Operations Research : Applications and Algorithms
4th Edition
ISBN: 9780534380588
Author: Wayne L. Winston
Publisher: Brooks Cole
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Expert Solution & Answer
Chapter 6.8, Problem 6P
Explanation of Solution
Finding the objective function:
- Contribution of Product 1 to Profit is
- Contribution of Product 2 to Profit
- Thus firm wishes to maximize
Thus the LP for the problem is,
Explanation of Solution
b.
Payment the company should make:
- The shadow price for both skilled and unskilled labour is 0.
- Both the labour constraints are nonbinding also.
- The company is not willing to pay
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Using Python/PuLP solve
At the beginning of month 1, Finco has $400 in cash. At the beginning of months 1, 2, 3, and 4, Finco receives certain revenues, after which it pays bills (see Table 2 below). Any money left over may be invested for one month at the interest rate of 0.1% per month; for two months at 0.5% per month; for three months at 1% per month; or for four months at 2% per month. Use linear programming to determine an investment strategy that maximizes cash on hand at the beginning of month 5. Formulate an LP to maximize Finco’s profit.
Table 2
Month
Revenues ($)
Bills ($)
1
400
600
2
800
500
3
300
500
4
300
250
The Pee Tool Shop has four heavy presses it uses to stamp out prefabricated metal covers and housings
for electronic consumer products. All four presses operate differently and are of different sizes.
Currently the firm has a contract to produce three products. The contract calls for 400 units of product
1; 570 units of product 2; and 320 units of product 3. The time (in minutes) required for each product
to be produced on each machine is as follows: SOLVE THE MODEL BY USING MS EXCEL
Wilson Creek Farm has 200 acres of land available for planting. The owner is considering planting three
crops: corn, soybeans, and wheat. The production yield, water requirements, and labor requirements for
a salable crop are given here. The owner expects to have only 35,000 gallons of water available per week
to use for the crops, and during the growing season he will only have 8000 person-hours of labor available.
The expected profit per bushel of each crop is $1.00 for corn, $1.60 for soybeans, and $3.00 for wheat.
The owner can use any mix of crops (i.e., he can plant the same crop on all 200 acres or he can plant all
three crops in different proportions).
d. Solve the problem using Excel Solver Tool. Add supporting pictures from the software for each step.
Discuss your output in line with the given reports from Excel.
Bushels/ Acre Water Required
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(gal/acre/week)
Crop
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Corn
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Wheat 80
200
150
125
Person-Hours Labor
Required/Acre
35
40
30
Chapter 6 Solutions
Operations Research : Applications and Algorithms
Ch. 6.1 - Prob. 1PCh. 6.1 - Prob. 2PCh. 6.1 - Prob. 3PCh. 6.1 - Prob. 4PCh. 6.1 - Prob. 5PCh. 6.2 - Prob. 1PCh. 6.2 - Prob. 2PCh. 6.3 - Prob. 1PCh. 6.3 - Prob. 2PCh. 6.3 - Prob. 3P
Ch. 6.3 - Prob. 4PCh. 6.3 - Prob. 5PCh. 6.3 - Prob. 6PCh. 6.3 - Prob. 7PCh. 6.3 - Prob. 8PCh. 6.3 - Prob. 9PCh. 6.4 - Prob. 1PCh. 6.4 - Prob. 2PCh. 6.4 - Prob. 3PCh. 6.4 - Prob. 4PCh. 6.4 - Prob. 5PCh. 6.4 - Prob. 6PCh. 6.4 - Prob. 7PCh. 6.4 - Prob. 8PCh. 6.4 - Prob. 9PCh. 6.4 - Prob. 10PCh. 6.4 - Prob. 11PCh. 6.4 - Prob. 12PCh. 6.4 - Prob. 13PCh. 6.5 - Prob. 1PCh. 6.5 -
Find the duals of the following LPs:
Ch. 6.5 - Prob. 3PCh. 6.5 - Prob. 4PCh. 6.5 - Prob. 5PCh. 6.5 - Prob. 6PCh. 6.6 - Prob. 1PCh. 6.6 - Prob. 2PCh. 6.7 - Prob. 1PCh. 6.7 - Prob. 2PCh. 6.7 - Prob. 3PCh. 6.7 - Prob. 4PCh. 6.7 - Prob. 5PCh. 6.7 - Prob. 6PCh. 6.7 - Prob. 7PCh. 6.7 - Prob. 8PCh. 6.7 - Prob. 9PCh. 6.8 - Prob. 1PCh. 6.8 - Prob. 2PCh. 6.8 - Prob. 3PCh. 6.8 - Prob. 4PCh. 6.8 - Prob. 5PCh. 6.8 - Prob. 6PCh. 6.8 - Prob. 8PCh. 6.8 - Prob. 9PCh. 6.8 - Prob. 10PCh. 6.8 - Prob. 11PCh. 6.9 - Prob. 1PCh. 6.9 - Prob. 2PCh. 6.9 - Prob. 3PCh. 6.10 - Prob. 1PCh. 6.10 - Prob. 2PCh. 6.10 - Prob. 3PCh. 6.11 - Prob. 1PCh. 6.11 - Prob. 3PCh. 6.11 - Prob. 4PCh. 6.12 - Prob. 5PCh. 6.12 - Prob. 6PCh. 6.12 - Prob. 7PCh. 6 - Prob. 1RPCh. 6 - Prob. 2RPCh. 6 - Prob. 3RPCh. 6 - Prob. 4RPCh. 6 - Prob. 5RPCh. 6 - Prob. 6RPCh. 6 - Prob. 7RPCh. 6 - Prob. 8RPCh. 6 - Prob. 9RPCh. 6 - Prob. 10RPCh. 6 - Prob. 11RPCh. 6 - Prob. 13RPCh. 6 - Prob. 14RPCh. 6 - Prob. 15RPCh. 6 - Prob. 17RPCh. 6 - Prob. 18RPCh. 6 - Prob. 19RPCh. 6 - Prob. 20RPCh. 6 - Prob. 21RPCh. 6 - Prob. 22RPCh. 6 - Prob. 25RPCh. 6 - Prob. 29RPCh. 6 - Prob. 33RPCh. 6 - Prob. 34RPCh. 6 - Prob. 35RPCh. 6 - Prob. 36RPCh. 6 - Prob. 37RP
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