Managerial Decision Modeling Business Analytics With Spreadsheet 4th Edition Nagraj Balakrishnan, Barry Render, Ralph Stair, Charles Munson - Solutions

What is meant by satisficing, and why is the term often used in conjunction with GP?
Provide your own examples of five applications of IP.
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard shortest path problem with 8 nodes, where the objective is to find the shortest path through the network from node 1 to node 8. In Solver, specify all cells in the decision variable table
In what ways do you think that corporations or governments could abuse their access to big data? What types of safeguards can governments, corporations, and individuals implement to try to mitigate these risks?
What is implementation, and why is it important?
St. Joseph’s School has 1,200 students, each of whom pays $8,000 per year to attend. In addition to revenues from tuition, the school receives an appropriation from the church to sustain its activity. The budget for the upcoming year is $15 million, and the church appropriation will be $4.8
(a) Modify the Millers’ Tax Computation program in Figure 1.2 to include the next higher tax bracket: 28% for earnings between $153,101 and $233,350.(b) Suppose that Sue’s estimated income is now $120,000, and Rob’s is $80,200. What will be their new estimated tax per quarter?Figure 1.2 A B
(a) Modify the Millers’ Tax Computation program in Figure 1.2 to include a tax deduction for educator expenses.(b) Next modify the program to account for a growing family. In particular, instead of having two personal exemptions hard-coded in the Tax Computation formula for “Personal
Create an Excel model to provide the answer for Problem 1–19.Problem 1–19A website has a fixed cost of $15,000 per day. The revenue is $0.06 each time the website is accessed. The variable cost of responding to each hit is $0.02.(a) How many times must this website be accessed each day to break
Suppliers frequently provide quantity discounts to customers who place large orders. An all-units quantity discount applies a discount to all units purchased once the applicable price breaks have been reached. Consider the following all-units quantity discount schedule:Size of Order
Suppliers frequently provide quantity discounts to customers who place large orders. An incremental quantity discount provides a discount to all units purchased beyond the applicable price breaks, but units purchased before the price breaks still pay their respective higher prices. Consider the
Consider a machine that fills bottles with beer. Output is known to be normally distributed with a standard deviation σ of 0.2 ounces. The bottle labels state that the bottles contain 10 ounces of beer. (Thus, consider 10 to be the lower specification limit, or LSL.) Management can calibrate the
What are the components of defining a problem in Excel so that it can be solved using Solver?
What is the optimal solution (X, Y, Z) to the following linear program? You should be able to solve this question by inspection, i.e., without graphing or using Excel.Max 2X + 4Y + 6Zsubject to the constraintsZ ≤ 0X + Y + Z ≤ 20X, Y, Z, ≥ 0
Consider the following constraints from a two-variable linear program.(1) X ≥ 0(2) Y ≥ 0(3) 10X + 4Y ≤ 110(4) 5X − Y ≤ 90If constraints (2) and (3) are binding, what is the optimal solution (X, Y)?
Solve the following LP problem by using the graphical procedure and by using Excel:Minimize cost = 4X + 7Y subject to the constraints3X + 6Y ≥ 10010X + 2Y ≥ 1602Y ≥ 402X ≤ 75X, Y ≥ 0
The Coastal Tea Company sells 60-pound bags of blended tea to restaurants. To be able to label the tea as South Carolina Tea, at least 55% of the tea (by weight) in the bag must be Carolina grown. For quality, Coastal requires that the blend achieve an average aroma rating of at least 1.65.
A small manufacturer makes two types of motors, models A and B. The assembly process for each is similar in that both require a certain amount of wiring, drilling, and assembly. Each model A takes 3 hours of wiring, 2 hours of drilling, and 1.5 hours of assembly. Each model B must go through 2
Find the intersection of each of the following sets of constraints.(a) 10X + 8Y = 800 and X + 4Y = 100(b) 2X + 4Y ≤ 28 and 3X – 12Y ≥ 6(c) 4X + 9Y ≤ 180 and 8X + 2Y ≤ 240(d) 4X – 7Y ≥ 75 and 5X – 9Y ≤ 35
Consider the linear programming formulation below. Which constraint is redundant?Maximize profit = 4X + 4Ysubject to the constraints6X + 4Y ≤ 1203X + 8Y ≤ 1202X + 2.5Y ≤ 100X, Y ≥ 0
Consider the linear programming formulation below, where X and Y represent units of production of two different products. As currently written, the formulation is infeasible. The formulation can become feasible if one of the constraints (other than nonnegativity) is removed. Which single constraint
Consider the linear programming formulation below.Minimize cost = 5X + 4Ysubject to the constraints5X + 4Y ≥ 2004X + 6Y ≥ 3608X + 4Y ≤ 160X ≥ 20Y ≤ 50X, Y ≥ 0(a) Try to solve the
Consider the linear programming formulation below.Maximize profit = 50X + 42Ysubject to the constraints5X − 4Y ≤ 200X ≤ 60Y ≥ 10X, Y ≥ 0(a) Try to solve the problem in Excel. What error message do you get?(b) Add a single constraint that would eliminate the error message. What constraint
Solve the following LP problem by using the graphical procedure and by using Excel:Maximize 40X + 50Ysubject to the constraintsX + 2Y ≤ 804X + 3Y ≤ 240X ≤ 51X, Y ≥ 0
