Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 6, Problem 74P
Summary Introduction
To determine: The way Company S can use to maximize the rental income.
Introduction: The variation between the present value of the
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Long-Life Insurance has developed a linear model that it uses to determine the amount of term life Insurance a family of four should
have, based on the current age of the head of the household. The equation is:
y=150 -0.10x
where
y= Insurance needed ($000)
x = Current age of head of household
b. Use the equation to determine the amount of term life Insurance to recommend for a family of four of the head of the household is
40 years old. (Round your answer to 2 decimal places.)
Amount of term life insurance
thousands
A college student works in both the school cafeteria and
library. She works no more than 12 hours per week at the
cafeteria, and no more than 16 hours per week at the
library. She must work at least 20 hours each week. Write
a system of inequalities that describes all the given
conditions.
Write a system of inequalities letting x= number of hours
worked at the cafeteria per week and y = number of hours
worked at the library per week.
x+yz x≤ ys
Long-Life Insurance developed a linear model to determine the amount of term life insurance a family of four should have, based on the head of the household's current age.
The equation is: y = 163 -0.45xwherey = Insurance needed ($000)x = Current age of head of household
Calculate the amount of term life insurance you would recommend for a family of four if the head of the household is 53 years old. (Round your answer to 2 decimal places.)
Chapter 6 Solutions
Practical Management Science
Ch. 6.3 - Prob. 1PCh. 6.3 - Prob. 2PCh. 6.3 - Solve Problem 1 with the extra assumption that the...Ch. 6.3 - Prob. 4PCh. 6.3 - Prob. 5PCh. 6.3 - Prob. 6PCh. 6.3 - Prob. 7PCh. 6.3 - Prob. 8PCh. 6.3 - Prob. 9PCh. 6.3 - Prob. 10P
Ch. 6.4 - Prob. 11PCh. 6.4 - Prob. 12PCh. 6.4 - Prob. 13PCh. 6.4 - Prob. 14PCh. 6.4 - Prob. 15PCh. 6.4 - Prob. 16PCh. 6.4 - Prob. 17PCh. 6.4 - Prob. 18PCh. 6.4 - Prob. 19PCh. 6.4 - Prob. 20PCh. 6.4 - Prob. 21PCh. 6.4 - Prob. 22PCh. 6.4 - Prob. 23PCh. 6.5 - Prob. 24PCh. 6.5 - Prob. 25PCh. 6.5 - Prob. 26PCh. 6.5 - Prob. 28PCh. 6.5 - Prob. 29PCh. 6.5 - Prob. 30PCh. 6.5 - In the optimal solution to the Green Grass...Ch. 6.5 - Prob. 32PCh. 6.5 - Prob. 33PCh. 6.5 - Prob. 34PCh. 6.5 - Prob. 35PCh. 6.6 - Prob. 36PCh. 6.6 - Prob. 37PCh. 6.6 - Prob. 38PCh. 6 - Prob. 39PCh. 6 - Prob. 40PCh. 6 - Prob. 41PCh. 6 - Prob. 42PCh. 6 - Prob. 43PCh. 6 - Prob. 44PCh. 6 - Prob. 45PCh. 6 - Prob. 46PCh. 6 - Prob. 47PCh. 6 - Prob. 48PCh. 6 - Prob. 49PCh. 6 - Prob. 50PCh. 6 - Prob. 51PCh. 6 - Prob. 52PCh. 6 - Prob. 53PCh. 6 - Prob. 54PCh. 6 - Prob. 55PCh. 6 - Prob. 56PCh. 6 - Prob. 57PCh. 6 - Prob. 58PCh. 6 - Prob. 59PCh. 6 - Prob. 60PCh. 6 - Prob. 61PCh. 6 - Prob. 62PCh. 6 - Prob. 63PCh. 6 - Prob. 64PCh. 6 - Prob. 65PCh. 6 - Prob. 66PCh. 6 - Prob. 67PCh. 6 - Prob. 68PCh. 6 - Prob. 69PCh. 6 - Prob. 70PCh. 6 - Prob. 71PCh. 6 - Prob. 72PCh. 6 - Prob. 73PCh. 6 - Prob. 74PCh. 6 - Prob. 75PCh. 6 - Prob. 76PCh. 6 - Prob. 77PCh. 6 - Prob. 78PCh. 6 - Prob. 79PCh. 6 - Prob. 80PCh. 6 - Prob. 81PCh. 6 - Prob. 82PCh. 6 - Prob. 83PCh. 6 - Prob. 84PCh. 6 - Prob. 85PCh. 6 - Prob. 86PCh. 6 - Prob. 87PCh. 6 - Prob. 88PCh. 6 - Prob. 89PCh. 6 - Prob. 90PCh. 6 - Prob. 91PCh. 6 - Prob. 92PCh. 6 - This problem is based on Motorolas online method...Ch. 6 - Prob. 94PCh. 6 - Prob. 95PCh. 6 - Prob. 96PCh. 6 - Prob. 97PCh. 6 - Prob. 98PCh. 6 - Prob. 99PCh. 6 - Prob. 100PCh. 6 - Prob. 1CCh. 6 - Prob. 2CCh. 6 - Prob. 3.1CCh. 6 - Prob. 3.2CCh. 6 - Prob. 3.3CCh. 6 - Prob. 3.4CCh. 6 - Prob. 3.5CCh. 6 - Prob. 3.6C
