Milford Lumber Company ships construction materials from three wood-processing plants to three retail stores. The shipping cost, monthly production capacities, and monthly demand for framing lumber are given below. Plant 1 2 Store B $7.80 $6.10 $7.10 $3.90 3 $4.60 $3.90 Demand 300 530 350 Formulate a linear optimization model for this problem, implement your model on a spreadsheet, and use Excel Solver to find a solution that minimizes total distribution costs If the constant is equal to one, enter "1". Let: Store A $4.40 $6.00 $4.80 X11 = number of components produced in Plant 1 and supplied to Store A X12 = number of components produced in Plant 1 and supplied to Store B X13 = number of components produced in Plant 1 and supplied to Store C X21 = number of components produced in Plant 2 and supplied to Store A X22 = number of components produced in Plant 2 and supplied to Store B X23 = number of components produced in Plant 2 and supplied to Store C X31 = number of components produced in Plant 3 and supplied to Store A X32 = number of components produced in Plant 3 and supplied to Store B X33 = number of components produced in Plant 3 and supplied to Store C Store C Capacity 280 480 450
Q: Please do this short answer problem and use the table in the picture A pharmaceutical company is…
A: Decision alternativeSuccessful applicationUnsuccessful applicationApply for FDA3000000-1500000Don’t…
Q: Coleman Rich Control Devices, Inc., produces custom-built relay devices for auto makers. The most…
A: Project Evaluation and Review Technique-PERT is like CPM but here the activity times are variable…
Q: When using a column chart it is best to use_ over 25 bars. no more than 10 bars. 20 bars or less.…
A: Business charts are the visual representation of the data that is used by the organization to convey…
Q: How many extreme points did you find? 5 4 6 3
A: Let me state the given data, For this problem, I will use the graphical method to determine the…
Q: Development of Version 2.0 of a particular accounting software product is being considered by Jose…
A: Find the Given details below:
Q: Analyse the impact of the macro-business environment on Toyota’s organisational change and business…
A: The contemporary business landscape is marked by rapid and transformative changes driven by various…
Q: Powell Motors, an automobile manufacturing company, is interested in purchasing new air filters for…
A: Performance scores provide a systematic way with the help of an organization to monitor how well…
Q: A linear programming computer package is needed. The Westchester Chamber of Commerce periodically…
A: ConstraintTelevisionRadioNewspaperAudience per advertisement300,00054,000120,000Cost per…
Q: By how many days should each activity be crashed to reduce the project completion time by 4 days?…
A: For this question, I will construct the precedence diagram, I will also determine the slope for each…
Q: Consider the following information, suppose the current day is 15, what is the priority order using…
A: Let me state the given data, For each Job, I will find the critical ratio, then, I can determine the…
Q: Romans sells the Regular blend for $3.60 per pound and the DeCaf blend for $4.40 per pound. Romans…
A: Linear programming helps us to find the optimal solution/best outcome, within the given…
Q: Which of the following sectoral costs across East Africa presents the greatest advantage to the…
A: The location decisions are one the most important decisions for any business. It helps to identify…
Q: What are order cycle costs if annual demand is 9,600 units, the order quantity is 2,000 units, and…
A: For the given data, I will determine the order cycle costs, The rest of the answers are shown below,…
Q: a. Compute the multifactor productivity for each location. (Do not round intermediate calculations.…
A: Location 1Location 2Location 3Overhead cost per hour4.375.495.02Labor cost per hour per…
Q: Leilani Lavender's law office has traditionally ordered ink refills 65 units at a time. The firm…
A: Annual demand (D) = 235 unitsCarrying Cost per Unit (H) = 45% * $9 = $4.05EOQ (Q) = 65 units
Q: What are 3 examples of factors that can affect the robustness of an analytical method?
