Questions from General Business Management

Q: Consider the following LP problem: Maximize profit =

Consider the following LP problem: Maximize profit = 5X + 6 Y subject to 2X + Y ≤ 120 2X + 3Y ≤ 240 X, Y ≥ 0 (a) What is the optimal solution to this problem? Solve it graphically. (b)...

Q: Consider the LP formulation given in Problem 7-31. If

Consider the LP formulation given in Problem 7-31. If the second constraint is changed from 2X + 3Y ≤ 240 to 2X + 4Y ≤ 240, what effect will this have on the optimal solution? Problem 7-31: Consider...

Q: The computer output on the next page is for a product mix

The computer output on the next page is for a product mix problem in which there are two products and three resource constraints. Use the output to help you answer the following questions. Assume that...

Q: Graphically solve the following problem: Maximize profit = 8X1

Graphically solve the following problem: Maximize profit = 8X1 + 5X2 subject to X1 + X2 ≤ 10 X1 ≤ 6 X1, X2 Ú 0 (a) What is the optimal solu...

Q: The three princes of Serendip Went on a little trip.

The three princes of Serendip Went on a little trip. They could not carry too much weight; More than 300 pounds made them hesitate. They planned to the ounce. When they returned to Ceylon They discove...

Q: Bhavika Investments, a group of financial advisors and retirement planners,

Bhavika Investments, a group of financial advisors and retirement planners, has been requested to provide advice on how to invest $200,000 for one of its clients. The client has stipulated that the mo...

Q: Refer to the Bhavika Investments (Problem 7-37) situation

Refer to the Bhavika Investments (Problem 7-37) situation once again. It has been decided that, rather than minimizing risk, the objective should be to maximize return while placing a restriction on...

Q: The Feed ’N Ship Ranch fattens cattle for local farmers and ships

The Feed ’N Ship Ranch fattens cattle for local farmers and ships them to meat markets in Kansas City and Omaha. The owners of the ranch seek to determine the amounts of cattle feed...

Q: The Weinberger Electronics Corporation manufactures four highly technical products that it supplies

The Weinberger Electronics Corporation manufactures four highly technical products that it supplies to aerospace firms that hold NASA contracts. Each of the products must pass through the following de...

Q: What is the purpose of Bayesian analysis? Describe how you would

What is the purpose of Bayesian analysis? Describe how you would use Bayesian analysis in the decision-making process.