2. Assume that you are planning to open a perfume Shop by taking loan from bank. The shop requires a minimum of carpet area of 25 m2. The monthly rent for each ma is 12 rials per month. Choose any four brands of perfumes you can sell in your shop. A box of 50 bottles in every brand requires 0.25 m of carpet area. The purchase cost of 500 bottles of the cheapest brand perfume is equal to two months shop rent. Cost of each next cheapest model brand 1. Trace the history of Operations research (Quantitative method). Define linear programming model, and briefly explain its assumptions, limitations and scope to various industries. (10 Marks) 2. Assume that you are planning to open a perfume Shop by taking loan from bank. The shop requires a minimum of carpet area of 25 m2. The monthly rent for each ma is 12 rials per month. Choose any four brands of perfumes you can sell in your shop. A box of 50 bottles in every brand requires 0.25 m of carpet area. The purchase cost of 500 bottles of the cheapest brand perfume is equal to two months shop rent. Cost of each next cheapest model brand MEC_AMO_TEM_035_01 Page 1 of 9 Quantitative Methods for Business (MASC 20004) - Spring - 2020 -CW1 (Assignment) - ALL-QP perfumes are 25% higher than its lower brand cost. Fix the selling price of the cheapest perfume at 20% profit, and the next cheapest models at 15%, 13% and 10% profits respectively. In each of the shops it is known that the showcase area of perfume boxes is at most ten times of the shop carpet area. The bank loan policies allows you to apply a loan upto 500 times of the shop carpet area. In the town, building owners normally build shop with the carpet area 36 m2 49 m2,64 m,81 m and 100 m respectively. You financial conditions allows you to apply a loan upto 42000 rials. Assume that all perfumes are completely sold out at the end of each month. Formulate the above case as a linear programming problem, (15 Marks) 2. Assume that you are planning to open a perfume Shop by taking loan from bank. The shop requires a minimum of carpet area of 25 m2. The monthly rent for each ma is 12 rials per month. Choose any four brands of perfumes you can sell in your shop. A box of 50 bottles in every brand requires 0.25 m of carpet area. The purchase cost of 500 bottles of the cheapest brand perfume is equal to two months shop rent. Cost of each next cheapest model brand 1. Trace the history of Operations research (Quantitative method). Define linear programming model, and briefly explain its assumptions, limitations and scope to various industries. (10 Marks) 2. Assume that you are planning to open a perfume Shop by taking loan from bank. The shop requires a minimum of carpet area of 25 m2. The monthly rent for each ma is 12 rials per month. Choose any four brands of perfumes you can sell in your shop. A box of 50 bottles in every brand requires 0.25 m of carpet area. The purchase cost of 500 bottles of the cheapest brand perfume is equal to two months shop rent. Cost of each next cheapest model brand MEC_AMO_TEM_035_01 Page 1 of 9 Quantitative Methods for Business (MASC 20004) - Spring - 2020 -CW1 (Assignment) - ALL-QP perfumes are 25% higher than its lower brand cost. Fix the selling price of the cheapest perfume at 20% profit, and the next cheapest models at 15%, 13% and 10% profits respectively. In each of the shops it is known that the showcase area of perfume boxes is at most ten times of the shop carpet area. The bank loan policies allows you to apply a loan upto 500 times of the shop carpet area. In the town, building owners normally build shop with the carpet area 36 m2 49 m2,64 m,81 m and 100 m respectively. You financial conditions allows you to apply a loan upto 42000 rials. Assume that all perfumes are completely sold out at the end of each month. Formulate the above case as a linear programming problem, (15 Marks)
