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business analytics data

Questions and Answers of Business Analytics Data

15. Modify the plant location model in Chapter 15 (Example 15.10) to use IF statements to express the linking constraints in the mixed-integer model formulation.Modify the spreadsheet and solve with
14. The Hal Chase Investment Planning Agency is in business to help investors optimize their return from investment. Hal deals with three investment mediums: a stock fund, a bond fund, and his own
13. For the DTP Corporation data in Example 16.6, fit a second-order polynomial function to model the profit for each product. Use these functions to find the optimal advertising allocation with the
12. Many manufacturing situations, for example, the production of such large and complex items as aircraft or machines, exhibit a learning effect in which the production time per unit decreases as
11. In Chapter 9 we noted that the least squares coefficients in a regression model are found by minimizing the sums of squares of the errors as given in equation(9.4). This is a nonlinear
10. A manufacturer stocks four items, each requiring a certain amount of floor space in the warehouse. A limited number of square feet of floor space is available to store the total quantity of the
9. The Economic Order Quantity (EOQ) model is based on ordering only a single item. Suppose we allow for multiple items that are independent except for a budget restriction. Develop a model to
8. The annual demand for the bolt-nut package for the aircraft manufacturer Excel database Purchase Orders (see Example 1.3 in Chapter 1) is 60,000. The fixed cost of placing an order is $50 and the
7. ElectroMart wants to identify a location for a warehouse that will ship to five retail stores. The coordinates and annual number of truckloads are given here.Develop and solve a model to find the
6. A franchise of a chain of Mexican restaurants wants to determine the best location to attract customers from three suburban neighborhoods. The coordinates of the three suburban neighborhoods are
5. In the Marquis Hotel problem in Example 16.2, suppose that the hotel is considering adding suites to its room mix. Based on an analysis of local competitors, suites can sell for a rate of $180,
4. For the pricing decision model in Example 16.1, suppose that the company wants to keep the price at a maximum of $500. Note that the solution in Figure 16.1 will no longer be feasible. Modify the
3. Problem 5 in Chapter 8 posed the following situation: The Radio Shop sells two popular models of portable sport radios, model A and model B. The sales of these products are not independent of each
2. Problem 14 in Chapter 1 posed the following situation: The demand for airline travel is quite sensitive to price. Typically there is an inverse relationship between demand and price; when price
1. Problem 13 in Chapter 1 posed the following situation: A manufacturer of mp3 players is preparing to set the price on a new model. Demand is thought to depend on the price and is represented by
• Formulate and solve sequencing and scheduling models using Solver’s alldifferent constraint.
• Identify non-smooth optimization models and when to use Evolutionary Solver.
• Recognize a quadratic optimization model.
• Use empirical data and line-fitting techniques in nonlinear optimization.
• Interpret Solver reports for nonlinear optimization.
• Develop and solve nonlinear optimization models for different applications.
• Recognize when to use nonlinear optimization models.
20. Tindall Bookstores is a major national retail chain with stores located principally in shopping malls.3 For many years, the company has published a Christmas catalog that was sent to current
19. The Spurling Group is considering using magazine outlets to advertise their online Web site. The company has identified seven publishers. Each publisher breaks down its subscriber base into a
18. Chris Corry has a company-sponsored retirement plan at a major brokerage firm.He has the following funds available:Fund Risk Type Return 1 High Stock 11.98%2 High Stock 13.18%3 High Stock 9.40%4
17. Premier Paints supplies to major contractors. One of their contracts for a specialty paint requires them to supply 750, 500, 400, and 950 gallons over the next 4 months.To produce this paint
16. For the Shafer Office Supplies problem (Problem 13 in Chapter 14), suppose that the company wants to enforce a single sourcing constraint that each retail store be served only from one
15. For the General Appliance Corporation transportation model discussed in Chapter 14, suppose that the company wants to enforce a single sourcing constraint that each retail store be served from
14. Soapbox is a local band that plays classic and contemporary rock. The band members charge $600 for a 3-hour gig. They would like to play at least 30 gigs per year but need to determine the best
13. Josh Steele manages a professional choir in a major city. His marketing plan is focused on generating additional local demand for concerts and increasing ticket revenue and also gaining attention
12. Anya is a part-time business student who works full time and is constantly on the run.She recognized the challenge of eating a balanced diet and wants to minimize cost while meeting some basic
11. Dannenfelser Design works with clients in three major project categories: architecture, interior design, and combined. Each type of project requires an estimated number of hours for different
10. A software-support division of Blain Information Services has eight projects that can be performed. Each project requires different amounts of development time and testing time. In the coming
9. Riesemberg Medical Devices is allocating next year’s budget among its divisions.As a result, the R&D Division needs to determine which R&D projects to fund.Each project requires various software
8. The personnel director of Hatch Financial. which recently absorbed another firm, is now downsizing and must relocate five information systems analysts from recently closed locations.
