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Quantitative Methods For Business 12th Edition David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam - Solutions

For the following highway network system, determine the maximal flow in vehicles per hour:The highway commission is considering adding highway section 3€“4 to permit a flow of 2000 vehicles per hour or, at an additional cost, a flow of 3000 vehicles per hour. What is your recommendation
Refer to the Contois Carpets problem, for which the network representation is shown in Figure. Suppose that Contois has a beginning inventory of 50 yards of carpet and requires an inventory of 100 yards at the end of quarter 4.a. Develop a network representation of this modified problem.b. Develop
Sanders Fishing Supply of Naples, Florida, manufactures a variety of fishing equipment that it sells throughout the United States. For the next three months, Sanders estimates demand for a particular product at 150, 250, and 300 units, respectively. Sanders can supply this demand by producing on
Solutions Plus is an industrial chemicals company that produces specialized cleaning fluids and solvents for a wide variety of applications. Solutions Plus just received an invitation to submit a bid to supply Great North American railroad with a cleaning fluid for locomotives. Great North American
The Darby Company manufactures and distributes meters used to measure electric power consumption. The company started with a small production plant in El Paso and gradually built a customer base throughout Texas. A distribution center was established in Fort Worth, Texas, and later, as business
In the market share analysis of Section 17.1, suppose that we are considering the Markov process associated with the shopping trips of one customer, but we do not know where the customer shopped during the last week. Thus, we might assume a 0.5 probability that the customer shopped at
Management of the New Fangled Softdrink Company believes that the probability of a customer purchasing Red Pop or the companyâ€™s major competition, Super Cola, is based on the customerâ€™s most recent purchase. Suppose that the following transition probabilities are appropriate:a. Show
One cause of the downtime in Problem 3 was traced to a specific piece of computer hardware. Management believes that switching to a different hardware component will result in the following transition probabilities:a. What are the steady-state probabilities of the system being in the running and
A major traffic problem in the Greater Cincinnati area involves traffic attempting to cross the Ohio River from Cincinnati to Kentucky using Interstate 75. Let us assume that the probability of no traffic delay in one period, given no traffic delay in the preceding period, is 0.85 and that the
Data collected from selected major metropolitan areas in the eastern United States show that 2% of individuals living within the city limits move to the suburbs during a one-year period while 1% of individuals living in the suburbs move to the city during a one-year period. Answer the following
Assume that a third grocery store, Quick Stop Groceries, enters the market share and customer loyalty situation described in Section 17.1. Quick Stop Groceries is smaller than either Murphy€™s Foodliner or Ashley€™s Supermarket. However, Quick Stop€™s convenience with
The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities:a. Which brand appears to have the most loyal customers? Explain.b. What are the projected market shares for the twobrands?
Suppose that in Problem 8 a new toothpaste brand enters the market such that the following transition probabilities exist:What are the new long-run market shares? Which brand will suffer most from the introduction of the new brand oftoothpaste?
Given the following transition matrix with states 1 and 2 as absorbing states, what is the probability that unit in states 3 and 4 end up in each of the absorbingstates?
In the Heidman€™s Department Store problem of Section 17.2, suppose that the following transition matrix is appropriate:If Heidman€™s has $4000 in the 0€“30-day category and $5000 in the 31€“90-day category, what is your estimate of the amount of bad debts
The KLM Christmas Tree Farm owns a plot of land with 5000 evergreen trees. Each year KLM allows retailers of Christmas trees to select and cut trees for sale to individual customers. KLM protects small trees (usually less than 4 feet tall) so that they will be available for sale in future years.
A large corporation collected data on the reasons both middle managers and senior managers leave the company. Some managers eventually retire, but others leave the company prior to retirement for personal reasons including more attractive positions with other firms. Assume that the following matrix
Data for the progression of college students at a particular college are summarized in the following matrix of transition probabilities.a. What states are absorbing states?b. Interpret the transition probabilities for a sophomore.c. Use the Management Scientist software package to compute the
The game of blackjack (sometimes called “21”) is a popular casino game. The goal is to have a hand with a value of 21 or as close to 21 as possible without exceeding 21. The player and the dealer are each dealt two cards initially. Both the player and dealer may draw additional cards (called
The Mohawk Discount Store is designing a management training program for individuals at its corporate headquarters. The company wants to design the program so that trainees can complete it as quickly as possible. Important precedence relationships must be maintained between assignments or
Bridge City Developers is coordinating the construction of an office complex. As part of the planning process, the company generated the following activity list. Draw a project network that can be used to assist in the scheduling of the projectactivities.
