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business
an introduction to management science

Questions and Answers of An Introduction to Management Science

A petroleum refinery in Dubai wants to expand its refinery and stock-yard for the expected surge in the oil prices in the coming years. The company has four distinct activities in its strategic
Tech offers a number of off-campus courses in its professional and executive masters of information technology (MIT) programs at various locations around the state. The courses are taught by a group
A healthcare company plans to open its new chain of clinics in seven cities (1 to 7) within its earmarked budget. The population size (in thousands) in cities and associated investment budgets are
“Wins above replacement,” or WAR, is a complex statistical measure of a major league baseball player’s performance that sums up a player’s total contribution to a team using various offensive
Globex Investment Capital Corporation owns six companies that have the following estimated returns (in millions of dollars) if sold in one of the next 3 years:Year Sold(estimated return,
The Kreeger Grocery Store chain has bought out a competing grocery store chain. However, it now has too many stores in close proximity to each other in certain cities. In Roanoke the chain has 10
An investment firm received R120,000 from a client for investment. The firm has identified six options and their expected returns are as given in the following table. Each option needs a minimum
The Tech Software School contracts to train employees of companies in the use of various software products and packages. The training programs are all delivered on three consecutive days but require
A car manufacturer produces cars in five colors: Red, Green, Blue, White, and Yellow. Only one painting machine is available now for painting cars. The machine must be stopped if the machine is
HTM Realty has a storefront rental property in downtown Draperton, a small college town next to the Tech campus. The property encompasses four business spaces that open onto College Avenue. HTM has a
The Valley Times and World News publish and deliver a morning newspaper 7 days a week. The bundled papers are delivered by trucks to a number of area communities where they are picked up by carriers
The BigRig Trucking Company participates in an Internet transportation exchange where customers advertise their shipments including load weight and volume, and trip origin and destination.BigRig then
A state government plans to set up new police stations for the public. The state has seven districts (A through G). Each police station can serve a radius of 30 miles. A district may receive service
Solve the linear programming model in Problem 59 using the computer.a. Which resources constrain how many jobs Guanming can contract for?b. Guanming wants for increase either his working hours per
Solve the linear programming model formulation in Problem 57 using computer.a. Are there any extra (slack) resources available?b. If the manufacturer could obtain additional resources, which one
Solve the linear programming model formulated in Problem 55 for Tracy McCoy.a. Are any of the ingredients left over?b. If Tracy could get more of any ingredient, which should it be? Why?c. If Tracy
Solve the linear programming model formulated in Problem 52 for Exeter Mines by using the computer.a. Do any of the mines have slack capacity? If yes, which one(s)?b. If Exeter Mines could increase
a. In Problem 50, if the pottery company determines that the profit from dining ware was £15 instead of £10, how does that affect the optimal solution?b. If the pottery company could secure
Solve the linear programming model formulated in Problem 48 for Metro Food Services Company by using the computer.a. If Metro Food Services could hire another worker and increase its available
Solve the linear programming model formulated in Problem 46 for Hoke’s Spokes by using the computer.a. Should John Hoke try to increase his budget for purchasing bikes, increase space to stock
a. If Food Max in Problem 44 could increase its shelf space for half-gallon cartons of milk, how much would profit increase per carton?b. If Food Max could get the local dairy to increase the amount
The Food Max grocery store sells three brands of milk in half-gallon cartons—its own brand, a local dairy brand, and a national brand. The profit from its own brand is $0.97 per carton, the profit
a. In Problem 42, the capacity of the college is 3,000 students. If the university plans to increase the capacity of the college to 3,500, should the college accept this expansion? Explain.b. Analyze
Solve the linear programming model formulated in Problem 39 for Island Publishing Company by using the computer.a. How much would it be worth to Island Publishing Company to obtain enough additional
Solve the linear programming model formulation in Problem 39 for Island Publishing Company graphically.a. Determine the sensitivity range for the advertising revenue generated by the real estate
Island Publishing Company publishes two types of magazines on a monthly basis: a restaurant and entertainment guide and a real estate guide. The company distributes the magazines free to businesses,
The following linear programming model formulation is used for the production of four different products, with two different manufacturing processes and two different material requirements:maximize Z
Angie Xu has converted her garage into a greenhouse with long tables where she plans to grow flower plants from seeds to sell in the spring at the downtown market. She will plant two types of flowers
Use the computer to solve Problem 56 from Chapter 2 to determine how many slices of pizza and hot dogs the fraternity must sell to break even on their project to open a food booth at the football
Solve the linear programming model formulated in Problem 31 for Alexis Harrington by using the computer.a. If Alexis decided to invest some of her own savings along with the money from her
Solve the linear programming model formulated in Problem 31 for Alexis Harrington graphically.a. How much would the return for cattle have to increase for Alexis to invest only in cattle?b. Should
Solve the linear programming model formulated in Problem 29 for Xara Stores graphically and by using the computer.a. If the Chinese supplier were able to reduce its percentage of defective pairs of
Solve the linear programming model formulation in Problem 27 for the farmer using computer.a. If the farmer has access to additional 50 acres of land, would it be beneficial for him to use the
A farmer plans to cultivate rice and wheat in his 200 acres of land. To get a decent profit, he has to use at least 150 acres of land. Per the environmental agency’s recommendation, for each acre
Solve the linear programming model formulation in Problem 24 for strawberry lassi using computer.a. Identify the sensitivity ranges for the objective function coefficient and explain what the upper
Solve the linear programming model formulation in Problem 24 for strawberry lassi graphically.a. Indicate the slack and surplus available at the optimal solution point and explain their meanings.b.
