Chapter 1

2. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $60,000.The variable cost of recapping a tire is $9.The company charges $25 to recap a tire.

a. For an annual volume of 12,000 tires, determine the total cost, total revenue, and profit.

b. Determine the annual break-even volume for the Retread Tire Company operation.

4. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $25,000, and its variable cost per pound of fertilizer is $0.15. Evergreen sells the fertilizer for $0.40 per pound. Determine the monthly break-even volume for the company.

12. If Evergreen Fertilizer Company in Problem 4 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume?

14. If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 13?

Reference Problem 13: If Evergreen Fertilizer Company changes its production process to add a weed killer to the fertilizer in order to increase sales, the variable cost per pound will increase from $0.15 to $0.22. What effect will this change have on the break-even volume computed in Problem 12?

20. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home games. There are seven home games scheduled for the upcoming season. She must pay the Tech athletic department a vendor’s fee of $3,000 for the season. Her stand and other equipment will cost her $4,500 for the season. She estimates that each hot dog she sells will cost her $0.35. She has talked to friends at other universities who sell hot dogs at games. Based on their information and the athletic department’s forecast that each game will sell out, she anticipates that she will sell approximately 2,000 hot dogs during each game.

a. What price should she charge for a hot dog in order to break even?

b. What factors might occur during the season that would alter the volume sold and thus the break-even price Annie might charge?

22. The College of Business at Tech is planning to begin an online MBA program. The initial start-up cost for computing equipment, facilities, course development, and staff recruitment and development is $350,000.The college plans to charge tuition of $18,000 per student per year. However, the university administration will charge the college $12,000 per student for the first 100 students enrolled each year for administrative costs and its share of the tuition payments.

a. How many students does the college need to enroll in the first year to break even?

b. If the college can enroll 75 students the first year, how much profit will it make?

c. The college believes it can increase tuition to $24,000, but doing so would reduce enrollment to 35. Should the college consider doing this?

 

Chapter 11

18. The following probabilities for grades in management science have been determined based on past records:

The grades are assigned on a 4.0 scale, where an A is a 4.0, a B a 3.0, and so on. Determine the expected grade and variance for the course.

20. An investment firm is considering two alternative investments, A and B, under two possible future sets of economic conditions, good and poor. There is a .60 probability of good economic conditions occurring and a .40 probability of poor economic conditions occurring. The expected gains and losses under each economic type of conditions are shown in the following table:

Using the expected value of each investment alternative, determine which should be selected.

26. The weight of bags of fertilizer is normally distributed, with a mean of 50 pounds and a standard deviation of 6 pounds. What is the probability that a bag of fertilizer will weigh between 45 and 55 pounds?

28. The Polo Development Firm is building a shopping center. It has informed renters that their rental spaces will be ready for occupancy in 19 months. If the expected time until the shopping center is completed is estimated to be 14 months, with a standard deviation of 4 months, what is the probability that the renters will not be able to occupy in 19 months?

30. The manager of the local National Video Store sells videocassette recorders at discount prices. If the store does not have a video recorder in stock when a customer wants to buy one, it will lose the sale because the customer will purchase a recorder from one of the many local competitors. The problem is that the cost of renting warehouse space to keep enough recorders in inventory to meet all demand is excessively high. The manager has determined that if 90% of customer demand for recorders can be met, then the combined cost of lost sales and inventory will be minimized. The manager has estimated that monthly demand for recorders is normally distributed, with a mean of 180 recorders and a standard deviation of 60. Determine the number of recorders the manager should order each month to meet 90% of customer demand.

 

Week 2

Click the link above to submit your homework.