Construct a project network for the following project. The project is completed when activities F and G are bothcomplete.
Assume that the project in Problem 3 has the following activity times (in months):a. Find the critical path.b. The project must be completed in 11/2 years. Do you anticipate difficulty in meeting the deadline?Explain.
Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS obtained a contract to develop a computer system to assist the management of a large company in formulating its capital expenditure plan. The project leader developed the
Consider the following project network and activity times (in weeks):a. Identify the critical path.b. How much time will be needed to complete this project?c. Can activity D be delayed without delaying the entire project? If so, by how many weeks?d. Can activity C be delayed without delaying the
Embassy Club Condominium, located on the west coast of Florida, is undertaking a summer renovation of its main building. The project is scheduled to begin May 1, and a September 1 (17-week) completion date is desired. The condominium manager identified the following renovation activities and their
Colonial State College is considering building a new multipurpose athletic complex on campus. The complex would provide a new gymnasium for intercollegiate basketball games, expanded office space, classrooms, and intramural facilities. The following activities would have to be undertaken before
Hamilton County Parks is planning to develop a new park and recreational area on a recently purchased 100-acre tract. Project development activities include clearing playground and picnic areas, constructing roads, constructing a shelter house, purchasing picnic equipment, and so on. The following
The following estimates of activity times (in days) are available for a small project:a. Compute the expected activity completion times and the variance for each activity.b. An analyst determined that the critical path consists of activities B-D-F. Compute the expected project completion time and
Building a backyard swimming pool consists of nine major activities. The activities and their immediate predecessors are shown. Develop the projectnetwork.
Assume that the activity time estimates (in days) for the swimming pool construction project in Problem 11 are as follows:a. What are the critical activities?b. What is the expected time to complete the project?c. What is the probability that the project can be completed in 25 or fewerdays?
Suppose that the following estimates of activity times (in weeks) were provided for the network shown in Problem 6:What is the probability that the project will be completed?a. Within 21 weeks?b. Within 22 weeks?c. Within 25weeks?
Davison Construction Company is building a luxury lakefront home in the Finger Lakes region of New York. Coordination of the architect and subcontractors will require a major effort to meet the 44-week (approximately 10-month) completion date requested by the owner. The Davison project manager
Doug Casey is in charge of planning and coordinating next springâ€™s sales management training program for his company. Doug listed the following activity information for this project:a. Draw a project network.b. Prepare an activity schedule.c. What are the critical activities and what is the
The Daugherty Porta-Vac project discussed in Section 13.2 has an expected project completion time of 17 weeks. The probability that the project could be completed in 20 weeks or less is 0.9656. The noncritical paths in the Porta-Vac project network areA-D-G-JA-C-F-JB-H-I-Ja. Use the information in
The Porsche Shop, founded in 1985 by Dale Jensen, specializes in the restoration of vintage Porsche automobiles. One of Jensenâ€™s regular customers asked him to prepare an estimate for the restoration of a 1964 model 356SC Porsche. To estimate the time and cost to perform such a restoration,
The manager of the Oak Hills Swimming Club is planning the clubâ€™s swimming team program. The first team practice is scheduled for May 1. The activities, their immediate predecessors, and the activity time estimates (in weeks) are as follows:a. Draw a project network.b. Develop an activity
The product development group at Landon Corporation has been working on a new computer software product that has the potential to capture a large market share. Through outside sources, Landonâ€™s management learned that a competitor is working to introduce a similar product. As a result,
Norton Industries is installing a new computer system. The activities, the activity times, and the project network are as follows:The critical path calculation shows B-D-E-F-H is the critical path, and the expected project completion time is 21 weeks. After viewing this information, management
Consider the following project network and activity times (in days):The crashing data for this project are as follows:a. Find the critical path and the expected project completion time.b. What is the total project cost using the normaltimes?
Refer to Problem 21. Assume that management desires a 12-day project completion time.a. Formulate a linear programming model that can be used to assist with the crashing decisions.b. What activities should be crashed?c. What is the total project cost for the 12-day completion time?
Consider the following project network. Note that the normal or expected activity times are denoted Ï„i, I = A, B, . . . , I. Let xi = the earliest finish time for activity i. Formulate a linear programming model that can be used to determine the length of the criticalpath.
