a. Formulate a linear programming model that can be used to determine the number of gallons of regular gasoline and the number of gallons of premium gasoline that should be produced in order to ma profit contribution. If required, round your answers to two decimal places, Let R= number of gallons of regular gasoline produced P= number of gallons of premium gasoline produced R+ P s.t. R+ P Grade A crude oil available R+ P Production capacity P ▾ Demand for premium R, P
Q: Why are process strategies important in producing quality goods and services?
A: Each business performs many processes in its data activities. Each process is designed and followed…
Q: please answer all parts of the question within 30 minutes with detailed explanation. Make sure the…
A: Breakeven point is that level of sales at which there is no profit no loss. In other words at…
Q: Given below rating
A: Normal Time = 8 minutes Performance rating table Skill +0.15 Effort +0.10
Q: Design ideas and concepts should be explained in depth. What distinguishes a 'good' design from a…
A: Design ideas and concepts are to be explained in more detail, so, users could find the interesting…
Q: Select all of the key parts of a Project Timeline. (Select ALL correct answers) a. Taks b. Due…
A: Project management is described as the process through which techniques, tools, and skills are…
Q: The demand for a product is 200 units per week, and the items are withdrawn at a constant rate. The…
A: Given data Annual demand (D) = 200 units per week Setup costs or ordering costs (S) = RM 80 Unit…
Q: a. Assume that only purchasing costs are being considered. Compute the total processing time…
A: Production is the process in which inputs are combined to have the required output. It includes a…
Q: How Do Managers Plan Production?
A: Production planning is the method of determining how goods or services would be manufactured before…
Q: How does supply-chain management encourage cooperation between buyers and sellers?
A: Supply chain management is described as a process through which demand management and supply…
Q: Please assist Name four measures that can be put in place to help prevent stock losses or minimise…
A: 1) Continuously Track Stock Measuring merchandise loss starts with having reliable and current…
Q: Directly related to the production of a firm's products and distribution or services
A: The correct option is Primary Activities It is false
Q: Explain the concept and process of Disruptive Innovation. Discuss the key requisites for an…
A: Innovation is the exercise of evolving and initiating new things. It can be a product or service, it…
Q: types of benchmarking
A: Benchmarking is the upper hand that permits associations to adjust, develop, and flourish through…
Q: A small firm uses 3,400 lbs of chemical dye a year. Currently the firm purchases 300 lbs per order…
A: Given data is Demand(D) = 3400 lbs Order cost(S) = $100 Holding cost(H) = $0.51
Q: What strategy will you use as Project Manager to ensure that all stakeholders are informed of the…
A: The Project Manager is a key role in ensuring the success of a project. The Project Manager is…
Q: Supply chains represent both local and global companies working together. What are some of the risks…
A: A supply chain consists of businesses that work together to get their products or services from…
Q: Critically evaluate the importance of SCM in manufacturing industry.
A: The manufacturing industry would not function properly without the supply chain management process.…
Q: How is capacity utilization computed, and what does it tell us?
A: An organization or economy uses to create output by capacity utilization which is the production and…
Q: 19. Hale's TV Productions is considering producing a pilot for a comedy series in the hope of…
A: If the agency is not consulted, the following decision alternatives are there. If the agency is…
Q: ABC Company placed an order on December 1. It normally receives the order after 9 days. If the…
A: The reorder point is the level reached at which the order is placed to replenish the inventory…
Q: Describe vendor-managed inventory (VMI). How is it related to outsourcing?
A: Inventory management can be stated as the approach to management or administration of the…
Q: Describe 9 features of a system for monitoring and evaluating the implementation of operational…
A: An operational plan is an essential component of any enterprise, regardless of its size or the…
Q: Construct the control charts for the mean and the range, using the original 15 samples. t up the…
A: Control charts are also known as process-behavior charts. It is a statistical process that helps in…
Q: Instead of using excel, how would we solve this by hand?
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Please describe experimental design, and how it would benefit the organization in terms of improving…
A: Experimental design is a tool used to evaluate the effect of a single or multiple changes to any…
Q: You are the human resources director of training and development of a start-up organization.…
A: In-house training is a corporate training which is given to the newly joined employees. The activity…
Q: 1. A state has three power plants with generating capacities of 30, 40 and 25 million KWH that…
A: Note: - As we can answer only up to three subparts we will answer the first three subparts(a, b, and…
Q: What are the various issues involved in environmental ethics?
