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quantitative analysis for management
Quantitative Analysis For Management 13th Global Edition Barry Render, Ralph M. Stair, Michael Hanna, Trevor Hale - Solutions
Quality Suppliers, Inc., has decided to extend its shipping option. (Refer to Problem 6-43 for details.)Now, Quality Suppliers is offering to ship the amount ordered in five equal shipments, one each week. It will take five weeks for this entire order to be received. What are the order quantity and
The Hardware Warehouse is evaluating the safety stock policy for all its items, as identified by the SKU code. For SKU M4389, the company always orders 80 units each time an order is placed. The daily demand is constant, at 5 units per day; the lead time is normally distributed, with a mean of
For SKU A3510 at the Hardware Warehouse, the order quantity has been set at 150 units each time an order is placed. The daily demand is normally distributed, with a mean of 12 units and a standard deviation of 4.It always takes exactly five days for an order of this item to arrive. The holding cost
H & K Electronic Warehouse sells a 12-pack of AAA batteries, and this is a very popular item. Demand for this is normally distributed, with an average of 50 packs per day and a standard deviation of 16.The average delivery time is five days, with a standard deviation of two days. Delivery time has
Georgia Products offers the following discount schedule for its 4- by 8-foot sheets of good-quality plywood:Home Sweet Home Company orders plywood from Georgia Products. Home Sweet Home has an ordering cost of $45. The carrying cost is 20%, and the annual demand is 100 sheets. What do you
Fresh First grocery store faces demand for freshly squeezed pomegranate juice. The daily demand for pomegranate juice varies according to the following distribution:The daily demand for freshly squeezed pomegranate juice ranges from 0 to 5 gallons. The grocery store offers the juice in a special 1
Harry’s Hardware does a brisk business during the year. During Christmas, Harry’s Hardware sells Christmas trees for a substantial profit. Unfortunately, any trees not sold at the end of the season are totally worthless. Thus, the number of trees to stock for a given season is a very important
In addition to selling Christmas trees during the Christmas holidays, Harry’s Hardware sells all the ordinary hardware items (see Problem 6-53). One of the most popular items is Great Glue HH, a glue that is made just for Harry’s Hardware. The selling price is $4 per bottle, but unfortunately,
Demand for local newspapers in King County during weekdays is normally distributed with a mean of 500 and standard deviation of 100.The marginal loss per paper is $0.10 and marginal profit is $0.40.How many newspapers should the local publisher produce each day?
This chapter presents a material structure tree for item A in Figure 6.12. Assume that it now takes 1 unit of item B to make every unit of item A. What impact does this have on the material structure tree and the number of items D and E that are needed?
Given the information in Problem 6-60, develop a gross material requirements plan for 50 units of item A.
Using the data from Figures 6.12–6.14, develop a net material requirements plan for 50 units of item A assuming that it takes only 1 unit of item B for each unit of item A.
The demand for product S is 100 units. Each unit of S requires 1 unit of T and 0.5 ounce of U. Each unit of T requires 1 unit of V, 2 units of W, and 1 unit of X. Finally, each unit of U requires 0.5 ounce of Y and 3 units of Z. All items are manufactured by the same firm. It takes two weeks to
A media selection LP application describes a method in which media producers select customers.a. Trueb. False
The selection of specific media from among a wide variety of alternatives is known asa. the product mix problem.b. the investment banker problem.c. the portfolio selection problem.d. none of the above.
Linear programming is usually used by managers involved in portfolio selection toa. maximize return on investment.b. maximize investment limitations.c. maximize risk.d. minimize risk.
What is the objective in the truck loading problem?a. minimize trucking distanceb. minimize the weight of the load shippedc. maximize the value of the load shippedd. minimize the cost of the load shipped
What is another name for blending problems?a. diet problemsb. ingredient problemsc. feed mix problemsd. production mix problems
The selection of specific investments from among a wide variety of alternatives is the type of LP problem known asa. the product mix problem.b. the investment banker problem.c. the portfolio selection problem.d. the Wall Street problem.e. none of the above.
