A company wishes to produce two types of souvenirs: Type A and Type B. Each Type A souvenir will result in a profit of $1.40, and each Type B souvenir will result in a profit of $1.60. To manufacture a Type A souvenir requires 2 minutes on Machine I and 1 minute on Machine II. A Type B souvenir requires 1 minute on Machine I and 3 minutes on Machine II. There are 2 hours available on Machine I and 5 hours available on Machine II. (a) For a meaningful solution, the time available on Machine II must lie between and min. (Enter your answers from smallest to largest.) (b) If the time available on Machine II is changed from 300 min to (300 + k) min, with no change in the maximum capacity for Machine I, then Ace Novelty's profit is maximized by producing Type A souvenirs and Type B souvenirs, where ≤ k ≤ . (c) Find the shadow price for Resource 2 (associated with constraint 2). (Round your answer to the nearest cent.) $

A company wishes to produce two types of souvenirs: Type A and Type B. Each Type A souvenir will result in a profit of $1.40, and each Type B souvenir will result in a profit of $1.60. To manufacture a Type A souvenir requires 2 minutes on Machine I and 1 minute on Machine II. A Type B souvenir requires 1 minute on Machine I and 3 minutes on Machine II. There are 2 hours available on Machine I and 5 hours available on Machine II. (a) For a meaningful solution, the time available on Machine II must lie between and min. (Enter your answers from smallest to largest.) (b) If the time available on Machine II is changed from 300 min to (300 + k) min, with no change in the maximum capacity for Machine I, then Ace Novelty's profit is maximized by producing Type A souvenirs and Type B souvenirs, where ≤ k ≤ . (c) Find the shadow price for Resource 2 (associated with constraint 2). (Round your answer to the nearest cent.) $

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter12: Queueing Models

Section12.5: Analytic Steady-state Queueing Models

Problem 37P

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