Question: Problem 1. You are thinking of opening a small copy shop and rent a copier. It costs you $1,000 to rent a copier for a year and it costs you $0.03 per copy to operate a copier. Other fixed costs of running the store amount to $150 per month. You are planning to charge $0.10 per copy. You are open 365 days per year. A copier can make up to 80,000 copies per year.
(a) Given these assumptions, what level of daily demand will enable you to break even?
(b) Calculate the annual profits for specified (in this template) daily demands and graph them.
Problem 2. For a telephone survey, your department needs to contact at least 600 wives, 480 husbands, 400 single adult males, and 440 single adult females. It costs $3.20 to make a daytime call and $6.00 to make an evening cal The table below lists the results that can be expected. For example, 30% of all daytime calls are answered by wives, and 15% of all evening calls are answeredby single males. Because of a limited staff; at most 40% of all phone calls can be evening calls.
- Create a model to determine how to minimize the cost of completing the survey.
Problem 3. Bark's Pet Company produces camed cat food called Meow Chow and canned dog food called Bow Chow The company produces the pet food by blending horse meat, ground fish, and a cereal additive. Each week the company has 600 pounds of horse meat, 800 pounds of gromdfish, and 1,000 pounds of cereal additive available to produce both kinds of pet food Meow Chow must be at least half fisb, and Bow Chow must be at least halfhorse meat. The company has 2,350 one pound cans available each week. A can of Meow Chow earns $1.10 in profit, and a can of Bow Chow earns $1.40 in profit.
The company wants to create a model that will help to maximize its weekly profit.
Problem 4. Widgetco produces widgets at plants 1 and 2. It costs 125x/I2 dollars to produce x units at plant 1 and 235xv3 dollars to produce x units at plant 2. Each plant can produce up to 500 units. Each unit produced can be sold for $10. At most 800 widgets can be sold.
- Determine how Widgetco can maximize its profit.
- Costs of producing x units at each plant are of form axb, where
Plant 1 Plant 2
a 125
b 1/2
Information related to above question is enclosed below:
Attachment:- HBU-MGMT5260-MidTermExamDOC-1607.rar