Complete the following problems from Chapter 12:

• Problems 8, 16, 24, 32, 36

Refer to the tree diagram below to complete problem 36:

MAT 540

Week 2 Homework

Chapter 12

8. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment:

Determine the best investment, using the following decision criteria.

a. Maximax

b. Maximin

c. Minimax regret

d. Hurwicz (? = 0.4)

e. Equal likelihood

16. A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College Junction, where the game is to be held. The manager estimates that the following profits will result from each decision, given each set of weather conditions:

a. Compute the expected value for each decision and select the best one.

b. Develop the opportunity loss table and compute the expected opportunity loss for each decision.

24. In Problem 13 the Place-Plus real estate development firm has hired an economist to assign a probability to each direction interest rates may take over the next 5 years. The economist has determined that there is a .50 probability that interest rates will decline, a .40 probability that rates will remain stable, and a .10 probability that rates will increase.

a. Using expected value, determine the best project.

b. Determine the expected value of perfect information.

Reference Problem 13: Place-Plus, a real estate development firm, is considering several alternative development projects. These include building and leasing an office park, purchasing a parcel of land and building an office building to rent, buying and leasing a warehouse, building a strip mall, and building and selling condominiums. The financial success of these projects depends on interest rate movement in the next 5 years. The various development projects and their 5-year financial return (in $1,000,000s) given that interest rates will decline, remain stable, or increase, are shown in the following payoff table:

 

32. The director of career advising at Orange Community College wants to use decision analysis to provide information to help students decide which 2-year degree program they should pursue. The director has set up the following payoff table for six of the most popular and successful degree programs at OCC that shows the estimated 5-year gross income ($) from each degree for four future economic conditions:

Determine the best degree program in terms of projected income, using the following decision criteria:

a. Maximax

b. Maximin

c. Equal likelihood

d. Hurwicz (? = 0.50)

36. Construct a decision tree for the decision situation described in Problem 25 and indicate the best decision.

Reference Problem 25: Fenton and Farrah Friendly, husband-and-wife car dealers, are soon going to open a new dealership. They have three offers: from a foreign compact car company, from a U.S. producer of full-sized cars, and from a truck company. The success of each type of dealership will depend on how much gasoline is going to be available during the next few years. The profit from each type of dealership, given the availability of gas, is shown in the following payoff table:

Decision Tree diagram to complete:

 

MAT 540

Week 3 Homework

Chapter 14

1. The Hoylake Rescue Squad receives an emergency call every 1, 2, 3, 4, 5, or 6 hours, according to the following probability distribution. The squad is on duty 24 hours per day, 7 days per week:

a. Simulate the emergency calls for 3 days (note that this will require a “running”, or cumulative, hourly clock), using the random number table.

b. Compute the average time between calls and compare this value with the expected value of the time between calls from the probability distribution. Why are the results different?

2. The time between arrivals of cars at the Petroco Service Station is defined by the following probability distribution:

a. Simulate the arrival of cars at the service station for 20 arrivals and compute the average time between arrivals.

b. Simulate the arrival of cars at the service station for 1 hour, using a different stream of random numbers from those used in (a) and compute the average time between arrivals.

c. Compare the results obtained in (a) and (b).

3. The Dynaco Manufacturing Company produces a product in a process consisting of operations of five machines. The probability distribution of the number of machines that will break down in a week follows:

a. Simulate the machine breakdowns per week for 20 weeks.

b. Compute the average number of machines that will break down per week.

5. Simulate the decision situation described in Problem 16(a) at the end of Chapter 12 for 20 weeks, and recommend the best decision.

Reference Problem 16(a) in Chapter 12: A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College Junction, where the game is to be held. The manager estimates that the following profits will result from each decision, given each set of weather conditions:

a. Compute the expected value for each decision and select the best one.

6. Every time a machine breaks down at the Dynaco Manufacturing Company (Problem 3), either 1, 2, or 3 hours are required to fix it, according to the following probability distribution:

a. Simulate the repair time for 20 weeks and then compute the average weekly repair time.

