Explain the concept of time utility with suitable example.
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- Percentage Service Provided toDepartment Cost S1 S2 P1 P2Service 1 (S1) $ 112,000 0% 40% 40% 20%Service 2 (S2) 44,000 20 0 40 40Production 1 (P1) 345,000Production 2 (P2) 216,000Total $ 717,000Brief Exercises 7-15 and 7-16 require the following information:7-15 What percentage of S1’s costs is allocated to P1 and to P2 under the direct method?7-16 What percentage of S2’s costs is allocated to P1 and to P2 under the direct method?What are the constraintsb. The Healthy Food Restaurant, a 24-hour restaurant, faces changing requirements from hour tohour. More workers are needed for peak hours, and fewer are needed in between. The followingTable 6 (below) shows the worker requirement for the first 12 hours in the restaurant:Table 6. Staff Requirement at the Healthy Food RestaurantTime Period 10AM11AM12PM1PM2PM3PM4PM5PM6PM7PM8PM9PMRequirement 8 10 12 12 9 7 6 7 9 10 12 8AssignedOn DutyOverstaffed8(i) You are required to apply the first-hour principle to staff each hour with the required number ofcafeteria staff, showing how many staff are on duty each given hour, the number of staffyou have assigned to work each hour and any overstaffing for each hour. i. Schedule the staff to work in 8-hour shifts.
- 1 Infinite source. One of the features of a new machine shop will be a well-stocked tool crib. The manager of the shop must decide on the number of attendants needed to staff the crib. Attendants willreceive $9 per hour in salary and fringe benefits. Mechanics’ time will be worth $30 per hour, whichincludes salary and fringe benefits plus lost work time caused by waiting for parts. Based on previousexperience, the manager estimates requests for parts will average 18 per hour with a service capacity of 20 requests per hour per attendant. How many attendants should be on duty if the manager iswilling to assume that arrival and service rates will be Poisson-distributed? (Assume the number ofmechanics is very large, so an infinite-source model is appropriate.)The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability: Labor-Hours Required Department A B с (hours/unit) Product 1 Product 2 Hours Available Production 1.00 0.30 Profit contribution/unit $30.00 0.20 38.27 0.35 0.20 0.50 $15.00 (a) Develop a linear programming model of the Hartman Company problem. Solve the model to determine the optimal production quantities of products 1 and 2. If required, round your answer to two decimal places. Product 1 Product 2 69.77 M 95 72.09 38 50 (b) In computing the profit contribution per unit, management does not deduct labor costs because they are considered fixed for the upcoming planning period. However, suppose that overtime can be scheduled in some of the departments. Which departments would you recommend scheduling for overtime? Dept A What is the upper limit of what…Problem 3-11 Future Value of Reduced Spending [LO3-4] Brenda plans to reduce her spending by $80 a month. Calculate the future value of this increase in savings over the next 10 years. (Assume an annual deposit to her savings account, and an annual interest rate of 4 percent.) (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D) Note: Use appropriate factor(s) from the tables provided. Round time value factor to 3 decimal places and final answer to 2 decimal places. Future value
- DATE: NO: 4. Fach coffee table produced by profit of $9. Each bookcase yields a by Robert Wast Designers nets the firm a $412 profit. West's firm is small and its resources limited. West's firm is small and ite resources limited. During any given production period C of I week ) 10 gallons of varnish and 2 leng ths of high-quality rednood are available . Each coffee table requires approximately I gallon of varnish and I length of reduced Each bookcase takes I gallon of varnish and 2 lengths of nood. Formulae West's production-mix decision as a linear programaming problem, and solve . produced each week ? Who wing tabus and bookcases should be How Many will the maximum profit be ?subject: Quantitative Analysis For Business Please answer both. 22. Dawn owns a dog day care company that offers kenneling services for dogs that weigh less than 30 pounds. Dawn has decided to expand the building that houses the kennels by 1,000 square feet. A friend suggested that Dawn consider three expansion options: 1) only board dogs under 30 pounds; 2) only board dogs larger than 30 pounds; or 3) split the new space, allocating 50% to dogs under 30 pounds and 50% to dogs over 30 pounds. Expansion Options Strong Economy Weak Economy Likelihood 40% Likelihood 60% Only dogs under 30 pounds $19,000 increase in revenue $18,000 increase in revenue Only large dogs $22,000 increase in revenue $15,000 increase in revenue Split the space between small and large dogs $20,000 increase in revenue $16,000 increase in revenue Based on the table shown above, which option has the highest expected value? Splitting the space between small and large…Subject Name: Simulation & Modelling Q. Describe the following : • Simulation of a Multi-server queueing system • Simulation of an inventory system
- Q-1)A glass melting furnaces feed auto plumping machines for producing the electric lamp casing (balloon),there are two main kinds can be produced, the original and the big one, they must produce at least 25 million of the original but not accede over 35 million ,and they must produce 3 million of the big one, however the ratio of the original must be at least 5 times to the big one which make a profit double the original, producing million of the big one utilize 5% Of the available materials but the original utilize 2.5% of the available materials ,For this problem ,the objective function is: Max Z =0.5X1+2X2 O MIN Z =2X1+X2 O Max Z =2X1+2X2 O Max Z =2X1+X2Practice example. Please shoow solution.Explain the advantage of using probabilistic time estimate