the ten questions with reference to the context and the answer is worth one tenth of the total score. The assignment counts t final grade for the class. Partial credit will be given for incomplete or enough work or commentary is shown. For full score, it is not nece asnwer all the questions. Make sure you label each answer, whether i table or chart format. Do not hesitate to email me with questions abo or the Excel skills required. This is an individual assignment. You ma with others, but do not share your work in written or electro he context and the data provided. Each ssignment counts towards 15% of your n for incomplete or incorrect answers if core, it is not necessary to correctly h answer, whether it is in text, number, with questions about the assignment, ssignment. You may verbally discuss it n written or electronic form. On flight 3411, which is expected to be fully booked, United Airlines is considering selling more economy seats than the aircraft can actually accommodate. Since not every passenger will likely show up, this overbooking strategy is aimed at increasing total profits from a base profit calculated when no overbooking seat is sold and everybody shows up. In fact, the carrier makes an additional profit of $250 for each ticket sold in excess of the aircraft capacity that is not overbooked, whether the passenger shows or not, but loses $800 for each overbooked passenger who has to take a later flight. The high probability of no-shows justifies the risk of the heftier loss. Regardless of how many tickets are sold, the probability that everybody shows up is only 12.5%, the probability that one passenger does not show is 50%, the probability that two do not show is 25%, and the probability that three do not show is 12.5%. a. What are the model's objective, decision variable(s) and tradeoffs? b. How many parameters are there? Which are deterministic? Which are stochastic (random)? c. Create a two-way table that includes the differences from the base profit for each scenario. d. What is/are the optimal decision(s)? Based on what? e. What needs to change to modify the optimal decision? Show that in a new table. hastic (random)? or each scenario. A food truck vendor needs to schedule the delivery of water bottles for a 10day period. Two options are on the table, a daily frequency, or one delivery every other day. Besides the purchasing cost, the vendor has to pay a flat fee of $10 per delivery, so he clearly prefers the second option. However, that would increase inventory which, given the limited space of the truck, is an inconvenience. Although water bottles do not lose value over time, the vendor has estimated an inconvenience cost of $.10 per bottle, per day. Based on this, the vendor would now prefer the first option, so that he can also save room for more profitable food products and kitchen utilities. As of now the vendor has 73 bottles in stock, and he as to communicate his frequency option choice to the supplier, along with a delivery order quantity, to be kept the entire period. Bottles come in cases of 50, so given that he estimates a daily demand uniform between 80 and 100 units and wishes a fill rate of at least 90%, he needs to figure out how many (up to four) cases to order per delivery and their frequency starting on day one. a. What are the model's objective, decision variable(s) and tradeoffs? b. How many parameters are there? Which are deterministic? Which are stochastic (random)? c/d/e. What is/are the optimal decision(s)? Show as many tables as you want, including a descripti hastic (random)? including a description of all the results and the simulation runs that may be needed to prove the solution. o prove the solution. Please answer the ten questions with reference to the context and the answer is worth one tenth of the total score. The assignment counts t final grade for the class. Partial credit will be given for incomplete or enough work or commentary is shown. For full score, it is not nece asnwer all the questions. Make sure you label each answer, whether i table or chart format. Do not hesitate to email me with questions abo or the Excel skills required. This is an individual assignment. You ma with others, but do not share your work in written or electro he context and the data provided. Each ssignment counts towards 15% of your n for incomplete or incorrect answers if core, it is not necessary to correctly h answer, whether it is in text, number, with questions about the assignment, ssignment. You may verbally discuss it n written or electronic form. On flight 3411, which is expected to be fully booked, United Airlines is considering selling more economy seats than the aircraft can actually accommodate. Since not every passenger will likely show up, this overbooking strategy is aimed at increasing total profits from a base profit calculated when no overbooking seat is sold and everybody shows up. In fact, the carrier makes an additional profit of $250 for each ticket sold in excess of the aircraft capacity that is not overbooked, whether the passenger shows or not, but loses $800 for each overbooked passenger who has to take a later flight. The high probability of no-shows justifies the risk of the heftier loss. Regardless of how many tickets are sold, the probability that everybody shows up is only 12.5%, the probability that one passenger does not show is 50%, the probability that two do not show is 25%, and the probability that three do not show is 12.5%. a. What are the model's objective, decision variable(s) and tradeoffs? b. How many parameters are there? Which are deterministic? Which are stochastic (random)? c. Create a two-way table that includes the differences from the base profit for each scenario. d. What is/are the optimal decision(s)? Based on what? e. What needs to change to modify the optimal decision? Show that in a new table. hastic (random)? or each scenario. A food truck vendor needs to schedule the delivery of water bottles for a 10day period. Two options are on the table, a daily frequency, or one delivery every other day. Besides the purchasing cost, the vendor has to pay a flat fee of $10 per delivery, so he clearly prefers the second option. However, that would increase inventory which, given the limited space of the truck, is an inconvenience. Although water bottles do not lose value over time, the vendor has estimated an inconvenience cost of $.10 per bottle, per day. Based on this, the vendor would now prefer the first option, so that he can also save room for more profitable food products and kitchen utilities. As of now the vendor has 73 bottles in stock, and he as to communicate his frequency option choice to the supplier, along with a delivery order quantity, to be kept the entire period. Bottles come in cases of 50, so given that he estimates a daily demand uniform between 80 and 100 units and wishes a fill rate of at least 90%, he needs to figure out how many (up to four) cases to order per delivery and their frequency starting on day one. a. What are the model's objective, decision variable(s) and tradeoffs? b. How many parameters are there? Which are deterministic? Which are stochastic (random)? c/d/e. What is/are the optimal decision(s)? Show as many tables as you want, including a descripti 1 2 3 4 5 6 7 8 9 10 tr cost carr cost tot cost 150 223 150 150 150 150 $50 95.45 $145 223 129 179 92 150 70 150 63 150 66 94 100 87 95 80 81 87 98 84 87 129 29 92 0 70 0 63 0 66 0 lost sales avg inv 0 176 0 79 0 135.5 3 46 0 110 11 35 0 106.5 35 31.5 0 108 21 33 0.909392 954.5 hastic (random)? including a description of all the results and the simulation runs that may be needed to prove the solution. 1 2 3 4 5 6 7 8 9 10 tr cost carr cost tot cost 50 123 50 123 50 123 50 123 50 123 50 $100 61.1 $161 dem 123 75 123 88 123 83 123 79 123 74 98 84 85 92 90 91 94 93 99 95 25 0 38 0 33 0 29 0 24 0 lost sales avg inv 0 74 9 37.5 0 80.5 4 44 0 78 8 41.5 0 76 14 39.5 0 73.5 21 37 0.963964 611 o prove the solution