7. Gales Products manufactures ribbon for thermal transfer printing, which transfers ink from a ribbon onto paper through a combination of heat and pressure. Different types of printers use different
6. Van Nostrand Hospital must schedule nurses so that the hospital’s patients are provided with adequate care. At the same time, in the face of tighter competition in the health care industry,
5. For the Brewer Services scenario described in this chapter, suppose that 11 permanent employees are hired. Find an optimal solution to minimize the number of part-time employees he needs to hire.
4. Solve the media selection model in Problem 3 of Chapter 21 with the restriction that the number of ads placed must be integer. Compare your solution with the linear optimization solution.
3. Solve the Rosenberg Land Development model in Problem 2 of Chapter 14 with the restriction that the number of units built must be integer. Compare your solution with the linear optimization
2. Solve the J&M Manufacturing model in Chapter 14 to ensure that the number of units produced is integer valued. How much difference is there between the optimal integer solution and the linear
1. Solve the D. A. Branch & Sons model in Chapter 14 to ensure that the investments are integer valued. How much difference is there between the optimal integer solution and the linear optimization
• Develop and solve mixed-integer optimization models such as facility location and fixed-cost models.
• Formulate and solve optimization models with binary variables and logical constraints.
• Find alternative optimal solutions to integer optimization models.
• Develop integer optimization models for practical applications such as workforce scheduling and location.
• Incorporate integer variables into Solver models.
• Recognize when to use integer variables in optimization models.
25. Beverly Ann Cosmetics has created two new perfumes: Summer Passion and Ocean Breeze. It costs $5.25 to purchase the fragrance needed for each bottle of Summer Passion and $4.70 for each bottle of
24. Worley Fluid Supplies produces three types of fluid-handling equipment: control valves, metering pumps, and hydraulic cylinders. All three products require assembly and testing before they can be
23. Fruity Juices, Inc., produces five different flavors of fruit juice: apple, cherry, pomegranate, orange, and pineapple. Each batch of product requires processing in three departments (blending,
22. Klein Industries manufactures three types of portable air compressors: small, medium, and large, which have unit profits of $20.50, $34.00, and $42.00, respectively.The projected monthly sales
21. Marketing managers have various media alternatives, such as radio, TV, magazines, etc., in which to advertise and must determine which to use, the number of insertions in each, and the timing of
20. Jason Wright is a part-time business student who would like to optimize his financial decisions. Currently, he has $16,000 in his savings account. Based on an analysis of his take-home pay,
19. An international graduate student will receive a $28,000 foundation scholarship and reduced tuition. She must pay $1,500 in tuition for each of the autumn, winter, and spring quarters, and $500
18. Raturi and Rao, Inc., produces four industrial chemicals with variable production costs of $9.00, $6.75, $5.25, and $7.50 per pound, respectively. Because of increasing supplier costs, the
17. Mirza Manufacturing makes four electronic products, each of which comprises three main materials: magnet, wiring, and casing. The products are shipped to three distribution centers in North
16. The Hansel Corporation, located in Bangalore, India, makes plastics materials that are mixed with various additives and reinforcing materials before being melted, extruded, and cut into small
15. Sandford Tile Company makes ceramic and porcelain tile for residential and commercial use. They produce three different grades of tile (for walls, residential flooring, and commercial flooring),
14. Roberto’s Honey Farm in Chile makes five types of honey: cream, filtered, pasteurized, mélange (a mixture of several types), and strained, which are sold in 1-kilogram or 0.5-kilogram glass
13. Shafer Office Supplies has four distribution centers, located in Atlanta, Lexington, Milwaukee, and Salt Lake City, and ships to 12 retail stores, located in Seattle, San Francisco, Las Vegas,
12. Liquid Gold, Inc., transports radioactive waste from nuclear power plants to disposal sites around the country. Each plant has an amount of material that must be moved each period. Each site has
11. Kelly Foods has two plants and ships canned vegetables to customers in four cities.The cost of shipping one case from a plant to a customer is given in the following table.Plant/Customer Chicago
10. Janette Douglas is coordinating a bake sale for a nonprofit organization. The organization has acquired $2,200 in donations to hold the sale. The following table shows the amounts and costs of
9. A recent MBA graduate, Dara, has gained control over custodial accounts that her parents had established. Currently, her money is invested in four funds, but she has identified several other funds
8. Jaycee’s department store chain is planning to open a new store. It needs to decide how to allocate the 100,000 square feet of available floor space among seven departments.Data on expected
7. The Children’s Theater Company is a nonprofit corporation managed by Shannon Board. The theater performs in two venues: Kristin Marie Hall and the Lauren Elizabeth Theater. For the upcoming
6. Holcomb Candles, Inc., manufactures decorative candles and has contracted with a national retailer to supply a set of special holiday candles to its 8,500 stores.These include large jars, small
5. Young Energy operates a power plant that includes a coal-fired boiler to produce steam to drive a generator. The company can purchase different types of coals and blend them to meet the
4. The International Chef, Inc., markets three blends of oriental tea: premium, Duke Grey, and breakfast. The firm uses tea leaves from India, China, and new domestic California sources.Tea Leaves
3. Korey is a business student at State U. She has just completed a course in decision models, which had a midterm exam, a final exam, individual assignments, and class participation. She earned an
2. Rosenberg Land Development (RLD) is a developer of condominium properties in the Southwest United States. RLD has recently acquired a 40.625-acre site outside Phoenix, Arizona. Zoning restrictions
1. Classify the following descriptions of constraints as bounds, limitations, requirements, proportional relationships, or balance constraints:a. Each serving of chili should contain a quarter pound
• Ensure that assumptions underlying the use of sensitivity information hold when interpreting Solver reports.