A: Analytical methods can be defined as the tools, techniques, process and procedures which aids in…
Q: a) Using a 2-year moving average, the forecast for year 6= miles (round your response to the nearest…
A: Forecasting means predicting the future. Since the future is uncertain, various methods of…
Q: How can you make sure that you spend sufficient time being proactive and engaging in analysis and…
A: The capacity to be proactive and participate in strategic thinking is crucial for both personal and…
Q: Describe the concept of database sharding in detail, including the various sharding techniques and…
A: Modern database architecture's essential notion of database sharding is typically used in…
Q: A publisher estimates the annual demand for a book to be 8000 copies, and built a warehouse to…
A: D (annual demand) = 8000 copiesS (setup cost per order) = $1000H (holding cost per unit per year) =…
Q: The quality journey provides a framework for project quality management. Its seven steps prescribe…
A: Project managers and team members can utilize the quality journey, an outline for project quality…
Q: Problem 5-17 (Static) The following diagram describes a process that consists of eight separate…
A: Process capacity refers to the maximum output that a process can deliver within the stipulated time.…
Q: Identify categories/ parties that could participate as project sponsors in a project outlining their…
A: Project sponsors are key individuals or entities that play a pivotal role in the initiation,…
Q: Refer to the following payoff table in which D1 through D4 represent decision alternatives, S1…
A: Here, I am given the payoff table, I will find the optimal decision under each specific criterion,…
Q: Choose the correct network to represent this situation. DA Which activities are on the critical…
A: A network diagram shows the link between each task and the duration taken by each activity with…
Q: 16. Build-Rite Construction has received favorable publicity from guest appearances on a public TV…
A: AlternativeLowModerateHighHire-$250,000$100,000$625,000subcontract$100,000$150,000$415,000do…
Q: Components that make employee assistance programme effective?
A: Employee Assistance Programs is the vital component of the modern workplace management, aiming to…
Q: Use the weighted unit cost to determine the conceptual cost estimate (using the three-point estimate…
A: For each project number, I will determine the cost and the number of cars, so, first, I will…
Q: A textbook publishing company has compiled data on total annual sales of its business texts for the…
A: YearSales ('000)137.60242.40349.30453.40555.20657.70760.80869.20974.70
Q: Explain the principles of the Kanban methodology.
A: Although it was developed in Japan, the Kanban approach to project management and workflow…
Q: Describe the process of data warehousing and its significance in business intelligence and…
A: In today's data-driven world, businesses generate vast amounts of the data from various sources, as…
Q: How does your understanding of, as well as the physical mapping of the Apple supply chain, help to…
A: Research and Analysis: Start by researching and analyzing the Apple supply chain, including its key…
Q: Consider the following linear program and answer the following questions. Max 3A + 48 s.t. -1A+28≤9…
A: Find the Given details below:
Q: Define virtualization and explain its key benefits in terms of resource utilization and management.
A: Virtualization is the approach that helps multiple virtual models or environments run on a single…
Q: CPU-on-Demand (CPUD) offers real-time high-performance computing services. CPUD owns 1 supercomputer…
A: Waiting time helps in identifying the actual time spent by the customers at the service counter…
Q: 1. Introduction 2. Risk 2.1 Risk defined 2.2 Systemic and Systematic risks 3. Risk Management…
A: Here, I will prepare the risk and risk management report for Alt Energy, This company was founded by…
Q: The correct AOA precedence diagram is shown in
A: The critical path can be determined by AOA or AON diagrams. The AOA diagram depicts the activities…
Q: A drive-through at a Fast Food serves 424 customers over a 10-hour day. On average, a customer…
A: Waiting time is the period of time that a customer has to wait to receive or avail of any type of…
Q: A hospital treating COVID patients needs to buy gloves, gowns, and masks for the health care…
A: Effective supplier management helps an organization maintain and improve the quality of the products…
Q: Given the following information, compute the early, late, and slack times for the project network.…
A: Find the Given details below: ActivityDurationPredecessorLag relationshipsExtra Lag…
Q: At what point in your project does the cost/budget curve peak? 2. What activities are driving the…
A: The given questions are related to project planning and Project planning entails organizing and…
Q: Mark Price, the new productions manager for Speakers and Company, needs to find out which variable…
A: Regression Analysis is a statistical method where individuals and corporations can study the…
Q: Case Study : Williams 3D Printers Book- Introduction to Materials Management, 8th Edition What…
A: General Guidance :The answer provided below has been developed in a clear step by step…