 

MAT 540 Week 6 Homework Chapter 2

 

2. A company produces two products that are processed on two assembly lines. Assembly line 1 has 100 available hours, and assembly line 2 has 42 available hours. Each product requires 10 hours of processing time on line 1, while on line 2 product 1 requires 7 hours and product 2 requires 3 hours. The profit for product 1 is $6 per unit, and the profit for product 2 is $4 per unit.

a. Formulate a linear programming model for this problem.

b. Solve the model by using graphical analysis.

6. The Pinewood Furniture Company produces chairs and tables from two resources – labor and wood. The company has 80 hours of labor and 36 board-ft. of wood available each day. Demand for chairs is limited to 6 per day. Each chair requires 8 hours of labor and 2 board-ft. of wood, whereas a table requires 10 hours of labor and 6 board-ft. of wood. The profit derived from each chair is $400 and from each table, $100. The company wants to determine the number of chairs and tables to produce each day in order to maximize profit. Formulate a linear programming model for this problem.

a. Formulate a linear programming model for this problem.

b. Solve the model by using graphical analysis.

7. In Problem 6, how much labor and wood will be unused if the optimal numbers of chairs and tables are produced?

12. The Elixer Drug Company produces a drug from two ingredients. Each ingredient contains the same three antibiotics, in different proportions. One gram of ingredient 1 contributes 3 units and one gram of ingredient 2 contributes 1 unit of antibiotic 1; the drug requires 6 units. At least 4 units of antibiotic 2 are required and the ingredients contribute 1 unit each per gram. At least 12 units of antibiotic 3 are required; a gram of ingredient 1 contributes 2 units, and a gram of ingredient 2 contributes 6 units. The cost for a gram of ingredient 1 is $80, and the cost for a gram of ingredient 2 is $50. The company wants to formulate a linear programming model to determine the number of grams of each ingredient that must go into the drug in order to meet the antibiotic requirements at the minimum cost.

a. Formulate a linear programming model for this problem.

b. Solve the model by using graphical analysis.

16. A clothier makes coats and slacks. The two resources required are wool cloth and labor. The clothier has 150 square yards of wool and 200 hours of labor available. Each coat requires 3 square yards of wool and 10 hours of labor, whereas each pair of slacks requires 5 square yards of wool and 4 hours of labor. The profit for a coat is $50, and the profit for slacks is $40. The clothier wants to determine the number of coats and pairs of slacks to make so that profit will be maximized.

a. Formulate a linear programming model for this problem.

b. Solve the model by using graphical analysis.

20. Solve the following linear programming model graphically:

Maximize Z = 5×1 + 8×2

Subject to

3×1 + 5×2 ? 50

2×1 + 4×2 ? 40

x1 ? 8

x2 ? 10

x1, x2 ? 0

 

MAT 540 Week 7 Homework Chapter 3

8. Solve the model formulated in Problem 7 for Southern Sporting Goods Company using the computer.

a. State the optimal solution.

b. What would be the effect on the optimal solution if the profit for a basketball changed from $12 to $13? What would be the effect if the profit for a football changed from $16 to $15?

c. What would be the effect on the optimal solution if 500 additional pounds of rubber could be obtained? What would be the effect if 500 additional square feet of leather could be obtained?

Reference Problem 7. Southern Sporting Good Company makes basketballs and footballs. Each product is produced from two resources rubber and leather. The resource requirements for each product and the total resources available are as follows:

10. A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product must be processed on two assembly lines, where the required production times are as follows:

a. Formulate a linear programming model to determine the optimal product mix that will maximize profit.

b. Transform this model into standard form.

11. Solve problem 10 using the computer.

a. State the optimal solution.

b. What would be the effect on the optimal solution if the production time on line 1 was reduced to 40 hours?

c. What would be the effect on the optimal solution if the profit for product B was increased from $7 to $15 to $20?

12. For the linear programming model formulated in Problem 10 and solved in Problem 11.

a. What are the sensitivity ranges for the objective function coefficients?

b. Determine the shadow prices for additional hours of production time on line 1 and line 2 and indicate whether the company would prefer additional line 1 or line 2 hours.

