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GOAL PROGRAMMINGQ1. An electronics company produces two types of smart phones, foldable smartphone and 5G smart phone. The production of a foldable smart phone requires 10hours of skilled and 100 hours of unskilled labor. The production of a 5G smartphone requires 5 hours of skilled and 150 hours of unskilled labor. The companyhas 100 hours of skilled labor and 1,500 hours of unskilled labor normally availableper month for the production of phones. The maximum number of 5G and foldablephones that can be sold each day are 1000 and 500, respectively. The profitmargin from the sale of a foldable phone is $400, whereas it is $300 from a 5Gphone. The company has set the following goals:1. Minimize the over utilization of skilled labor since it is hard to obtain in thelabor market. 2. Minimize the under utilization of unskilled labor. 3. Meet the demand as much as possible. Formulate the above as a goal programming problem and solve using Excel.
Q2. A department store plans to schedule its annual advertising. The total budgetis set at $200,000. The store can purchase local radio spots at $100 per spot, localtelevision spots at $500 per spot and local newspaper advertising at $200 per ad.The payoff from each advertising medium is a function of its audience size andaudience characteristics. The generally accepted objective criterion for advertisingis audience points, reflected in the following table:MediumPointsRadio30 per spotTelevision150 per spotNewspaper150 per adThe president of the firm has established the following goals for the campaign:1. The total budget should not exceed $200,000. 2. Meet the contract with the local television station that requires that thefirm spend at least $30,000.