A: Global climate change, loss of biodiversity, forests, and wetlands throughout the world, long-range…
Q: Are the problems of moving people significantly different from the problems of moving goods or…
A: Public transport is a transportation system where the public travels by bus, rails, metro rails and…
Q: Why do organizations choose rigid processes over flexible ones?
A: Each business has many processes that they have to manage in their day-to-day activities. The type…
Q: LP Center of Gravity Data Location X Y Cost 1 7 4 13 2 1 14 5 3 9 3 15 4 4 9 24 Total 21 30 57…
A: since coordinate values are possible to be in decimals, we will use GRG non linear method.…
Q: The ______ step is not part of the selection process. A) job offer B) developing a pool of…
A: The selection procedure can be distinct as the procedure of selection & choosing of the accurate…
Q: Discuss the importance of supplier selection given the current business environment; Explain each…
A: Supplier selection is the process in which the companies determine which supplier to partner with to…
Q: making. Using the obtained information, compute for the total cost production of the finished…
A: The mark up is the amount of profit to be added to total cost of production to arrive at the selling…
Q: Discuss Hoshin Planning its implementation, types and benefits with company examples?
A: Since you have asked two questions, we will solve the first question for you. If you want any…
Q: rom the perspective of customer service. Which do you believe will provide the best level of…
A: The practice of assisting and advocating for consumers as they get familiar with, use, optimize, and…
Q: TYPEWRITTEN ONLY PLEASE. ILL UPVOTE ONLY IF TYPEWRITTEN, COMPLETE, AND CORRECT. DONT ANSWER IF YOU…
A: The question is related to Cost Volume Profit Analysis. The Breakeven point is that level of sales…
Q: Some project management applications can be quite expensive. As a manager, how would you justify the…
A: Project Management software is indeed a long-term investment for the firm since it provides…
Q: Laytime for discharge operations is 08 days 17 hours 20 mins. If the amount used was 06 days 12…
A: Given data is Available time = 8 days 17 hours 20 mins = 8.72221 days Used time = 6 days 12 hours 56…
Q: (a) Find the optimal order size and order frequency for the importer to minimise their costs.…
A: Optimal order size undervalues its total costs linked to ordering, receiving, and holding inventory.…
Q: Your twenty observations of Dr. Knowitall reveal the following information. Assume that the estimate…
A: The sample size that we need to estimate the proportion of time by using the below-mentioned…
Q: What are the sources of research problems?
A: A research problem can be broadly defined as an area of difficulty which can be improved or…
Q: 3. Propose an optimal and cost-efficient transport mode/s for DHL in conveying goods from China to…
A: Transporting the goods from one place to another is one of the challenging tasks for the companies.…
Q: 9. Hamilton County Parks is planning to develop a new park and recreational area on a re- cently…
A: Given data: Activity A B C D E F G H I Time 9 6 6 3 0 3 2 6 3
Q: a. If the manager anticipates an annual volume of 10,000 units, which alternative would be best from…
A: Total cost is the cost that we get after adding all the fixed and the variable costs. Total cost =…
Q: What strategy will you use as Project Manager to ensure that coordination is smooth and seamless?
A: Project coordination is based on the day-to-day work needed to maintain an initiative on the path.…
Q: A process includes 9 tasks and there are 3 workers. Each task can be assigned to only one worker and…
A: It is commonly represented in "hours" and refers to the output capacity of employees or machinery.…
Q: What are some of the common issues that project teams run across throughout each of the five process…
A: Various issues that project teams run across throughout each of the five process groups are, 1.…
Q: Consider both the benefits of using a Work Breakdown Structure as well as the drawbacks associated…
A: In the project management of the planning process group, we would construct the work breakdown…
Q: pose now that the unit cost for every speaker is $11 if less than 10,000 speakers are produced, $10…
A: Consider basic EOQ model The total cost per unit time is TJ Unit cost is CJ TJ=dKQ+dcj+hQ2 for…
Trending now
This is a popular solution!
Step by step
Solved in 8 steps with 13 images
- 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.It costs a pharmaceutical company 75,000 to produce a 1000-pound batch of a drug. The average yield from a batch is unknown but the best case is 90% yield (that is, 900 pounds of good drug will be produced), the most likely case is 85% yield, and the worst case is 70% yield. The annual demand for the drug is unknown, with the best case being 20,000 pounds, the most likely case 17,500 pounds, and the worst case 10,000 pounds. The drug sells for 125 per pound and leftover amounts of the drug can be sold for 30 per pound. To maximize annual expected profit, how many batches of the drug should the company produce? You can assume that it will produce the batches only once, before demand for the drug is known.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?