Q: A real estate agent is considering changing her land line phone plan. There are three plans to…
A: A real estate agent has 3 plans to choose from - Plan A, B and C:
Q: Inventory is the term we use to describe the accumulation of materials, customers or information as…
A: Supply Chain Management (SCM) is a systematic approach to manage the seamless flow of information,…
Q: Question 2. Consider the process for a store below. a. What is the bottleneck? Alice A 3 min/cust…
A: Find the Given details below:
Q: STYLE# STYLE DESCRIPTION. 9562 URIT C/B JERSEY CREW W/STRIPES Current Retail: $28.00 Cost: $11.00…
A: A planned order helps with materials and production planning in the field of supply chain management…
Q: Find the Early Start (ES), Early Finish (EF), Late Start (LS) and Late Finish (LF) times for all the…
A: Take the ES of the initial activity as 0. Add duration to this to get EF. This EF will become the ES…
Q: Imagine you could take a tour of the Tesla plant. To prepare for this tour, draw a simple process…
A: NOTE: We are allowed to do only 3 subparts. Output = 500 Time in the process = 3-5 daysNumber of…
Q: programming computer package is needed. The Westchester Chamber of Commerce periodically sponsors…
A: Linear programming helps us to find the resource allocation with given constraintsWe have to find·…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 10 images
- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?Lemingtons is trying to determine how many Jean Hudson dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with mean 400 and standard deviation 100. The contract between Jean Hudson and Lemingtons works as follows. At the beginning of the season, Lemingtons reserves x units of capacity. Lemingtons must take delivery for at least 0.8x dresses and can, if desired, take delivery on up to x dresses. Each dress sells for 160 and Hudson charges 50 per dress. If Lemingtons does not take delivery on all x dresses, it owes Hudson a 5 penalty for each unit of reserved capacity that is unused. For example, if Lemingtons orders 450 dresses and demand is for 400 dresses, Lemingtons will receive 400 dresses and owe Jean 400(50) + 50(5). How many units of capacity should Lemingtons reserve to maximize its expected profit?Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.
- Located in the picturesque Berkshire Mountains of Western Massachusetts, Ski Butternut has been a family-owned, family-oriented ski destination for more than 50 years. The resort includes 22 trails for downhill skiing and snowboarding, two terrain parks for riding, and a dedicated area for snow tubing. Although Ski Butternut hosts some non-ski events during summer and fall, its business goes into high gear when snowy weather arrives, bringing skiers and riders from across Massachusetts, Connecticut, New York, and New Jersey. Matt Sawyer, Ski Butternuts director of marketing, says the primary target market has always been families with young children who are seeking affordable skiing. Everything from the snack-bar menus to the ski-shop merchandise is presented with families in mind. So that parents can have fun in the snow without worry, the resort has a Childrens Center for children who are too young to ski or have no interest. Fifth-graders are invited to ski for free when accompanied by an adult who buys an adult lift ticket. The resort also created two terrain parks for young snowboarders who were clamoring for a more exciting riding experience. Without the terrain parks, Sawyer says, these boarders would have asked their parents to take them to competing mountains in Vermont. Ski Butternuts research shows that first-timers are a particularly important segment, because they tend to have a strong allegiance to the resort where they learn to ski. First-timers typically visit the resort seven times before seeking out more challenging mountains. As a result, Ski Butternut has made teaching first-timers to ski or snowboard one of its specialties. For this market, the resort bundles ski or board rentals, lift tickets, and also offers a wide range of individual and group lessons for all ages and abilities at a value price. Because Ski Butternut has trails for different skill levels, beginners can challenge themselves by changing trails within the resort once they feel confident. Ski Butternut also targets seniors and college students. Knowing that weekends are the busiest period, the resort offers special midweek prices to attract seniors who have free time to ski on weekdays. College students are particularly value-conscious, and they often travel to ski resorts as a group. As a result, Ski Butternut offers weekend and holiday discounts to bring in large numbers of students who would otherwise ski elsewhere. Thanks to Facebook, Twitter, and other social media, students quickly spread the word about special pricing, which enhances Ski Butternuts ability to reach this key segment. In addition, the resort highlights discount pricing for families when targeting specific segments, such as scout troops, military personnel, emergency services personnel, and members of local ski clubs. Another segment Ski Butternut has selected for marketing attention is ski racers. The resort features professional coaching, lessons, and programs for ski