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How many corner points are there in the feasible region of the following problem?
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Mylab Operations Management With Pearson Etext -- Access Card -- For Operations Management: Sustainability And Supply Chain Management (13th Edition)
- Please show solution and formula used. Assuming the total number of students studying in the top four universities in the Philippines is approximately 158,000. And the distribution is as follows: University of the Philippines (UP) - 40% of the total number Ateneo de Manila University (ADMU) - 23,700 De La Salle University (DLSU) - 25% of the total number University of Santo Tomas - 20% of the total number And only the following number of students owns a tablet computer: 20% of UP students 85% of ADMU students 90% of DLSU students 85% of UST students What is the total market penetration of tablet computers among the students of the top four universities? What is the total market size of tablet computers in the top four universities?arrow_forwardTUTORIAL DECISION ANALYSIS 1. e) 0 B) 2. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gasoline station. Susan's problem is to decide how large her station should be. The annual returns will depend on both the size of her station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Susan developed the following table: Size of First Station Small Medium Large Extra Large Stock Market Bonds CDs Good Market (5) Probability a) b) 50,000 80,000 Decision Alternative. 100,000 300,000 Fair Market (S) 20,000 30,000 30,000 25,000 For example, if Susan constructs a small station and the market is good, she will realize a profit of $50,000. what is the criterion of realism decision? Use an a value of 0.8. Develop an opportunity loss table? What is the minimax regret decision? Mickey Lawson is considering investing some money that he…arrow_forwardThe CEO of Lucky Petroleum Co. has been considering to open a new gasoline statioin. He must decide how large the station should be. The annual returns (IDR billions) will depend on both the size of the station and market factor. After a careful analysis he developed the following table: Size of Station Good Market Fair Market Poor Market Small 50 20 -10 Medium 70 30 -20 Large 100 50 -30 Probability 0.5 0.3 0.2 Compute the expected value of each alternative size of station, and select the best decision. Construct the opportunity loss table and determine the best decision. Compute the expected value of perfect information.arrow_forward
- The chairperson of the department of management at Tech wants to forecast the number of students who will enroll in operations management next semester in order to determine how many sections to schedule. The chair has accumulated the following enrollment data for the past 15 semesters: Using 2 Semester Weighted moving average compute the forecasted number of student for semester 16 the weight are 4 for the most recent semester and 2 for the older one. Semester Students Enrolled in OM 1 270 2 310 3 250 4 290 5 370 6 410 7 400 8 450 9 440 10 470 11 520 12 515 13 525 14 542 15 503arrow_forwardJawad has calculated the possible profits from three different scenarios for the expansion of his restaurant, each for a different amount of advertising and promotion. He has chosen to implement the scenario that offers the greatest profit. Jawad has decided to a. minimin O b. minimnax c. maximax d. maximinarrow_forwardHudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing, or using a combination of its staff and an outside vendor. The profit of the corporation depends on future demand. The annual profit of each option (in thousands of dollars) depends on demand as follows: Demand Staffing Options High Median Low Own staff 650 650 600 Outside vendor 900 600 300 Combination 800 650 500 Recommend a decision based on the use of the optimistic, conservative, and minimax regret approaches. If the demand probabilities are 0.2, 0.5, and 0.3, respectively for High, Median, and Low demands, use the expected value approach to determine the optimal decision(show steps).arrow_forward
- Find the optimal value zarrow_forwardFind decision variables, objective function, constraints and non-negativity constraints An auto company manufactures cars and trucks. Each vehicle must be processed in the paint shop and body assembly shop. If the paint shop were only painting trucks, 40 per day could be painted. If the paint shop were only painting cars, 60 per day could be painted. If the body shop were only producing cars, it could process 50 per day. If the body shop were only producing trucks, it could process 50 per day. Each truck contributes $300 to profit and each car contributes $200 to profit. In addition, the auto company can produce at most 30 trucks and 20 cars. The company wants to determine the daily production schedule that will maximize the company’s profit. Formulate the LP model for the problem.arrow_forwardCalculating outcomes as equally likely would BEST describe: O a. Maximax criterion O b. Laplace criterion O c. Regret criterion Od. Maximin criterion Determining the average payoff for each alternative and choosing the one with the BEST payoff is the approach called: ea, maximax O b. minimax regret O c. laplace Od maximin 2arrow_forward
- A circus is scheduled to appear in a city on a given date. The profits obtained are heavily dependent on the weather which can be classified as "good" or" bad". The circus owners may choose to setup operations in a large open field that is centrally located or rent a small building to stage a small version of the circus. The small building is not expected to be adversely affected by bad weather – thus will not affect the circus for it is well secure and has covered parking for the guests. The following shows the profits of the options and states of nature: States of nature Decision alternatives Set up in field Rent small building | Probability Good Bad $14,500 $5,000 -$15,000 $4,000 P(G)=0.5 P(B)=0.5 The circus owners may choose to delay the decision until the day before the event is due. At this time they can obtain the one-day weather report (free) which is usually reliable. This delay will however increase their set up cost by $1000.00 or if they choose to rent, the rental cost will…arrow_forwardIn the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,000 radials each year. In the past 2 years, 240 and 240, respectively were sold in fall, 350 and 320 in winter,150 and165 in spring, and 340 and 195 in summer. With a major expansion planned, Kelle projects sales next year to increase to 1,200 radials. Based on next year's projected sales, the demand for each season is going to be (enter your responses as whole numbers): Fall: Winter: Spring: Summer:arrow_forwardThe construction manager for Acme Construction, Inc., must decide whether to build single-family homes, apartments, or condominiums. He estimates annual profits (in $000) will vary with the population trend as follows: Type POPULATION TREND Declining Stable Growing Single Family 200 90 70 Apartments 70 170 90 Condos (20 ) 100 220 If he feels the chances of declining, stable, and growing population trends are 40 percent, 50 percent, and 10 percent, respectively, what is his expected value of perfect information?arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,