Winkler Furniture manufactures two different types of china cabinets: a French Provincial model and a Danish Modern model. Each cabinet produced must go through three departments:carpentry, painting, and finishing. The table on this page contains all relevant information concerning production times
The Heinlein and Krampf Brokerage firm has just been instructed by one of its clients to invest $250,000 of her money obtained recently through the sale of land holdings in Ohio. The client has a good deal of trust in the investment house, but she also has her own ideas about the distribution of
The famous Y. S. Chang Restaurant is open 24 hours a day. Waiters and busboys report for duty at 3 a.m., 7 a.m., 11 a.m., 3 p.m., 7 p.m., or 11 p.m., and each works an 8-hour shift. The following table shows the minimum number of workers needed during the six periods into which the day is divided.
(Animal feed mix problem) The Battery Park Stable feeds and houses the horses used to pull tourist-filled carriages through the streets of Charleston’s historic waterfront area. The stable owner, an ex-racehorse trainer, recognizes the need to set a nutritional diet for the horses in his care. At
The Kleenglass Corporation makes a dishwasher that has excellent cleaning power. This dishwasher uses less water than most competitors, and it is extremely quiet. Orders have been received from several retail stores for delivery at the end of each of the next 3 months, as shown below:Due to limited
Eddie Kelly is running for reelection as mayor of a small town in Alabama. Jessica Martinez, Kelly’s campaign manager during this election, is planning the marketing campaign, and there is some stiff competition. Martinez has selected four ways to advertise: television ads, radio ads, billboards,
(Media selection problem) The advertising director for Diversey Paint and Supply, a chain of four retail stores on Chicago’s North Side, is considering two media possibilities. One plan is for a series of half-page ads in the Sunday Chicago Tribune newspaper, and the other is for advertising time
(Automobile leasing problem) Sundown Rent-a-Car, a large automobile rental agency operating in the Midwest, is preparing a leasing strategy for the next six months. Sundown leases cars from an automobile manufacturer and then rents them to the public on a daily basis. A forecast of the demand for
Management of Sundown Rent-a-Car (see Problem 8.8) has decided that perhaps the cost during the sixmonth period is not the appropriate cost to minimize because the agency may still be obligated to additional months on some leases after that time. For example, if Sundown had some cars delivered at
(High school busing problem) The Arden County, Maryland, superintendent of education is responsible for assigning students to the three high schools in his county. He recognizes the need to bus a certain number of students, for several sectors of the county are beyond walking distance to a school.
(Pricing and marketing strategy problem) The I. Kruger Paint and Wallpaper Store is a large retail distributor of the Supertrex brand of vinyl wallcoverings.Kruger will enhance its citywide image in Miami if it can sell more rolls of Supertrex next year than other local stores. It is able to
(College meal selection problem) Kathy Roniger, campus dietitian for a small Idaho college, is responsible for formulating a nutritious meal plan for students. For an evening meal, she feels that the following five meal-content requirements should be met: (1) between 900 and 1,500 calories; (2) at
(High-tech production problem) Quitmeyer Electronics Incorporated manufactures the following six microcomputer peripheral devices: internal modems, external modems, graphics circuit boards, CD drives, hard disk drives, and memory expansion boards. Each of these technical products requires time, in
(Nuclear plant staffing problem) South Central Utilities has just announced the August 1 opening of its second nuclear generator at its Baton Rouge, Louisiana, nuclear power plant. Its personnel department has been directed to determine how many nuclear technicians need to be hired and trained over
(Agricultural production planning problem) Margaret Black’s family owns five parcels of farmland, referred to as the southeast sector, north sector, northwest sector, west sector, and southwest sector.Margaret is involved primarily in growing wheat, alfalfa, and barley crops and is currently
(Material blending problem) Amalgamated Products has just received a contract to construct steel body frames for automobiles that are to be produced at a new Japanese auto factory in Tennessee. The Japanese auto manufacturer has strict quality control standards for all of its component
