ISE Introduction To Management Science And Business Analytics A Modeling And Case Studies Approach With Spreadsheets 7th INTERNATIONAL Edition Hillier, Frederick S, Lieberman, Gerald J - Solutions

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Reconsider the Everglade case study described in Chapter 7 and then solved in Figure 7.5 (as provided in the Excel files for that chapter). That analysis assumed that the projected net cash flows over the next 10 years (2024–2033) shown in Table 7.1 are known with certainty.However, Everglade
Now that Jennifer is in middle school, her parents have decided that they really must increase their saving for her college education. Realizing how expensive college has become, they hope to accumulate a college fund of nearly$100,000 by the time she starts college in five years through investing
Flight 120 between Seattle and San Francisco is a popular flight among both leisure and business travelers.The airplane holds 112 passengers in a single cabin. Both a discount 7-day advance fare and a full-price fare are offered. The airline’s management is trying to decide (1)how many seats to
Consider the airline overbooking problem discussed in Section 15.5.The spreadsheet model is available at www.mhhe.com/Hillier7e. The parameter analysis report generated in Section 15.7 (see Figure 15.44)for this problem suggests that 185 is the best number of reservations to accept in order to
Read the referenced article that fully describes the management science study done for Kroger Co. that is summarized in the application vignette presented in Section 15.8.Briefly describe how computer simulation was applied in this study. Then list the various financial and nonfinancial benefits
Road Pavers, Inc. (RPI) is considering bidding on a county road construction project. After careful analysis, RPI believes that the cost of this particular job would be $5 million. The cost of putting together a bid is estimated to be$50,000. The county also will receive four other bids on the
Consider the Reliable Construction Co. bidding problem discussed in Section 15.2.The spreadsheet model is available at www.mhhe.com/Hillier7e. The parameter analysis report generated in Section 15.7 (see Figure 15.43)for this problem suggests that $5.4 million is the best bid, but this table only
Susan is a ticket scalper. She buys middle-category tickets for Golden State Warriors games before the beginning of the season for $100 each. Since the games all sell out, Susan is able to sell the tickets for $150 on game day. Tickets that Susan is unable to sell on game day have no value. Based
Michael Wise operates a newsstand at a busy intersection downtown every day except Sundays. Demand for the Daily Times averages 300 copies with a standard deviation of 50 copies (assume a normal distribution).Michael purchases the papers for $0.75 and sells them for$1.25. Any papers left over at
Consider the case study involving Freddie the newsboy that was introduced in Section 15.1.The spreadsheet model is available at www.mhhe.com/Hillier7e. The parameter analysis report generated in Section 15.7 (see Figure 15.37) for Freddie’s problem suggests that 55 is the best order quantity, but
Refer to the financial risk analysis example presented in Section 15.4, including its results shown in Figure 15.21.Think-Big management is quite concerned about the risk profile for the proposal. Two statistics are causing particular concern. One is that there is nearly a 20 percent chance of
For one new product produced by the Aplus Company, bushings need to be drilled into a metal block and cylindrical shafts need to be inserted into the bushings.The shafts are required to have a radius of at least 1.0000 inch, but the radius should be as little larger than this as possible. With the
The Avery Co. factory has been having a maintenance problem with the control panel for one of its production processes. This control panel contains four identical electromechanical relays that have been the cause of the trouble. The problem is that the relays fail fairly frequently, thereby forcing
Reconsider the Heavy Duty Co. problem that was presented as Example 2 in Section 14.1.For each of the following three options in parts a throughc, obtain an estimate of the expected cost per day by using Analytic Solver to perform 1,000 trials of a computer simulation of the problem on a
The employees of General Manufacturing Corp.receive health insurance through a group plan issued by Wellnet. During the past year, 40 percent of the employees did not file any health insurance claims, 40 percent filed only a small claim, and 20 percent filed a large claim. The small claims were
Consider Problem 18.12 (see Chapter 18 at www.mhhe.com/Hillier7e), which involves estimating both the duration of a project and the probability that it will be completed by the deadline. Assume now that the duration of each activity has a triangular distribution that is based on the three estimates
Ivy University is planning to construct a new building for its business school. This project will require completing all of the activities in the next table. For most of these activities, a set of predecessor activities must be completed before the activity begins. For example, the foundation
The Aberdeen Development Corporation (ADC) is considering an Aberdeen Resort Hotel project. It would be located on the picturesque banks of Grays Harbor and have its own championship-level golf course.The cost to purchase the land would be $1 million, payable now. Construction costs would be
Consider the historical data contained in the Excel File “Sales Data 2” available at www.mhhe.com/Hillier7e.Use Analytic Solver to fit continuous distributions to these data.a. Which distribution provides the closest fit to the data? What are the parameters of the distribution?b. Which
Consider the historical data contained in the Excel File “Sales Data 1” available at www.mhhe.com/Hillier7e.Use Analytic Solver to fit continuous distributions to these data.a. Which distribution provides the closest fit to the data? What are the parameters of the distribution?b. Which
Consider the Reliable Construction Co. project scheduling example presented in Section
The results from a simulation run are inherently random. This problem will demonstrate this fact and investigate the impact of the number of trials per simulation on this randomness. Consider the case study involving Freddie the newsboy that was introduced in Section 15.1.The spreadsheet model is
Did the simulation results obtained in this section determine how many reservations should be accepted for the flight under consideration?
