An airline company has drawn up a new flight schedule involving five flights. To assist in allocating five pilots to the flights, it has asked them to state their preference scores by giving each flight a number out of 10. The higher the number, the greater is the preference. Certain of these flights are unsuitable to some pilots owing to domestic reasons. These have been marked with a -. Flight Number Pilot I II III IV V A 8 2 - 5 4 B 10 9 2 8 4 C 5 4 9 6 - D 3 6 2 8 7 E 5 6 10 4 3 What should be the allocation of the pilots to flights in order to meet as many preferences as possible?

An airline company has drawn up a new flight schedule involving five flights. To assist in allocating five pilots to the flights, it has asked them to state their preference scores by giving each flight a number out of 10. The higher the number, the greater is the preference. Certain of these flights are unsuitable to some pilots owing to domestic reasons. These have been marked with a -. Flight Number Pilot I II III IV V A 8 2 - 5 4 B 10 9 2 8 4 C 5 4 9 6 - D 3 6 2 8 7 E 5 6 10 4 3 What should be the allocation of the pilots to flights in order to meet as many preferences as possible?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section: Chapter Questions

Problem 41P: At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 =...

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At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.
The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.
A Harvard student heard from a friend at UCLA, who had recently taken an excellent real estate finance and investments course, that a “conforming” mortgage loan would likely provide her with the lowest possible interest rate on the home loan for the $1 million condo she was planning to buy on Wilshire Boulevard in Westwood. For a home loan to be a “conforming” mortgage loan, it would: Require that she have a DSCR or FICO score lower than the minimums currently required by Fannie Mae and Freddie Mac for such loans Have an LTV ratio that is higher than the ratio currently approved by Fannie Mae and Freddie Mac Have to comply with the underwriting guidelines for loans that Fannie Mae and Freddie Mac can buy at the time of loan origination Have to exceed the $1,089,300 maximum loan limit currently permitted by Fannie Mae and Freddie Mac for home loans in high cost areas like Los Angeles
Andrew Thomas, a sandwich vendor at Hard Rock Cafe's annual Rockfest, created a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd) States of Nature (demand) Average $12,000 $9,000 $8,100 Big Small $22,000 -$2,000 Alternatives Large Stock Average Stock Small Stock $12,000 $6,000 $9,000 $4,000 The probabilities associated with the states of nature are 0.20 for a big demand, 0.45 for an average demand, and 0.35 for a small demand a) The alternative that provides Andrew Thomas the greatest expected monetary value (EMV) is
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Employees at Precision Engine Parts Company produce parts according to exact design specifications. The employees are paid according to a piece-rate system, wherein the faster they work and the more parts they produce, the greater their chances for monthly bonuses. Management suspects that this method of pay may contribute to an increased number of defective parts. A specific part requires a normal, standard time of 23 minutes to produce. The quality control manager has checked the actual average times to produce this part for 10 different employees during 20 days selected at random during the past month and determined the corresponding percentage of defective parts, as follows: Develop a linear regression model relating average production time to percentage defects to determine whether a relationship exists and the percentage of defective items that would be expected with a normal production time of 23 minutes.
In the Atlanta area, the number of daily calls for the repair of Speedy copy machines has been recorded as follows: October Calls 1 92 2 127 3 106 4 165 5 125 6 111 7 178 8 97 Prepare a three-period moving-average forecast for periods 4-8. What is the error on each day? Prepare a three-period weighted moving average forecast for periods 4-8 using weights of w1=.5, w2=.3, w3=.2 Which of the two forecasts is better? (Use CFE to calculate the better method)
16. All merchandise planning starts with and is based on: Group of answer choices Planned sales Planned OTB Actual sales Planned stocks
Tom Glass forecasts electrical demand for the FlatlandsPublic Power District (FPPD). The FPPD wants to take itsComstock power plant out of service for maintenance whendemand is expected to be low. After shutdown, performingmaintenance and getting the plant back on line takes two weeks. The utility has enough other generating capacity tosatisfy 1,550 megawatts (MW) of demand while Comstockis out of service. Table 8.5 shows weekly peak demands(in MW) for the past several autumns. When next in year 6should the Comstock plant be scheduled for maintenance?
B& Co. is a large manufacturer if an electronic product (NM65). It is the market leader in the particular product segment. The market size is increasing due to increasing popularity of its product. B& Co. has received an offer from a manufacturer of electronic products to produce NM 65 on half of B& Co. and directly supply to the customers of the Northern region. The billing on the customer will done by B& Co. The offer is economically attractive. Required: Write a note on what qualitative factors should be considered before deciding in favour or against accepting the offer.
Sales of industrial vacuum cleaners at Yarena Supply CO. over the past 13 months are as follows: Sales in P1,000 Month Sales in P1,000 Month 11 January 14 August 14 February 17 September 15 March 12 October 10 April 14 November 15 May 16 December 17 June 11 January 11 July Required suing a moving average with three periods, determine the demand for vacuum cleaners for next February?
The Grand Bakery produces 60 special sourdough rolls every day. Any rolls that are not sold each day are given to the employees. They have collected sales data from the past week: Day Rolls sold 1 50 2 50 3 48 4 60 5 53 6 60 What is the value of F6 if they use a 3-day weighted moving average with W1 = 0.6, W2 = 0.2, and W3 = 0.2? Using the data from above, calculate the forecast for period 7 using a four-period moving average: