Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Recall the distribution of Haircut Times for the Wingate Barbershop in Problem 5. Page 4 of the Handout gives some simulation output from Excel for

image text in transcribed

Recall the distribution of Haircut Times for the Wingate Barbershop in Problem 5. Page 4 of the Handout gives some simulation output from Excel for this distribution. 3 each (a) What would you type into Excel to generate the value located in Cell C17 ? (b) What would you type into Excel to generate the value located in Cell F19? 7. Poulan makes a high-end chainsaw and wishes to develop an aggregate plan for the 8-month period from January through August. Suppose that 100 chainsaws remain in inventory at the end of December and the December workforce was capable of producing 3600 of the saws in a month. Chainsaws produced during regular time cost Poulan $60 to make, those produced in overtime cost $80 apiece, and any that are subcontracted cost $70 each. Holding cost for a chainsaw is $10/ month and since this saw is such a popular model it can be backordered at a cost $30 / chainsaw / month. To make adjustments to its workforce, it costs Poulan $40 / chainsaw to increase production (hiring) and $20/ chainsaw to decrease production (firing.) Fill in the table and calculate the total cost for Plan A described below: (a) Plan A: Maintain a steady workforce producing 4000 saws per month for the entire time horizon. Produce up to 100 units in overtime when needed to fill backorders or demand. Let inventory vary and backorders occur. 10pts. Recall the distribution of Haircut Times for the Wingate Barbershop in Problem 5. Page 4 of the Handout gives some simulation output from Excel for this distribution. 3 each (a) What would you type into Excel to generate the value located in Cell C17 ? (b) What would you type into Excel to generate the value located in Cell F19? 7. Poulan makes a high-end chainsaw and wishes to develop an aggregate plan for the 8-month period from January through August. Suppose that 100 chainsaws remain in inventory at the end of December and the December workforce was capable of producing 3600 of the saws in a month. Chainsaws produced during regular time cost Poulan $60 to make, those produced in overtime cost $80 apiece, and any that are subcontracted cost $70 each. Holding cost for a chainsaw is $10/ month and since this saw is such a popular model it can be backordered at a cost $30 / chainsaw / month. To make adjustments to its workforce, it costs Poulan $40 / chainsaw to increase production (hiring) and $20/ chainsaw to decrease production (firing.) Fill in the table and calculate the total cost for Plan A described below: (a) Plan A: Maintain a steady workforce producing 4000 saws per month for the entire time horizon. Produce up to 100 units in overtime when needed to fill backorders or demand. Let inventory vary and backorders occur. 10pts

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

Investment Analysis And Portfolio Management

Authors: Frank K. Reilly, Keith C. Brown

7th Edition

0324171730, 978-0324171730

More Books

Students also viewed these Finance questions

Question

7. What are the main provisions of the FMLA?pg 87

Answered: 1 week ago

Question

7. What are the main provisions of the FMLA?

Answered: 1 week ago