Indians drink lassi during the summer because of its cooling properties. It is made from yogurt, and fruit juices are added to have different flavors. Strawberry lassi consists of yogurt and
Solve the linear programming model formulation in Problem 21 for the for London Fashions using computer.a. If the firm could reduce the minimum ad requirements for TV or print media, which should it
Solve the linear programming model formulation in Problem 21 for London Fashions graphically.a. Determine the sensitivity ranges for the cost of TV.b. Does the company give any more print media ads
London Fashions specializes in the design and delivery of apparels. To improve its sales, the company puts ads on TV and print media. TV channels play the video clip of an ad for 60 seconds and
Solve the linear programming model formulation in Problem 18 for the fast food restaurant using computer.a. Identify and explain the shadow prices for each of the resource constraints.b. Which of the
Solve the linear programming model formulation in Problem 18 for the fast food restaurant graphically.a. How many extra breads and eggs are leftover at the optimal solution? Is there any idle labor
Solve the linear programming model formulation in Problem 15 for the Patel brothers using the computer.a. If the authorities allow the brothers to plant a minimum of 20 acres with onion, should they
Solve the linear programming model formulation in Problem 15 for the Patel brothers graphically.a. How many acres of land was cultivated at the optimal solution? Did they use all the land?b. If they
Patel brothers have 50 acres of farmland on the banks of River Ganges. They plan to grow tomatoes and onions. Since onions requires less water, the irrigation authority wants the brothers to
Solve the linear programming model formulated in Problem 12 for United Aluminum Company by using the computer.a. Identify and explain the shadow prices for each of the aluminum grade contract
Solve the linear programming model formulated in Problem 12 for United Aluminum Company graphically.a. How much extra (i.e., surplus) high-, medium-, and low-grade aluminum does the company produce
Solve the linear programming model formulation in Problem 9 for the fitter by using the computer.a. If the fitter can obtain additional hours either to cutter or grinder (but not both), which should
Solve Problem 9 graphically.a. How many hours of the cutter’s time are used? Does it have any leftover time?b. If the fitter is able to reduce the cost of product A from €8 to €6 and product B
Solve Problem 7 using the computer.
Formulate homework Problem 38 in Chapter 1 as a linear programming model, and solve using the computer.
Solve the following model from Chapter 2 (Problem 9) using Excel:maximize Z = 3x1 + 6x2 (+, profit)subject to 3x1 + 2x2 … 18 (units, resource 1)x1 + x2 Ú 5 (units, resource 2)x1 … 4 (units,
Formulate a linear programming model for Problem 37 in Chapter 1 and solve using the computer.How does this solution differ from the solution to Problem 33 in Chapter 1?
Trace or copy the graph of the given function f. (Assume that the axes have equal scales.) Then use the method of Example 1 to sketch the graph of f' below it. yA
Trace or copy the graph of the given function f. (Assume that the axes have equal scales.) Then use the method of Example 1 to sketch the graph of f' below it.
Options are popular instruments in the world of finance. A call option on a stock gives the owner the right to buy the stock at a predetermined price before the expiration date of the option. For
The Corporate Average Fuel Economy (CAFE) regulations were put into law by Congress in 1975 to promote the sale of fuel-efficient automobiles and light trucks. The law requires automakers to boost
Refer to Figure 3.14, which shows the computer solution of Problem 7.a. How much would the return for U.S. Oil have to increase before it would be beneficial to increase the investment in this
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
What will your portfolio be worth in 10 years? In 20 years? When can you stop working? The Human Resources Department at Four Corners Corporation was asked to develop a financial planning model that
A building contractor is preparing a bid on a new construction project. Two other contractors will be submitting bids for the same project. Based on past bidding practices and the requirements of the
South Central Airlines (SCA) operates a commuter flight between Atlanta and Charlotte. The regional jet holds 50 passengers, and currently SCA only books up to 50 reservations. Past data show that
A project has four activities (A, B, C, and D) that must be performed sequentially. The probability distributions for the time required to complete each of the activities are as follows:a. Construct
The Statewide Auto Insurance Company developed the following probability distribution for automobile collision claims paid during the past
Construct a spreadsheet simulation in which each trial consists of rolling of four dice. That is, there are four random variables each with an outcome of 1, 2, 3, 4, 5, or 6. For each trial, record
The management of Madeira Computing is considering the introduction of a wearable electronic device with the functionality of a laptop computer and phone. The fixed cost to launch this new product is
Assume that the project in Problem 3 has the following activity times (in months):a. Find the critical path.b. The project must be completed in 1.5 years. Do you anticipate difficulty in meeting the
An Internet-service provider company uses a fiber-optic network to transmit data between locations. Data are carried through fiber-optic cables and switching nodes. A portion of the
Financial Analysts, Inc., is an investment firm that manages stock portfolios for a number of clients. A new client is requesting that the firm handle an $800,000 portfolio. As an initial investment
Preliminary plans are under way for the construction of a new stadium for a major league baseball team. City officials have questioned the number and profitability of the luxury corporate boxes
Quality Air Conditioning manufactures three home air conditioners: an economy model, a standard model, and a deluxe model. The profits per unit are $63, $95, and $135, respectively. The production
Refer to the computer solution of Problem 12 in Figure 3.17.a. Identify the range of optimality for each objective function coefficient.b. Suppose the profit for the economy model is increased by $6
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 Porsche Club of America sponsors driver education events that provide high-performance driving instruction on actual race tracks. Because safety is a primary consideration at such events, many
Davison Electronics manufactures two models of LCD televisions, identified as model A and model B. Each model has its lowest possible production cost when produced on Davison€™s new
Schneider€™s 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
Gulf Coast Electronics is ready to award contracts to suppliers for providing reservoir capacitors for use in its electronic devices. For the past several years, Gulf Coast Electronics has relied on

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