words: 934 - Pages: 4

...MAT 540 Week 2 Homework - latest 2015 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MAT-540-Week-2-Homework-latest-2015-539000032.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Chapter 12 1. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment: Gasoline Availability Investment Shortage Stable Supply Surplus Motel $-8,000 $15,000 $20,000 Restaurant 2,000 8,000 6,000 Theater 6,000 6,000 5,000 Determine the best investment, using the following decision criteria. a. Maximax b. Maximin c. Minimax regret d. Hurwicz (α = 0.4) e. Equal likelihood B A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College...

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...MAT 540 Week 4 Homework MAT 540 Week 6 Homework Click below link for Answer visit www.workbank247.com http://workbank247.com/q/mat540-mat-540-complete-course-week-1-to-week-11-l/11635 http://workbank247.com/q/mat540-mat-540-complete-course-week-1-to-week-11-l/11635 MAT 540 Week 4 Discussion Discuss Forecasting Methods Select one (1) of the following topics for your primary discussion posting: * Identify any challenges you have in setting up a time-series analysis in Excel. Explain what they are and why they are challenging. Identify resources that can help you with that. * Explain how forecasting is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting. MAT 540 Week 4 Homework MAT540 Homework Week 4 Page 1 of 5 MAT540 Week 4 Homework Chapter 15 1. The manager of the Carpet City outlet needs to make an accurate forecast of the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill, customer will buy their carpet from one of Carpet City’s many competitors. The manager has collected the following demand data for the past 8 months: Month Demand for Soft Shag Carpet (1,000 yd.) 1 10 2 9 3 8 4 9 5 10 6 12 7 14 8 11 a. Compute a 3-month moving average forecast for months 4 through 9. b. Compute a weighted 3-month moving average forecast for months 4 through 9. Assign weights of 0.55, 0.35, and 0.10 to the months in......

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... MAT 540 MAT540 Complete Homework Assignment Click below link for Answer or visit www.workbank247.com http://workbank247.com/q/mat540-week-1-to-week-11-homework-latest-2015/10483 http://workbank247.com/q/mat540-week-1-to-week-11-homework-latest-2015/10483 MAT540 Week 1 Homework Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $55,000.The variable cost of recapping a tire is $8.The company charges $21 to recap a tire. a. For an annual volume of 10,000 tires, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $30,000, and its variable cost per pound of fertilizer is $0.16. Evergreen sells the fertilizer for $0.40 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in Problem 2 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume? 4. If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 2? 5. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home games. There are seven home games scheduled for the...

Words: 7099 - Pages: 29