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an introduction to management science

Questions and Answers of An Introduction to Management Science

A manufacturer produces stationeries—binder clips, pencils, erasers, and sharpeners—and packs them in boxes. A box of binder clips will have 12 pieces of binding clips; a pencil box, 12 pencils;
Tracy McCoy has committed to the local PTA to make some items for a bake sale on Saturday. She has decided to make some combination of chocolate cakes, loaves of white bread, custard pies, and sugar
The manager of a fast food restaurant at the Heathrow Airport wants to determine how many sandwiches and bread-omelettes to prepare for customers. These foods require the following ingredients.The
United Aluminum Company of Cincinnati produces three grades (high, medium, and low) of aluminum at two mills. Each mill has a different production capacity (in tons per day) for each grade, as
A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product requires two resources are as follows:a. Formulate a linear programming model to
The following model was solved graphically in Chapter 2 (Problem 18):maximize Z = 5x1 + 8x2 (+, profit)subject to 3x1 + 5x2 … 50 (units, resource 1)2x1 + 4x2 … 40 (units, resource 2)x1 … 8
Solve the following linear programming model graphically: minimize Z=5x1 + x2 subject to 3x1 + 4x2 = 24 x6 x1 + 3x2 12 xx20
Solve the following linear programming model graphically: minimize Z=3x+6x2 subject to 3x + 2x2 18 x1+x25 x 4 x2/x = 7/8 xx20
Solve the following linear programming model graphically: minimize Z=8x+6x2 subject to 4x + 2x2 = 20 -6x + 4x2 12 x1 + x26
Solve the following linear programming model graphically: maximize Z=6.5x + 10x2 subject to 2x + 4x2 40 x1 + x2 15 x 8
Solve the following linear programming model graphically: maximize Z 5x1 + 8x2 subject to 3x + 5x250 2x + 4x2 = 40 x8 X2 10
A metal shop fabricates windows and doors to construction companies. To fabricate these, the shop uses iron, glass, and labor. The company has 80 units of standard size iron, 60 square feet of glass,
The dean of the college of business at Tech has initiated a fund-raising campaign. One of the selling points he plans to use with potential donors is that increasing the college’s private endowment
The manager of the Bayville police department motor pool wants to develop a forecast model for annual maintenance on police cars, based on mileage in the past year and age of the cars. The following
In Problem 44, Infoworks believes its printer sales are also related to the average price of its printers. It has collected historical data on average printer prices for the past 10 years, as
Tech administrators believe their freshman applications are influenced by two variables: tuition and the size of the applicant pool of eligible high school seniors in the state. The following data
The State of Virginia has instituted a series of standards of learning (SOL) tests in math, history, English, and science that all high school students must pass with a grade of 70 before they are
The admission data for freshmen at Tech during the past 10 years are as follows:Year Applicants Offers Offers (%) Acceptances Acceptances (%)1 13,876 11,200 80.7 4,112 36.7 2 14,993 11,622 77.8 4,354
The Port of Savannah is considering an expansion of its container terminal. The port has experienced the following container throughput during the past 12 years, expressed as TEUs(i.e., 20-foot
The Valley United Soccer Club has boys’ and girls’ travel soccer teams at all age levels up to 18 years. The club has been successful and grown in popularity over the years; however, an obstacle
The Wellton Fund is a balanced mutual fund that includes a mix of stocks and bonds. Following are the year-end share prices of the fund and Dow Jones Industrial Average (DJIA) for a 20-year
In Problem 50, one of the new products in the GreenClean line that Klorax is ready to introduce is an all-purpose cleaner, and Klorax is attempting to forecast what demand might be like 5 years into
In order to take advantage of the burgeoning public interest in sustainability, Klorax has developed a nonsynthetic line of natural cleaning products called GreenClean. One of the first sustainable
The busiest time of the day at the Taco Town fast-food restaurant is between 11:00 a.m. and 2:00 p.m. Taco Town’s service is very labor dependent, and a critical factor for providing quick service
The consumer loan department at Central Union Bank and Trust wants to develop a forecasting model to help determine its potential loan application volume for the coming year. Because adjustable-rate
Develop an adjusted exponential smoothing forecast model (a = .40 and b = .40) for the data in Problem 46 to forecast seat occupancy and compare its accuracy with the seasonally adjusted model
Arrow Air is a regional East Coast airline that has collected data for the percentage of available seats occupied on its flights for four quarters—(1) January–March, (2) April–June, (3)
Develop an exponential smoothing model with a = .30 for the data in Problem 44 to forecast printer demand in year 11 and compare its accuracy to the linear trend line forecast developed in (a). LO.1
Infoworks is a large computer discount store that sells computers and ancillary equipment and software in the town where State University is located. Infoworks has collected historical data on
The Gametime Hat Company manufactures baseball caps that have various team logos in an assortment of designs and colors. The company has had monthly sales for the past 24 months as follows:Month
Apperson and Fitz is a chain of clothing stores that caters to high school and college students.It publishes a quarterly catalog and operates a Web site that features provocatively attired males and
Employees at Precision Engine Parts Company produce parts according to exact design specifications.The employees are paid according to a piece-rate system, wherein the faster they work and the more
Some members of management of the Fairface Cosmetics Firm believe that demand for its products is related to the promotional activities of local department stores where the cosmetics are sold.
