MNS407 Management Science. reference: An Introduction to Management Science: Quantitative Approaches to Decision Making, 15^th Edition

3. [-/1.25 Points] ASWMSCI15 1.E.007. Suppose you are going on a weekend trip to a city that is d miles away. (a) Develop a model that determines your round-trip gasoline costs. Let d = distance, m = miles per gallon, p = price per gallon, and C = total cost. (b) What assumptions or approximations are necessary to treat this model as a deterministic model? (Select all that apply.) O O O O 0 We use the same route on the outbound and the inbound leg of the trip. p varies by location and due to local taxes. 'm varies depending on city and highway traffic conditions. p does not vary by location. m does not vary for the duration of the trip. (c) Are these assumptions or approximations acceptable? O QO O o A reasonable person would note that neither m nor p can be known ahead of time and reject the approximation. A reasonable person would assume average values for m and p and accept the approximation. A reasonable person would conclude that the real cost would deviate widely from the estimate and reject the approximation. A reasonable person would hedge their bets and increase the budget by 20% over the estimated cost. 4. [-/1.25 Points] DETAILS ASWMSCI15 3.E.012. MY NOTES PRACTICE ANOTHER . 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 requirements per unit are as follows: Number of Number of Manufacturing Fans Cooling Coils Time (hours) Economy 1 1 8 Standard 1 2 12 Deluxe 1 4 14 For the coming production period, the company has 240 fan motors, 340 cooling coils, and 2,600 hours of manufacturing time available. How many economy models (E), standard models (S), and deluxe models (D) should the company produce in order to maximize profit? The linear programming model for the problem is as follows: Max 63F + 955 + 135D s.t. 1E + 1S + 1D