In a production process model such as Repco’s, certain inputs make no sense in the usage table (the range B7:D9 of the model). For example, suppose that, in addition to current usages, each unit of drug A -requires one unit of drug C. Why does this result in a nonsensical problem? What happens if you run Solver on it anyway? What happens if you run Solver on it after adding a constraint that the sum of the units produced (over all three drugs) must be at least 1?

In a production process model such as Repco’s, certain inputs make no sense in the usage table (the range B7:D9 of the model). For example, suppose that, in addition to current usages, each unit of drug A -requires one unit of drug C. Why does this result in a nonsensical problem? What happens if you run Solver on it anyway? What happens if you run Solver on it after adding a constraint that the sum of the units produced (over all three drugs) must be at least 1?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter11: Simulation Models

Section11.2: Operations Models

Problem 8P: In Example 11.3, if a batch fails to pass inspection, the entire batch is unusable. Change the model...

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In Example 11.3, suppose you want to run five simulations, where the probability of passing inspection is varied from 0.6 to 1.0 in increments of 0.1. Use the RISKSIMTABLE function appropriately to do this. Comment on the effect of this parameter on the key outputs. In particular, does the probability of passing inspection have a large effect on when production should start? (Note: When this probability is low, it might be necessary to produce more than 25 batches, the maximum built into the model. Check whether this maximum should be increased.)
In Example 11.3, if a batch fails to pass inspection, the entire batch is unusable. Change the model so that if a batch fails to pass inspection, it is reworked, and at the end of the rework, its entire yield (the same yield determined in column C) is usable. However, the rework takes 3, 4, or 5 days with respective probabilities 0.2, 0.5, and 0.3. Run the simulation for the modified model and comment on how the results change.
write a linear program that will maximize profits. You don’t need to solve it. Hint: Define your variables as: Xij = tons of commodity i loaded into cargo hold j
You are a Business Analyst working for the ABC Ball Bearing company. An hour ago, you sent an order of 74 boxes of your A1 ball bearings to a customer on your delivery truck. You have just found out that your truck is going to go over a bridge that has a weight limit of 11,500 lbs. You need to determine if your truck will safely make it over the bridge. If you determine that the truck cannot make it over the bridge, you will need to call the driver and have him/her turn back. The plant manager has told you that an empty delivery truck with the driver weights about 8500 lbs. You have 30 boxes of the A1 ball bearings in your plant. You immediately had them weighed. The weights of the boxes are: 40.1 41.1 39.5 40.1 39.1 41.2 37.6 39.1 41.6 40.8 43.2 38.9 38.1 43.5 36.9 39.1 40.5 41.2 37.6 44.0 38.0 39.8 42.1 38.6 41.3 43.7 36.9 43.6 38.1 40.2 1. Discuss what sampling bias is. Do you believe that using the 30 boxes in your warehouse caused sampling…
Which of the following are true for a coupon bond? Select one: Ⓒa The yield to maturity is greater than the coupon rate when the bond price is above the par value. The price of a coupon bond and the yield to maturity are positively related. O b. Oc. The yield to maturity is less than the coupon rate when the bond price is below the par value. O d. When the coupon bond is priced at its face value, the yield to maturity equals the coupon rate. Clear my choice cross out cross out cross out cross out
CWD Electronics sells Televisions (TV), which it orders from the USA. Because of shipping and handling costs, each order must be for 10 TVs. Because of the time it takes to receive an order, the company places an order every time the present stock drops to 5 TVs. It costs $50 to place an order. It costs the company $200 in lost sales when a customer asks for a TV and the warchouse is out of stock. It costs $50 to keep each TV stored in the warehouse. If a customer cannot purchase a TV when it is requested, the customer will not wait until one comes in but will go to a competitor. The following probability distribution for demand for TV has been and the time required to recæive an order once it is placed (lead time) has the following probability distribution: Lead time (weeks) Probability Demand/ week Probability 0.45 0.15 2 0.30 025 0.25 3 0.40 020 The company has 10 TVs in stock. Orders are always received at the beginning of the week. Note that a lead time of 2 weeks imply that an…
CWD Electronics sells Televisions (TV), which it orders from the USA. Because of shipping and handling costs, each order must be for 5TVs. Because of the time it takes to receive an order, the company places an order every time the present stock drops to 5 TVs. It costs $50 to place anorder. It costs the company $500 in lost sales when a customer asks for a TV and the warehouse is out of stock. It costs $100 to keep each TV stored in the warehouse. If a customer cannot purchase a TV when it is requested, the customer will not wait until one comes in but will go to a competitor.The following probability distribution for demand for TV has been and the time required to receive an order once it is placed (lead time) has the following probability distribution: (Attached) The company has 3 TVs in stock. Orders are always received at the beginning of the week.Note that a lead time of 2 weeks imply that an order placed in week one will arrive in week 4. The time required to receive an order…
Assume the demand for a company's drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost $16x. Each unit of Wozac is sold for $3. Each unit of Wozac produced incurs a variable production cost of $0.20. It costs $0.40 per year to operate a unit of capacity. a. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years. Consider a capacity range from 40,000 to 80,000, at 5,000 unit increments. 80,000 b. Determine how large a Wozac plant the company should build to maximize its NPV over the next 10 years. Consider a capacity range from 40,000 to 80,000, at 5,000 unit increments, and assume a 10% discount rate. 40,000
I'm submitting this again as the previous answer was wrong. The constraint should be D + S and S + D. They were switched on the last answer I received
A sporting goods store sells footballs, basketballs, and volleyballs. A football costs $7, a baskeball costs $15, and a volleyball costs $3. On a given day, 8 times the number of footballs sold was the same as the number of volleyballs sold. They brought in a total of $3750 that day, and the money made from basketballs alone was $66 more than the money made from volleyballs alone. Let x, y, z be the number of footballs, basketballs, and volleyballs sold respectively. Create the matrix A that solves 3750 Ax b, where x= and b 66 A =
A firm uses a single input to produce a commodity according to its short-run production function, where x is the number of units of input. The commodity sells for $100 per unit. The input cost is $50 per unit. Write down a function that states the firm's profit, as a function of the amount of input?
A firm requires 96 units of good Q. The firm can only hire one worker to produce these 96 units. The firm pays its worker a fixed wage. The worker’s production function is Q(e) = 24e The worker’s effort cost function is C(e) = 4e² The worker gets 0 if unemployed. Treat the good as continuous. Assume the firms pay the lowest fixed wage it can. What wage does it pay?