14. Solve the model formulated in Problem 13 for Irwin Textile Mills.

a. How much extra cotton and processing time are left over at the optimal solution? Is the demand for corduroy met?

b. What is the effect on the optimal solution if the profit per yard of denim is increased from $2.25 to $3.00? What is the effect if the profit per yard of corduroy is increased from $3.10 to $4.00?

c. What would be the effect on the optimal solution if Irwin Mils could obtain only 6,000 pounds of cotton per month?

Reference Problem 13. Irwin Textile Mills produces two types of cotton cloth – denim and corduroy. Corduroy is a heavier grade of cotton cloth and, as such, requires 7.5 pounds of raw cotton per yard, whereas denim requires 5 pounds of raw cotton per yard. A yard of corduroy requires 3.2 hours of processing time; a yard of denim requires 3.0 hours. Although the demand for denim is practically unlimited, the maximum demand for corduroy is 510 yards per month. The manufacturer has 6,500 pounds of cotton and 3,000 hours of processing time available each month. The manufacturer makes a profit of $2.25 per yard of denim and $3.10 per yard of corduroy. The manufacturer wants to know how many yards of each type of cloth to produce to maximize profit. Formulate the model and put it into standard form. Solve it.

15. Continuing the model from Problem 14.

a. If Irwin Mills can obtain additional cotton or processing time, but not both, which should it select? How much? Explain your answer.

b. Identify the sensitivity ranges for the objective function coefficients and for the constraint quantity values. Then explain the sensitivity range for the demand for corduroy.

 

16. United Aluminum Company of Cincinnati produces three grades (high, medium, and low) of aluminum at two mills. Each mill has a different production capacity (in tons per day) for each grade as follows:

The company has contracted with a manufacturing firm to supply at least 12 tons of high-grade aluminum, and 5 tons of low-grade aluminum. It costs United $6,000 per day to operate mill 1 and $7,000 per day to operate mill 2. The company wants to know the number of days to operate each mill in order to meet the contract at minimum cost.

a. Formulate a linear programming model for this problem.

18. Solve the linear programming model formulated in Problem 16 for Unite Aluminum Company by using the computer.

a. Identify and explain the shadow prices for each of the aluminum grade contract requirements.

b. Identify the sensitivity ranges for the objective function coefficients and the constraint quantity values.

c. Would the solution values change if the contract requirements for high-grade alumimum were increased from 12 tons to 20 tons? If yes, what would the new solution values be?

24. Solve the linear programming model developed in Problem 22 for the Burger Doodle restaurant by using the computer.

a. Identify and explain the shadow prices for each of the resource constraints

b. Which of the resources constrains profit the most?

c. Identify the sensitivity ranges for the profit of a sausage biscuit and the amount of sausage available. Explain these sensitivity ranges.

Reference Problem 22. The manager of a Burger Doodle franchise wants to determine how many sausage biscuits and ham biscuits to prepare each morning for breakfast customers. The two types of biscuits require the following resources:

The franchise has 6 hours of labor available each morning. The manager has a contract with a local grocer for 30 pounds of sausage and 30 pounds of ham each morning. The manager also purchases 16 pounds of flour. The profit for a sausage biscuit is $0.60; the profit for a ham biscuit is $0.50. The manager wants to know the number of each type of biscuit to prepare each morning in order to maximize profit. Formulate a linear programming model for this problem.

MAT 540 Week 8 Homework Chapter 4

14. Grafton Metalworks Company produces metal alloys from six different ores it mines. The company has an order from a customer to produce an alloy that contains four metals according to the following specifications: at least 21% of metal A, no more than 12% of metal B, no more than 7% of metal C and between 30% and 65% of metal D. The proportion of the four metals in each of the six ores and the level of impurities in each ore are provided in the following table:

When the metals are processed and refined, the impurities are removed.

The company wants to know the amount of each ore to use per ton of the alloy that will minimize the cost per ton of the alloy.

a. Formulate a linear programming model for this problem.

b. Solve the model by using the computer.

19. As a result of a recently passed bill, a congressman’s district has been allocated $4 million for programs and projects. It is up to the congressman to decide how to distribute the money. The congressman has decided to allocate the money to four ongoing programs because of their importance to his district – a job training program, a parks project, a sanitation project, and a mobile library. However, the congressman wants to distribute the money in a manner that will please the most voters, or, in other words, gain him the most votes in the upcoming election. His staff’s estimates of the number of votes gained per dollar spent for the various programs are as follows.

In order also to satisfy several local influential citizens who financed his election, he is obligated to observe the following guidelines:

· None of the programs can receive more than 40% of the total allocation.

· The amount allocated to parks cannot exceed the total allocated to both the sanitation project and the mobile library

· The amount allocated to job training must at least equal the amount spent on the sanitation project.

Any money not spent in the district will be returned to the government; therefore, the congressman wants to spend it all. The congressman wants to know the amount to allocate to each program to maximize his votes.

a. Formulate a linear programming model for this problem.

b. Solve the model by using the computer.

20. Anna Broderick is the dietician for the State University football team, and she is attempting to determine a nutritious lunch menu for the team. She has set the following nutritional guidelines for each lunch serving:

· Between 1,500 and 2,000 calories

· At least 5 mg of iron

· At least 20 but no more than 60 g of fat

· At least 30 g of protein

· At least 40 g of carbohydrates

· No more than 30 mg of cholesterol

She selects the menu from seven basic food items, as follows, with the nutritional contributions per pound and the cost as given:

The dietician wants to select a menu to meet the nutritional guidelines while minimizing the total cost per serving.

a. Formulate a linear programming model for this problem.

b. Solve the model by using the computer

c. If a serving of each of the food items (other than milk) was limited to no more than a half pound, what effect would this have on the solution?

22. The Cabin Creek Coal (CCC) Company operates three mines in Kentucky and West Virginia, and it supplies coal to four utility power plants along the East Coast. The cost of shipping coal from each mine to each plant, the capacity at each of the three mines and the demand at each plant are shown in the following table:

The cost of mining and processing coal is $62 per ton at mine 1, $67 per ton at mine 2, and $75 per ton at mine 3. The percentage of ash and sulfur content per ton of coal at each mine is as follows:

Each plant has different cleaning equipment. Plant 1 requires that the coal it receives have no more than 6% ash and 5% sulfur; plant 2 coal can have no more than 5% ash and sulfur combined; plant 3 can have no more than 5% ash and 7% sulfur; and plant 4 can have no more than 6% ash and sulfur combined. CCC wabts to determine the amount of coal to produce at each mine and ship to its customers that will minimize its total cost.

a. Formulate a linear programming model for this problem.

b. Solve this model by using the computer.

36. Joe Henderson runs a small metal parts shop. The shop contains three machines – a drill press, a lathe, and a grinder. Joe has three operators, each certified to work on all three machines. However, each operator performs better on some machines than on others. The shop has contracted to do a big job that requires all three machines. The times required by the various operators to perform the required operations on each machine are summarized as follows:

Joe Henderson wants to assign one operator to each machine so that the topal operating time for all three operators is minimized.

a. Formulate a linear programming model for this problem.

b. Solve the model by using the computer

c. Joe’s brother, Fred, has asked him to hire his wife, Kelly, who is a machine operator. Kelly can perform each of the three required machine operations in 20 minutes. Should Joe hire his sister-in-law?

43. The Cash and Carry Building Supply Company has received the following order for boards in three lengths:

The company has 25-foot standard-length boards in stock. Therefore, the standard-length boards must be cut into the lengths necessary to meet order requirements. Naturally, the company wishes to minimize the number of standard-length boards used.

a. Formulate a linear programming model for this problem.

b. Solve the model by using the computer

c. When a board is cut in a specific pattern, the amount of board left over is referred to as “trim-loss.” Reformulate the linear programming model for this problem, assuming that the objective is to minimize trim loss rather than to minimize the total number of boards used, and solve the model. How does this affect the solution?

Week 8 Assignment 1

Assignment Week-8: Case Problem “Julia’s Food Booth”

Complete the “Julia’s Food Booth” case problem on page 109 of the text.

Note: Please address ONLY issues A, B, and C. You need not do part-D

 

Click the link above to submit your assignment.

Students, please view the “Submit a Clickable Rubric Assignment” in the Student Center.

Instructors, training on how to grade is within the Instructor Center.

Assignment 1. Linear Programming Case Study

Your instructor will assign a linear programming project for this assignment according to the following specifications.

It will be a problem with at least three (3) constraints and at least two (2) decision variables. The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions). The problem will also include a component that involves sensitivity analysis and the use of the shadow price.

You will be turning in two (2) deliverables, a short writeup of the project and the spreadsheet showing your work.

Writeup.

Your writeup should introduce your solution to the project by describing the problem. Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution. Identify each variable and explain the criteria involved in setting up the model. This should be encapsulated in one (1) or two (2) succinct paragraphs.

After the introductory paragraph, write out the L.P. model for the problem. Include the objective function and all constraints, including any non-negativity constraints. Then, you should present the optimal solution, based on your work in Excel. Explain what the results mean.

Finally, write a paragraph addressing the part of the problem pertaining to sensitivity analysis and shadow price.

Excel.

As previously noted, please set up your problem in Excel and find the solution using Solver. Clearly label the cells in your spreadsheet. You will turn in the entire spreadsheet, showing the setup of the model, and the results.

 

Week 9 homework

MAT 540 Week 9 Homework Chapter 5

6. The Livewright Medical Supplies Company has a total of 12 salespeople it wants to assign to three regions – the South, the East, and the Midwest. A salesperson in the South earns $600 in profit per month of the company, a salesperson in the East earns $540, and a salesperson in the Midwest earns $375. The southern region can have a maximum assignment of 5 salespeople. The company has a total of $750 per day available for expenses for all 12 salespeople. A salesperson in the South has average expenses of $80 per day, a salesperson in the East has average expenses of $70 per day, and a salesperson in the Midwest has average daily expenses of $50. The company wants to determine the number of salespeople to assign to each region to maximize profit.

a. Formulate an integer programming model for this problem

b. Solve this model by using the computer.

10. Solve the following mixed integer linear programming model by using the computer:

Maximize Z = 5 x1 + 6 x2 + 4 x3

Subject to

5 x1 + 3 x2 + 6 x3 ? 20

x1 + 3 x2 ? 12

x1, x3? 0

x2 ? 0 and integer

14. The Texas Consolidated Electronics Company is contemplating a research and development program encompassing eight research projects. The company is constrained from embarking on all projects by the number of available management scientists (40) and the budget available for R&D projects ($300,000). Further, if project 2 is selected, project 5 must also be selected (but not vice versa). Following are the resource requirements and the estimated profit for each project.

Formulate the integer programming model for this problem and solve it using the computer.

20. During the war with Iraq in 1991, the Terraco Motor Company produced a lightweight, all-terrain vehicle code-named “J99-Terra” for the military. The company is now planning to sell the Terra to the public. It has five plants that manufacture the vehicle and four regional distribution centers. The company is unsure of public demand for the Terra, so it is considering reducing its fixed operating costs by closing one or more plants, even though it would incur an increase in transportation costs. The relevant costs for the problem are provided in the following table. The transportation costs are per thousand vehicles shipped; for example, the cost of shipping 1,000 vehicles from plant 1 to warehouse C is $32,000.

