What are the objective coefficient ranges for the three, Ask an Expert

Statistics

"Vollmer manufacturing makes three components for sale to refrigeration companies. The components are processed on two machines: a shaper and a grinder. The times (in minutes) required on each machine are as follows:

Component Machine

Shaper Grinder
1 6 4
2 4 5
3 4 2

The shaper is available for 120 hours, and the grinder is available for 110 hours. No more than 200 units of component3 can be sold, but up to 1000 units of each of the other components can be sold. In fact, the company already has orders for 600 units of component1 that must be satisfied. The profit contributions for components 1, 2 and 3 are $8, $6, and $9 respectively.

a. Formulate and solve for recommended production qualities.
b. What are the objective coefficient ranges for the three components? Interpret these ranges for company management.

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9107381

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Explain how the company newmans own brand fulfills the

Explain how the company Newman's Own brand fulfills the definition of a business for profit and a non-profit business at the same time. Consider in the response the functions of business, entrepreneurship and production ...

A student must answer 15 truefalse questions for a test but

A student must answer 15 true/false questions for a test, but the student did not study well. If the student randomly guesses on each question , what is the probability that the student answers 3 questions correctly?

Suppose a stock has just paid a 44 per share dividend d0

Suppose a stock has just paid a $4.4 per share dividend (D 0 ). The dividend is projected to grow at 15% for the next three years, then 6% thereafter indefinitely. What should be the amount of dividend in four year ...

Question 1 a random variable x is defined as the difference

Question: 1) A random variable X is defined as the difference between the higher value and the lowervalue when two dice are thrown. If they have the same value, X is zero. a.) Find the probability distribution for X. b.) ...

The average price of a television on a certain web site is

The average price of a television on a certain Web site is ?$760. Assume the price of these televisions follows the normal distribution with a standard deviation of ?$190. Complete parts a through d below. What is the pr ...

Lee smith imports paid a 100 per share annual dividend last

Lee Smith Imports paid a $1.00 per share annual dividend last week. Dividends are expected to increase by 5% annually. What is one share of this stock worth to you today if the appropriate discount rate is 14%? a. $7.14 ...

Owning a business what do you see as the biggest challenge

Owning a business, what do you see as the biggest challenge or challenges in developing a useful forecasting?

Given the following values 20 m 16 07 conduct a

Given the following values: = 20, M = 16, = 0.7, conduct a one-sample z test at a .05 level of significance. What is the decision for a two-tailed test? A) to reject the null hypothesis B) to retain the null hypothesis C ...

List three ways organizations provide context for their

List three ways organizations provide context for their financial ratios, in other words what is the basis of on which they compare their results?

A study was conducted concerning the use of glvoes among

A study was conducted concerning the use of glvoes among the nurses with 15 years or more experience. The study showed that only 1/6 of these nurses wear gloves during vascular access procedures. For a sample n=36 nurses ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert