...Chapter 4 – Solving Examples of Linear Programming Models Modeling Examples http://www.youtube.com/watch?v=a2QgdDk4Xjw http://www.ateneonline.it/chase2e/studenti/tn/6184-7_supA.pdf http://www.docstoc.com/docs/15189512/Linear-Programming http://homepages.stmartin.edu/fac_staff/dstout/MBA605/Balakrishnan 2e PPT/Chapter 03.ppt http://gudo.utep.edu/UNICAL/Taylor Chap04 Applications of LP.doc http://emba42.com/PDFs/LinearProgram_apps.pdf Product Mix Example http://www.utdallas.edu/~scniu/OPRE-6201/documents/LP1-Linear_Programming.html http://www.me.utexas.edu/~jensen/ORMM/problems/units/lp_mod/index.html http://www.economicsnetwork.ac.uk/cheer/ch9_3/ch9_3p07.htm http://www.solver.com/stepbystep2.htm http://www.duncanwil.co.uk/solvlp.html YouTube Videos http://www.youtube.com/watch?v=TNLqtmkK4EA&feature=related Investment Example http://www.utdallas.edu/~scniu/OPRE-6201/documents/LP02-Investment.pdf http://rutcor.rutgers.edu/~dpapp/om-07fall/investment_lp.pdf Diet Example http://www.ozgrid.com/Services/linear-dietary.htm http://www-neos.mcs.anl.gov/CaseStudies/dietpy/WebForms/index.html http://www.zweigmedia.com/RealWorld/dietProblem/diet.html http://www.rit.edu/~w-math/Academics/Graduate/PDF/mdf0577.pdf http://or.journal.informs.org/cgi/content/abstract/49/1/1 Transportation Example http://extension.oregonstate.edu/catalog/pdf/em/em8779-e.pdf http://www.econ.ucsd.edu/~jsobel/172aw02/notes8.pdf YouTube Videos http://www.youtube.com/watch...
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...Stateline Shipping and Transport Company Assignment Name: Stephanie Airhart In Excel, or other suitable program, Develop a model for shipping the waste directly from the 6 plants to the 3 waste disposal sites. The Stateline Shipping and Transport Company wanted to transport chemical wastes from the six plants to the three waste disposal sites. The six pants and their capacity for wastes generated are shown below. Also shown are the three waste disposal sites and their demand requirements. Plants | Supply (barrels)) | | | 1. Kingsport | 35 | 2. Danville | 26 | 3. Macon | 42 | 4. Selma | 53 | 5. Columbus | 29 | 6. Allentown | 38 | Waste Disposal Sites | Demand (barrels) | A. Whitewater | 65 | B. Los Canos | 80 | C. Duras | 105 | Shown below are the shipping costs ($/per barrel) from each waste disposal site to each plants. Plants | Waste Disposal Sites | | A. Whitewater | B. Los Canos | C. Duras | 1. Kingsport | 12 | 15 | 17 | 2. Danville | 14 | 9 | 10 | 3. Macon | 13 | 20 | 11 | 4. Selma | 17 | 16 | 19 | 5. Columbus | 7 | 14 | 12 | 6. Allentown | 22 | 16 | 18 | Mathematical Formulation I. The six plants were represented by 1 through 6, while the three waste facilities were represented A through C. II. The objective function of the manager is to minimize the total transportation cost for all shipments. Minimize Z = 1A(12) + 1B(15) + 1C(17) + 2A(14) + 2B(9) + 2C(10) + 3A(13) + 3B(20) + 3C(11) + 4A(17) + 4B(16)...
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...Students, please view the "Submit a Clickable Rubric Assignment" in the Student Center. Instructors, training on how to grade is within the Instructor Center. Click the link above to submit your assignment. Assignment #1: JET Copies Case Problem Read the "JET Copies" Case Problem on pages 678-679 of the text. Using simulation estimate the loss of revenue due to copier breakdown for one year, as follows: 1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown. 2. In Excel, use a suitable method for simulating the interval between successive breakdowns, according to the continuous distribution shown. 3. In Excel, use a suitable method for simulating the lost revenue for each day the copier is out of service. 4. Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the question asked in the case study. 5. In a word processing program, write a brief description/explanation of how you implemented each component of the model. Write 1-2 paragraphs for each component of the model (days-to-repair; interval between breakdowns; lost revenue; putting it together). 6. Answer the question posed in the case study. How confident are you that this answer is a good one? What are the limits of the study? Write at least one paragraph. There are two deliverables for this Case...
