Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This question is about the Factory Planning problem that is explained in the slides of the course. In the general case of this problem, products

This question is about the Factory Planning problem that is explained in the
slides of the course. In the general case of this problem, products ={1,...,||} must be produced using
processes ={1,...,||}. The following parameters and variable are used by an operations research
analyst to formulate the problem:
Parameters:
: The market limit for product .
: The per-unit profit for selling product .
: The total available time for process (in hour)
: The required time of process for one unit of product (in hour)
Variables:
: The number of product produced and sold in the market.
Using this notation, the following model is proposed by the operations research analyst.
in
(1)
in
<= in (2)
0<=<= in (3)
integer in (4)
The data for this problem are given in Factory_Planning.xlsx.
Question 1-Part a) Report the Solution time, the obtained objective value, and the obtained solution.
Question 1-Part b) The business owner has realized that she has two options;
1) pay $10,000 to have 10% more available time for the available time of process 1.
2) Stick the available times for processes as in the previous part of the question and do not pay
anything.
Which option do you recommend to the business owner?This question is about the Factory Planning problem that is explained in the
slides of the course. In the general case of this problem, products ={1,...,||} must be produced using
processes ={1,...,||}. The following parameters and variable are used by an operations research
analyst to formulate the problem:
Parameters:
: The market limit for product .
: The per-unit profit for selling product .
: The total available time for process (in hour)
: The required time of process for one unit of product (in hour)
Variables:
: The number of product produced and sold in the market.
Using this notation, the following model is proposed by the operations research analyst.
in
(1)
in
<= in (2)
0<=<= in (3)
integer in (4)
The data for this problem are given in Factory_Planning.xlsx.
Question 1-Part a) Report the Solution time, the obtained objective value, and the obtained solution.
Question 1-Part b) The business owner has realized that she has two options;
1) pay $10,000 to have 10% more available time for the available time of process 1.
2) Stick the available times for processes as in the previous part of the question and do not pay
anything.
Which option do you recommend to the business owner?

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

The ABCs Of Property Management

Authors: Ken McElroy

1st Edition

9781937832537

More Books

Students also viewed these General Management questions

Question

What do alerts do in a smartphone or tablet interface

Answered: 1 week ago

Question

Focus on the interview.

Answered: 1 week ago