Business decision model/probability question, please answer with detailed procedures, excel and calculations. Need explanations. Will rate helpful.

Question 12 (2 points) Table A small furniture manufacturer produces tables and chairs. Each product must go through three stages of the manufacturing process: assembly, finishing, and inspection. Each table requires 4 hours of assembly, 3 hours of finishing, and 1 hour of inspection. Each chair requires 3 hours of assembly, 2 hours of finishing, and 2 hours of inspection. The selling price per table is $140 while the selling price per chair is $90. Currently, each week there are 220 hours of assembly time available, 160 hours of finishing time, and 45 hours of inspection time. Assume that one hour of assembly time costs $5.00; one hour of finishing time costs $6.00; one hour of inspection time costs $4.50; and that whatever labor hours are not required for the table and chairs can be applied to another product. Linear programming is to be used to develop a production schedule. Define the variables as follows: T = number of tables produced each week C = number of chairs produced each week Suppose that the problem described in above is modified to specify that one-third of the tables produced must have 6 chairs, one-third must have 4 chairs, and one-third must have 2 chairs. How would this constraint be written? 0 None of the above Question 13 (1 point) Validation relates to building the model right. C True C FalseQuestion 14 (1 point) In a Monte Carlo Simulation we can use random numbers from the uniform (0,1) distribution (i.e., all numbers between 0 and 1 are equally likely) to sample from any probability distribution function. Question 15 (1 point) When evaluating the decision alternatives for a quantitative decision criterion in an AHP analysis, assuming no data entry errors, it is not necessary to calculate the consistency ratio because quantitative criteria are perfectly consistent. Question 16 (1 point) When simulating a system that does not yet exist in the real world, the best we can achieve is face validity. Question 26 (1 point) Professor Roman demonstrated a clear personal preference for stochastic modelling over deterministic modelling. Which of the following explains why? 0 The optimal solution is a mirage! O Deterministic models often require unrealistic assumptions. O Stochastic models are better at representing real-world complexities. O Uncertainty is everywhere and always. 0 All of the above