Priceler manufactures sedans and wagons. The number of vehicles that can be sold each of the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Priceler manufactures sedans and wagons. The number of vehicles that can be sold each of the next three months are listed in the table below. Each sedan sells for $8000, and each wagon sells for $9000. It costs $6000 to produce a sedan and $7500 to produce a wagon. To hold a vehicle in inventory for one month costs $150 per sedan and $200 per wagon. During each month, at most 1500 vehicles can be produced. Production line restrictions dictate that during month 1, at least two thirds of all cars produced must be sedans. At the beginning of month 1, 200 sedans and 100 wagons are available. Formulate an LP that can be used to maximize Priceler's profit during the next three months. Month 1 Month 2 Month 3 Sedans 1100 1500 1200 Wagons 600 700 500 Priceler manufactures sedans and wagons. The number of vehicles that can be sold each of the next three months are listed in the table below. Each sedan sells for $8000, and each wagon sells for $9000. It costs $6000 to produce a sedan and $7500 to produce a wagon. To hold a vehicle in inventory for one month costs $150 per sedan and $200 per wagon. During each month, at most 1500 vehicles can be produced. Production line restrictions dictate that during month 1, at least two thirds of all cars produced must be sedans. At the beginning of month 1, 200 sedans and 100 wagons are available. Formulate an LP that can be used to maximize Priceler's profit during the next three months. Month 1 Month 2 Month 3 Sedans 1100 1500 1200 Wagons 600 700 500
Expert Answer:
Answer rating: 100% (QA)
Let sjs Number of sedans sold in month j sjp Number of sedans produced in month j wjs Number of wago... View the full answer
Related Book For
An Introduction to Management Science Quantitative Approach to Decision Making
ISBN: 978-1337406529
15th edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Posted Date:
Students also viewed these general management questions
-
For each day of last year, the number of vehicles passing through a certain intersection was recorded by a city engineer. One objective of this study was to determine the percentage of days that more...
-
The carbon steels listed in the table below were soaked at 1000 C for 1 hour to form austenite and were cooled slowly, under equilibrium conditions to room temperature. Refer to the Fe-Fe3C phase...
-
The number of vehicles crossing a line on an interstate is Poisson with an average of 5 per hour. A slug arrives at the interstate and | will wait until no vehicles have crossed the line for 5...
-
Explain why Soil Taxonomy is said to be a hierarchical classification system.
-
Refer to the situation described inBE 5-6. The building was completed during the second year. Construction costs incurred during the second year were $10 million. How much gross profit will the...
-
Consider the following two mutually exclusive projects: Year _________Cash Flow (A) ____________Cash Flow (B) 0 ..................... -$365,000 ........................ -$40,000 1...
-
The capital structure of Audiology Associates, Inc., at December 31, 2007 , included 5,000 shares of \(\$ 2\) preferred stock and 100,000 shares of common stock. Common shares outstanding during 2008...
-
Why do firms have separate departments for warehousing and shipping? What about warehousing and inventory control? Doesnt this just create more paperwork?
-
On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 84,000 shares authorized, issued, and outstanding Paid-in capital in excess of par...
-
Which statement concerning TQM in services is false a Service quality often depends upon the courtesy of the sales person b Service quality often depends upon how problems are handled c Service...
-
Oriole Corp. has outstanding 20500 no par value, $0.70, preferred shares and 100500 no par value common shares. Dividends have been paid every year except last year and the current year. The carrying...
-
What leadership means to you. Explain why leadership and management are different. Use your own words. Read the material and then format your reply to include a personal example where you have...
-
Discuss the role of autonomous maintenance within the TPM framework. How does this approach empower operators and improve overall equipment effectiveness (OEE), and what training and cultural changes...
-
Explain the use of predictive maintenance techniques within TPM. How do advanced technologies like machine learning, artificial intelligence, and condition-based monitoring improve equipment lifespan...
-
Tampermure Company has three product segments: Prefabrications, Castings, and Forging. Forging seems to be unprofitable and management is considering dropping the segment entirely. Fixed Costs have...
-
1400 1200 1000 800 600 400 200 0 Impact of Post retairment age (55-90) on employement status 100% 1176 1141 1121 1102 1059 90% 80% 70% 801 60% 50% 40% 30% 20% 10% 0% Full-time employment Part-time...
-
Diversifying to reduce volatility is a good idea only if A) shareholders can diversify within their own investment portfolios at low cost. B) shareholders are willing to pay premium for a company in...
-
Explain the operation of the dividends received deduction.
-
Schneiders Sweet Shop specializes in homemade candies and ice cream. Schneider produces its ice cream in-house, in batches of 50 pounds. The first stage in ice cream making is the blending of...
-
Tucker, Inc., produces high-quality suits and sport coats for men. Each suit requires 1.2 hours of cutting time and 0.7 hours of sewing time, uses 6 yards of material, and provides a profit...
-
The Centers for Disease Control and Prevention Office on Smoking and Health (OSH) is the lead federal agency responsible for comprehensive tobacco prevention and control. OSH was established in 1965...
-
Discuss the physical meaning of the small-signal circuit parameter \(r_{o}\).
-
Discuss, using the concept of a load line, how a simple common-source circuit can amplify a time-varying signal.
-
Sketch a simple source-follower amplifier circuit and discuss the general ac circuit characteristics (voltage gain and output resistance).
Study smarter with the SolutionInn App