20) The next table shows a cost matrix for an assignment problem. The optimal assignme be worker 1 3 worker 2 2 6 3 1 3 2 4 worker 3 worker 4 6. job 1 job 2 job 3 job 4 e) Z=6 f) Z=9 g) Z=11 h) Z=5 4) 2) 3.
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.23. The theory of loss aversion and reference dependence implies that (a) equilibrium allocations will usually be outside the Pareto set (b) the location of the Pareto set may depend on the initial allocation (c) the Pareto set is piecewise linear (d) the Pareto set is reduced to a single point in the Edgeworth box (e) the Pareto set lies on two adjacent sides of the Edgeworth box2. Maximize subject to p = x + 2y X +3y24 2x + y 18 x ≥ 0, y ≥ 0.
- 1. XYZ Company is considering making a new product which requires several types of raw material: In Stock Required Raw Material Description Ayay Nil 100 Replacement Cost is $5 per unit. This material has limited supply. This material is also used to produce another product which has a contribution margin of $3.5 per unit of material Ayay. All available supply of material Ayay are needed to produce this another product. Benzam Nil 40 Current purchase price is $7/unit. Chizzum 100 150 purchased for $10/unit Current purchase price is $14/unit. The material has no use in the company other than for the project under consideration. Units in inventory can be sold for $12/unit. Dedee 120 50 purchased for $20/unit Current purchase price is $22/unit. The material is regularly used in current manufacturing operations. Required: Compute the relevant cost of each material.TUTORIAL DECISION ANALYSIS 1. e) 0 B) 2. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gasoline station. Susan's problem is to decide how large her station should be. The annual returns will depend on both the size of her station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Susan developed the following table: Size of First Station Small Medium Large Extra Large Stock Market Bonds CDs Good Market (5) Probability a) b) 50,000 80,000 Decision Alternative. 100,000 300,000 Fair Market (S) 20,000 30,000 30,000 25,000 For example, if Susan constructs a small station and the market is good, she will realize a profit of $50,000. what is the criterion of realism decision? Use an a value of 0.8. Develop an opportunity loss table? What is the minimax regret decision? Mickey Lawson is considering investing some money that he…Exercise 4 The Fly-Right Airplanc Company builds small jet planes to scll to corporations for the use of the exccutives. To meet the needs of these exccutives, the company's customers sometimes order a custom design of the air planes being purchased. When this occurs, a substantial start up cost is incurred to intiate production of these airplanes. Fly-Right has recently reccived purchase requests from three customers with short deadlines. However, as the company's production facilities already are almost completely tied up filling previous orders, it will not be able to accept all three orders. Therefore a decision now needs to be made on the number of airplancs the company will agree to produce (if any) for cach of the three customers. The table below gives the relevant information on cach of the three customers. Each customer has a fixed start-up cost, paid just once irrespective of how many plancs are produced for that customer. The marginal net revenue is received per plane…
- Suppose an Excel spreadsheet model has been partially created as shown below. 1 2 3 4 5 6 7 8 9 10 11 12 A From 0 0.2 0.5 0.9 B To 0.2 0.5 0.9 1 C Lead Time Probability Lead Time (in days) 1 2 3 4 0.2 0.3 0.4 0.1 D What formula should be used to generate a lead time (in days) from this distribution? =VLOOKUP(RAND(),A6:D9,3) =VLOOKUP(RAND(),A6:D9,4) =VLOOKUP(A6:A9,A6:D9,3) =VLOOKUP(A6:A9,A6:D9,4) EData collected on the yearly demand for 50- pound bags of fertilizer at Wallace Garden Supply are shown in the following table. Estimate demand for vear 12 with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other two years are each given a weight of 1. Year Demand (Bags) 4 6. 3 4. 4. 10 6 8. 8. 8. 12 10 14 11 15 O A. 13.67 O B. 14.00 OC. 14.87 O D. 11.79 Click to select your answer. Us MacBook Air 888 * ES F2 F4 F6 F7 4) F9 F10 %23 2$ & * 4 6. 7 8 9. Q W R T Y F C V В alt command command option %#35. The manager of a fast-food restaurant featuring hamburgers is adding salads to the menu. If they choose to include a salad bar (i.e., the MAKE option), it will cost $14,000 in annual fixed costs for the leased equipment and added employee, and $1 per salad variable cost. If they choose to have pre-made salads (i.e., the BUY option), it will cost $3 per salad. The manager expects to sell 7,500 salads per year. What is the make or buy quantity (i.e., the breakeven point between making vs. buying)?
- Due to COVID-19, Northface faced a shortage of "regular" manufacturing workers and asked its executives to work on the factory floor without any extra pay. What is a possible consequence? A. favorable materials quantity variance B. Favorable labor rate variance C. Unfavorable materials price variance D. unfavorable labor efficiency variance29.2 1 8:20 +99 KB/s Spencer Cruz chose to research a topic that he is very interested with. He completed the necessary chapters for him to be allowed to proceed to defense proposal. As he prepared for data gathering after the successful proposal, he obtained a list of companies from the Business Bureau of his city. He realized that those establishments where his respondents are employed are all located in far-flung areas. AS he has concerns with regard to expenses to be incurred in data gathering, He remembered that some of his neighbors work in those companies. He contacted them immediately so that they will be the ones to hand the survey questionnaires to their colleagues. Because of the busy activity of distributing questionnaires and people answering them, it has affected the productivity and output in one of the companies being studied. The middle management caught Mr. Cruz's neighbor and immediately implemented a sanction for such activity. 1. What is unethical about the data…13. Lemon Company makes products X and Y, with the following production constraints representing two machines: Machine 1: 2X+3Y18 Machine 2: 2X+Y<10 If the profit equation is Z-4x+2y, then what is the maximum possible profit? a P18 b. P20 С. Р21 d. P24