Concept explainers
a)
To determine: A planting idea that will minimize the cost required to meet these requirements.
Linear programming:
It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.
b)
To use: A solver table to know the impact on total cost when the requirements for wheat and corn change by the same percentage.
Linear programming:
It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.
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Chapter 4 Solutions
Practical Management Science
- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?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_forwardScenario You are going to plant a rectangular flower bed consisting of tulips in the middle surrounded by daisies on the outside. You have the same amount of each flower and will need an equal area for each. You want the border of daisies to be uniform around the tulips in the middle, as shown in the diagram below:arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,