Office Automation, Inc., developed a proposal for introducing a new computerized office system that will improve word processing and interoffice communications for a particular company. Contained in the proposal is a list of activities that must be accomplished to complete the new office system
Because Landon Corporation is being pressured to complete the product development project at the earliest possible date, the project leader requested that the possibility of crashing the project be evaluated.a. Formulate a linear programming model that could be used in making the crashing
R. C. Coleman distributes a variety of food products that are sold through grocery store and supermarket outlets. The company receives orders directly from the individual outlets, with a typical order requesting the delivery of several cases of anywhere from 20 to 50 different products. Under the
Suppose that the R&B Beverage Company has a soft drink product that shows a constant annual demand rate of 3600 cases. A case of the soft drink costs R&B $3. Ordering costs are $20 per order and holding costs are 25% of the value of the inventory. R&B has 250 working days per year, and the lead
A general property of the EOQ inventory model is that total inventory holding and total ordering costs are equal at the optimal solution. Use the data in Problem 1 to show that this result is true. Use equations (1), (2), and (3) to show that, in general, total holding costs and total ordering
The reorder point is defined as the lead-time demand for an item. In cases of long lead times, the lead-time demand and thus the reorder point may exceed the economic order quantity Q*. In such cases, the inventory position will not equal the inventory on hand when an order is placed, and the
Westside Auto purchases a component used in the manufacture of automobile generators directly from the supplier. Westside’s generator production operation, which is operated at a constant rate, will require 1000 components per month throughout the year (12,000 units annually). Assume that the
The Metropolitan Bus Company (MBC) purchases diesel fuel from American Petroleum Supply. In addition to the fuel cost, American Petroleum Supply charges MBC $250 per order to cover the expenses of delivering and transferring the fuel to MBC’s storage tanks. The lead time for a new shipment from
Tele-Reco is a new specialty store that sells television sets, videotape recorders, video games, and other television-related products. A new Japanese-manufactured videotape recorder costs Tele-Reco $600 per unit. Tele-Reco’s annual holding cost rate is 22%. Ordering costs are estimated to be $70
A large distributor of oil-well drilling equipment operated over the past two years with EOQ policies based on an annual holding cost rate of 22%. Under the EOQ policy, a particular product has been ordered with a Q* = 80. A recent evaluation of holding costs shows that because of an increase in
Nation-Wide Bus Lines is proud of its six-week bus driver–training program that it conducts for all new Nation-Wide drivers. As long as the class size remains less than or equal to 35, a six-week training program costs Nation-Wide $22,000 for instructors, equipment, and so on. The Nation-Wide
Cress Electronic Products manufactures components used in the automotive industry. Cress purchases parts for use in its manufacturing operation from a variety of different suppliers. One particular supplier provides a part where the assumptions of the EOQ model are realistic. The annual demand is
All-Star Bat Manufacturing, Inc., supplies baseball bats to major and minor league baseball teams. After an initial order in January, demand over the six-month baseball season is approximately constant at 1000 bats per month. Assuming that the bat production process can handle up to 4000 bats per
Assume that a production line operates such that the production lot size model of Section 14.2 is applicable. Given D = 6400 units per year, Co = $100 and Ch = $2 per unit per year, compute the minimum cost production lot size for each of the following production rates:a. 8000 units per yearb.
EL Computer produces its multimedia notebook computer on a production line that has an annual capacity of 16,000 units. EL Computer estimates the annual demand for this model at 6000 units. The cost to set up the production line is $2345, and the annual holding cost is $20 per unit. Current
Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7200 copies. The cost of one copy of the book is $14.50. The holding cost is based on an 18% annual rate, and production setup costs are $150 per setup. The
A well-known manufacturer of several brands of toothpaste uses the production lot size model to determine production quantities for its various products. The product known as Extra White is currently being produced in production lot sizes of 5000 units. The length of the production run for this
Suppose that Westside Auto of Problem 4, with D = 12,000 units per year, Ch = (2.50)(0.20) = $0.50, and Co = $25, decided to operate with a backorder inventory policy. Backorder costs are estimated to be $5 per unit per year. Identify the following:a. Minimum cost order quantityb. Maximum number of
Assuming 250 days of operation per year and a lead time of five days, what is the reorder point for Westside Auto in Problem 15? Show the general formula for the reorder point for the EOQ model with backorders. In general, is the reorder point when backorders are allowed greater than or less than
A manager of an inventory system believes that inventory models are important decision-making aids. Even though often using an EOQ policy, the manager never considered a backorder model because of the assumption that backorders were “bad” and should be avoided. However, with upper
If the lead time for new orders is 20 days for the inventory system discussed in Problem 17, find the reorder point for both the EOQ and the backorder models.
