A company produces widgets at plants 1 and 2. It costs 135x1y2 dollars to produce x units at plant 1 and 260x1y3 dollars to produce x units at plant 2.Each plant can produce up to 1000 units. Each unit produced can be sold for $12. At most 1700 widgets can be sold. Determine how the company canmaximize its profit.

A company produces widgets at plants 1 and 2. It costs 135x1y2 dollars to produce x units at plant 1 and 260x1y3 dollars to produce x units at plant 2.Each plant can produce up to 1000 units. Each unit produced can be sold for $12. At most 1700 widgets can be sold. Determine how the company canmaximize its profit.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 41P: The file P02_41.xlsx contains the cumulative number of bits (in trillions) of DRAM (a type of...

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The file P02_41.xlsx contains the cumulative number of bits (in trillions) of DRAM (a type of computer memory) produced and the price per bit (in thousandth of a cent). a. Fit a power curve that can be used to show how price per bit drops with increased production. This relationship is known as the learning curve. b. Suppose the cumulative number of bits doubles. Create a prediction for the price per bit. Does the change in the price per bit depend on the current price?
You now have 5000. You will toss a fair coin four times. Before each toss you can bet any amount of your money (including none) on the outcome of the toss. If heads comes up, you win the amount you bet. If tails comes up, you lose the amount you bet. Your goal is to reach 15,000. It turns out that you can maximize your chance of reaching 15,000 by betting either the money you have on hand or 15,000 minus the money you have on hand, whichever is smaller. Use simulation to estimate the probability that you will reach your goal with this betting strategy.
A company makes parts that cost $35.00 in material and labor. 92% of the parts are produced defect free and are sold for full price at $110 each. 2% of the parts made must be scrapped. Scrap parts are sold for $8.00 each. The remaining 6% of the parts made must be reworked at a cost of $12.00 each. After rework 1% still must be scrapped and the other 5% is sold at a discounted price of $90 each. a. Draw the tree diagram showing the quality cost situation. b. Determine the earnings per part. c. Determine the cost of poor quality (COPQ). d. Determine the earnings per part and COPQ if the rework operation was shut down and the parts that required reworking were just sold for scrap instead.
Barbara Flynn sells papers at a newspaper stand for $0.40. The papers cost her $0.30, giving her a $0.10 profit on each one she sells. From past experience Barbara knows that: a) 20% of the time she sells 150 papers. b) 20% of the time she sells 200 papers. c) 30% of the time she sells 250 papers. d) 30% of the time she sells 300 papers. Assuming that Barbara believes the cost of a lost sale to be $0.05 and any unsold papers cost her $0.30 and she orders 250 papers. Use the following random numbers: 14, 4, 13, 9, and 25 for simulating Barbara's profit. (Note: Assume the random number interval begins at 01 and ends at 00.) Based on the given probability distribution and the order size, for the given random number Barbara's sales and profit are (enter your responses for sales as integers and round all profit responses to two decimal places): Random Number Sales Profit 14 4 13 9 25
Giapetto is thinking of buying a new cutting tool for $25 to make toy soldiers and a new clamping tool for $20 to make toy trains. If he does not buy a new tool, he can still make a toy using the older tool he already has. However, using an old cutting tool leads to 50% of the produced soldiers and using an old clamping tool leads to 40% of the produced trains to be defective. With a new tool, there is no defective production. Giapetto cannot sell any defective product. Weekly demands (must be met exactly without left-over inventory) and productions costs are as follows: 1. Soldiers 2. Trains Demand (units/week) Production cost (S/unit) 100 300 12 14 There are other details about the problem which will be added later. Giapetto started formulating a mathematical model considering only the above description and defined the following decision variables: yi: Production quantity for type i toy, i = 1, 2 corresponding to soldiers and trains, respectively. Considering the above problem…
Company XYZ is specialized in producing and selling smart watches. The company currently has two products and is planning to improve it profits in the coming years. The company is thinking of introducing a sales commission to encourage its sales people to make more sales and improve company's profitability. When designing the sales commission the company should base the sales commission on: O a. None of the given answers O b. The selling price O c. The color of the product d. The contribution margin O e. The number of employees 14:02 W A a d0) ENG 15-04-2021 re to search hp prt sc end pg up delete home 40 96 & num 2$ backspace lock 3 6. 8. V. 8 A E R U home to 4 į 5 0 enter D G J K L. pause 1 shift 2 C end alt ctrl ins
Prove the following using strong induction. Suppose you are gifted a collection of 3n pokéballs; all of the the pokéballs have the same size and weight except for one which is slightly heavier, and otherwiselook and feel exactly the same as the others. You are tasked with identifying theheavy pokéball and have at your disposal a set of balancing scales which can be usedto compare the weights of two collections of pokéballs. The scales can show whetherthe two collections have the same weight, or can show which collection is heavier if theweights are different. Prove using strong induction that you can identify the heavypokéball out of 3n pokéballs using n weighing operations.
If an economy can produce a maximum of 10 units of good X and the opportunity cost of 1X is always 6Y, then what is the maximum units of good Y the economy can produce? 0 60 O 600 050 500
If a company currently has $1000 cash, $300 income every month and $200 profit every month, how many months would it take for a company to run out of money?
A company looking for venture capitalist funding is deciding on the design of its operating system (OS) for its new phone. The first option is to simply buy the OS from another company. This would result in sales of either 10,000 units if the market is not crowded with similar phones or sales of only 3,000 units if the market is crowded. If the company decides to design its own OS the phone would have sales of 70,000 units if the OS was popular but sales of only 2,000 if the OS was a failure. Suppose that to recoup the cost of designing their own OS the company would need to sell twice as many phones as when they simply buy the OS for the profit from the scenarios to be equal. Which option should the company choose if the probability that the market is/ is not crowded is 50% and the probability that the OS is popular is 75%?
Williams Auto has a machine that installs tires. The machine is now in need of repair. The machineoriginally cost $10,000 and the repair will cost $1,000, but the machine will then last two years.The labor cost of operating the machine is $0.50 per tire. Instead of repairing the old machine,Williams could buy a new machine at a cost of $5,000 that would also last two years; the labor costwould then be reduced to $0.25 per tire. Should Williams repair or replace the machine if it expectsto install 10,000 tires in the next two years?
ABC Corporation has recently given out a nine-month contract to a construction subcontractor. At the end of the first month, it becomes obvious that the subcontractor is not reporting costs according to an appropriate WBS level. ABC Corporation asks the subcontractor to change its cost reporting procedures. The subcontractor states that this cannot be done without additional funding. This problem has occurred with other subcontractors as well. What can ABC Corporation do about this?