• Use auxiliary variables to model bound constraints and obtain more complete sensitivity information.
• Correctly interpret the Solver Sensitivity report for models that have bounded variables.
• Use Excel to evaluate scenarios for linear optimization models and gain practical insights into the solutions.
• Build linear optimization models for a variety of applications.
• Describe the different categories of constraints that are typically used in optimization models.
• State the characteristics of some generic types of linear optimization models.
21. Conduct a Solver parameter analysis for the number of components A available in the Valencia Products model in Problem 1. Define the parameter range from 4,000 to 4,500 in increments of 100.
20. Conduct a Solver parameter analysis for the unit profit of Deercrest skis in the SSC model. Define the parameter range from $65 to $80 in increments of $5.
19. Figure 13.33 shows the Solver sensitivity report for the investment scenario in Problem 4. Using only the information in the sensitivity report, answer the following questions.a. How much would
18. Figure 13.32 shows the Solver sensitivity report for the Burger Office Equipment scenario in Problem 3. Using only the information in the sensitivity report, answer the following questions.a.
17. Figure 13.31 shows the Solver sensitivity report for the ColPal Products scenario in Problem 2. Using only the information in the sensitivity report, answer the following questions.a. Suppose
16. Figure 13.30 shows the Solver sensitivity report for Valencia Products in Problem 1. Using only the information in the sensitivity report, answer the following questions.a. Explain why the
15. Figure 13.29 shows the sensitivity report after solving the Crebo Manufacturing model (Example 13.12) using Solver. Using only the information in the sensitivity report, answer the following
14. For the investment situation in Problem 4, apply the same logic as we did for the Crebo Manufacturing model in the text to find the optimal solution. Compare your answer with the Solver solution.
13. For ColPal Products in Problem 2, modify the data in the model to create a problem with each of the followinga. alternative optimal solutionsb. an unbounded solutionc. infeasibility
12. For Valencia Products in Problem 1, modify the data in the model to create a problem with each of the following.a. alternative optimal solutionsb. an unbounded solutionc. infeasibility
11. For the Burger Office Equipment model in Problem 3, graph the constraints and identify the feasible region. Then identify each of the corner points and show how increasing the objective function
10. For ColPal model in Problem 2, graph the constraints and identify the feasible region. Then identify each of the corner points and show how increasing the objective function value identifies the
9. For the Valencia Products model in Problem 1, graph the constraints and identify the feasible region. Then identify each of the corner points and show how increasing the objective function value
8. Implement the linear optimization model that you developed for the investment scenario in Problem 4 in Excel and use Solver to find an optimal solution. Save the Answer and Sensitivity reports in
7. Implement the linear optimization model that you developed for Burger Office Equipment in Problem 3 in Excel and use Solver to find an optimal solution. Interpret the Solver Answer report and
6. Implement the linear optimization model that you developed for ColPal Products in Problem 2 in Excel and use Solver to find an optimal solution. Interpret the Solver Answer report and identify the
5. Implement the linear optimization model that you developed for Valencia Products in Problem 1 in Excel and use Solver to find an optimal solution. Interpret the Solver Answer report and identify
4. A business student has $2,500 available from a summer job and has identified three potential stocks in which to invest. The cost per share and expected return over the next 2 years is given in the
3. Burger Office Equipment produces two types of desks, standard and deluxe. Deluxe desks have oak tops and more-expensive hardware and require additional time for finishing and polishing. Standard
2. A brand manager for ColPal Products must determine how much time to allocate between radio and television advertising during the next month. Market research has provided estimates of the audience

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