Question 1: What objective function will be used to evaluate the minimum cost? Question 2: Given the feasible region, how many corner points does the LP model generate? Question 3: Given the graph of the LP model, which of the following is not a corner point? (0,0), (0,8), (0,15) (15,0)
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Question 1: What objective function will be used to evaluate the minimum cost?
Question 2: Given the feasible region, how many corner points does the LP model generate?
Question 3: Given the graph of the LP model, which of the following is not a corner point? (0,0), (0,8), (0,15) (15,0)
Question 4: How many constraints, excluding the non-negative constraints, will be considered for the determination of the optimal solution?
Question 5: What is the minimum cost referred to in the problem?
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Problem 20-7 (Algo) Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.29 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.) What is the optimal production quantity for the card? (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round Normsinv value to 4 decimal places. Roundup your answer to the nearest whole number.) Optimal production quantity
- Situation: The Hawkins Supply company is currently faced with an inventory rotation problem. This difficulty stems from the fact that some supplies must be used prior to a stated expiration date. Upon receipt, a new shipment of these perishable items must be stacked beneath the boxes that are currently in inventory. A substantial amount of time is consumed in restacking the items according to their expiration dates. Question: The company would like to reduce the double and sometimes triple handling of items. How can this goal be achieved? Are there alternative solutions which might also be effective?• Use this information for the question below. Low-Grade Copper Ore $571 per Ton High-Grade Copper Ore $843 per Ton Coloma Cooper Incorporated is able to produce $640 worth of copper from one ton of low-grade copper ore. Because of its higher copper content, Coloma can produce $940 worth of copper from one ton of high-grade copper ore. A mining company is offering to trade 7,250 tons of low-grade copper ore for 5,000 tons of high-grade copper ore. Assuming Coloma currently has 5,000 tons of high-grade ore, what should it do?Q2) (a) A Missouri job shop has four departments--machining (M), dipping in a chemical bath (D), finishing (F), and plating (P)-assigned to four work areas. The operations manager, Mary Marrs, has gathered the following data for this job shop as it is currently laid out. It costs $0.50 to move 1 workpiece 1 foot in the job shop. Determine cost of material handling in the current layout. Further, suggest a revised layout that has the lowest material handling cost. 100s of Workpieces Moved Between Work Areas Distances Between Work Areas in Feet M D F P M D F P M 18 2 20 12 8 4 2 6. 10 F 18 4
- Scenario 14.1 — Vidalia OnionsWhen Vidalia onions are ready, the entire 13 county (plus parts of seven other counties) area in Georgia where they are grown is devoted to the harvest, packaging and shipping of this delicacy. The Onion Shack currently purchases 120,000 bags of onions each year at a price of $100 per bag (a bag is ten pounds). Onion Shack has historically purchased in lots of 3000 bags. Transit time and capacity vary as indicated in the table (lead time is 2 days more than transit time). The safety inventory that Onion Shack requires is 30% of lead time demand and the holding cost for a bag is 15% of cost. Carrier Quantity Shipped (cwt) Quantity shipped (bags) Shipping cost ($/cwt) Transit time (days) Mashburn Rail 200+ 2000+ $2.10 5 Sylvia Express 100+ 1000+ $2.35 3 Anita Enterprises 250+ 2500+ $1.35 3 Smith Trucking 250+ 2500+ $1.00 3 Use Scenario 14.1 to determine the least expensive option if the Onion Shack continues to purchase 120,000 bags of Vidalia…Scenario 14.1 — Vidalia OnionsWhen Vidalia onions are ready, the entire 13 county (plus parts of seven other counties) area in Georgia where they are grown is devoted to the harvest, packaging and shipping of this delicacy. The Onion Shack currently purchases 120,000 bags of onions each year at a price of $100 per bag (a bag is