Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
WidgetsRUs is deciding on a widget production schedule for the next three days. They currently have 0 widgets in inventory and they are looking to satisfy a demand of 100 widgets at the end of day 3. Worker 1 is scheduled to work on days 1 and 2 and Worker 2 is scheduled to work on days 2 and 3. Each worker produces 3 widgets an hour, and is allowed to work at most 14 hours on a single day and at most 24 hours over the three day production period. Further, the total labor (hours worked by both workers) on any day cannot exceed 20 hours. On day 1 the workers are paid $10 an hour, on day 2 they are paid $8 an hour and on day 3 the workers are paid $7 an hour. Find a labor schedule for both workers which minimizes labor costs while still meeting the 100 units of demand at the end of day 3. Formulate the problem as a linear program. Solve the problem in excel and use the sensitivity report to answer the following questions which you may assume are all independent. • You receive a request for an extra 2 widgets at price of $3 per widget (assume the additional profit from this sale would be $6). Should you increase production to 102 widgets? • How much does the hourly wage on day 1 need to decrease in order to start producing on day 1 in the optimal solution?
Briefly explain the difference between economic forecasting and business forecasting. What is the best economic tool to help the leaders to see future better than others economically 6 to 9 months before the cycles of the business cycles of the US ec..
Illustrat what are the advantages of using capital in the production process. What is meant by the term "division of labor".
The wage paid by a firm buying labor in a perfectly competitive market: The wage paid by a firm buying labor in a perfectly competitive market:
When writing technical reports, be aware that the numbers, formulas, and concepts can sometimes be overwhelming for the reader. Illustrate how to meet that challenge by doing the following: Identify which forecasting method would best fit the need to..
Why was the Teamsters Union so opposed to allowing Mexican truckers to deliver their goods in the United States.
Galvanized Products is considering the purchase of a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $100,000. Galvanized Products is planning to borrow 1/4th of the purchase price from a ban..
Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.
All economic systems (capitalist, communist, or any other) face similar economic problems. Which of the following questions would NOT be faced by all economies?
You would like to save money to buy a new car that costs $10,000, but currently only have $8,000 and you know you won’t have any further excess savings to contribute more to it. You have available to you a fairly good savings account which pays conti..
Illustrate what do you think will be the impact of the federal reserve bank $600 billion purchase. Apply ALL of your knowledge on MONETARY POLICY to answer this question.
Able Plastics, an injection-molding firm, has negotiated a contract with a national chain of department stores. Plastic pencil boxes are to be produced for a 2-year period. Able Plastics has never produced the item before and requires all new dies. I..
A university spent 1.8 million to install solar panels atop a parking garage. These panels will have a capacity of 500kw, with a life expectancy of 20yrs and suppose the discount rate is 10%. If electricity can be purchased for cost of $0.10 per kwh,..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd