QuickHelper

(10)

$20/per page/

About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 353 Weeks Ago, 1 Day Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Business & Finance Posted 07 Jun 2017 My Price 15.00

only except please if you understand and can do with solver tool and memo

Question description

 

 

PLEASE PLEASE BE AS CLOSE AS POSSIBLE TO THE EXAMPLE BELOW PLEASE!!!! I NEED GOOD GRADE

13-7.  Klein Industries manufactures three types of portable air compressors: small, medium, and large, which have unit profits of $20.50, $34.00, and $42.00, respectively. The projected monthly sales are: 
 

    Small  Medium  Large 

 Minimum  14,000   6,200  2,600 

 Maximum  21,000  12,500  4,200 

 The production process consists of three primary activities: bending and forming, welding, and painting. The amount of time in minutes needed to process each product in each department is shown below: 

    Small  Medium  Large  Available Time  
Bending/forming      0.4   0.7   0.8   23,400 

Welding   0.6  1.0   1.2         23,400 

Painting                     1.4  2.6         3.1   46,800 

   
How many of each type of air compressor should the company produce to maximize profit? 

 a.  Formulate and solve a linear optimization model using the auxiliary variable cells method and write a short memo to the production manager explaining the sensitivity information. 

 b.  Solve the model without the auxiliary variables and explain the relationship between the reduced costs and the shadow prices found in part a. 


Solution Tip: You must use Solver tool in Excel. Set your constraints right, and fill in the solver dialogue box properly. Be sure to review links provided in the last lesson, or in one of the announcements in the first week of class. Here is a You Tube link you could view:

http://www.youtube.com/watch?v=Oyc0k9kiD7o

https://www.dropbox.com/s/tuipc31yd3geulk/2013-09-22%2010.05%20BUSN625.wmv

 

Given that many of you had issues downloading and setting up Premium Solver's 15-day trial version, I will give you full credit for the homework assignment if you do the following:

  • Correctly set up and solve the Excel optimization problem that will result in the correct production decision and profit maximization.  Please remember that you must include your Excel spreadsheet in your submission.
  • Draft a managerial memo (either in MS Word or MS Excel) that will discuss:
    • Profit optimization decision and the number of units produced.
    • Binding constraints of your production process.
    • Managerial actions that should be taken in the future to increase maximum profits (these should be based on your binding constraints - e.g., can you increase capacity of your plant to eliminate bottlenecks?)

If you are able to provide sensitivity and shadow price analysis, you will receive extra credit - up to 15 additional points.

 

Answers

QuickHelper
(10)
Status NEW Posted 07 Jun 2017 06:06 PM My Price 15.00

Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k Y-----------ou -----------for----------- us-----------ing----------- ou-----------r w-----------ebs-----------ite----------- an-----------d a-----------cqu-----------isi-----------tio-----------n o-----------f m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l

Not Rated(0)