MNS407 Management Science. reference: An Introduction to Management Science: Quantitative Approaches to Decision Making, 15 th Edition

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MNS407 Management Science. reference: An Introduction to Management Science: Quantitative Approaches to Decision Making, 15^th Edition

For question 1 please draw a flowchart for (C)

CoursHeroTranscribedText: 1. [0.72/0.88 Points] DETAILS PREVIOUS ANSWERS ASWMSCI15 1.E.008. MY NOTES PRACTICE ANOTHER Recall the production model: Max 10x s.t. 5x < 40 x 20 Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of labor time for each unit produced. Use y as the number of units of second product produced. (a) Show the mathematical model when both products are considered simultaneously. Max 10x + 5y s.t. 5x + 2y < 40 x20, y 20 (b) Identify the controllable and uncontrollable inputs for this model. (Select all that apply.) (i) controllable V X dy O labor hours O labor availability O unit profit (ii) uncontrollable V X labor hours labor availability unit profit 61.F 3:01 Sunny Q Search ~ CO 1/13/2(c) Draw the flowchart of the input-output process for this model. (Submit a file with a maximum size of 1 MB.) | Choose File ' No file chosen This answer has not been graded yet. (d) What are the optimal solution values of x and y? (Let P be total profit.) x=f v P posio v (e) Is the model developed in part (a) a deterministic or a stochastic model? Explain. The uncontrollable inputs are and , so the model is v 3. [0/0.88 Points] DETAILS PREVIOUS ANSWERS ASWMSCI15 1.E.013. MY NOTES PRACTICE ANOTHER Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is $625 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $9,940. Micromedia rents computers for its seminars at a cost of $135 per computer per day. (a) Develop a model for the total cost (C) to put on the seminar. Let x represent the number of students who enroll in the seminar. c=12360 X (b) Develop a model for the total profit (P) if x students enroll in the seminar. P=|T19170 x (c) Micromedia has forecast an enrollment of 45 students for the seminar. How much profit will be earned if their forecast is accurate? as) = s @590 |x (d) Compute the break-even point. x = 30786 x 4. [0/0.88 Points] PREVIOUS ANSWERS ASWMSCI15 2.E.015. PRACTICE ANOTHER Par, Inc., is a small manufacturer of golf equipment and supplies whose management has decided to move into the market for medium- and high-priced golf bags. After a thorough investigation of the steps involved in manufacturing a golf bag, management determined that each golf bag produced will require the following operations: cutting and dyeing the material, sewing, finishing, and inspection and packaging. A mathematical model has been developed that shows the constraints of production, time, and cost. It can be used to determine the number of standard bags and the number of deluxe bags to produce in order to maximize total profit contribution. Let S = number of standard bags. Let D = number of deluxe bags. Max 105 + 9D s.t. 7 1 5 S+2D < i <600 5,040