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managerial decision modeling business analytics with spreadsheet

Questions and Answers of Managerial Decision Modeling Business Analytics With Spreadsheet

Dexter is taking 18 credit hours this semester, and he has 6 final exams on Monday. The first one starts at 8:00 a.m., and they run straight through until the last one is over at 8:00 p.m. It is 3:00
Consider the Greenberg Motors example from section 3.8. Retrieve file Figure 3.14.xlsx, Sheet: Figure 3.14 from the Companion Website. Rerun the model (seen in Figure 3.14) by making all decision
Indicate which of the following constraints are linear (or could be with the appropriate algebraic manipulation). In all cases, A, B, and C are continuous decision variables.(a) 5A + B/C ≤ 100(b)
A company is considering opening new stores in the United States. The potential new locations are contained in the following table, where each binary variable equals 1 if that location gets a new
Suppliers frequently offer quantity discounts to their customers to entice large orders. Consider the following incremental quantity discount schedule.Units ordered ................ Price per
Suppliers frequently offer quantity discounts to their customers to entice large orders. Consider the following all-units quantity discount schedule.Units ordered .................... Price per
A binary variable can be introduced to a mixed integer program to allow for a “threshold constraint.” A threshold constraint says that if any units are used, at least a specified minimum amount
The “knapsack problem” has a long history in operations research. The traditional version has a hiker getting ready to go camping, and she needs to determine which items to carry in her knapsack.
Binary variables can be used to provide a choice of RHS values for a constraint. For example, perhaps the amount of beer produced must fit into a 6-pack, a 12-pack, or a 24-pack. If there are T
A binary variable can be used to ensure that at least one out of two constraints must be satisfied, but not necessarily both. Define Y as a binary variable and incorporate it into the constraints
The “traveling salesperson problem” has a long history in operations research. A traveling salesperson must visit each of n cities exactly once, minimizing the total cost of travel and returning
Which of the following are NLP models, and why? Are any of these quadratic programming models? Assume that all variables are nonnegative in all problems.(a)(b)(c)(d) Maximize profit = 3X, +5X, +99X,
What does it mean to rank goals in GP? How does this affect the problem’s solution?
What are deviation variables? How do they differ from decision variables in traditional LP problems?
What is meant by satisficing, and why is the term often used in conjunction with GP?
Provide your own examples of five applications of IP.
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard shortest path problem with 8 nodes, where the objective is to find the shortest path
In what ways do you think that corporations or governments could abuse their access to big data? What types of safeguards can governments, corporations, and individuals implement to try to mitigate
What is implementation, and why is it important?
St. Joseph’s School has 1,200 students, each of whom pays $8,000 per year to attend. In addition to revenues from tuition, the school receives an appropriation from the church to sustain its
(a) Modify the Millers’ Tax Computation program in Figure 1.2 to include the next higher tax bracket: 28% for earnings between $153,101 and $233,350.(b) Suppose that Sue’s estimated income is now
(a) Modify the Millers’ Tax Computation program in Figure 1.2 to include a tax deduction for educator expenses.(b) Next modify the program to account for a growing family. In particular, instead of
Create an Excel model to provide the answer for Problem 1–19.Problem 1–19A website has a fixed cost of $15,000 per day. The revenue is $0.06 each time the website is accessed. The variable cost
Suppliers frequently provide quantity discounts to customers who place large orders. An all-units quantity discount applies a discount to all units purchased once the applicable price breaks have
Suppliers frequently provide quantity discounts to customers who place large orders. An incremental quantity discount provides a discount to all units purchased beyond the applicable price breaks,
Consider a machine that fills bottles with beer. Output is known to be normally distributed with a standard deviation σ of 0.2 ounces. The bottle labels state that the bottles contain 10 ounces of
What are the components of defining a problem in Excel so that it can be solved using Solver?
What is the optimal solution (X, Y, Z) to the following linear program? You should be able to solve this question by inspection, i.e., without graphing or using Excel.Max 2X + 4Y + 6Zsubject to the
Consider the following constraints from a two-variable linear program.(1) X ≥ 0(2) Y ≥ 0(3) 10X + 4Y ≤ 110(4) 5X − Y ≤ 90If constraints (2) and (3) are binding, what is the optimal solution
Solve the following LP problem by using the graphical procedure and by using Excel:Minimize cost = 4X + 7Y subject to the constraints3X + 6Y ≥ 10010X + 2Y ≥ 1602Y ≥ 402X ≤ 75X, Y ≥ 0