Explain the numerical value of the slope of the linear regression equation in Problem 35. LO.1
Develop a linear trend line model for the freshman applications data at State University in Problem 37.a. Does this forecast appear to be more or less accurate than the linear regression forecast
Administrators at State University believe that decreases in the number of freshman applications that they have experienced are directly related to tuition increases. They have collected the
Compute the coefficient of determination for the data in Problem 35 and explain its meaning. LO.1
The manager of Gilley’s Ice Cream Parlor needs an accurate forecast of the demand for ice cream. The store orders ice cream from a distributor a week ahead; if the store orders too little, it loses
Bell Inc. is a computer company that gets most of its component parts from suppliers in Southeast Asia, who ship to small warehouses called “revolvers” (for revolving inventory) near Bell’s
The DirectCast cable TV company is a national chain that services the small college town that is home to Tech, with a student population of almost 30,000. The company has generally been able to
The Tech power plant burns coal and natural gas to generate steam and electricity for all campus buildings. The annual coal consumption at the plant has increased annually for the past 8 years due to
Suntrek is a global manufacturer and supplier of denim jeans to apparel retailers around the world. It purchases baled cotton around the world, ships it to its denim fabric factories, then to its
Bernice’s Pizza Restaurant opened the previous year and in addition to sit-down restaurant service they filled take-out orders (picked up by customers) and some delivery orders using the owner’s
A group of business students at Tech organized a student club called Prism to develop and disseminate content about business majors through a Web site they created and social media sites. Prism would
Carpet City wants to develop a means to forecast its carpet sales. The store manager believes that the store’s sales are directly related to the number of new housing starts in town. The manager
The manager of the Ramona Inn Hotel near Cloverleaf Stadium believes that how well the local Blue Sox professional baseball team is playing has an impact on the occupancy rate at the hotel during the
The Jersey Dairy Products Company produces cheese, which it sells to supermarkets and foodprocessing companies. Because of concerns about cholesterol and fat in cheese, the company has seen demand
Develop an exponential smoothing forecast with a = .20 for the demand data in Problem 1.Compare this forecast with the 3-month moving average computed in part (a) of Problem 1, using MAD, and
RAP Computers assembles personal computers from generic parts it purchases at a discount, and it sells the units by phone orders it receives from customers responding to the company’s ads in trade
Aztec Industries has developed a forecasting model that was used to forecast during a 10-month period. The forecasts and actual demand were as follows:Month Actual Demand Forecast Demand 1 160 170 2
The emergency room at the new Community Hospital selected every other week during the past 5 months to observe the number of patients during two parts of each week—the weekend (Friday through
Develop an adjusted exponential smoothing forecast (a = .30, b = .20) for the annual pool attendance data in Problem 20. Does this forecast appear to be more or less accurate than the linear trend
The Hillsboro Aquatic Center has an indoor pool with lanes for lap swimming and an open area for recreational swimming and various exercise and water aerobics programs. From June to mid-August it
Metro Food Vending operates vending machines in office buildings, the airport, bus stations, colleges, and other businesses and agencies around town, and it operates vending trucks for building and
The Northwoods Outdoor Company is a catalog sales operation that specializes in outdoor recreational clothing. Demand for its items is very seasonal, peaking during the Christmas season and during
The Beaver Creek Pottery Company sells bowls and mugs, hand-made by Native American artisans, at a craft store and through a Web site. Making these items requires a special type of clay and a large
The River is a literary magazine published by the English Department at Tech. It has a 70-year history and enjoys an excellent reputation for providing a literary outlet for aspiring Appalachian
The Cat Creek Mining Company mines and ships coal. It has experienced the following demand for coal during the past 8 years:Year Coal Sales (tons)1 4,260 2 4,510 3 4,050 4 3,720 5 3,900 6 3,470 7
Monaghan’s Pizza delivery service has randomly selected 8 weekdays during the past month and recorded orders for pizza at four different time periods per day:Day Time Period 1 2 3 4 5 6 7 8 10:00
Develop a seasonally adjusted forecast for the demand data for fertilizer found in Problem 3.Then use a linear trend line model to compute a forecast estimate for demand in year 4. LO.1
For the demand data in Problem 11, develop a seasonally adjusted forecast for year 4. (Use a linear trend line model to develop a forecast estimate for year 4.) Which forecast model do you perceive
The Whistle Stop Cafe in Weems, Georgia, is well known for its popular homemade ice cream, made in a small plant in back of the cafe. People drive all the way from Atlanta and Macon to buy the ice
Eurotronics manufactures components for use in small electronic products such as computers, CD players, and radios at plants in Belgium, Germany, and France. The parts are transported by truck to
