Toothpase Package Designs
If one design is just as likely to be selected by the consumer,
as any other design then the probability of each design is going to be the same.
Let A denote the event of selecting Design 1
Let B denote the event of selecting Des

1. (5 points)
For the payoff table below, the decision maker will use P(s1) = .15, P(s2) = .5, and P(s3) = .35.
s1
Decision
d1
-5000
d2
-11,111
a.
b.
State of Nature
s2
s3
1000
-1111
10,000
40,000
What alternative would be chosen according to expected val

8) Identify the feasible region for the following set of constrainsts:
2A-1B <=0
1.5B-1A <=200
A, B >=0
Answers: Graph is sent separately
2A - 1B 0
X
A
B
Y
0
0
0
0
If A = 0, B=0
If B=0, A = 0
2A - 1B <=0 -> can be simply be written as 2A -1B< = 0 -> 2A <=

Microsoft Excel 14.0 Sensitivity Report
Worksheet: [Chapter9HW.xlsx]Problem 1
Report Created: 4/14/2016 9:28:06 AM
Variable Cells
Cell
Name
$H$15 Solutions T
$I$15 Solutions R
$J$15 Solutions N
Final
Value
Reduced
Cost
4
14
10
Objective
Allowable
Allowabl

1) (5)
A store store is looking to stock the following: necklaces, bracelets, rings, and earrings. The objective function
measures time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions. Setup an LP pr
following questions.
M

Question 8
Profit / unit for Product 1
10
Profit / unit for Product 2
5
No. of hours/ unit produced for Product 1
5
No. of hours/ unit produced for Product 2
2
No. Of units produced for Product 1
X
No. of units produced for Product 2
Y
Total Production Ca

Quant Methods-Test 1
1) (5 points)
A snack food manufacturer buys corn for tortilla chips from two cooperatives, one in Iowa and one in Illinois
a) Define variables that would tell how many units to purchase from each source.
b) Develop an objective funct

1)
s.t
Max 3A + 2B
1A + 1B <=10
3A + 1B <=24
1A + 2B <=16
A,B >=0
Answers
a) Graph will be sent separately
1A + 1B = 10
If A = 0, B=10
X
If B= 0, A = 10
A
(A,B) = (10,10)
B
3A + 1B = 24
If A = 0, B = 24
If B=0, A = 8
(A,B) = (8,24)
1A + 2B = 16
If A = 0,