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8. Recall the production model from Section 1.3: Мах 10х s.t. 5x s 40 x2 0 Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of production time for each unit produced. Use y as the number of units of product 2 produced. Problems 21 a. Show the mathematical model when both products are considered simultaneously. b. Identify the controllable and uncontrollable inputs for this model. Draw the flowchart of the input-output process for this model (see Figure 1.5). d. What are the optimal solution values of x and y? Is the model developed in part (a) a deterministic or a stochastic model? Explain. c. е.

8. Recall the production model from Section 1.3: Мах 10х s.t. 5x s 40 x2 0 Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of production time for each unit produced. Use y as the number of units of product 2 produced. Problems 21 a. Show the mathematical model when both products are considered simultaneously. b. Identify the controllable and uncontrollable inputs for this model. Draw the flowchart of the input-output process for this model (see Figure 1.5). d. What are the optimal solution values of x and y? Is the model developed in part (a) a deterministic or a stochastic model? Explain. c. е.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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8. Recall the production model from Section 1.3: Мах 10х s.t. 5x s 40 x 2 0 Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of production time for each unit produced. Use y as the number of units of product 2 produced. Problems 21 a. Show the mathematical model when both products are considered simultaneously. b. Identify the controllable and uncontrollable inputs for this model. c. Draw the flowchart of the input-output process for this model (see Figure 1.5). d. What are the optimal solution values of x and y? e. Is the model developed in part (a) a deterministic or a stochastic model? Explain.
Transcribed Image Text:8. Recall the production model from Section 1.3: Мах 10х s.t. 5x s 40 x 2 0 Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of production time for each unit produced. Use y as the number of units of product 2 produced. Problems 21 a. Show the mathematical model when both products are considered simultaneously. b. Identify the controllable and uncontrollable inputs for this model. c. Draw the flowchart of the input-output process for this model (see Figure 1.5). d. What are the optimal solution values of x and y? e. Is the model developed in part (a) a deterministic or a stochastic model? Explain.
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