(Hospital expansion problem) Mt. Sinai Hospital in New Orleans is a large, private, 600-bed facility, complete with laboratories, operating rooms, and x-ray equipment. In seeking to increase revenues, Mt. Sinai’s administration has decided to build a 90-bed addition on a portion of adjacent land
Prepare a written report to the CEO of Mt. Sinai Hospital in Problem 8.18 on the expansion of the hospital.Round off your answers to the nearest integer. The format in which you present the results is important.The CEO is a busy person and wants to be able to find your optimal solution quickly in
In the Low Knock Oil Company blending problem in Section 8.6, it was assumed that one barrel of crude would result in one barrel of gasoline as the final product. In processing one barrel of crude, a typical gasoline yield is about 0.46 barrel, although it could be higher or lower than this,
A paper mill produces rolls of paper that are 10 inches wide and 100 feet long. These rolls are used for creating narrower rolls of paper that are used in cash registers, automatic teller machines (ATMs), and other devices.The narrower widths (2.5, 3, and 3.5 inches) needed for these devices are
(Portfolio selection problem) Daniel Grady is the financial advisor for a number of professional athletes.An analysis of the long-term goals for many of these athletes has resulted in a recommendation to purchase stocks with some of the income that they have set aside for investments. Five stocks
Coast-to-Coast Airlines is investigating the possibility of reducing the cost of fuel purchases by taking advantage of lower fuel costs in certain cities. Since fuel purchases represent a substantial portion of operating expenses for an airline, it is important that these costs be carefully
When using a general LP model for transportation problems, if there are 4 sources and 3 destinations, which of the following statements is true?a. There are typically 4 decision variables and 3 constraints.b. There are typically 12 decision variables and 7 constraints.c. There are typically 7
The two most common objectives for the assignment problem are the minimization ofa. uncertainty or inexperience.b. total costs or inexperience.c. total costs or total time.d. total time or inexperience.
Transportation models can be used for which of the following decisions?a. facility locationb. production mixc. media selectiond. portfolio selection
A point in the network that is at the beginning or end of a route is called a(n)a. arc.b. branch.c. line.d. node.
The shortest-route technique would be best used toa. determine the number of units to ship from each source to each destination.b. determine the amount of LAN network wiring within a building.c. minimize the amount of traffic on a busy highway.d. determine the path for a truck making frequent but
A technique that allows a researcher to determine the greatest amount of material that can move through a network is calleda. maximal-flow.b. maximal-spanning.c. shortest-route.d. maximal-tree.
Which of the following techniques require all the nodes to be connected?a. minimal-flowb. maximal-spanning treec. maximal-flowd. minimal-spanning tree
Explain how to determine the number of variables and constraints in a transportation problem when only the number of sources and the number of destinations are known.
What kind of problems can be solved with the minimal-spanning tree model?
The management of the Executive Furniture Corporation decided to expand the production capacity at its Des Moines factory and to cut back the production capacities at its other two factories. It also recognizes a shifting market for its desks and revises the requirements at its three warehouses.The
The Hardrock Concrete Company has plants in three locations and is currently working on three major construction projects, each located at a different site.The shipping cost per truckload of concrete, daily plant capacities, and daily project requirements are provided in the table on this
Hardrock Concrete’s owner has decided to increase the capacity at his smallest plant (see Problem 9.8).Instead of producing 30 loads of concrete per day at plant 3, that plant’s capacity has been doubled to 60 loads. Does this change the schedule developed previously?
The Saussy Lumber Company ships pine flooring to three building-supply houses from its mills in Pineville, Oak Ridge, and Mapletown. Determine the best transportation schedule for the data given in the table on this page.