ten pounds). Onion Shack has historically purchased in lots of 3000 bags. Transit time and capacity vary as indicated in the table (lead time is 2 days more than transit time). The safety inventory that Onion Shack requires is 30% of lead time demand and the holding cost for a bag is 15% of cost. Carrier Quantity Shipped (cwt) Quantity shipped (bags) Shipping cost ($/cwt) Transit time (days) Mashburn Rail 200+ 2000+ $2.10 5 Sylvia Express 100+ 1000+ $2.35 3 Anita Enterprises 250+ 2500+ $1.35 3 Smith Trucking 250+ 2500+ $1.00 3 Use Scenario 14.1 to determine the total cost of the Anita Enterprises option if the Onion Shack purchases 240,000 bags…Scenario 14.1 — Vidalia OnionsWhen Vidalia onions are ready, the entire 13 county (plus parts of seven other counties) area in Georgia where they are grown is devoted to the harvest, packaging and shipping of this delicacy. The Onion Shack currently purchases 120,000 bags of onions each year at a price of $100 per bag (a bag is ten pounds). Onion Shack has historically purchased in lots of 3000 bags. Transit time and capacity vary as indicated in the table (lead time is 2 days more than transit time). The safety inventory that Onion Shack requires is 30% of lead time demand and the holding cost for a bag is 15% of cost. Carrier Quantity Shipped (cwt) Quantity shipped (bags) Shipping cost ($/cwt) Transit time (days) Mashburn Rail 200+ 2000+ $2.10 5 Sylvia Express 100+ 1000+ $2.35 3 Anita Enterprises 250+ 2500+ $1.35 3 Smith Trucking 250+ 2500+ $1.00 3 Use Scenario 14.1 to determine the least expensive option if the Onion Shack purchases 480,000 bags of Vidalia onions…
- Scenario 14.1 — Vidalia OnionsWhen Vidalia onions are ready, the entire 13 county (plus parts of seven other counties) area in Georgia where they are grown is devoted to the harvest, packaging and shipping of this delicacy. The Onion Shack currently purchases 120,000 bags of onions each year at a price of $100 per bag (a bag is ten pounds). Onion Shack has historically purchased in lots of 3000 bags. Transit time and capacity vary as indicated in the table (lead time is 2 days more than transit time). The safety inventory that Onion Shack requires is 30% of lead time demand and the holding cost for a bag is 15% of cost. Carrier Quantity Shipped (cwt) Quantity shipped (bags) Shipping cost ($/cwt) Transit time (days) Mashburn Rail 200+ 2000+ $2.10 5 Sylvia Express 100+ 1000+ $2.35 3 Anita Enterprises 250+ 2500+ $1.35 3 Smith Trucking 250+ 2500+ $1.00 3 Use Scenario 14.1 to determine the safety inventory of the Anita Enterprises option if the Onion Shack purchases 240,000…3. Crash Time & Crash Costs Mimiyuuuh Builders uses the critical path method to monitor construction jobs. The company is currently 2 weeks behind schedule on Job #168, which is subject to a P 10,500 per week completion penalty. Mimiyuuuh desires to reduce the normal completion time of Job # 168 and, at the same time, report the highest possible income. Path A-B-C-F-G-H-I has a normal completion time of 20 weeks, and a critical path A-D-E-F-G-H-I has a normal completion time of 22 weeks. The following activities can be crashed: Activities Cost to Crash 1 Week Cost to Crash 2 Weeks BC P 15,000 DE P 8,000 10,000 8,800 19,600 EF 19,500 What activity (activities) should Mimiyuuuh crash? a. Activity EF (2 weeks) b. Activity BC (1 week) & activity DE (1 week) C. Activity BC (1 week) & activity EF (1 week) d. Activity DE (1 week) & activity EF (1 week)Preliminary plans are underway for construction of a new stadium for a major league baseball team. City officials question the number and profitability of the luxury corporate boxes planned for the upper deck of the stadium. Corporations and selected individuals may purchase a box for $300,000. The fixed construction cost for the upper-deck area is estimated to be $4,500,000, with a variable cost of $150,000 for each box constructed. a. What is the breakeven point for the number of luxury boxes in the new stadium? b. Preliminary drawings for the stadium show that space is available for the construction of up to 50 luxury boxes. Promoters indicate that buyers are available and that all 50 could be sold if constructed. What is your recommendation concerning the construction of luxury boxes? What profit is anticipated?