A store manager estimates that theminimum number of cars needed over thenext 3 weeks are 5, 8 and 7 respectively.Excess car kept in garage will cost $30 percar per week and new hiring in any weekwill incur a fixed cost of $40 and $20 percar per week. Assume there is no cost inreturning the car and the minimum numberof cars needed is always met, find thenumber of cars per week such that the totalcost of hiring the cars is minimized. Solvethis problem using dynamic programming.

Dynamic Programming is an approach for solving multi-stage decision problems. When an optimization…

Answered: A store manager estimates that the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Old Pueblo Engineering Contractors creates six-month “rolling” schedules, which are recomputed monthly. For competitive reasons (it would need to divulge proprietary design criteria, methods, and so on), Old Pueblo does not subcontract. Therefore, its only options to meet customer requirements are (1) work on regular time; (2) work on overtime, which is limited to 30 percent of regular time; (3) do customers’ work early, which would costan additional $5 per hour per month; and (4) perform customers’ work late, which would cost an additional $10 per hour per month penalty, as provided by their contract. Old Pueblo has 25 engineers on its staff at an hourly rate of $30. The overtime rate is $45. Customers’ hourly requirements for the six months from January to June are January 5000 February 4000 March 6000 April 6000 May 5000 June 4000 Develop an aggregate plan using a spreadsheet. Assume 20 working days in each month. 12. Alan Industries is expanding its product line to include three…
2. RoadHog Inc. is a small manufacturer of motorcycle accessories. It makes muffler with fins on a linethat is also used to make a variety of other products. Because it is costly to set up the line to produce themin batches, RoadHog has an incentive them in batches. However, while customer demand is known over a6-planning horizon, it is not necessarily constant from week to week. The unit cost, fixed setup cost andmonthly holding cost are given in the table.Data for the RoadHog Dynamic Lot SizingWeek 1 2 3 4 5 6Demand 30 50 60 25 20 40Setup Cost 150 150 150 150 150 150Holding cost 3 3 3 3 3 3a. Find the production plan and the total cost for lot for lot scheduling.b. Find the production plan and the total cost for lot for the fixed order quantity (FOQ = 100)scheduling.c. Find the production plan and the total cost for the fixed order period scheduling (Use FOP = 3weeks).d. Which strategy is the best?
To finance a vacation in 4 years, Elsie saves $410 at the beginning of every six months in an account paying interest at 13% compounded semi dash annually. (a) What will be the balance in her account when she takes the vacation? (b) How much of the balance will be interest? (c) If she waits an additional year to start her vacation, and continues to save the same amount of money, how much more money does she have to spend? Question content area bottom Part 1 a) The balance in her account will be $ enter your response here. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Part 2 b) The amount of interest will be $ enter your response here. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Part 3 c) She will have an extra $ enter your response here to spend on her vacation. (Round the final answer to the nearest cent as needed. Round all…
Please do not give solution in image format thanku A hospital emergency room needs the following numbers of nurses: Day M T W T F S S Min. of number 7 3 8 3 5 4 3 Each nurse should have two consecutive days off. How many full-time nurses are required and what is a good nurse schedule? Round your answer to the nearest whole number.------------------- nurses
Briefly define or explain each of these terms:c. Inventory records
Labuan. The company recently purchase the new equipment that able to reducesthe labor jobs needed to produce the shopping carts. Prior to buying the newequipment, the company used five workers, who produced an average of 80 cartsper hour. Workers receive RM10 per hour, and machine cost was RM40 per hour.With the new equipment, it was possible to transfer one of the workers toanother department, and equipment cost increased by RM12 per hour whileoutput increased by four carts per hour.a) Compute labor productivity under each system.b) Compute the multifactor productivity under each system.c) Comment on the changes in productivity according to the two measures, andon which one you believe is the more pertinent for the situation.
Problem 11-11 (Algo) Famous Albert prldes himself on being the Cookle King of the West. Small, freshly baked cookles are the specialty of his shop. Famous Albert has asked for help to determine the number of cookles he should make each day. From an analysis of past demand, he estimates demand for cookles as VROBARTLITY OF DENAND 0.04 DEEAND 1,800 dosen 2,000 2,200 0.10 0.20 2,400 2,600 2,000 3,000 0.26 0.15 0.03 0.14 ces Each dozen sells for $0.65 and costs $0.49, which includes handling and transportation. Cookles that are not sold at the end of the day are reduced to $0.30 and sold the following day as day-old merchandise. a. Compute the expected profit or loss for each cookie making decislon quantity. (Round your answer to the nearest whole number. Enter expected losses with a negative sign.) Cookles Baked (Dozen) Probability of Demand Expected Profit/Loss 1,800 0.04 2,000 0.10 2,200 0.28 2,400 0.26 2,600 0.15
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I need correct and non plagiarised answer. I will rate accordingly. What is the difference between Quantity Production and Flow Line Production?
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A manufacturing company produces single item product. Theproduction manager decide to arrange 6 periods for MPS. Data aboutdemand forecasts are 112, 157, 126, 176, 124 and 181 while data aboutcustomer orders are 128, 156, 196, 147, 152 and 175. On hand inventoryis 300 units and production batch is 300 units. The productionmanager also decide that 3 beginning periods are critical, so that nochanges are allowed. Arrange MPS for that situation ! When system’s bottleneck requires 10 minutes to finish a unit product,make analysis about capacity. What is your suggestion? please explain it using excel or attached the excel sheet

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A store manager estimates that the minimum number of cars needed over the next 3 weeks are 5, 8 and 7 respectively. Excess car kept in garage will cost $30 per car per week and new hiring in any week will incur a fixed cost of $40 and $20 per car per week. Assume there is no cost in