Midterm2010

Midterm2010 - _ _ BUSI 410 MIDTERM QUIZ Wednesday, February...

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___________________________________________________________________________________ _ BUSI 410 – MIDTERM QUIZ Wednesday, February 23, 2010, 8-10pm This quiz consists of four short cases: Perfume Manufacturing, on p. 3, worth 20 points Sensitivity Analysis in a Manufacturing Setting on pp. 4-8, worth 30 points South Central Airlines on pp. 9-12, worth 25 points  Mandrell Toy Company on pp. 13-15, worth 25 points The quiz is open book, open notes, and open laptops. Your laptop’s wireless connectivity  must be disabled. The quiz is closed cell phones and closed friends.   Show all of your work on the quiz papers. Name________________________________________ Please Print Section (please circle):   MW 9:30 MW 11:00 MW 12:30 MW 2:00 Honor Code Pledge: I have neither given nor received unauthorized aid on this quiz.
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Perfume Manufacturing A. Rylon Corporation manufacturers Brute and Chanelle perfumes. The raw material needed to manufacture each type of perfume can be purchased for $3 per pound. Processing 1 pound of raw material requires 1 hour of laboratory time. Each pound of processed raw material yields 3 ounces of Regular Brute perfume and 4 ounces of Regular Chanelle perfume. Regular Brute can be sold for $7 per ounce and Regular Chanelle for $6 per ounce. Each year Rylon has 6000 hours of laboratory time available and can purchase up to 4000 pounds of raw material. Formulate, without solving, a linear optimization model that will determine Ronald’s investment strategy. In your mathematical formulation, explicitly state the following: 1. (5 points) Decision variables 2. (5 points) Constraints 3. (5 points) Objective function and objective criterion (min/max)
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4. (3 points) The marketing arm of Rylon Corporation believes that it is essential to maintain product diversity. Thus it recommends that Regular Brute production not exceed twice the amount of Regular Chanelle produced. Formulate a constraint to address the concerns of the marketing organization. 5. (2 points) Would adding the above constraint cause the optimal value of the objective function you defined in part (3) to increase or decrease or remain same compared to the scenario where you did not have this constraint? Explain.
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Sensitivity Analysis in a Manufacturing Setting A company manufactures printers and typewriters. These products contribute $100 and $75 to profit respectively. The resources required are as follows: Unskilled labor hours Skilled labor hours Pounds of raw material Printers 0.5 0.6 3 Typewriters 1 0.8 5 The company should produce at least 20 printers and 5 typewriters. 40 hours of skilled labor and 100 pounds of raw material is available. The company can rent up to 250 hours of unskilled labor for $20/hour. The model and optimal solution
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Midterm2010 - _ _ BUSI 410 MIDTERM QUIZ Wednesday, February...

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