Economics 2260 Problem Set #1
1.
Suppose a firm has two plants, A and B. The plants marginal cost curves are given by:
MCA = 10 + 2QA and MCB = 6 + QB .
a) Suppose the firm is producing 100 units. To minimize cost how much should
the firm produce in plant
Case Problem 1 WAGNER FABRICATING COMPANY
Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that it currently purchases from a supplier. Forecasted annual demand for the part is 3200 units. Wagner operat
Chapter 4 Linear Programming Applications
Learning Objectives
1. 2. 3. 4. Learn about applications of linear programming that have been encountered in practice. Develop an appreciation for the diversity of problems that can be modeled as linear programs.
PLEASE NOTE THE FOLLOWING:
NOTHING ON YOUR TABLE EXCEPT A HELP-SHEET AND CALCULATOR.- ONLY PAPER DICTIONARY IS ALLOWED. SWITCH OFF AND REMOVE YOUR CELL PHONE
SANCTION: YOU WILL BE REMOVED FROM THE EXAM ROOM AND FAIL THE COURSE
WRITE YOUR NAME ON YOUR
PROBLEMS
Note: The following problems have been designed to give you an understanding and appreciation of the broad range of problems that can be formulated as linear programs. You should be able to formulate a linear programming model for each of the pro
Economics 1220
Problem Set #1 - Introduction, Demand and Supply
1.
A nation with fixed quantities of resources is able to produce any of the following
combinations of bread and ovens.
Loaves of Bread
(millions)
75
60
45
30
15
0
Ovens
(thousands)
0
12
22
3
Case Problem 1 WORKLOAD BALANCING
Digital Imaging (DI) produces photo printers for both the professional and consumer markets. The DI consumer division recently introduced two photo printers that provide color prints rivaling those produced by a professio
GLOSSARY
Program evaluation and review technique (PERT) A network-based project scheduling procedure. U LG 1 14 T 3 i Critical path method (CPM) A network-based project scheduling procedure. Activities Specific jobs or tasks that are components of a proje
Case Problem 1 PLANNING AN ADVERTISING CAMPAIGN
The Flamingo Grill is an upscale restaurant located in St. Petersburg, Florida. To help plan an advertising campaign for the coming season, Flamingo's management team hired the advertising firm of Haskell &
532
INTRODUGION TO MANAGEMENT SCIENCE
Lead-time demand Cycle time
The number of units demanded during the lead-time period.
The length of time between the placing of two consecutive orders.
Constant supply rate A situation in which the inventory is built
Decision alternatives Options available to the decision maker. Chance event An uncertain future event affecting the consequence, or payoff, associated with a decision. Consequence The result obtained when a decision alternative is chosen and a chance even
PROBLEMS
.' ~,.
ti: ~ ff
1.
Recall the RMC problem (Chapter 2, Problem 21). Letting F
= tons of fuel additive
= tons of solvent base
S
leads to the formulation
Max 40F + 30S s.t.