The A&M Hobby Shop carries a line of radio-controlled model racing cars. Demand for the cars is assumed to be constant at a rate of 40 cars per month. The cars cost $60 each, and ordering costs are approximately $15 per order, regardless of the order size. The annual holding cost rate is 20%.a.
Assume that the following quantity discount schedule is appropriate. If annual demand is 120 units, ordering costs are $20 per order, and the annual holding cost rate is 25%, what order quantity would yourecommend?
Apply the EOQ model to the following quantity discount situation in which D = 500 units per year, Co = $40, and the annual holding cost rate is 20%. What order quantity do yourecommend?
Keith Shoe Stores carries a basic black dress shoe for men that sells at an approximate constant rate of 500 pairs of shoes every three months. Keith’s current buying policy is to order 500 pairs each time an order is placed. It costs Keith $30 to place an order. The annual holding cost rate is
In the EOQ model with quantity discounts, we stated that if the Q* for a price category is larger than necessary to qualify for the category price, the category cannot be optimal. Use the two discount categories in Problem 21 to show that this statement is true. That is, plot total cost curves for
The J&B Card Shop sells calendars depicting a different Colonial scene each month. The once-a-year order for each year’s calendar arrives in September. From past experience, the September-to-July demand for the calendars can be approximated by a normal probability distribution with µ = 500 and
The Gilbert Air-Conditioning Company is considering the purchase of a special shipment of portable air conditioners manufactured in Japan. Each unit will cost Gilbert $80, and it will be sold for $125. Gilbert does not want to carry surplus air conditioners over until the following year. Thus, all
The Bridgeport city manager and the chief of police agreed on the size of the police force necessary for normal daily operations. However, they need assistance in determining the number of additional police officers needed to cover daily absences due to injuries, sickness, vacations, and personal
A perishable dairy product is ordered daily at a particular supermarket. The product, which costs $1.19 per unit, sells for $1.65 per unit. If units are unsold at the end of the day, the supplier takes them back at a rebate of $1 per unit. Assume that daily demand is approximately normally
A retail outlet sells a seasonal product for $10 per unit. The cost of the product is $8 per unit. All units not sold during the regular season are sold for half the retail price in an end-of-season clearance sale. Assume that demand for the product is uniformly distributed between 200 and 800.a.
Floyd Distributors, Inc., provides a variety of auto parts to small local garages. Floyd purchases parts from manufacturers according to the EOQ model and then ships the parts from a regional warehouse direct to its customers. For a particular type of muffler, Floyd’s EOQ analysis recommends
For Floyd Distributors in Problem 29, we were given Q*= 25, D = 200, Ch = $5, and a normal lead-time demand distribution with µ = 12 and σ = 2.5.a. What is Floyd’s reorder point if the firm is willing to tolerate two stock-outs during the year?b. What is Floyd’s reorder point if the firm
A product with an annual demand of 1000 units has Co = $25.50 and Ch = $8. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with µ = 25 and σ = 5.a. What is the recommended order quantity?b. What are the reorder point and safety stock
The B&S Novelty and Craft Shop in Bennington, Vermont, sells a variety of quality handmade items to tourists. B&S will sell 300 hand-carved miniature replicas of a Colonial soldier each year, but the demand pattern during the year is uncertain. The replicas sell for $20 each, and B&S
A firm uses a one-week periodic review inventory system. A two-day lead time is needed for any order, and the firm is willing to tolerate an average of one stock-out per year.a. Using the firm’s service guideline, what is the probability of a stock-out associated with each replenishment
Foster Drugs, Inc., handles a variety of health and beauty aid products. A particular hair conditioner product costs Foster Drugs $2.95 per unit. The annual holding cost rate is 20%. An order-quantity, reorder point inventory model recommends an order quantity of 300 units per order.a. Lead time is
Statewide Auto Parts uses a four-week periodic review system to reorder parts for its inventory stock. A one-week lead time is required to fill the order. Demand for one particular part during the five-week replenishment period is normally distributed with a mean of 18 units and a standard
Rose Office Supplies, Inc., which is open six days a week, uses a two-week periodic review for its store inventory. On alternating Monday mornings, the store manager fills out an order sheet requiring a shipment of various items from the company’s warehouse. A particular three-ring notebook sells
Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that it currently purchases from a supplier. Forecasted annual demand for the part is 3200 units. Wagner operates 250 days per year.Wagner’s financial analysts established a cost of capital of