The Krampf Lines Railway Company specializes in coal handling. On Friday, April 13, Krampf had empty cars at the following towns in the quantities indicated:By Monday, April 16, the following towns will need the numbers of coal cars listed:Using a railway city-to-city distance chart, the dispatcher
An air-conditioning manufacturer produces room air conditioners at plants in Houston, Phoenix, and Memphis. These are sent to regional distributors in Dallas, Atlanta, and Denver. The shipping costs vary, and the company would like to find the least-cost way to meet the demands at each of the
Finnish Furniture manufactures tables in facilities located in three cities—Reno, Denver, and Pittsburgh.The tables are then shipped to three retail stores located in Phoenix, Cleveland, and Chicago.Management wishes to develop a distribution schedule that will meet the stores’ demands at the
The available supplies are 120 units from Reno, 200 from Denver, and 160 from Pittsburgh. Phoenix has a demand of 140 units, Cleveland has a demand of 160 units, and Chicago has a demand of 180 units.How many units should be shipped from each manufacturing facility to each of the retail stores if
The state of Missouri has three major power-generating companies (A, B, and C). During the months of peak demand, the Missouri Power Authority authorizes these companies to pool their excess supply and to distribute it to smaller, independent power companies that do not have generators large enough
The three blood banks in Franklin County are coordinated through a central office that facilitates blood delivery to four hospitals in the region. The cost to ship a standard container of blood from each bank to each hospital is shown in the table on this page.Also given are the biweekly number of
The B. Hall Real Estate Investment Corporation has identified four small apartment buildings in which it would like to invest. Mrs. Hall has approached three savings and loan companies regarding financing.Because Hall has been a good client in the past and has maintained a high credit rating in the
The J. Mehta Company’s production manager is planning for a series of 1-month production periods for stainless steel sinks. The demand for the next 4 months is as follows:The Mehta firm can normally produce 100 stainless steel sinks in a month. This is done during regular production hours at a
Ashley’s Auto Top Carriers currently maintains plants in Atlanta and Tulsa that supply major distribution centers in Los Angeles and New York. Because of an expanding demand, Ashley has decided to open a third plant and has narrowed the choice to one of two cities—New Orleans or Houston. The
Don Levine Corporation is considering adding an additional plant to its three existing facilities in Decatur, Minneapolis, and Carbondale. Both St. Louis and East St. Louis are being considered.Evaluating only the transportation costs per unit, as shown in the tables below, which site is better?
Using the data from Problem 9-20 plus the unit production costs shown in the following table, which locations yield the lowest cost? LOCATION PRODUCTION COSTS Decatur $50 Minneapolis 60 Carbondale 70 East St. Louis 40 St. Louis 50 50
In a job shop operation, four jobs may be performed on any of four machines. The hours required for each job on each machine are presented in the following table. The plant supervisor would like to assign jobs so that total time is minimized. Find the best solution. Which assignments should be
In Problem 9-24, the minimum travel distance was found. To see how much better this solution is than the assignments that might have been made, find the assignments that would give the maximum distance traveled. Compare this total distance with the distance found in Problem 9-24.
The hospital administrator at St. Charles General must appoint head nurses to four newly established departments:urology, cardiology, orthopedics, and obstetrics.In anticipation of this staffing problem, she had hired four nurses: Hawkins, Condriac, Bardot, and Hoolihan.Believing in the
The Patricia Garcia Company is producing seven new medical products. Each of Garcia’s eight plants can add one more product to its current line of medical devices. The unit manufacturing costs for producing the different parts at the eight plants are shown in the table on this page. How should
Haifa Instruments, an Israeli producer of portable kidney dialysis units and other medical products, develops an 8-month aggregate plan. Demand and capacity (in units) are forecast as shown in the table on this page.The cost of producing each dialysis unit is$1,000 on regular time, $1,300 on
The XYZ Corporation is expanding its market to include Texas. Each salesperson is assigned to potential distributors in one of five different areas. It is anticipated that the salesperson will spend about three to four weeks in the assigned area. A statewide marketing campaign will begin once the
Bechtold Construction is in the process of installing power lines to a large housing development. Steve Bechtold wants to minimize the total length of wire used, which will minimize his costs. The housing development is shown as a network on this page.Each house has been numbered, and the distances
The city of New Berlin is considering making several of its streets one-way (see the network on this page). Also, due to increased property taxes and an aggressive road development plan, the city of New Berlin has been considering increasing the road capacity of two of its roads. If this is done,