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...Week 1 homework chapter 1 1. we have: Cf= 55000, cv= 8, p= 21; v= 10 000 a. Total cost TC = cf + v*cv TC= 55000+ 10000*8 TC= $135000 Total revenue TR= v*p TR= 10000*21 TR=$ 21000 Profit Profit= TR-TC Profit= TR-TC P= 21000-135000 P= $ -114 000 b.Break even volume, V= cf/ (p- cv) V= 55000/ (21- 8) V= 4230.77 recap tires, 2. monthly break even volume V= cf/ (p- cv) We have Cf= 30000, cv= 0.16, p= 0.40 V= 30000/ (0.4- 0.16) V= 125000 units 3. If the new price is p= 0.60, Then the break even volume will decrease. We don’t need to sell as much units as before to break even. Proof: V= 30000/ (0.6- 0.16) V= 68181.81 units 4. If we increase advertising, that means CF increases, then the Break even volume will increase, because the cost of the production increased. Proof; V= 30000+ 14000/ (0.6- 0.16) V= 100000 units 5.we have Cf= 5600, cv= 0.35, p= ?; v= 2000 (note: Cf= 2500+3100; Cf= $5600) a.What price should be charged to break even? Break even means Profit = 0, then TR=TC Meaning V*P= cf+ V*cv, then P= (cf+ V*cv)/ V P= (5600+ 2000*0.35)/ 2000 P= $3.15 b. If during the season, there are less guest than expected, to break even, she needs to increase the prices. 6. we have Cf= 360000, cv= 12000, p= 17000; a. determine V , V= cf/ (p-...
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...1) What three universal questions are touched upon in the Epic of Gilgamesh? Answer: History tells us that the Mesopotamian people believed that the afterlife held no joy or happiness, only eternal distraught. The story of Gilgamesh is one that touched questions that are still asked today. 1. Does everything a person has accomplished in their lifetime mean nothing once they are dead? 2. Is there an actual point or goal of a human’s life? 3. If there is, by what means can a person gain understanding as to why they are alive. 2) List the six characteristics of civilized societies and of civilizations. According to the text in order for a society to be considered civilized they have to possess certain characteristics such as: 1. They have to appear to have an urban lifestyle which includes the building of permanent housing. 2. A structure of government that has made conformities to political relations. 3. The development of diverse social classes that have different sets of standards from one another by two or more features and these features should be assets and profession. 4. Equipments as well as people with particular skills that allow this society to produce goods and all allow for an increase in manufacturing and trading. 5. Some type of written communication that would allow their society to distribute and maintain information so that it can be passed down to later generations. 6. A system of religious beliefs that is...
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...Homework Set 7 Chapter 4 & 5 Math 540 Quantitative Methods 1 Eagle Taven. Work problem 12 on page 150. Post model in the following box. Post Excel output in the following box. a) Is this a max or min problem? Ans & Z value b) How much more would be made if you added 100 to the storage capacity? c) What is the shadow price of Rainwater? (5 points) 2 Southfork Feed Company. Work problem 26 on page 157. Force the mix to have 50 pounds of corn. Set up the model Paste the Excel Sheet Below Is this a max or min problem? What is the solution? We are forcing corn to be added to the solution. For each pound of corn added how much are we increasing the cost? (5 points) 3 Kreeger Grocery Store. Work problem 33 on page 214. Your brother-in-law runs store 6, force store six to stay open. Set up the model Paste the Excel Sheet Below Is this a max or min problem? What is the solution? Extra Credit (4 points) ...
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...* uestion 1 4 out of 4 points | | | Problem 2: Complete Template "HW15-2" under Student Center, Homework Templates and upload it here......Answer | | | | | Selected Answer: | math 540 hw 15-2a.xlsx | | | | | * Question 2 0 out of 2 points | | | Problem 6a: What is the Exponentially Smoothed MAPD?Answer | | | | | Selected Answer: | 11.6% | Correct Answer: | | Evaluation Method | Correct Answer | Case Sensitivity | Exact Match | .166 | | Exact Match | 16.63% | | Exact Match | O.166 | | Exact Match | 0.17 | | Exact Match | .17 | | Exact Match | 17% | | Exact Match | 16.6% | | | | | | | * Question 3 4 out of 4 points | | | Problem 9: Which method of forcast in part a, b, and c give the best forecast?Answer | | | | | Selected Answer: | Exponentially smoothed forecast | Correct Answer: | Exponentially smoothed forecast | | | | | * Question 4 2 out of 2 points | | | Problem 26A: What is the Forecast if 30 permits are filed?Answer | | | | | Selected Answer: | 10.40 | Correct Answer: | | Evaluation Method | Correct Answer | Case Sensitivity | Exact Match | 10.40 | | Exact Match | 10.4 | | Exact Match | 10.40 Sale | | Exact Match | 10.40 Sales | | Exact Match | Y=10.40 | | | | | | | * Question 5 2 out of 2 points | | | Problem 26B: What is Correlation coefficient?Answer | | | | | Selected Answer: | ...