What are the parameters of a binomial distribution?
What quantities appear in the uncertain variable cells of the spreadsheet model?
What is the decision variable for this problem?
What trade-off must be considered in addressing this problem?
What problem is being addressed by the analytics group at Transcontinental Airlines in this section’s example?
In the pioneering application of management science to revenue management at American Airlines, what increase in annual revenues was achieved?
What is meant by revenue management in the travel industry?
What kind of chart is used to highlight where a project plan needs to be revised to best improve the chances of meeting the project deadline?
What needs to be done to identify the exact percentage of trials of a computer simulation of this spreadsheet model that will result in meeting the project completion deadline?
What quantity appears in the results cell of the spreadsheet model for this example?
What can be done to quickly enter these parameters into all the uncertain variable cells after using the dialog box for the distribution of page 679 the duration of only the first activity?
What are the three estimates provided by the PERT three-estimate approach that give the parameters of this distribution of the duration of an activity?
Computer simulations commonly use which kind of probability distribution as the distribution of the duration of an activity?
A PERT procedure can obtain only a rough approximation of a certain key quantity, so computer simulation is used to obtain a much closer estimate of the quantity. What is this quantity?
What is the project that is being considered in this section’s example?
What has Freddie the newsboy learned so far about what his order quantity should be?
What is the significance of the standard error of the results from a computer simulation?
What are the key statistics provided by the statistics table when using Analytic Solver?
What kind of information is provided by a frequency chart when using Analytic Solver?
What is a statistic cell when using Analytic Solver?
What is entered into the results cell in Freddie’s spreadsheet model?
What is a results cell when using Analytic Solver?
What is an uncertain variable cell when using Analytic Solver?
What is the decision that Freddie the newsboy needs to make?
For the Dupit Corp. case study introduced in Section 13.4, the analytics team was able to apply a variety of queueing models by making the following simplifying approximation. Except for the approach suggested by the vice president for engineering, the team assumed that the total time required to
(The Erlang distribution is a special distribution where k as large as k = 8 means that it has much less variability than the exponential distribution.)
Consider the case study introduced in Section 14.2 After observing the operation of the barber shop, Herr Cutter’s nephew Fritz is concerned that his uncle’s estimate that the time required to give a haircut has a uniform distribution between 15 and 25 minutes appears to be a poor approximation
Vistaprint produces monitors and printers for computers. In the past, only some of them were inspected on a sampling basis. However, the new plan is that they all will be inspected before they are released. Under this plan, the monitors and printers will be brought to the inspection station one at
Hugh’s Repair Shop specializes in repairing German and Japanese cars. The shop has two mechanics.One mechanic works on only German cars and the other mechanic works on only Japanese cars. In either case, the time required to repair a car has an exponential distribution with a mean of 0.2 days.
A major banking institution, Best Bank, plans to open a new branch office in Littletown. Preliminary estimates suggest that two tellers (and teller windows)should be provided, but this decision now awaits further analysis.Marketing surveys indicate that the new Littletown bank will attract enough
Read the referenced article that fully describes the management science and business analytics study done for Sasol that is summarized in the application vignette presented in Section
While performing a computer simulation of a single-server queueing system, the number of customers in the system is zero for the first 10 minutes, one for the next 17 minutes, two for the next 24 minutes, one for the next 15 minutes, two for the next 16 minutes, and one for the next 18 minutes.
Refer to the first 100 minutes of the computer simulation of the current operation of Herr Cutter’s barber shop presented in Figure 14.7 and summarized i
The Rustbelt Manufacturing Company employs a maintenance crew to repair its machines as needed.Management now wants a computer simulation study done to analyze what the size of the crew should be, where the crew sizes under consideration are two, three, and four.The time required by the crew to
The William Graham Entertainment Company will be opening a new box office where customers can come to make ticket purchases in advance for the many entertainment events being held in the area. Computer simulation is being used to analyze whether to have one or two clerks on duty at the box office.