- Two firms, A and B, each currently dump 168 tons of chemicals into the local river. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. The government gives each firm 90 pollution permits. The abatement costs of one ton of pulltion is $122 for Firm A and $147 for Firm B. What would be the total cost of reducing pollution, if the government does NOT allow the firm to trade the permits between each other?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)Lou Silva has owned and operated The Wellness Store for fifteen years. The company's year-end is December 31st. The following chart lists the company's assets owned prior to 2021 and their UCC balances at the end of 2020. Asset UCC Balance Store (building purchased in 2005) $100,000 Delivery van (Class 10) 15,000 Furniture and office equipment (Class 8) 30,000 Photocopier purchased in 2019 (Separate Class 8) 2,000 Patent (purchased in 2018) 10,000 The following transactions took place in 2021: a. Lou purchased $2,000 worth of small tools (each costing under $500). b. The delivery van was sold for $12,000. The original cost was $20,000. A second-hand van was purchased in the year for $16,000. c. $15,000 was paid for an air conditioning system in the building, which was added to the cost of the standard Class 1 pool. d. Lou sold the photocopier for $1,500 in the year, and will replace it in January 2022 with a second-hand model valued…
- A Las Vegas, Nevada, manufacturer has the option to make or buy one of its component parts. The annual requirement is 20,000 units. A supplier is able to supply the parts for $10 per piece. The firm estimates that it costs $600 to prepare the contract with the supplier. To make the parts in-house, the firm must invest $50,000 in capital equipment, and the firm estimates that it costs $8 per piece to make the parts in-house. Assuming that cost is the only criterion, use breakeven analysis to determine whether the firm should make or buy the item. 1. What is the breakeven quantity? 2. Should the manufacturer Make or Buy? 3. What is the cost savings using your decision in number 2 (above)? Show the total cost for each scenario then the savings amount.During the year, Brownout Company experienced the following power outages:Number of Power Outages Per Month Number of Months 0 3 1 2 2 4 3 3 12Each power outage results in out of pocket costs of P400. For P500 per month, the company can lease an auxiliary generator to provide power during outages. If the company leases an auxiliarygenerator next year, the estimated savings (or…Current Asset Usage Policy Payne Products had $2.4 million in sales revenues in the most recent year and expects sales growth to be 25% this year. Payne would like to determine the effect of various current assets policies on its financial performance. Payne has $3 million of fixed assets and intends to keep its debt ratio at its historical level of 50%. Payne's debt interest rate is currently 9%. You are to evaluate three different current asset policies: (1) a restricted policy in which current assets are 45% of projected sales, (2) a moderate policy with 50% of sales tied up in current assets, and (3) a relaxed policy requiring current assets of 60% of sales. Earnings before interest and taxes are expected to be 11% of sales. Payne's tax rate is 35%. What is the expected return on equity under each current asset level? Round your answers to two decimal places. Tight policy % Moderate policy % Relaxed policy %
- Bruin Properties is in escrow to buy a 175,000 square foot shopping center in Camarillo, California for $35,000,000. Bruin Properties can borrow $24,000,000 fixed rate fully amortizing over 30 years at a 6.0% annual interest rate with equal monthly payments of principal and interest or it can borrow $28,000,000 fixed rate fully amortizing over 30 years at a 7.0% annual interest rate with equal monthly payments of principal and interest. What is the incremental annual borrowing cost for the additional $4,000,000 loan amount if each loan would be outstanding for the full 30 year term? a.13.0% b.12.4% c.11.5% d. 7.0%Problems LU - 2 Wally Beaver won a lottery and will receive a check for $2,500 at the beginning of each 6 months for the next 6 years. If Wally deposits each check into an account that pays 6%, how much will he have at the end of the 6 years?Aurillo Equipment Company (AEC) projected that its ROE for next year would be just 6 percent.However, the financial staff has determined that the firm can increase its ROE by refinancing somehigh interest bonds currently outstanding. The firm’s total debt will remain at $200,000 and the debtratio will hold constant at 80 percent, but the interest rate on the refinanced debt will be 10 percent.The rate on the old debt is 14 percent. Refinancing will not affect sales, which are projected to be$300,000. EBIT will be 11 percent of sales and the firm’s tax rate is 40 percent. If AEC refinances itshigh interest bonds, what will be its projected new ROE?