The Coastal Tea Company sells 60-pound bags of blended tea to restaurants. To be able to label the tea as South Carolina Tea, at least 55% of the tea (by weight) in the bag must be Carolina grown.
A small manufacturer makes two types of motors, models A and B. The assembly process for each is similar in that both require a certain amount of wiring, drilling, and assembly. Each model A takes 3
Find the intersection of each of the following sets of constraints.(a) 10X + 8Y = 800 and X + 4Y = 100(b) 2X + 4Y ≤ 28 and 3X – 12Y ≥ 6(c) 4X + 9Y ≤ 180 and 8X + 2Y ≤ 240(d) 4X – 7Y ≥
Consider the linear programming formulation below. Which constraint is redundant?Maximize profit = 4X + 4Ysubject to the constraints6X + 4Y ≤ 1203X + 8Y ≤ 1202X + 2.5Y ≤ 100X, Y ≥ 0
Consider the linear programming formulation below, where X and Y represent units of production of two different products. As currently written, the formulation is infeasible. The formulation can
Consider the linear programming formulation below.Minimize cost = 5X + 4Ysubject to the constraints5X + 4Y ≥ 2004X + 6Y ≥ 3608X + 4Y ≤ 160X ≥
Consider the linear programming formulation below.Maximize profit = 50X + 42Ysubject to the constraints5X − 4Y ≤ 200X ≤ 60Y ≥ 10X, Y ≥ 0(a) Try to solve the problem in Excel. What error
Solve the following LP problem by using the graphical procedure and by using Excel:Maximize 40X + 50Ysubject to the constraintsX + 2Y ≤ 804X + 3Y ≤ 240X ≤ 51X, Y ≥ 0
Consider the linear programming formulation below.Maximize 9T + 10S + 2Psubject to the constraintsT + S + P = 6S ≥ 3T ≥ 1P ≤ 3T, S, P ≥ 0This is a linear program with 3 variables. Rewrite
Solve the following LP problem, which involves three decision variables, by using Excel:Minimize cost = 10.50X + 4.60Y + 12.20Zsubject to the constraints5X + 4Y ≥ 2004X − 6Y + 8Z ≥ 360X ≤
Modify the Holiday Meal Turkey Ranch Problem in Figure 2.22 to include a third brand (Brand C). Brand C feed costs $0.12 per pound. Each pound of Brand C feed contains 12 protein units, 2 vitamin
Solve the following LP problem, which involves four decision variables, by using Excel:Maximize profit = 210A + 400B + 320C + 280Dsubject to the constraints5A + 14B + 6C + 8D ≤ 200A ≥ 10B ≤
A manufacturer of travel pillows must determine the production plan for the next production cycle. He wishes to make at least 300 of each of the three models that his firm offers and no more than
Consider the Win Big Gambling Club media selection problem in Section 3.3 (Figure 3.4). In that formulation, we maximized audience coverage subject to an advertising budget constraint (plus other
College freshman Jon Jackson wants to plan his Saturday night schedule for the next three weekends. In particular, he wants to determine what to do between 8:00 p.m. until 2:00 a.m. each Saturday
Pullman Tire Company would like to plan production for the next three months. The firm can satisfy demand by using inventory, regular production (at $40 per tire), overtime (at $50 per tire), or
The Marketing Club on campus sells three popular mixed soda drinks on campus to raise funds. The drinks are simple mixed blends of pure flavors of grape, orange, and cherry soda. “Starburst”
Some countries impose “local content rules” on products manufactured in their country to try to stimulate the use of local suppliers and presumably to help the local economy. Global Industries,
The Good-to-Go Suitcase Company makes three kinds of suitcases: (1) Standard, (2) Deluxe, (3) Luxury styles. Each suitcase goes through four production stages: (1) Cutting
Consider Figure 4.20, which shows the Sensitivity Report for the Burn-Off Diet Drink example in Section 4.7. For each of the situations described below, check to see if the 100% rule can be used to
Consider Figure 4.11, which shows the Sensitivity Report for the Flair Furniture Company example in Section 4.3. By examining this figure and the LP formulation, can you compute by hand the optimal
Consider Figure 4.16, which shows the Sensitivity Report for the Anderson Home Electronics example in Section 4.4. Use the Sensitivity Report to answer the following questions, if possible. Each
Consider the Flair Furniture example from Sections 4.2 and 4.3. Suppose that the company is considering the option of making stools in addition to its tables and chairs. Stools take 1 hour of
Consider Figure 4.22 from the Hong Kong Bank labor planning example presented in Solved Problem 4–1. Suppose that every day between 11:00 a.m. and noon, two tellers’ worth of demand comes from
Consider Figure 4.22 from the Hong Kong Bank labor-planning example presented in Solved Problem 4–1. What would be the impact on daily cost if corporate policy changed to allow the part-time hours
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard transportation problem with 5 origins and 4 destinations.
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard transshipment problem with 2 origins, 3 transshipment nodes, and 3 destinations.
Managers sometimes make the mistake of trying to solve an assignment problem by hand by assigning workers to jobs according to a “best rating next” myopic decision rule, where the next assignment
Create a template in Excel, including all of the appropriate Solver settings, that would accommodate a standard assignment problem with 6 people to be assigned to 6 jobs to maximize effectiveness.

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