Consider the linear programming formulation below.Maximize 9T + 10S + 2Psubject to the constraintsT + S + P = 6S ≥ 3T ≥ 1P ≤ 3T, S, P ≥ 0This is a linear program with 3 variables. Rewrite this as an algebraically equivalent linear program that only has 2 variables. Then solve the problem
Solve the following LP problem, which involves three decision variables, by using Excel:Minimize cost = 10.50X + 4.60Y + 12.20Zsubject to the constraints5X + 4Y ≥ 2004X − 6Y + 8Z ≥ 360X ≤ 0.40(X + Y + Z)Z ≥ YX, Y, Z ≥ 0
Modify the Holiday Meal Turkey Ranch Problem in Figure 2.22 to include a third brand (Brand C). Brand C feed costs $0.12 per pound. Each pound of Brand C feed contains 12 protein units, 2 vitamin units, and 0.20 iron units. Use Excel to solve the problem.Figure 2.22 1 Holiday Meal Turkey Ranch Use
Solve the following LP problem, which involves four decision variables, by using Excel:Maximize profit = 210A + 400B + 320C + 280Dsubject to the constraints5A + 14B + 6C + 8D ≤ 200A ≥ 10B ≤ 0.25(A + B + Y + Z)D ≥ BA, B, C, D ≥ 0
A manufacturer of travel pillows must determine the production plan for the next production cycle. He wishes to make at least 300 of each of the three models that his firm offers and no more than 1,200 of any one model. The specifics for each model are shown in the following table. How many
Consider the Win Big Gambling Club media selection problem in Section 3.3 (Figure 3.4). In that formulation, we maximized audience coverage subject to an advertising budget constraint (plus other constraints). Problems such as this can alternatively be formulated to minimize advertising
College freshman Jon Jackson wants to plan his Saturday night schedule for the next three weekends. In particular, he wants to determine what to do between 8:00 p.m. until 2:00 a.m. each Saturday night. He has narrowed his choices to three possible activities each evening, and he has assigned
Pullman Tire Company would like to plan production for the next three months. The firm can satisfy demand by using inventory, regular production (at $40 per tire), overtime (at $50 per tire), or subcontracting (at $70 per tire). Any tires held over for one month incur a $2 per tire inventory
The Marketing Club on campus sells three popular mixed soda drinks on campus to raise funds. The drinks are simple mixed blends of pure flavors of grape, orange, and cherry soda. “Starburst” comprises 50% orange, 25% grape, and 25% cherry. “Morning Delight” comprises 75% orange and 25%
Some countries impose “local content rules” on products manufactured in their country to try to stimulate the use of local suppliers and presumably to help the local economy. Global Industries, Inc., produces in a country imposing a local content rule stating that 60% of the value of all
The Good-to-Go Suitcase Company makes three kinds of suitcases: (1) Standard, (2) Deluxe, (3) Luxury styles. Each suitcase goes through four production stages: (1) Cutting and coloring, (2) Assembly, (3) Finishing, (4) Quality and packaging. The total
Consider Figure 4.20, which shows the Sensitivity Report for the Burn-Off Diet Drink example in Section 4.7. For each of the situations described below, check to see if the 100% rule can be used to determine the impact of the simultaneous changes described. If so, compute the total change in cost.
Consider Figure 4.11, which shows the Sensitivity Report for the Flair Furniture Company example in Section 4.3. By examining this figure and the LP formulation, can you compute by hand the optimal product mix if carpentry hours increase by 200 units? If so, what is the answer?Figure 4.11 Microsoft
Consider Figure 4.16, which shows the Sensitivity Report for the Anderson Home Electronics example in Section 4.4. Use the Sensitivity Report to answer the following questions, if possible. Each question is independent of the other questions.(a) What is the impact of a 300-unit decrease in the
Consider the Flair Furniture example from Sections 4.2 and 4.3. Suppose that the company is considering the option of making stools in addition to its tables and chairs. Stools take 1 hour of carpentry time and 0.5 hours of painting time. Each hour of carpentry time costs $20, and each hour of
Consider Figure 4.22 from the Hong Kong Bank labor planning example presented in Solved Problem 4–1. Suppose that every day between 11:00 a.m. and noon, two tellers’ worth of demand comes from employees from a nearby international company that requires a large number of teller transactions from
Consider Figure 4.22 from the Hong Kong Bank labor-planning example presented in Solved Problem 4–1. What would be the impact on daily cost if corporate policy changed to allow the part-time hours to increase to a maximum of 75% of the day’s total requirement (instead of just 50%)?Figure 4.22
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard transportation problem with 5 origins and 4 destinations.
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard transshipment problem with 2 origins, 3 transshipment nodes, and 3 destinations.
Managers sometimes make the mistake of trying to solve an assignment problem by hand by assigning workers to jobs according to a “best rating next” myopic decision rule, where the next assignment made is the one that has the lowest remaining cost (for a minimization problem) or highest
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard assignment problem with 6 people to be assigned to 6 jobs to maximize effectiveness.

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