Emily Andrews has invested in a science and technology mutual fund. Now she is considering liquidating and investing in another fund. She would like to forecast the price of the science and
The Bayside Fountain Hotel is adjacent to County Coliseum, a 24,000-seat arena that is home to the city’s professional basketball and ice hockey teams and that hosts a variety of concerts, trade
The Victory Plus Mutual Fund of growth stocks has had the following average monthly price for the past 10 months:Month Fund Price 1 62.7 2 63.9 3 68.0 4 66.4 5 67.2 6 65.8 7 68.2 8 69.3 9 67.2 10
The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has
The chairperson of the department of management at State University wants to forecast the number of students who will enroll in production and operations management (POM) next semester, in order to
Graph the demand data in Problem 3. Can you identify any trends, cycles, or seasonal patterns? LO.1
The Fastgro Fertilizer Company distributes fertilizer to various lawn and garden shops. The company must base its quarterly production schedule on a forecast of how many tons of fertilizer will be
The manager of the Carpet City outlet needs to make an accurate forecast of the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill,
The Saki motorcycle dealer in the Minneapolis–St. Paul area wants to make an accurate forecast of demand for the Saki Super TXII motorcycle during the next month. Because the manufacturer is in
=1.11. Read the referenced article that fully describes the management science study summarized in the application vignette presented in Section 1.3. Summarize the five major reasons given for why
=1.10. Select three of the applications of management science listed in Table 1.1. For each one, read the article that is referenced in the application vignette presented in the section shown in the
=1.9. Select one of the applications of management science listed in Table 1.1. Read the article that is referenced in the application vignette presented in the section shown in the third column.
=f. Use a spreadsheet model to find the break-even point described in partc. What is the conclusion about what the company should do?
=e. Use an algebraic procedure to find the break-even point described in part c.
=d. Use a graphical procedure to find the break-even point described in part c.
=c. Another way to compare these two options is to find a break-even point for the production and sales volume, below which the buy option is better and above which the make option is better. Begin
=b. Figure 1.4 shows the analysis for the make option.Compare these results with those from part a to determine which option (make or buy) appears to be better.
=a. Use a spreadsheet to display and analyze the buy option. Show the relevant data and financial output, including the total profit that would be obtained by producing and selling 300 grandfather
=1.8. Reconsider the Special Products Company problem presented in Section 1.2.Although the company is well qualified to do most of the work in producing the limited edition grandfather clocks, it
=a. Use spreadsheets to display and analyze Michael’s two options. Which option should be chosen?b. Michael realizes from past experience that preliminary sales forecasts are quite unreliable, so
=1.7. The Water Sports Company soon will be producing and marketing a new model line of motor boats. The production manager, Michael Jensen, now is facing a make-or-buy decision regarding the
=1.6. The Best-for-Less Corp. supplies its two retail outlets from its two plants. Plant A will be supplying 30 shipments next month. Plant B has not yet set its production schedule for next month
=e. Suppose that management fears that the sales forecast may be overly optimistic and so does not want to consider producing more than 200 grandfather clocks. Use the spreadsheet from part d to
=d. Incorporate this mathematical model into a spreadsheet with a sales forecast of 300. Use this spreadsheet model to find the new break-even point, and then determine the production quantity and
=c. State the mathematical model for this problem with the new data.
=b. Use an algebraic procedure to find the new break-even point.
=a. Use a graphical procedure to find the new break-even point.
=1.5. Reconsider the problem facing the management of the Special Products Company as presented in Section 1.2.A more detailed investigation now has provided better estimates of the data for the
=c. How small can the unit revenue be before the grandfather clocks cease to be profitable?
=b. How large can the marginal production cost be before the grandfather clocks cease to be profitable?
=a. How large can the cost of setting up the production facilities be before the grandfather clocks cease to be profitable?
=1.4. A reliable sales forecast has been obtained indicating that the Special Products Company (see Section 1.2) would be able to sell 300 limited edition grandfather clocks, which appears to be
=d. Write a mathematical expression for the constraint that the number produced should not exceed the number that can be sold.
=c. Formulate a spreadsheet that will give the profit in part b for any values of the two numbers.
=b. Now assume that the number that can be sold might be less than the number produced. Write an expression for the profit in terms of these two numbers.
=a. Assuming that every unit of this toy that is produced is sold, write an expression for the profit in terms of the number produced and sold. Then find the break-even point that this number must
=1.3. Management of the Toys R4U Company needs to decide whether to introduce a certain new novelty toy for the upcoming Christmas season, after which it would be discontinued. The total cost

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