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- A large food chain owns a number of pharmacies that operate in a variety of settings. Some are situated in small towns and are open for only 8 hours a day, 5 days per week. Others are located in shopping malls and are open for longer hours. The analysts on the corporate staff would like to develop a model to show how a store’s revenues depend on the number of hours that it is open. They have collected the following information from a sample of stores. Hours of Operation Average Revenue ($) 40 5958 44 6662 48 6004 48 6011 60 7250 70 8632 72 6964 90 11097 100 9107 168 11498 Use a linear function (e.g., y = ax + b; where a and b are parameters to optimize) to represent the relationship between revenue and operating hours and find the values of the parameters using the nonlinear solver that provide the best fit to the given data. What revenue does your model predict for 120 hours? Suggest a two-parameter…arrow_forwardMinimize Z= x1+2x2-3x3-2x4 subject to: x1+2x2-3x3+x4=4 x1+2x2+x3+2x4=4 x1, x2, x3,x4 are equal or greater then zeroarrow_forwardmoney borrowed for personal reasons; to be repaid within a specific time frame and with added interest money borrowed for the purchase of real estate; to be repaid within a specific time frame and with added interest money borrowed for business reasons; to be repaid within a specific time frame and with added interest money borrowed for the purchase of a vehicle; to be repaid within a specific time frame and with added interest : Business Loan :: Auto Loan :: Mortgage Loan :: Personal Loan 1 4 6. 8. 9. Finish Siarrow_forward
- Use excel for this problem A trust officer at the Blacksburg National Bank needs to determine how to invest $150,000 in the following collection of bonds to maximize the annual return. Bond Annual Return Maturity Risk Tax Free A 9.5% Long High Yes B 8.0% Short Low Yes C 9.0% Long Low No D 9.0% Long High Yes E 9.0% Short High No The officer wants to invest at least 40% of the money in short-term issues and no more than 20% in high-risk issues. At least 25% of the funds should go in tax-free investments, and at least 45% of the total annual return should be tax free. Formulate the LP model for this problem. Create the spreadsheet model and use Solver to solve the problem.arrow_forwardYearly oil production in Mexico, and yearly oil imports of the US from Mexico can be represented by the functions: P(t) = 3.0 – 0.13t million barrels I(t) 1.4 + 0.06t million barrels in year t, where t is the time in years since the start of 2000. a) What is represented by the functions P(t) – I(t) and I(t)/P(t)? What are the units for these functions? b) Let q(t) = I(t)/P(t). Compute q'(t) and q'(3). Interpret in a complete sentence. c) In marginal analysis, we would use q' (3) to estimate what quantity? Compute the actual value of that quantity and compare it with q'(3).arrow_forwardYou are required to create the following tables in a database named STUDENT_REGISTRATIONS. Ensure that you create the database and table objects exactly as depicted below. STUDENTS STUDENT_ID VARCHAR(8) NOT NULL PRIMARY KEY STUDENT_NAME VARCHAR(40) NOT NULL STUDENT_SURNAME VARCHAR(40) NOT NULL MODULES MODULE_ID VARCHAR(8) NOT NULL PRIMARY KEY MODULE_NAME VARCHAR(40) NOT NULL MODULE_CREDIT SMALLINT NOT NULL STUDENT_MODULES STUDENT_ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES STUDENTS(STUDENT_ID) MODULE ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES MODULES(MODULE_ID) LECTURERS LECTURER_ID VARCHAR(8) NOT NULL PRIMARY KEY LECTURER_NAME VARCHAR(40) NOT NULL LECTURER_SURNAME VARCHAR(40) NOT NULL O The Independent Institute of Education (Pty) Ltd 2021 Page 3 of 10 19, 20; 21 2021 LECTURER_MODULES MODULE_ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES MODULES(MODULE_ID) LECTURER_ID VARCHAR(8) NOT NULL PRIMARY KEY FOREIGN KEY REFERENCES LECTURERS(LECTURER_ID)arrow_forward
