The Pentium Company makes three types of pens: ballpoints, mechanical pencils and fountain pens. These are...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The Pentium Company makes three types of pens: ballpoints, mechanical pencils and fountain pens. These are made from plastic, chrome and steel and the table gives the ounces of each of these ingredients that are used to make one pen. The company also uses labour, packaging and quality control techniques in the production process and the profitability of these pens, shown in the table are derived from the accounting process after all inputs are taken into account. For example, plastic cost $5.00 per ounce and this is taken into account to get the profit. Profit per unit Plastic Chrome Stainless Steel Ballpoints Mechanical Fountain Pencils $3 1.2 0.8 2 $3 1.7 0 3 Pens $5 1.2 2.3 4.5 Available (ozs) 1,000 1,200 2,000 i. Write the decision variables that will be used in the model and state the decision that the manager must make. ii. Write the objective function and state clearly what Pentium's objective is. iii. Write down all the constraints that should be used to solve the problem presented. iv. Explain what the solution would mean in terms of the decision variables and the objective function. The Pentium Company makes three types of pens: ballpoints, mechanical pencils and fountain pens. These are made from plastic, chrome and steel and the table gives the ounces of each of these ingredients that are used to make one pen. The company also uses labour, packaging and quality control techniques in the production process and the profitability of these pens, shown in the table are derived from the accounting process after all inputs are taken into account. For example, plastic cost $5.00 per ounce and this is taken into account to get the profit. Profit per unit Plastic Chrome Stainless Steel Ballpoints Mechanical Fountain Pencils $3 1.2 0.8 2 $3 1.7 0 3 Pens $5 1.2 2.3 4.5 Available (ozs) 1,000 1,200 2,000 i. Write the decision variables that will be used in the model and state the decision that the manager must make. ii. Write the objective function and state clearly what Pentium's objective is. iii. Write down all the constraints that should be used to solve the problem presented. iv. Explain what the solution would mean in terms of the decision variables and the objective function.
Expert Answer:
Answer rating: 100% (QA)
i Decision Variables and Decision Let x1 Number of ballpoint pens to produce x2 Number of mechanical ... View the full answer
Related Book For
Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
Posted Date:
Students also viewed these general management questions
-
Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...
-
a. What should the weekly product mix consist of, and what is the weekly net profit? b. Is the optimal solution to question 1 degenerate? Explain your response. c. Is the optimal solution from...
-
Computers and word processors not withstanding, the art of writing by hand recently entered a boom era. People are buying fountain pens again, and mechanical pencils are becoming more popular than...
-
In Problems 544, solve each logarithmic equation. Express irrational solutions in exact form. 2 log 6 (x + 2) = 3 log 6 2 + log 6 4
-
What is the difference between a holder and a holder in due course?
-
What do you think the advantages of companies having to follow set rules in this case may be?
-
Margaret uses an ATM three times a week. It is not her banks machine, but it is convenient to the store where she works. For every transaction, Margaret pays a fee of \($1.50\).
-
Milner Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $3,200 and two jobs in process: Job No. 429 $2,000, and Job No. 430...
-
Assume that you have the following bond portfolio. What is the duration of this portfolio? Round your answer to two decimal places. For example: 6.4739 would be 6.47 Security Duration Direction...
-
Categorize each of the following characteristics as being more representative of either traditional manufacturing or lean production. 1. Quality tends to be inspected-in rather than built-in. 2....
-
Q#12 Briefly explain the relationship between growth in sales and its effect on financing need of the firm. Be sure to include concept of Internal Growth and Sustainable Growth in your discussion....
-
As a quality manager , you will be continuously reviewing your facility against best practices and benchmarks in the industry. What are some key indicators used in health care to determine quality?...
-
3. Consider the following class definition and write an appropriate Java program according to the definition and output the result. public class Children [String name; int friends; public...
-
A monopolist has total costs TC(Q) = 32 + 10Q and faces market demand Q(P) = 40-2P. Solve for monopolist's output, price, profits and consumer surplus when: (a)(5 pts) Price is unregulated. (b)(5...
-
The contribution margin ratio of Kuck Corporation's only product is 62%. The company's monthly fixed expense is $455,000 and the company's monthly target profit is $41,000. Required: Determine the...
-
For problems 5 and 6, find the sum of the series described. 5. a, 2, r=5, ^=10 6. 2+ 6+ (-18) + n=12
-
Analyze the economic and political factors that can impact Starbucks transportation network and relates to future improvements. Also, analyze how their pricing promotions are used to change demand...
-
For the following exercises, find the area of the triangle. Round to the nearest hundredth. 22 50 36
-
A manufacturing company uses a certain type of steel rod in one of its products. The design specifications for this rod indicate that it must be between 0.353 to 0.357 inches in diameter. The machine...
-
The manager of catering services for the Roanoker Hotel has a problem. The banquet hall at the hotel is booked each evening during the coming week for groups who have reserved the following numbers...
-
The Weedwacker Company manufactures two types of lawn trimmers: an electric model and a gas model. The company has contracted to supply a national discount retail chain with a total of 30,000...
-
Question: Clyde goes into a Tesla dealership to investigate buying an electric sports car. He does not look as if he can afford a six-figure purchase, so the sales staff order a credit report on him....
-
Question: Kathleen Carroll, a single woman, applied for an Exxon credit card. Exxon rejected her application without giving any specific reason and without providing the name of the credit bureau it...
-
Question: In August, Ethel Jenkins went to First American Mortgage and Loan Association of Virginia (the Bank) to sign a second mortgage on her home. Her first mortgage was with a different bank. She...
Study smarter with the SolutionInn App