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Outdoor furniture manufactures 2 products, benches and picnic tables. The firm has two main resources: its carpenters(labor force) and a supply of redwood for use in the furniture. During the next production cycle, 1200 hours of labor are available under a union agreement. The firm also has a stock of 3,500 feet of good-quality redwood. Each bench that they produce requires 4 labor hours and 10 feet of redwood; each picnic table takes 6 labor hours and 35 feet of redwood. Completed benches will yield a profit of $9 each, and tables will result in a profit of $20 each how many benches and tables should outdoor furniture produce to obtain the largest possible profit?
Woodco manufactures tables and chairs. Each table and chair must be made entirely out of oak or entirely out of pine. This posting contains solution to following linear programming maximization problem using excel solver.
Frank Hurley is the farmer with 250 acres on which he wishes to plant wheat and corn to maximize his expected return for season. Based upon the output, what key points would you recommend to Frank?
X and Y are foreign exchange traders in Germany. X agrees to sell 100 million Mexican pesos to Y for delivery within 1 week at an agreed price in German marks.
This response states operations managements. The roles and goals of health care operations managers are discussed as well. References are included.
Determine the problem as stochastic dynamic programming problem. Specify phases, states, decisions and the optimal value function.
Illustrate the business research and its purpose. Describe the business problem(s) under investigation.
Each coffee table produced by the Timothy Kent Designers nets firm profit of $9. Each bookcase yields a $12 profit. This post describes how to find out the objective function for maximizing total profits and provides the answer.
Compare and contrast the regulatory alternatives of the text in terms of the efficiency and efficacy these alternatives might provide to businesses and consumers.
Is the liquidated damage amount stated in the contract between Mica Co. and Pack Rat Storage valid, or is it an invalid penalty? How much in damages can Pack Rat Storage recover from Mica Co.?
Discuss the use of PERT/CPM techniques for managing projects. Describe what PERT/CPM does. Discuss advantages and disadvantages of using it.
RVW (Restored Volkswagens) buys 15 used VW's at each of two car auctions each week held at different locations. Formulate this problem as a transshipment linear programming model. Solve the problem using the computer. Provide a Excel file.
The solution discusses an ethical problem in workplace environment and solutions to solve the problem by using the Ethical Decision Model is as well explained. Also discussed is an opinion on how employee compensation should be determined based on..
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