The River City Fire Department (RCFD) fights fires and provides a variety of rescue operations in the River City metropolitan area. The RCFD staffs 13 ladder companies, 26 pumper companies, and several rescue units and ambulances. Normal staffing requires 186 firefighters to be on duty every
Willow Brook National Bank operates a drive-up teller window that allows customers to complete bank transactions without getting out of their cars. On weekday mornings, arrivals to the drive-up teller window occur at random, with an arrival rate of 24 customers per hour or 0.4 customers per
In the Willow Brook National Bank waiting line system, assume that the service times for the drive-up teller follow an exponential probability distribution with a service rate of 36 customers per hour, or 0.6 customers per minute. Use the exponential probability distribution to answer the following
Use the single-channel drive-up bank teller operation referred to in Problems 1 and 2 to determine the following operating characteristics for the system:a. The probability that no customers are in the systemb. The average number of customers waitingc. The average number of customers in the
Use the single-channel drive-up bank teller operation referred to in Problems 1–3 to determine the probabilities of 0, 1, 2, and 3 customers in the system. What is the probability that more than three customers will be in the drive-up teller system at the same time?
The reference desk of a university library receives requests for assistance. Assume that a Poisson probability distribution with an arrival rate of 10 requests per hour can be used to describe the arrival pattern and that service times follow an exponential probability distribution with a service
Movies Tonight is a typical video and DVD movie rental outlet for home-viewing customers. During the weeknight evenings, customers arrive at Movies Tonight with an arrival rate of 1.25 customers per minute. The checkout clerk has a service rate of 2 customers per minute. Assume Poisson arrivals and
Speedy Oil provides a single-channel automobile oil change and lubrication service. Customers provide an arrival rate of 2.5 cars per hour. The service rate is 5 cars per hour. Assume that arrivals follow a Poisson probability distribution and that service times follow an exponential probability
For the Burger Dome single-channel waiting line in Section 15.2, assume that the arrival rate is increased to 1 customer per minute and that the service rate is increased to 1.25 customers per minute. Compute the following operating characteristics for the new system: P0, Lq, L, Wq, W, and Pw. Does
Marty’s Barber Shop has one barber. Customers have an arrival rate of 2.2 customers per hour, and haircuts are given with a service rate of 5 per hour. Use the Poisson arrivals and exponential service times model to answer the following questions:a. What is the probability that no units are in
Trosper Tire Company decided to hire a new mechanic to handle all tire changes for customers ordering a new set of tires. Two mechanics applied for the job. One mechanic has limited experience, can be hired for $14 per hour, and can service an average of three customers per hour. The other mechanic
Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.5 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each
Pete’s Market is a small local grocery store with only one checkout counter. Assume that shoppers arrive at the checkout lane according to a Poisson probability distribution, with an arrival rate of 15 customers per hour. The checkout service times follow an exponential probability distribution,
After reviewing the waiting line analysis of Problem 12, the manager of Pete’s Market wants to consider one of the following alternatives for improving service. What alternative would you recommend? Justify your recommendation.a. Hire a second person to bag the groceries while the cash register
Ocala Software Systems operates a technical support center for its software customers. If customers have installation or use problems with Ocala software products, they may telephone the technical support center and obtain free consultation. Currently, Ocala operates its support center with one
To improve customer service, Ocala Software Systems wants to investigate the effect of using a second consultant at its technical support center. What effect would the additional consultant have on customer service? Would two technical consultants enable Ocala to meet its service guidelines, with
The new Fore and Aft Marina is to be located on the Ohio River near Madison, Indiana. Assume that Fore and Aft decides to build a docking facility where one boat at a time can stop for gas and servicing. Assume that arrivals follow a Poisson probability distribution, with an arrival rate of 5 boats
The manager of the Fore and Aft Marina in Problem 16 wants to investigate the possibility of enlarging the docking facility so that two boats can stop for gas and servicing simultaneously. Assume that the arrival rate is 5 boats per hour and that the service rate for each channel is 10 boats per

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