racers in the age group of 8 to 20. Sawyer notes that these ski racers are extremely dedicated to training, which means theyre on the slopes as often as possible, a positive for the resorts attendance and revenue. To stay in touch with racers, Ski Butternut has a special website and a dedicated Facebook page. Sawyer conducts up to 1,200 customer surveys every year to better understand who his customers are and what they need. He also compares the results with skiers who visit mountains of a similar size in other areas. Digging deeper, he analyzes data drawn from the ski shops rental business to build a detailed picture of customers demographics, abilities, and preferences. Based on this research, he knows that the typical family at Ski Butternut consists of two children under age 18 who ski or ride, and at least one parent who skis. Because they can obtain so much information from and about their customers, Sawyer and his team are able to make better decisions about the marketing mix for each segment. By better matching the media with the audience, they get a better response from advertising, e-mail messages, and other marketing communications. As one example, they found that 15 percent of the visitors to Ski Butternuts website were using a smartphone to access the site. Sawyer has now created a special version of the site specifically for mobile use and created a text-message contest to engage skiers who have smartphones.16 Of the four categories of variables, which one seems to be the most central to Ski Butternuts segmentation strategy, and why?Located in the picturesque Berkshire Mountains of Western Massachusetts, Ski Butternut has been a family-owned, family-oriented ski destination for more than 50 years. The resort includes 22 trails for downhill skiing and snowboarding, two terrain parks for riding, and a dedicated area for snow tubing. Although Ski Butternut hosts some non-ski events during summer and fall, its business goes into high gear when snowy weather arrives, bringing skiers and riders from across Massachusetts, Connecticut, New York, and New Jersey. Matt Sawyer, Ski Butternuts director of marketing, says the primary target market has always been families with young children who are seeking affordable skiing. Everything from the snack-bar menus to the ski-shop merchandise is presented with families in mind. So that parents can have fun in the snow without worry, the resort has a Childrens Center for children who are too young to ski or have no interest. Fifth-graders are invited to ski for free when accompanied by an adult who buys an adult lift ticket. The resort also created two terrain parks for young snowboarders who were clamoring for a more exciting riding experience. Without the terrain parks, Sawyer says, these boarders would have asked their parents to take them to competing mountains in Vermont. Ski Butternuts research shows that first-timers are a particularly important segment, because they tend to have a strong allegiance to the resort where they learn to ski. First-timers typically visit the resort seven times before seeking out more challenging mountains. As a result, Ski Butternut has made teaching first-timers to ski or snowboard one of its specialties. For this market, the resort bundles ski or board rentals, lift tickets, and also offers a wide range of individual and group lessons for all ages and abilities at a value price. Because Ski Butternut has trails for different skill levels, beginners can challenge themselves by changing trails within the resort once they feel confident. Ski Butternut also targets seniors and college students. Knowing that weekends are the busiest period, the resort offers special midweek prices to attract seniors who have free time to ski on weekdays. College students are particularly value-conscious, and they often travel to ski resorts as a group. As a result, Ski Butternut offers weekend and holiday discounts to bring in large numbers of students who would otherwise ski elsewhere. Thanks to Facebook, Twitter, and other social media, students quickly spread the word about special pricing, which enhances Ski Butternuts ability to reach this key segment. In addition, the resort highlights discount pricing for families when targeting specific segments, such as scout troops, military personnel, emergency services personnel, and members of local ski clubs. Another segment Ski Butternut has selected for marketing attention is ski racers. The resort features professional coaching, lessons, and programs for ski racers in the age group of 8 to 20. Sawyer notes that these ski racers are extremely dedicated to training, which means theyre on the slopes as often as possible, a positive for the resorts attendance and revenue. To stay in touch with racers, Ski Butternut has a special website and a dedicated Facebook page. Sawyer conducts up to 1,200 customer surveys every year to better understand who his customers are and what they need. He also compares the results with skiers who visit mountains of a similar size in other areas. Digging deeper, he analyzes data drawn from the ski shops rental business to build a detailed picture of customers demographics, abilities, and preferences. Based on this research, he knows that the typical family at Ski Butternut