Demand less than Supply From\To W1 W2 W3 W4 Total Supply F1 400 500 350 120 75 45 F2 250 300 250 85 30 55 F3 350 500 450 95 55 40 Total Demand 75 75 110 40 300 The initial feasible solution is f(min)=350(110)+0(10)+250(10)+300(75)+350(65)+0(30)=P86,250 Find the optimal solution by Modified Distribution Method
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- 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.There are currently 60 perfectly competitive firms producing output q. Their cost function is C = 10 + 3q^2 he demand in this market is QD = 1200 - 40p. Each firm's variable profit is? Show graphically too! a) 48 b) 2880 c) 24 d) 240 e) 328. Palmer Jam Company is a small manufacturer of several different jam products. One product is an organic jam that has no preservatives, sold to retail outlets. Susan Palmer must decide how many cases of jam to manufacture each month. The probability that demand will be 5 cases is 0.05, for 6 cases it is 0.30, for 7 cases it is 0.50, and for 8 cases it is 0.15. The cost of every case is $45, and the price Susan gets for each case is $90. Unfortunately, any cases not sold by the end of the month are of no value as a result of spoilage. Part 2 Based on the given information, Susan's conditional profits table for jam is: Demand 5 cases 6 cases 7 cases 8 cases Produce p=0.05 p=0.30 p=0.50 p=0.15 5 cases __________ ___________ ___________ ____________ b) The number of cases that Susan should produce to achieve maximum expected value (EMV) is _____ cases. c) The EMV of stocking this number of cases is $_______.
- for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option (in thousands) depends on demand as follows. DEMAND STAFFING OPTIONS HIGH MEDIUM LOW Own Staff 650 650 600 Outside Vendor 900 600 300 Combination 800 650 500 Based on decision analysis under uncertainty, determine the best decision each of the model. Then compare all the model decision to make it overall conclusion.Let xj be the number of units allocated to supply-destination pair i (supply) and j (demand). If we use VAM as an initialization technique, which of the following supply- destination pairs will be allocated first? Destination 1 2 3 Supply 1 15 13 7 Source 2 11 17 5 3 9. 11 9. 3 Demand 3 ActivaDorothy’s pastries are freshly baked and sold at several spe-cialty shops throughout Perth. When they are a day old, theymust be sold at reduced prices. Daily demand is distributedas follows:Demand Probability50 0.25150 0.50200 0.25Each pastry sells for $1.00 and costs $0.60 to make. Each onenot sold at the end of the day can be sold the next day for$0.30 as day-old merchandise. How many pastries should bebaked each day?
- Downtown Health Clinic needs to order influenza vaccinesfor the next flu season. The Clinic charges its patients $15.00per vaccination and each dose of vaccine costs the clinic$4.00 to purchase. The Center for Disease Control has a longstanding policy of buying back unused vaccines for $1.00 perdose. The Clinic estimates the following probability distribu-tion for the season’s demand:Demand Probability2,000 0.053,000 0.204,000 0.255,000 0.406,000 0.10 a. How many vaccines should the Clinic order to maximizeits expected profit?b. The Clinic is trying to determine if they should participatein a new Federal program in which the cost of each dose isreduced to $2.00. However, to participate in the program,they can charge no more than $10.00 per vaccine. Onstrictly a profit maximizing basis, should the Clinic agreeto participate?The owner of a boat has estimated the following distribution of demand for a particular kind of boat. No. demanded o 1 2 3 Probability 0.10 0.20 0.30 0.40 Each boat costs him (c + d) rials and he sells them for (2 • c + 2 • d) rials each. Prices are given in hundreds rial units. Boats that are left unsold at the end of the season must be disposed off for (c + d – 2) rials each. How many should be stocked so as to maximize his expected profit?The weekly demand of a slow-moving product has the probability mass function shown to the right. Find the expected value, variance, and standard deviation of weekly demand. The expected value of weekly demand is 1 (Type an integer or a decimal. Do not round.) The variance of weekly demand is 6. (Type an integer or a decimal. Do not round.) The standard deviation of weekly demand is (Round to three decimal places as needed.) Demand, x Probability, f(x) 0.3 0.2 IT 0.4 0.1 0.0 4 or more
- Palmer Jam Company is a small manufacturer of several different jam products. One product is an organic jam that has no preservatives, sold to retail outlets. Susan Palmer must decide how many cases of jam to manufacture each month. The probability that demand will be 7 cases is 0.05, for 8 cases it is 0.20, for 9 cases it is 0.45, and for 10 cases it is 0.30. The cost of every case is $45, and the price Susan gets for each case is $85. Unfortunately, any cases not sold by the end of the month are of no value as a result of spoilage. Based on the given information, Susan's conditional profits table for jam is: Demand 9 cases p =0.45 7 cases 8 cases 10 cases Produce p=0.05 p= 0.20 p=0.30 cases 8 cases 9 cases 10 cases The number of cases that Susan should produce to achieve maximum expected value (EMV) is V cases. The EMV of stocking this number of cases is $ (round your answer to the nearest whole number). OO D OLeather-All produces a line of handmade leather products. At the present time, the company is producing only belts, handbags, and attache cases. The predicted demand for these three types of items over a six-month planning horizon is as follows: Month No. of Belts Handbags Attache CasesWorking days1 22 2500 1250 2402 20 2800 680 3803 19 2000 1625 1104 24 3400 745 755 21 3000 835 1266 17 1600 375 45 The belts require an average of two hours to produce, the handbags three hours, and the attache cases six hours; all the workers have the skill to work on any item. Leather-All has 46 employees who each have a share in the firm and cannot be fired. There are an additional 30 locals that are available and can be hired for short periods at a higher cost. Regular employees earn $8.50 per hour on regular time, and $14.00 per hour on overtime. Regular time comprises a seven-hour workday and the regular employees will work as much overtime as is available. The additional workers are hired for…Motorama TV estimates the annual demand for its TVsis (and will be in the future) normally distributed, with amean of 6,000 and standard deviation of 2,000. Motorama must determine how much production capacity it shouldhave. The cost of building enough production capacity tomake 1,000 sets per year is $1,000,000 (equivalent in presentvalue terms to a cost of $100,000 per year forever). Exclusiveof the cost of building capacity, each set sold contributes$250 to profits. How much production capacity shouldMotorama have?