%F + %S:$ 20 SS :$ 5 %F + %oS :S 21 ~S~O
Material 1 Material 2 Material 3
,
Case Problem 1 PRODUCT MIX
TJ's, Inc., makes three nut mixes for sale to grocery chains located in the Southeast. The three mixes, referred to as the Regular Mix, the Deluxe Mix, and the Holiday Mix, are made by mixing different percentages of five types
Case Problem R. C. COLEMAN
R. C. Coleman distributes a variety of food products that are sold through grocery store and supermarketoutlets. The company receives orders directly from the individual outlets, with a typical order requesting the delivery of s
Case Problem 1 WAGNER FABRICATING COMPANY
Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that it currently purchases from a supplier. Forecasted annual demand for the part is 3200 units. Wagner operat
The O'Neill Shoe Manufacturing Company will produce a special-style shoe if the order size is large enough to provide a reasonable profit. For each special-style order, the company incurs a fixed cost of $1000 for the production setup. The variable cost i
GLOSSARY
Economic order quantity (EOQ) The order quantity that minimizes the annual holding cost plus the annual ordering cost. Constant demand rate An assumption of many inventory models that states that the same number of units are taken from inventory
204
INTRODUCTIONO MANAGEMENT T SCIENCE
PROBLEMS
Note: The following problems have been designed to give you an understanding and appreciation of the broad range of problems that can be formulated as linear programs. You should be able to formulate a linea
PROBLEMS
1. Which of the following mathematical relationships could be found in a linear programming model, and which could not? For the relationships that are unacceptable for linear programs, state why. a. - l A + 2B 5 7 0 b. 2 A - 2B = 50 c. 1A - 2 ~ 5
Case Problem 1 PRODUCT MIX
TJ's, Inc., makes three nut mixes for sale to grocery chains located in the Southeast. The three mixes, referred to as the Regular Mix, the Deluxe Mix, and the Holiday Mix, are made by mixing different percentages of five types
Chapter 3 Linear Programming: SensitivilyAnalysis and Interpretation of Solution
19. Better Products, Inc., manufactures three products on two machines. In a typical w 40 hours are available on each machine. The profit contribution and production time hou
Chapter 7
Transportation, Assignment, and Transshipment Problems
355
Outgoing arc The arc corresponding to an occupied cell that is dropped from solution during an iteration of the transportation simplex method. MODI method A procedure in which a modified
MATH 2310
CH 11
2008-02
1
WHAT-IF QUESTIONS
CH 11 Exercise 11.13
Texts Solution: The quantity called for in each part is shown in the answer.
D = 7200 units/year;
P = 25000 units/ year (250 day year);
Ch = (0.18)(14.50) = 2.61;
Co = 150.
13. a.
b.
c.
d.
e
MATH 2310
1
INVENTORY COST MINIMIZATION: Multivariate Optimization
Economic Order Quantity: Inventory Cost Control a classic model extended
A firm holds inventory of a good a retailer would have a stock of goods for sale; a manufacturer would
hold a stock
Location
1
2
3
4
5
6
7
Demand
Location
4
5
1
2
3
6
7
Supply
0
20
M
M
25
M
M
16
M
0
M
M
30
M
45
21
20
M
0
M
M
35
M
19
M
30
M
0
M
M
M
16
M
M
25
15
0
28
M
18
M
M
M
M
M
0
12
16
M
M
M
27
M
M
0
22
24
16
16
19
16
21
16
Had wrong cost in node #2 => node #7
Locati
Math 2310 - Quantitative Methods In Business
Pichmony Anhaouy
Department of Mathematics & Statistics
Langara College
Chapter 7 : Integer Linear Programming
Pichmony Anhaouy ([email protected])
Math 2310 Notes - Chapter 7
Slide 1
(A) Types of Integer Pro
Math 2310 - Quantitative Methods In Business
Pichmony Anhaouy
Department of Mathematics & Statistics
Langara College
Chapter 4 : Linear Programming: Applications
Part A
Pichmony Anhaouy ([email protected])
Math 2310 Notes - Chapter 4, Part A
Slide 1
(A)
Math 2310 - Quantitative Methods In Business
Pichmony Anhaouy
Department of Mathematics & Statistics
Langara College
Chapter 3 : Linear Programming: Introduction to Sensitivity Analysis
Part B
Pichmony Anhaouy ([email protected])
Math 2310 Notes - Chapt
Math 2310 - Quantitative Methods In Business
Pichmony Anhaouy
Department of Mathematics & Statistics
Langara College
Chapter 3 : Linear Programming: Introduction to Sensitivity Analysis
Part A
Pichmony Anhaouy ([email protected])
Math 2310 Notes - Chapt
Math 2310 - Quantitative Methods In Business
Pichmony Anhaouy
Department of Mathematics & Statistics
Langara College
Chapter 4 : Linear Programming: Applications
Part B
Pichmony Anhaouy ([email protected])
Math 2310 Notes - Chapter 4, Part B
Slide 1
(C)