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Please can you answer these 3 questions? Thank you! Pre-Meeting Assignment 1 1. (From Operations Management, 14e, by William Stevenson, McGraw Hill, 2021). A retired
Please can you answer these 3 questions? Thank you!
Pre-Meeting Assignment 1 1. (From Operations Management, 14e, by William Stevenson, McGraw Hill, 2021). A retired couple supplement their income by making fruit pies, which they sell to a local grocery store. During the month of September, they produce apple and grape pies. The apple pies are sold for $4.50 to the grocer, and the grape pies are sold for $3.60. The couple is able to sell all of the pies they produce owing to their high quality. They use fresh ingredient. Flour and sugar are purchased each month. For the month of September they have 1,200 cups of sugar and 2,100 cups of flour. Each apple pie requires 1% cups of sugar and 3 cups of flour, and each grape pie requires 2 cups of sugar and 3 cups of flour. Determine the number of grape and the number of apple pies that will maximize revenues if the couple working together can make an apple pie in six minutes and a grape pie in three minutes. They plan to work no more than 60 hour. A. Formulate an LP model for this problem. B. Implement your model in Excel. C. What is the optimal product mix and what is the optimal profit? D. Determine the amounts of sugar, flour, and time that will be unused. 2. (From Operations Management, 14e, by William Stevenson, McGraw Hill, 2021). A manager wants to know how many units of each product to produce on a daily basis to achieve the highest profit. Production requirements for the products are shown in the following table: Product Material 1 (pounds) Material 2{pounds) Labor (hours) 3.2 B 1 5 1.5 6 2 2.0 Material 1 costs $5 a pound, material 2 costs $4 a pounds, and labor costs $10 an hour. Product A sells for $80 a unit, product B sells for $90 a unit, and product sells for $70 per unit. Available resources each day are 200 pounds of material 1; 300 pounds of material 2, and 150 hours of labor. The manager must satisfy certain output requirements: The output of product A should not be more than one-third of the total number of units produced, the ratio of units of product A to units of product Bshould be 3 to 2; and there is a standing order for 5 units of product A each day. A. Formulate an LP model for this problem. B. Implement your model in Excel. C. What is the optimal product mix and what is the optimal profit? 3. (From Spreadsheet Modeling and Decision Analysis, 5e, by Cliff T Ragsdale, Thomson South-Western, 2008). A trust officer at the Blacksburg National Bank needs to determine how to invest $100,000 in the following collection of bonds to maximize the annual return. Bond Annual Return Maturity Tax-free 9.5 % Long High Yes B 8.0 % Short Low Yes 9.0% Long Low No D 9.0% Long High Yes 9.0 % Short High No Risk Uw E The officer wants to invest at least 50% of the money in short-term issues and no more than 50% in high- risk issues. At least 30% of the funds should go into tax-free investments and at least 40% of the total annual return should be tax-free. A. Formulate an LP model for this problem. B. Implement your model in Excel. C. What is the optimal product mix and what is the optimal profit? Pre-Meeting Assignment 1 1. (From Operations Management, 14e, by William Stevenson, McGraw Hill, 2021). A retired couple supplement their income by making fruit pies, which they sell to a local grocery store. During the month of September, they produce apple and grape pies. The apple pies are sold for $4.50 to the grocer, and the grape pies are sold for $3.60. The couple is able to sell all of the pies they produce owing to their high quality. They use fresh ingredient. Flour and sugar are purchased each month. For the month of September they have 1,200 cups of sugar and 2,100 cups of flour. Each apple pie requires 1% cups of sugar and 3 cups of flour, and each grape pie requires 2 cups of sugar and 3 cups of flour. Determine the number of grape and the number of apple pies that will maximize revenues if the couple working together can make an apple pie in six minutes and a grape pie in three minutes. They plan to work no more than 60 hour. A. Formulate an LP model for this problem. B. Implement your model in Excel. C. What is the optimal product mix and what is the optimal profit? D. Determine the amounts of sugar, flour, and time that will be unused. 2. (From Operations Management, 14e, by William Stevenson, McGraw Hill, 2021). A manager wants to know how many units of each product to produce on a daily basis to achieve the highest profit. Production requirements for the products are shown in the following table: Product Material 1 (pounds) Material 2{pounds) Labor (hours) 3.2 B 1 5 1.5 6 2 2.0 Material 1 costs $5 a pound, material 2 costs $4 a pounds, and labor costs $10 an hour. Product A sells for $80 a unit, product B sells for $90 a unit, and product sells for $70 per unit. Available resources each day are 200 pounds of material 1; 300 pounds of material 2, and 150 hours of labor. The manager must satisfy certain output requirements: The output of product A should not be more than one-third of the total number of units produced, the ratio of units of product A to units of product Bshould be 3 to 2; and there is a standing order for 5 units of product A each day. A. Formulate an LP model for this problem. B. Implement your model in Excel. C. What is the optimal product mix and what is the optimal profit? 3. (From Spreadsheet Modeling and Decision Analysis, 5e, by Cliff T Ragsdale, Thomson South-Western, 2008). A trust officer at the Blacksburg National Bank needs to determine how to invest $100,000 in the following collection of bonds to maximize the annual return. Bond Annual Return Maturity Tax-free 9.5 % Long High Yes B 8.0 % Short Low Yes 9.0% Long Low No D 9.0% Long High Yes 9.0 % Short High No Risk Uw E The officer wants to invest at least 50% of the money in short-term issues and no more than 50% in high- risk issues. At least 30% of the funds should go into tax-free investments and at least 40% of the total annual return should be tax-free. A. Formulate an LP model for this problem. B. Implement your model in Excel. C. What is the optimal product mix and what is the optimal profit Step by Step Solution
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