consists of two children under age 18 who ski or ride, and at least one parent who skis. Because they can obtain so much information from and about their customers, Sawyer and his team are able to make better decisions about the marketing mix for each segment. By better matching the media with the audience, they get a better response from advertising, e-mail messages, and other marketing communications. As one example, they found that 15 percent of the visitors to Ski Butternuts website were using a smartphone to access the site. Sawyer has now created a special version of the site specifically for mobile use and created a text-message contest to engage skiers who have smartphones.16 What role do geographic variables play in Ski Butternuts segmentation and targeting?Located in the picturesque Berkshire Mountains of Western Massachusetts, Ski Butternut has been a family-owned, family-oriented ski destination for more than 50 years. The resort includes 22 trails for downhill skiing and snowboarding, two terrain parks for riding, and a dedicated area for snow tubing. Although Ski Butternut hosts some non-ski events during summer and fall, its business goes into high gear when snowy weather arrives, bringing skiers and riders from across Massachusetts, Connecticut, New York, and New Jersey. Matt Sawyer, Ski Butternuts director of marketing, says the primary target market has always been families with young children who are seeking affordable skiing. Everything from the snack-bar menus to the ski-shop merchandise is presented with families in mind. So that parents can have fun in the snow without worry, the resort has a Childrens Center for children who are too young to ski or have no interest. Fifth-graders are invited to ski for free when accompanied by an adult who buys an adult lift ticket. The resort also created two terrain parks for young snowboarders who were clamoring for a more exciting riding experience. Without the terrain parks, Sawyer says, these boarders would have asked their parents to take them to competing mountains in Vermont. Ski Butternuts research shows that first-timers are a particularly important segment, because they tend to have a strong allegiance to the resort where they learn to ski. First-timers typically visit the resort seven times before seeking out more challenging mountains. As a result, Ski Butternut has made teaching first-timers to ski or snowboard one of its specialties. For this market, the resort bundles ski or board rentals, lift tickets, and also offers a wide range of individual and group lessons for all ages and abilities at a value price. Because Ski Butternut has trails for different skill levels, beginners can challenge themselves by changing trails within the resort once they feel confident. Ski Butternut also targets seniors and college students. Knowing that weekends are the busiest period, the resort offers special midweek prices to attract seniors who have free time to ski on weekdays. College students are particularly value-conscious, and they often travel to ski resorts as a group. As a result, Ski Butternut offers weekend and holiday discounts to bring in large numbers of students who would otherwise ski elsewhere. Thanks to Facebook, Twitter, and other social media, students quickly spread the word about special pricing, which enhances Ski Butternuts ability to reach this key segment. In addition, the resort highlights discount pricing for families when targeting specific segments, such as scout troops, military personnel, emergency services personnel, and members of local ski clubs. Another segment Ski Butternut has selected for marketing attention is ski racers. The resort features professional coaching, lessons, and programs for ski racers in the age group of 8 to 20. Sawyer notes that these ski racers are extremely dedicated to training, which means theyre on the slopes as often as possible, a positive for the resorts attendance and revenue. To stay in touch with racers, Ski Butternut has a special website and a dedicated Facebook page. Sawyer conducts up to 1,200 customer surveys every year to better understand who his customers are and what they need. He also compares the results with skiers who visit mountains of a similar size in other areas. Digging deeper, he analyzes data drawn from the ski shops rental business to build a detailed picture of customers demographics, abilities, and preferences. Based on this research, he knows that the typical family at Ski Butternut consists of two children under age 18 who ski or ride, and at least one parent who skis. Because they can obtain so much information from and about their customers, Sawyer and his team are able to make better decisions about the marketing mix for each segment. By better matching the media with the audience, they get a better response from advertising, e-mail messages, and other marketing communications. As one example, they found that 15 percent of the visitors to Ski Butternuts website were using a smartphone to access the site. Sawyer has now created a special version of the site specifically for mobile use and created a text-message contest to engage skiers who have smartphones.16 How is Ski Butternut applying behavioristic variables in its segmentation strategy? Explain your answer.
