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[Business Analytics/Operational Management]
The Oak Works is a family-owned business that makes handcrafted dining room tables and chairs. They obtain the oak from a local farm tree farm, which ships them 2,500 pounds of oak each month. Each table uses 50 pounds of oak while each chair uses 25 pounds of oak. The family builds all the furniture itself and has 480 hours of labor available each month. Each table or chair requires six hours of labor. Each table nets Oak Works $400 in profit, while each chair nets $100 in profit. Since chairs are often sold with tables, they want to produce at least twice as many chairs as tables. The Oak Works would like to decide how many tables and chairs to produce so as to maximize profit.
a. Formulate algebraically the linear programming model of this problem.
b. Formulate this same linear programming problem on a spreadsheet and SOLVE using Excel solver (Provide a printout of the corresponding "Excel Spreadsheet" and the "Answer Report")
When Andy Pforzheimer was in college, he took a road trip to New Orleans that would change his life. The sights and sounds of the Big Easy were thrilling to the nineteen-year-old student, but it was the smells and tastes of the city restaurants that ..
Explain the choice among Portfolios A, B, and C using the Markowitz decision rule. Explain the choice among Portfolios A, B, and C assuming that borrowing and lending at a risk-free rate of R_F = 2 percent is possible.
While assessing performance of subordinates over past year, manager has rated all employees under him as average. Differentiate in internal-external recruiting.
A part of my 'