Questions from Management Science

Q: A company has five factories. The x- and y-

A company has five factories. The x- and y-coordinates of the location of each factory are given in the file. The company wants to locate a warehouse at a point that minimizes the sum of the squared d...

Q: Monroe County is trying to determine where to place the county fire

Monroe County is trying to determine where to place the county fire station. The locations of the county’s four major towns are as follows: (10, 20), (60, 20), (40, 30), and (80, 60)...

Q: Suppose you have a linear optimization model where you are trying to

Suppose you have a linear optimization model where you are trying to decide which products to produce to maximize profit. What does the additive assumption imply about the profit objective? What does...

Q: Consider three investments. You are given the following means, standard

Consider three investments. You are given the following means, standard deviations, and correlations for the annual return on these three investments. The means are 0.12, 0.15, and 0.20. The standard...

Q: You have $50,000 to invest in three stocks.

You have $50,000 to invest in three stocks. Let Ri be the random variable representing the annual return on $1 invested in stock i. For example, if Ri = 0.12, then $1 invested in stock i at the beginn...

Q: An oil company must determine how many barrels of oil to extract

An oil company must determine how many barrels of oil to extract during each of the next two years. If the company extracts x1 million barrels during year 1, each barrel can be sold for 80 - x1 dollar...

Q: Suppose that you are hiring a weather forecaster to predict the probability

Suppose that you are hiring a weather forecaster to predict the probability that next summer will be rainy or sunny. The following suggests a method that can be used to ensure that the forecaster is a...

Q: The cost of producing x units of a product during a month

The cost of producing x units of a product during a month is x1/2 dollars. Show that the minimum cost method of producing 40 units during the next two months is to produce all 40 units during a single...

Q: Four items are for sale in the Dollar Value store. The

Four items are for sale in the Dollar Value store. The product and sum of their prices is $7.11. What is the price of each item?

Q: Most economies have a goal of maximizing the average consumption per period

Most economies have a goal of maximizing the average consumption per period. Assume that during each year, an economy saves the same (to be determined) percentage S of its production. During a year in...