- A trust officer at the Blacksburg National Bank needs to determine how to invest $100,000 in the following collection of bonds to maximize the total annual return (before tax). Bond Annual Return Maturity Risk Tax-Free A 9.5% Long High Yes B 8.0% Short Low Yes C 9.0% Long Low No D 9.0% Long High Yes E 9.0% Short High No The officer wants to invest as least 50% of the money in short-term issues and no more than 50% in high-risk issues. At least 30% of the funds should go in tax-free investments, and at least 40% of the total annual return should be tax free. Suppose the decision variable represents the amount of money invested in bond for . Formulate a linear programming (LP) model to solve the optimal strategy. 1. Write down the constraint using the defined decision variables requiring “invest as least 50% of the money in short-term issues”. 2. Write down the constraint using the defined decision…arrow_forwardSubject: FUNDAMENTALS OF BUSINESS ANALYTICS Problem: The Supermarket contains over 14,000 transactions made by supermarket customers over a period of approximately two years. (The data are not real, but real supermarket chains have huge data sets just like this one.) A small sample of the data appears in in the Figure below, Column B contains the date of the purchase, column C is a unique identifier for each customer, columns D–H contain information about the customer, columns I–K contain the location of the store, columns L–N contain information about the product purchased (these columns have been hidden to conserve space), and the last two columns indicate the number of items purchased and the amount paid. Question: Based on the given problem and picture provided, determine which variables are categorical and numerical?arrow_forwardA company makes three types of candy and packages them in three assortments. Assortment I contains 4 cherry, 4 lemon, and 12 lime candies, and sells for a profit of $4.00. Assortment Il contains 12 cherry, 4 lemon, and 4 lime candies, and sells for a profit of $3.00. Assortment III contains 8 cherry, 8 lemon, and 8 lime candies, and sells for a profit of $5.00. They can make 5,200 cherry, 4,000 lemon, and 6,000 lime candies weekly. How many boxes of each type should the company produce each week in order to maximize its profit (assuming that all boxes produced can be sold)? What is the maximum profit? Select the correct choice below and fill in any answer boxes within your choice. OA. The maximum profit is $ when boxes of assortment 1. boxes of assortment II and assortment III are produced. OB. There is no way for the company to maximize its profit boxes ofarrow_forward
- minimize Z = 5x1 + x2 subject to 3x1 + 4x2 = 24 0 x1 x1 + 3x2arrow_forwardSaneguard is a large bottling company. Saneguard’s Board of Directors has seven members. Each director is elected based on aptitude, knowledge, experience and leadership criteria. All Board members and their representatives attend meetings. Four of these members and their corresponding alternates are independent. The Chairman of the Board, also independent, represents the minority shareholders. At Saneguard, the positions of CEO and Chairman of the Board are filled by different individuals. Saneguard's external auditors reports to the Board of Directors and the Audit Committee, while the chief of internal audit reports to the CEO and Audit Committee. Which of the following is not true according to the international code of corporate governance? The role of chairman and chief executive officer should not be separated. The positions of CEO and Chairman of the Board in Saneguard are filled by different individuals. The Audit committee should review and monitor…arrow_forwardA trust officer at the Blacksburg National Bank needs to determine how to invest $150,000 in the following collection of bonds to maximize the annual return. Bond Annual Return Maturity Risk Tax Free A 9.5% Long High Yes B 8.0% Short Low Yes C 9.0% Long Low No D 9.0% Long High Yes E 9.0% Short High No The officer wants to invest at least 40% of the money in short-term issues and no more than 20% in high-risk issues. At least 25% of the funds should go in tax-free investments, and at least 45% of the total annual return should be tax free. Formulate the LP model for this problem. Create the spreadsheet model and use Solver to solve the problem. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,