BADM 3963 Linear Programming homework 3
Summer 2017
Due 7/17, 9pm
Write the LP formulations for problems 1, 2 and 3 in a Word document
Set up and solve problems 4, 5, and 6 in Excel using Excel SOLVER
Put each problem on a separate worksheet in the Exc
Marketing / Merchandise Display:
The upscale toy store August Kids has a picture window with 100 linear feet of display space. The theme
this month is bicycles and tricycles. At least ten tricycles and eight bicycles are to be displayed. Each
tricycle nee
Summer 2017
July 10, 2017
Nick Rowlett
BADM 3963 Linear Programming Formulation homework #2
1. Management at the Riverside Diner is trying to decide how to allocate a monthly advertising budget of
$1800. They are considering newspaper advertising and radi
BADM 3963 Linear Programming Formulation homework #2
Summer 2017
Write the LP formulations for the following problems in a Word document.
Submit Word document in BB Assignments - review comments & notes from LP hmwk #1
before submitting this assignment.
D
1
Chapter 3 Decision Tree Handout (Revised 6/18/13):
Using Treeplan to Solve Decision Tree Problems with Excel
TreePlan is an add-in to Excel spreadsheets that greatly simplifies the process of
constructing decision trees. Excel does have sufficient resou
BADM Exam 1 Review Summer 2017
True/False
Indicate whether the statement is true or false.
_
1. Stating that two events are statistically independent means that the probability of one event occurring is
independent of the probability of the other event ha
BADM 3963 CRN 21089
Real World Experience Example 1
Student
Delta Hardware Stores is seeking a shipping policy for paint from its Phoenix plant and an
ordering policy of paint from its subcontractor to meet demand at its warehouses in San Jose, Fresno,
an
Thompson Lumber Example
Decision Making Under Uncertainity
Minimax Regret Using
Opprotunity Loss
States of Nature
Alternative
Lg Plant
Sm Plant
Do Nothing
Maximax:
Minimax:
Criterion of
Realism:
Equally likely:
Minimax Regret:
Criterion of Equally
UnFav M
States of Nature
Alternative Fav Mkt
Lg Plant
Small Plant
Do Nothing
Probability
Maximax
Maximin
Criterion of Realisim
Equally Likely
Minimax Regret
EMV
Alpha =
Criterion Equally
UnFav Mkt Row Max Row Min of Realism Likely
0
0
0
0
0
0
0
0
0
0 Selected alt
P7-14
Objective Statment
Subject to:
Max Profit = 25a + 15f
240 3a+ 2f
140 2a + f
Profit at Corners
(0,120)
$
1,800
(40,60)
$
1,900
(70,0)
$
1,750
Optimal Profit of $1900 exists at 40 AC's and 60 fans
Graph
P7-18
Objective Statement
Subject to:
Cost at Co
BADM 3963 Glossary Chapter 1
Break-even point (BEP): The quantity of sales that results in zero profit.
Deterministic model: A model in which all values used in the model are known with complete certainty.
Mathematical model: A model that uses mathematica
BADM 3963 Chapter 3 Glossary
Alternative: A course of action or a strategy that may be chosen by a decision maker.
Coefficient of realism: A number from 0 to 1. When the coefficient is close to 1, the decision criterion is
optimistic. When the coefficient
BADM 3963 Chapter 4 Glossary
Binary variable: See Dummy variable
Coefficient of correlation (r): A measure of the strength of the relationship between two variables.
Coefficient of determination (r2): The percent of the variability in the dependent variab
To: Dale Schrimschaw
From:
Subject: RWE #1
Southwestern Universitys president, Dr. Marty Starr was concerned not only about the
cost of expanding the existing stadium versus building a new stadium but also about the ancillary
activities. The food services
Breakeven Analysis
A Scatter Chart of the Data in A26:C28; at BE
Data
Fixed Cost
Variable Cost
Revenue
Volume (Optional)
Results
Breakeven points
Units
Dollars $
Volume Analysis @
Cost
Revenue
Profits
$
$
$
Graph
Units
Cost
0
400
4500
Option 1
$ 1,000.00
To:
Hal Barnes, Production Manager
Galaxy Industries
From: Student Consulting Group
Subj: Optimal Production Quantities for Space Rays and Zappers
Galaxy Industries wishes to determine production levels for its Space Rays and Zapper water guns, which
will
Real World Experience Report Guidelines
BADM 3963
Last Revised 12/27/15
Follow the seven step quantitative analysis (QA) approach as depicted in Figure 1.1, page 3 of the course
textbook for each real world experience (RWE) assignment; unless the specific
RWE Example 2 - Galaxy Industries
Dozen
Space Rays Zapers
320
360
Total
Profit
Plastic
Prod Time
Total
Mix
8
2
3
1
1
5
1
4
1
-1
4360
1000
2400
680
-40
1000 pounds
2400 minutes
700 maximum production
350 Most Space Rays can exceed Zappers
Microsoft Ex
BADM 3963 Glossary Chapter 2
Collectively exhaustive events: A collection of all possible outcomes of an experiment.
Conditional probability: The probability of one event occurring given that another has taken place.
Dependent events: The situation in whi
Galaxy Industries
Galaxy Industries is an emerging toy manufacturing company that produces two space age water guns
that are marketed nationwide, primarily to discount toy stores. Although many parents object to the
potentially violent implications of the
BADM 3963 CRN 30043
Real World Experience 1
Southwestern University is contemplating building a new stadium and needs a breakdown of
what each ancillary activity contributes to cover its own expenses. The objective is to make each activity
its own profit
Farris Billard Supply - BEP and Profit Analysis
Selling Price
Variable Cost
Fixed Cost
BEP
$
$
$
You can start the one- or two-variable table anywhere on the sheet. In our assign
column value will be the variable cost (v) and the row values will be the Sa
HW 3, Ch. 3 Solutions
3-17. a. Decision making under uncertainty.
b. Maximax criterion.
c. Sub 100 because the maximum payoff for this is $300,000.
Equipment
Favorable
Sub 100
Oiler J
Texan
Unfavorable
300,000
250,000
75,000
Row
Row
Maximum
Minimum
300,00
BADM 3963 HW 2 Ch. 2 Solutions
2-14.
Grade
Probability
A
80
0.27 =
300
B
75
0.25 =
300
C
90
0.30 =
300
D
30
0.10 =
300
F
25
0.08 =
300
1.0
Thus, the probability of a student receiving a C in the course is 0.30 = 30%.
The probability of