Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, this is an exam for Intro to Management Science and needs to be solved on Excel using solver and linear and integer programming tools.

Hi, this is an exam for Intro to Management Science and needs to be solved on Excel using solver and linear and integer programming tools. I need pictures of the excel solution OR excel file. This is urgent. Would be very thankful.

Regards,

image text in transcribed
1) [10 points] Smalltime Investments Inc. is going to purchase new computers for most of the employees. At least eight computers must be purchased. The cost of the basic personal computer with monitor and disk drive is $2,000, while the deluxe version with VGA and advanced processor is $3,500. Due to internal politics, the number of deluxe computers must be no more than half the number of regular computers, but at least three deluxe computers must be purchased. The budget is $27,000. Formulate and solve this as an integer programming problem to maximize the number of computers purchased. 2) A start- up company is considering entering the market with what they believe to be a smaller and faster computer than some of the existing products on the market. They want to get a feel for whether or not customers would be willing to switch from some of the existing bigger brands to consider their product. They want to collect a reasonable sample from across the country representative of all age brackets. They have split the country into 2 regions: North and South. They want at least 65% of their sample to cover the North and no fewer than 25% of the South. They also have divided the age groups into 3 categories: 18-35, 36-69, and 70 and up. They want at least 50% of their sample to be between 18 and 35 and at least 40% to be between 36 and 69. The costs per person surveyed is given in the table below: Region 18-35 36-69 70 and up North $2.50 $2.00 $1.50 South $3.50 $3.00 $2.00 Assume that at least 1,000 people are to be surveyed. The problem for the company is to decide how many people to survey from each age bracket within each region in order to minimize costs while meeting requirements. Setup this as an appropriate programing problem and find the optimal solution and minimum cost in Excel using solver. Show all your work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction to Management Science

Authors: Bernard W. Taylor

11th Edition

132751917, 978-0132751919

More Books

Students also viewed these General Management questions

Question

Why did urban centers develop near waterways?

Answered: 1 week ago