Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me with these two questions! Thank you so much. Question 1 TheBestEver company produces three types of trucks: small, mid, and heavy. The

Please help me with these two questions! Thank you so much.
image text in transcribed
image text in transcribed
Question 1 TheBestEver company produces three types of trucks: small, mid, and heavy. The production of any type of truck requires three install operations. The following table shows the time required for each operation in minutes. The time needs for stamping is 30 minutes per hour. The time available for motor installation is 60 minutes per hour. The company has two stations for wiring and each of them is available for 45 minutes per hour. The profit made is $20 from each Small Truck, $30 from each Medium Truck, and $40 from each Heavy Truck. a. Define decision variables. Your definition must include unit size \& time frame. Kim's Kitchen Supply wants to extend its business and makes oil supply contracts with fried chicken restaurants in Newark. Kim's premium oil bottle has 3/4 gallon of olive oil and 1/4 gallon of canola oil while regular oil bottle has 2/3 of olive oil and 1/3 of canola oil. The shop has 80 gallons of olive oil and 90 gallons of canola oil. Olive oil costs \$24 per gallon and canola oil costs \$12 per gallon. The Premium oil will sell for $35 per gallon and the Regular oil will sell for $24 per gallon. The firm estimates that no more than 100 bottles of each type can be sold. a. Define decision variables. Your definition must include unit size \& time frame. b. Develop the Objective Function. (Hints: Profit = Revenue - Cost) You may calculate the profit per productor for both products together. c. Find the constraints. d. Use 'Excel - Solver' and find the optimal solution. (You must submit your excel work to get the full points.)

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

Step: 3

blur-text-image

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

Fundamentals of Management

Authors: Robbins, DeCenzo, Coulter

7th Edition

132996855, 0-13-610982-9 , 9780132996853, 978-0-13-61098, 978-0136109822

More Books

Students also viewed these General Management questions