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...Furniture produces tables and chairs. Each product must go through three stages of the manufacturing process: assembly, finishing, and inspection. Each table requires 3 hours of assembly, 2 hours of finishing, and 1 hour of inspection. Each chair requires 2 hours of assembly, 2 hours of finishing, and 1 hour of inspection. The profit per table is $120 while the profit per chair is $80. Currently, each week there are 200 hours of assembly time available, 180 hours of finishing time, and 40 hours of inspection time. Linear programming is to be used to develop a production schedule. 1) In a Word document, describe the components of this linear programming model. (10 points) Manufacturers produce tons of goods every day, all of which impact consumers indirectly or directly. Similar to any industry, the manufacturing industry has specific objectives and corresponding strategies that are designed to improve a company's bottom line. These relate to quality, safety, vendor Hickory selection, problem identification and resolution, and efficiency and costs. When manufacturers do not produce a high-quality product, customers can begin to lose faith in the product and stop buying. Even if a company does an excellent job of sorting poor products from good ones, poor products mean a loss to the company, as the company cannot sell those items. For these reasons, one objective of manufacturing is reducing flaws and maintaining high product standards. Strategies might include weekly...
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...MAT 540 Week 4 Discussions Please respond to the following: * Choose one of the forecasting methods and explain the rationale behind using it in real-life. Adjusted exponential smooth is the exponential smoothing forecast with a trend factor added to it. It can adjust with the trend factor (Beta) with a high beta reflecting changes more than a low beta. In real life example such as forecasting computer sales based on at least one year of sales data helps management. By using exponential smoother factor (alpha) we will react and adjust more slowly as the value reaches 0. As alpha gets higher we will have a more positive effect on demand and the forecast will be for an increase. The initial smoothing constant alpha and the trend factor beta are set by the manager with a value from 0 to 1. It is adjusted accordingly and a comparison of the results is use in the forecast. * Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model. When a fast food chain plans to expand into china the use of forecasting methods will greatly enhance the company’s chances of success. For instance, they include integrated information system and real time exchange of information with its suppliers. Demand can be based on information of its demand for locations with at least 12 months of sales data. A labor management system could also use forecasting methods. What is the difference between a causal model and a time- series model...
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...ROUTE 7 SOUTH SAUNDERS MARTIN McDOWELL ROUTE 7 Inbound to Downtown De entrada al centro de la ciudad Amtrak® SOUTH 5 END NORTH Moore Square Transit Station DOWNTOWN RALEIGH MAYWOOD S. SAUNDERS BELTLINE CAROLINA PINES NOTE / ATENCION: Shaded times in the schedule below indicate when the Route 7c Carolina Pines and Route 7 South Saunders meet at the transfer point located at the Pecan and Wilmington. PECAN 4 WILMINGTON SOUTH SAUNDERES Los espacios de tiempo sombreados debajo de este mapa de ruta indicant exactamente cuando el transbordador 7c Carolina Pines y la ruta 7 South Saunders se encuentran en el punto de transferencia localizado en del Pecan and Wilmington. CHAPANOKE S. WILMINGTON ILLEAGNES WILMINGTON SERVICE RD. U.S. 401 GARNER STATION RUPERT U.S. 70 Tryon Hills Shopping Center CAT is proud to be part of the national Safe Place program. Every CAT bus is a Safe Place. MECHANICAL Garner Gateway Station Plaza Shopping Center Super Wal-Mart PURSER 1 Numbers on this map represent major stops. Intermediate stops are also available. Los números en este mapa se representan las paradas principales. Las paradas intermedias están disponibles también. 3 START 3 BUS STARTS (EL AUTOBUS COMIENZA EN) at Super Wal-Mart 4 Bus Leaves (El Autobus Sale de) from Pecan and Wilmington 5 BUS ENDS (EL AUTOBUS TERMINA EN) at Moore Square Station 3 BUS STARTS (EL AUTOBUS COMIENZA EN)...
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...| Los AvailabilityWhitewater Canos Duras (bbl) | Kingsport | 12 15 17 35 | Danville | 14 9 10 26 | Macon | 13 20 11 42 | SelmaColumbus | 17 16 19 537 14 12 29 | AllentownCapacity(barrels) | 22 16 18 3865 80 105 | Math Tutorial 1 Lil-Help.com 1. I treat this problem similar to a transportation problem for optimization. In this case we want to find routes which will minimize the cost of transportation of the 6 plants to the 3 waste disposal sites. The following table represents cost and capacity. for the above table let, quantity of waste transported from the plant to the waste center, where hence we want to minimize the objective function which is subject to the following constraints, All products provided by Lil-Help are intended for academic resource and research only. These are not designed to replace student personal work and rules and regulations from schools, colleges, and universities should be applied when using our services. Customers are responsible ...
