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HW1_F09 - BUSI 410 Homework#1 Due Tips for a stress-free...

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_________________________________________________________________________________________________ BUSI 410 – Homework #1 Due 9/15/2009 Tips for a stress-free assignment: (1) In class we formulated decision models using both plain English and mathematical notation. For each of the questions below and before setting up an Excel spreadsheet, you should be able to describe the decisions, objective, and constraints in plain English and also formulate the model using mathematical notation (though this does not have to be part of your submission). (2) In all the formulations required below, please ignore the fact that some decision variables should take only integer values and stick with nonnegative real numbers. (3) For all questions below, please provide a printout of your spreadsheet setup, where (a) the optimal decisions have been calculated and formulas instead of values are shown in the cells that contain formulas (you can do that by pressing <Ctrl> + <~>), and (b) gridlines and headings are shown (Page Layout->Print Gridlines, Page Layout->Print Headings) . Please put some effort to make your spreadsheet descriptive enough so that one (that one possibly being the grader) does not have to guess what each cell represents. (4) If you are using information from Excel’s sensitivity report in your answers to any of the questions below, please submit that report as well. (5) Please write out your final answers in plain English, e.g., “The optimal decision for Littlefield Loading Company is to rent 30,000 ft 2 in April for three months” or “Exeter Mines should increase production capacity at mine 1 because…”. 1. Littlefield Loading Company is a manufacturing company that needs to lease warehouse space over the next three months. Following are Littlefield’s space requirements: Month Required Space (ft. 2 ) April 15,000 May 13,000 June 10,000 Littlefield’s rental agent has provided it with the following cost schedule for warehouse space. This schedule shows that the longer the space is rented, the cheaper it is. For example, if Littlefield rents space for all 3 months, it costs $0.200/ft. 2 per month, whereas if it rents the same space for only 1 month, it costs $0.28/ft 2 per month.
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