The season yield of olives in a Piraeus, Greece, vineyard is greatly influenced by a process...
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The season yield of olives in a Piraeus, Greece, vineyard is greatly influenced by a process of branch pruning. If olive trees are pruned every two weeks, output is increased. The pruning process, however, requires considerably more labor than permitting the olives to grow on their own and results in a smaller size olive. It also permits olive trees to be spaced closer together. The yield of 1 barrel of olives by pruning requires 5 hours of labor and 1 acre of land. The production of a barrel of olives by the normal process requires only 2 labor hours but takes 2 acres of land. An olive grower has 250 hours of labor available and a total of 150 acres for growing. Because of the olive size difference, a barrel of olives produced on pruned trees sells for $20, whereas a barrel of regular olives has a market price of $30. The grower has determined that because of uncertain demand, no more than 40 barrels of pruned olives should be produced. The grower wants to decide the best combination of barrels of pruned and regular olives to earn the maximum possible profit. Define the decision variables necessary for the LP formulation as follows: based on the one linear program solution/sensitivity report from. You must explain all the steps on how you answered the question based on the one output for the linear program. If you feel that it is not possible to answer the question with the single output, explain why this is the case. How many barrels of pruned olives and regular olives will the grower produce? How much profit will the grower receive from the optimal production strategy? What happens to the optimal solution if the unit profit of a barrel of pruned olives doubles? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. iii) iv) S vi) vii) What happens to the optimal solution if the unit profit of a barrel of regular olives decreases by 50%? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. What happens to the optimal profit if the grower obtains another 50 labor hours? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. I What happens to the optimal profit if the grower loses 70 acres of land? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. What happens to the optimal profit if the grower decides to grow no more than 30 barrels of pruned olives? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. The season yield of olives in a Piraeus, Greece, vineyard is greatly influenced by a process of branch pruning. If olive trees are pruned every two weeks, output is increased. The pruning process, however, requires considerably more labor than permitting the olives to grow on their own and results in a smaller size olive. It also permits olive trees to be spaced closer together. The yield of 1 barrel of olives by pruning requires 5 hours of labor and 1 acre of land. The production of a barrel of olives by the normal process requires only 2 labor hours but takes 2 acres of land. An olive grower has 250 hours of labor available and a total of 150 acres for growing. Because of the olive size difference, a barrel of olives produced on pruned trees sells for $20, whereas a barrel of regular olives has a market price of $30. The grower has determined that because of uncertain demand, no more than 40 barrels of pruned olives should be produced. The grower wants to decide the best combination of barrels of pruned and regular olives to earn the maximum possible profit. Define the decision variables necessary for the LP formulation as follows: based on the one linear program solution/sensitivity report from. You must explain all the steps on how you answered the question based on the one output for the linear program. If you feel that it is not possible to answer the question with the single output, explain why this is the case. How many barrels of pruned olives and regular olives will the grower produce? How much profit will the grower receive from the optimal production strategy? What happens to the optimal solution if the unit profit of a barrel of pruned olives doubles? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. iii) iv) S vi) vii) What happens to the optimal solution if the unit profit of a barrel of regular olives decreases by 50%? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. What happens to the optimal profit if the grower obtains another 50 labor hours? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. I What happens to the optimal profit if the grower loses 70 acres of land? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication. What happens to the optimal profit if the grower decides to grow no more than 30 barrels of pruned olives? Must explain how you arrived to your answer based on the given output. Do not reformulate the LP to find out the implication.
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ANSWER i The grower will produce 225 barrels of pruned olives and 30 barrels of regular olives ii The grower will receive a profit of ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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