Reconsider Eddie’s Bicycle Shop described in the preceding problem. Forty percent of the bicycles require only a minor repair. The repair time for these bicycles has a uniform distribution between zero and one hour. Sixty percent of the bicycles require a major repair. The repair time for these
Eddie’s Bicycle Shop has a thriving business repairing bicycles. Trisha runs the reception area where customers check in their bicycles to be repaired and then later pick up their bicycles and pay their bills. She estimates that the time required to serve a customer on each visit has a uniform
Read the referenced article that fully describes the management science study done for the Federal Aviation Administration that is summarized in the application vignette presented in Section 14.2, Briefly describe how computer simulation was applied in this study. Then list the various financial
Read the referenced article that fully describes the management science and business analytics study done for Syngenta that is summarized in the application vignette presented in Section 14.1, Briefly describe how computer simulation was applied in this study. Then list the various financial and
Generate three random observations from the uniform distribution between −10 and 40 by using the following random numbers: 0.0965, 0.5692, and 0.6658.
Jessica Williams, manager of kitchen appliances for the Midtown Department Store, feels that her inventory levels of stoves have been running higher than necessary.Before revising the inventory policy for stoves, she records the number sold each day over a period of 25 days, as summarized below.
The weather can be considered a stochastic system, because it evolves in a probabilistic manner from one day to the next. Suppose for a certain location that this probabilistic evolution satisfies the following description:The probability of rain tomorrow is 0.6 if it is raining today. The
Each time an unbiased coin is flipped three times, the probability of getting 0, 1, 2, and 3 heads is ⅛,⅜,⅜, and ⅛, respectively. Therefore, with eight groups of three flips each, on the average, one group will yield no heads, three groups will yield one head, three groups will yield two
Reconsider the coin-flipping game introduced in Section 14.1 and analyzed with computer simulation in Figures 14.1, 14.2 and 14.3
Use the random numbers in cells C13:C18 of Figure 14.1 to generate six random observations for each of the following situations.a. Throwing an unbiased coin.b. A baseball pitcher who throws a strike 60 percent of the time and a ball 40 percent of the time?
What are the two ways in which a study team usually presents its recommendations to management?
What kinds of estimates are obtained from simulation runs?
A simulation run can be viewed as what kind of statistical experiment?
What is the specific question being addressed when testing the validity of a simulation model?
When using animation to display a computer simulation in action, how are the key elements of the system represented?
What is the difference between a general-purpose simulation language and an application-oriented simulator?
Who should the team engage to help check the accuracy of the simulation model?
When beginning a computer simulation study, with whom should a study team meet to address some key questions and then to learn the details of how the system would operate?
What are the time constraints for performing the study?
What measures of performance of the system are of interest to management?
What kinds of alternative system configurations and operating procedures should be considered?
What specific issues should be addressed?
What are the overall objectives for the study?
What is the problem that management wants studied?
Does Fritz’s analysis estimate that Herr Cutter’s income will eventually increase or decrease (compared to its current level) if he adds an associate?
Does Fritz’s simulation model make any simplifying assumptions? Is it necessary for a simulation model to be a completely realistic representation of the real system?
What were the two ways with which Fritz tested the validity of his simulation model?
What are the two types of estimates of a measure of performance obtained by the Queueing Simulator?
What did Fritz simulate in his first simulation run? For what purpose?
What is the basic difference in the procedure between simulating Herr Cutter’s barber shop without an associate and with an associate?
What is the state of the system for Herr Cutter’s barber shop?
What is the name of the main procedure used to advance the time on the simulation clock?
What is a simulation clock?
Which probability distributions need to be estimated in order to apply computer simulation to this case study?
What are the two rules of thumb that will help guide this decision?
What is the decision facing Herr Cutter?
Why does computer simulation tend to be a relatively expensive procedure?
How does computer simulation imitate the operation of a stochastic system?
The Garrett-Tompkins Company provides three copy machines in its copying room for the use of its employees. However, due to recent complaints about considerable time being wasted waiting for a copier to become free, management is considering adding one or more additional copy machines.
Jim McDonald, manager of the fast-food hamburger restaurant McBurger, realizes that providing fast service is a key to the success of the restaurant.Customers who have to wait very long are likely to go to one of the other fast-food restaurants in town next time. He estimates that each minute a
When describing economic analysis of the number of servers to provide in a queueing system, Section 13.9 introduces a cost model where the objective is to minimize TC = Css + CwL. The purpose of this problem is to enable you to explore the effect that the relative sizes of Cs and Cw have on the
The Becker Company factory has been experiencing long delays in jobs going through the turret lathe department because of inadequate capacity. The head of this department contends that five turret lathes are required, as opposed to the three turret lathes that he now has. However, because of

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ISE Introduction To Management Science And Business Analytics A Modeling And Case Studies Approach With Spreadsheets 7th INTERNATIONAL Edition Hillier, Frederick S, Lieberman, Gerald J - Solutions

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