XYZ Tires, Inc. makes two types of tires, for SUV's and Hatchbacks. The firm has 500...
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XYZ Tires, Inc. makes two types of tires, for SUV's and Hatchbacks. The firm has 500 hours of production time, 250 hours of packaging, and 150 hours available for shipping. The production time required per tire type is given in the following table: SUV tire Hatchbacks tires Production Hour Production 2 1.5 Packaging 1.5 1 Shipping 1 0.5 Profit/Tire $22 $12 Assuming that the company is interested in maximizing the total profit contribution, find the optimal solution using Excel Solver and answer the following: a. How many hours of production time will be scheduled in each department? b. What is the slack time in each department? Implement a spreadsheet model and use Excel Solver to obtain a solution to the problem. XYZ Tires, Inc. makes two types of tires, for SUV's and Hatchbacks. The firm has 500 hours of production time, 250 hours of packaging, and 150 hours available for shipping. The production time required per tire type is given in the following table: SUV tire Hatchbacks tires Production Hour Production 2 1.5 Packaging 1.5 1 Shipping 1 0.5 Profit/Tire $22 $12 Assuming that the company is interested in maximizing the total profit contribution, find the optimal solution using Excel Solver and answer the following: a. How many hours of production time will be scheduled in each department? b. What is the slack time in each department? Implement a spreadsheet model and use Excel Solver to obtain a solution to the problem.
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Related Book For
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
Posted Date:
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