The director of security wants to connect security video cameras to the main control site from five potential trouble locations. Ordinarily, cable would simply be run from each location to the main control site. However, because the environment is potentially explosive, the cable must be run in a
The road system between the hotel complex on International Drive (node 1) and Disney World (node 11) in Orlando, Florida, is shown in the network below.The numbers by the nodes represent the traffic flow in hundreds of cars per hour. What is the maximum flow of cars from the hotel complex to Disney
The numbers in the network below represent thousands of gallons per hour as they flow through a chemical processing plant. Two terminals in the chemical processing plant, represented by nodes 6 and 7, have had problems recently, and repairs on these are being considered. However, these repairs
The German towns around the Black Forest are represented by nodes in the network below. The distances between towns are shown in kilometers. Find the shortest route from city 1 to city 16.If flooding in cities 7 and 8 forces closure of all roads leading into or coming out of those cities, how would
In going from Quincy to Old Bainbridge, there are 10 possible roads that George Olin can take.Each road can be considered a branch in the shortest-route problem.(a) Using the following table, determine the route from Quincy (node 1) to Old Bainbridge(node 8) that will minimize total distance
South Side Oil and Gas, a new venture in Texas, has developed an oil pipeline network to transport oil from exploration fields to the refinery and other locations. There are 10 pipelines (branches) in the network. The oil flow in hundreds of gallons and the network of pipelines are given in the
The following table represents a network with the arcs identified by their starting and ending nodes.Draw the network and use the minimal-spanning tree technique to find the minimum distance required to connect these nodes. ARC DISTANCE 1-2 12 1-3 8 2-3 7 2-4 10 3-4 9 3-5 8 4-5 8 4-6 11 5-6 9
Which of the following terms is interchangeable with quantitative analysis?a. management scienceb. economicsc. financial analysisd. statistics
Who is credited with pioneering the principles of the scientific approach to management?a. Adam Smithb. Henri Fayolc. John R. Locked. Frederick W. Taylor
Which of the following is not one of the steps in the quantitative analysis approach?a. defining the problemb. developing a solutionc. observing a hypothesisd. testing a solution
The condition of improper data yielding misleading results is referred to asa. garbage in, garbage out.b. break-even point.c. uncontrollable variable.d. postoptimality
Quantitative analysis is typically associated with the use ofa. schematic models.b. physical models.c. mathematical models.d. scale models.
The break-even point is an example of aa. postoptimality model.b. quantitative analysis model.c. schematic model.d. sensitivity analysis model.
A set of logical and mathematical operations performed in a specific sequence is called a(n)a. complete enumeration.b. diagnostic analysis.c. algorithm.d. objective.
Expressing profits through the relationship between unit price, fixed costs, and variable costs is an example of aa. sensitivity analysis model.b. quantitative analysis model.c. postoptimality relationship.d. parameter specification model.
A controllable variable is also called aa. parameter.b. decision variable.c. mathematical model.d. measurable quantity.
Which of the following techniques involves the study and consolidation of historical data for a business and an industry?a. descriptive analyticsb. prescriptive analyticsc. predictive analyticsd. management science
Define quantitative analysis. Identify the steps involved in the quantitative analysis approach.
Identify three potential problems with people that may hinder successful implementation of a quantitative model.
Managers are quick to claim that quantitative analysts talk to them in a jargon that does not sound like English. List four terms that might not be understood by a manager. Then explain in nontechnical language what each term means.
If two events are mutually exclusive, thena. their probabilities can be added.b. they may also be collectively exhaustive.c. the joint probability is equal to 0.d. if one occurs, the other cannot occur.e. all of the above.
Which of the following is a numerical statement about the likelihood that an event will occur?a. mutually exclusive constructb. collectively exhaustive constructc. varianced. probability
To compute the variance of a discrete random variable, you need to knowa. the variable’s possible values.b. the expected value of the variable.c. the probability of each possible value of the variable.d. all of the above.
The square root of the variance isa. the expected value.b. the standard deviation.c. the area under the normal curve.d. all of the above.
Which of the following is an example of a discrete distribution?a. the normal distributionb. the exponential distributionc. the Poisson distributiond. the Z distribution
Which of the following describes the probability of event B given that event A has occurred?a. continuousb. marginalc. simpled. jointe. conditional
In the normal distribution, 95.45% of the population lies withina. 1 standard deviation of the mean.b. 2 standard deviations of the mean.c. 3 standard deviations of the mean.d. 4 standard deviations of the mean.
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