- The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. Can you guess the results of a sensitivity analysis on the initial inventory in the Pigskin model? See if your guess is correct by using SolverTable and allowing the initial inventory to vary from 0 to 10,000 in increments of 1000. Keep track of the values in the decision variable cells and the objective cell.The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. As indicated by the algebraic formulation of the Pigskin model, there is no real need to calculate inventory on hand after production and constrain it to be greater than or equal to demand. An alternative is to calculate ending inventory directly and constrain it to be nonnegative. Modify the current spreadsheet model to do this. (Delete rows 16 and 17, and calculate ending inventory appropriately. Then add an explicit non-negativity constraint on ending inventory.)The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. Modify the Pigskin model so that there are eight months in the planning horizon. You can make up reasonable values for any extra required data. Dont forget to modify range names. Then modify the model again so that there are only four months in the planning horizon. Do either of these modifications change the optima] production quantity in month 1?
- The following table presents cost, capacity, and demand data for a transportation problem in Stephanie Robbin’s furniture company. Set up the appropriate transportation table and find the optimal solution using Excel's solver. From/To 1 2 3 Supply A 30 10 5 20 B 10 10 10 30 C 20 10 25 75 Demand 40 60 55 a. Is the problem balanced? [ Select ] ["Yes", "it is balanced", "No", "cannot determine"] , If not, where? [ Select ] ["Neither", "Supply", "Demand"] , and by how much? [ Select ] ["0", "40", "30", "25"] b. What is the optimal cost? $ [ Select ] ["2,500", "1,100", "1,275", "1,300"] c. Were you able to meet all demand requirement? [ Select ] ["no", "cannot determine based on the information given", "yes"] If not, which destination (s) was/were not met? [ Select ] ["none, all destinations were met based on supply and demand being equal", "destination 3 by 30 units", "destination 2 by 30 units", "destination 1 by 25 units…Create spreadsheets and use Solver to determine the correct volumes to be produced to minimize cost for the following problem. Your company has two trucks that it wishes to use on a specific contract. One is a new truck the company is making payments on, and one is an old truck that is fully paid for. The new truck’s costs per mile are as follows: 54₵ (fuel/additives), 24₵ (truck payments), 36₵ (driver), 12₵ (repairs), and 1₵ (misc.). The old truck’s costs are 60₵ (fuel/additives), 0₵ (truck payments), 32₵ (rookie driver), 24₵ (repairs), and 1₵ (misc.). The company knows that truck breakdowns lose customers, so it has capped estimated repair costs at $14,000. The total distance involved is 90,000 miles (to be divided between the two trucks).The Fish House (TFH) in Norfolk, Virginia, sells fresh fish and seafood. TFH receives daily shipments of farm-raised trout from a nearby supplier. Each trout costs $2.45 and is sold for $3.95. To maintain its reputation for freshness, at the end of the day TFH sells any leftover trout to a local pet food manufacturer for $1.25 each. The owner of TFH wants to determine how many trout to order each day. Historically, the daily demand for trout is: Demand 10 11 12 13 14 15 16 17 18 19 20 Probability 0.02 0.06 0.09 0.11 0.13 0.15 0.18 0.11 0.07 0.05 0.03 a. Construct a payoff matrix for this problem. b. How much should the owner of TFH be willing to pay to obtain a demand forecast that is 100% accurate? give a clear explanation for (b)