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...FORCASTING METHODS Math 540 Quantitative Methods Professor: Forecasting Methods Outline Strategic Role of Forecasting in the Corporate World of Business Components of Forecasting Demand Time Series Method Forecasting Accuracy Regression Methods Benefits of Forecasting Benefits of forecasting Forecasting can help you make the right decisions, and earn/save money. Here are a few examples. Define better sale strategies If a product is declining, maybe it is a good idea to consider stop producing it. But maybe not: maybe it is just your sales that are declining, but not your competitor's? In this case, is there a chance that you can get your market share back? Forecasting techniques provide answers to these questions – vital questions to your business. Size your inventories optimally Time is money. Room is money. So what you want to do is use all means at your disposal in order to reduce your stocks – without experiencing any shortages, of course. Forecasting Components Short-Range Forecast Daily operations Medium-range Forecast Used from anywhere from a month up to 1 year Long-range Forecasting More strategic and for over a year Forecast Patterns Trend A gradual long-term up or down movement of demand Random variations Unpredictable movements in demand that follow no pattern Cycle An up and down repetitive movement in demand Seasonal pattern An up and down repetitive movement within a trend occurring periodically ...
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...An overview presented by Margie Dominguez MAT 540 August 10, 2013 1 Slide Background Mix 3 4 5 6 7 8 9 10 2 Modeling Predictive Modeling Genius Forecasting Inventory Forecasting Simulations Modeling Decision Tree Conclusion Many companies and businesses use forecasting. Whether its to predict sales growth, consumer demand, profit or plan production, management wants to know how to proceed in making an informed decision about the future. This presentation will examine some of today’s most popular forecasting models by highlighting how leading companies are putting them to use. 3 Mix modeling – Marketing strategy Mix modeling can help with marketing strategies by measuring the potential value of all market input and marketing investments. The goal is a long-term revenue growth. Mix modeling’s multiple-regression technique is conducted based on the number of inputs and how these inputs relate to an outcome. The data that go into creating a marketing mix model includes: • Economic data • Industry data • Category data • Advertising data (including copy testing) Promotional data Competitive data Service data • Product data- Pricing data, Features & performance • Market outcome data- sales, revenue, profits Reference: http://www.decisionanalyst.com/Services/MarketingMixModeling.dai 4 Predictive Modeling for Consumer Demand forecast Predictive modeling is an effective forecasting model for consumer demand. The...
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...MAT 540 Quiz Answers 1) Deterministic techniques assume that no uncertainty exists in model parameters. Answer: TRUE Diff: 1 Page Ref: 489 Main Heading: Types of Probability Key words: deterministic techniques 2) Probabilistic techniques assume that no uncertainty exists in model parameters. Answer: FALSE Diff: 1 Page Ref: 489 Main Heading: Types of Probability Key words: probabilistic techniques 3) Objective probabilities that can be stated prior to the occurrence of an event are classical or a priori. Answer: TRUE Diff: 2 Page Ref: 489 Main Heading: Types of Probability Key words: objective probabilities, classical probabilities 4) Objective probabilities that are stated after the outcomes of an event have been observed are relative frequencies. Answer: TRUE Diff: 2 Page Ref: 489 Main Heading: Types of Probability Key words: relative frequencies 5) Relative frequency is the more widely used definition of objective probability. Answer: TRUE Diff: 1 Page Ref: 490 Main Heading: Types of Probability Key words: relative frequencies 6) Subjective probability is an estimate based on personal belief, experience, or knowledge of a situation. Answer: TRUE Diff: 2 Page Ref: 490 Main Heading: Types of Probability Key words: subjective probability 7) An experiment is an activity that results in one of several possible outcomes. Answer: TRUE Diff: 1 Page Ref: 491 Main Heading: Fundamentals of Probability Key words: experiment ...
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...Week 9 Quiz 5: 1. In a _______ integer model, some solution values for decision variables are integer and others can be non-integer. a. total b. 0 – 1 c. mixed d. all of the above 2. In a total integer model, some solution values for decision variables are integer and others can be non-integer. TRUE/FALSE 3. In a problem involving capital budgeting applications, the 0-1 variables designate the acceptance or rejection of the different projects. TRUE/FALSE 4. If a maximization linear programming problem consist of all less-than-or-equal-to constraints with all positive coefficients and the objective function consists of all positive objective function coefficients, then rounding down the linear programming optimal solution values of the decision variables will ______ result in a(n) _____ solution to the integer linear programming problem. A) always, optimal B) always, non-optimal C) never, non-optimal D) sometimes, optimal E) never, optimal 5. The branch and bound method of solving linear integer programming problems is an enumeration method. TRUE/FALSE 6. In a mixed integer model, all decision variables have integer solution values. TRUE/FALSE 7. For a maximization integer linear programming problem, feasible solution is ensured by rounding _______ non-integer solution values if all of the constraints are less-than -or equal- to type. A) up and down B) up C) down D) up or down 8. In a total integer model, all...
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