ISDS 361B Homework 6 Problem 1. [10 pts.] Alpine Attic is the charity sponsored by local Episcopal churches in Denver, Colorado. Literally thousands of items, including televisions and stereos, are donated each year, most in need of repair. When Alpine Attic receives either a television or a stereo, it determines whether it can be sold “as is” or should be scrapped for parts. Those not sold “as is” are sent directly to JKL Electronics, whose owner, John K. Lucas, is a deacon at St. Paul’s
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Chapter 7 Linear Programming: Maximization Models © 2008 Prentice-Hall, Inc. Introduction Many management decisions involve trying to make the most effective use of limited resources Machinery, labor, money, time, warehouse space, raw materials Linear programming (LP) is a widely used mathematical modeling technique designed to help managers in planning and decision making relative to resource allocation Belongs to the broader field of mathematical programming In this sense, programming
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Week 8 Assignment MAT 540 Name Instructor Name Date Problem Introduction The owner of Chips etc. produces 2 kinds of chips: Lime (L) and Vinegar (V). He has a limited amount of the 3 ingredients used to produce these chips available for his next production run: 4600 ounces of salt, 9400 ounces of flour, and 2200 ounces of herbs. A bag of Lime chips requires 1.5 ounces of salt, 5 ounces of flour, and 2 ounces of herbs to produce; while a bag of Vinegar chips requires 4 ounces of salt, 6 ounces
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Chapter 2 Introduction to Optimization & Linear Programming 1. If an LP model has more than one optimal solution it has an infinite number of alternate optimal solutions. In Figure 2.8, the two extreme points at (122, 78) and (174, 0) are alternate optimal solutions, but there are an infinite number of alternate optimal solutions along the edge connecting these extreme points. This is true of all LP models with alternate optimal solutions. 2. There is no guarantee that the optimal solution
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0.10 VaR 0.08 Density CVaR 0.06 0.00 -15 0.02 0.04 -10 -5 daily return 0 5 10 R Tools for Portfolio Optimization 3 Outline Mean-Variance Portfolio Optimization quadratic programming tseries, quadprog Conditional Value-at-Risk Optimization linear programming Rglpk_solve_LP package General Nonlinear Optimization Differential Evolution Algorithm DEoptim package Omega Optimization
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For a profit maximization problem, if the allowable increase for a coefficient in the objective function is infinite, then profits are unbounded. T . MULTIPLE CHOICE – clearly indicate your response. 1. For a linear programming problem, assume that a given resource has not been fully used. In other words, the slack value associated with that resource constraint is positive. We can conclude that the shadow price associated with that constraint: A. will have a positive
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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?
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Page 3 2. Problem Statement Page 3 3. Performance Measures and Trade-Offs Page 4 4. Assumptions Page 5 5. Iterative Plan Page 5 5.1. Integer Programming Model Page 5 5.2. Integer Programming Model Considering Overtime Page 6 5.3. Integer Programming Model Considering Hiring/Firing Page 7 6. Conclusion Page 9 1. Introduction In this case study, production planning of MacPherson Refrigeration Limited (MRL) for
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are going to use transportation model. However, before starting the solution a brief description of the model will be illustrated as follow: Transportation Problem Many practical problems in operations research can be broadly formulated as linear programming problems, for which the simplex this is a general method and cannot be used for specific types of problems like, (i) transportation models, (ii) transshipment models and (iii) the assignment models. The above models are also
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she can use the profit from the previous game to supply funds for the food in the future. A) Evaluate the prospect of borrowing money before the first game. If Julia borrowed money it would increase her profit. The dual value from the linear programming model is $1.50 for each additional model. From the table, you can see that the upper limit is $1,658.88. This translates that she should only borrow $158.88, which is formulated by $1,658.88- $1,500.00 (her original investment money). Her
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