Formulate and solve an integer programming model for this problem to assist the company in determining which plants should remain open and which should be closed and the number of vehicles that should be shipped from each plan to each warehouse to minimize total cost.

Week 10 Homework

Click the link above to submit your homework assignment.

Complete the following problems from Chapter 6:

• Problems 4, 6, 36, 48

Week 8 discussion

Practice setting up linear programming models for business applications

Select an even-numbered LP problem from the text, excluding 14, 20, 22, 36 (which are part of your homework assignment). Formulate a linear programming model for the problem you select.

 

DISCUSSIONS

Please respond to the following:

· Please go over the entire syllabus. List three things you may already know something about and three things you wish to know more about, in the content of the course.

 

Week 2 discussion

In your own words, explain how to obtain the “expected value of perfect information” for any payoff table, which has probabilities associated with each state of nature. Then, provide an example, drawing from any of the payoff tables in Problems 1-17 in the back of Chapter 12. If no probabilities are given for the states of nature, then assume equal likelihood.

 

Week 3 discussion

Discuss Simulation
Select one (1) of the following topics for your primary discussion posting:

· Identify the part of setting up a simulation in Excel that you find to be the most challenging, and explain why. Identify resources that can help you with that.

· Explain how simulation is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting.

 

Week 4 discussion

Discuss Forecasting Methods

Select one (1) of the following topics for your primary discussion posting:

· Identify any challenges you have in setting up a time-series analysis in Excel. Explain what they are and why they are challenging. Identify resources that can help you with that.

· Explain how forecasting is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting.

 

 

Week 5 discussion

“Reflection to date” Please respond to the following:
· In a paragraph, reflect on what you’ve learned so far in this course. Identify the most interesting, unexpected, or useful thing you’ve learned and explain why

 

 

Week 6 discussion

 

Discuss LP Models

Select one (1) of the following topics for your primary discussion posting:

· The objective function always includes all of the decision variables, but that is not necessarily true of the constraints. Explain the difference between the objective function and the constraints. Then, explain why a constraint need not refer to all the variables.

· Pick any constraint from any problem in the text, and explain how to plot the line that corresponds to that constraint.

Bottom of Form

 

Week 7 discussion

Discuss sensitivity analysis

Select one (1) of the following topics for your primary discussion posting:

· Identify any challenges you have in setting up a linear programming problem in Excel, and solving it with Solver. Explain exactly what the challenges are and why they are challenging. Identify resources that can help you with that.

· Explain what the shadow price means in a maximization problem. Explain what this tells us from a management perspective.

 

Week 8 discussion

Practice setting up linear programming models for business applications

Select an even-numbered LP problem from the text, excluding 14, 20, 22, 36 (which are part of your homework assignment). Formulate a linear programming model for the problem you select.

 

 

Week 9 Discussion

Discuss characteristics of integer programming problems

Select one (1) of the following topics for your primary discussion posting:

· Explain how the applications of Integer programming differ from those of linear programming. Give specific instances in which you would use an integer programming model rather than an LP model. Provide real-world examples.

· Identify any challenges you have in setting up an integer programming problem in Excel, and solving it with Solver. Explain exactly what the challenges are and why they are challenging. Identify resources that can help you with that.

Week 10 discussion

 

Week 10 Discussion

Discussion assignment and transshipment problems

Select one (1) of the following topics for your primary discussion posting:

· Explain the assignment model and how it facilitates in solving transportation problems. Determine the benefits to be gained from using this model.

· Identify any challenges you have in setting up an transshipment model in Excel, and solving it with Solver. Explain exactly what the challenges are and why they are challenging. Identify resources that can help you with that.

Week 11 – Reflection to date

 

·“Reflection to date” Please respond to the following:

• In a paragraph, reflect on what you’ve learned in this course. Identify the most interesting, unexpected, or useful thing you’ve learned, and explain how it can be applied to your work or daily life in some manner.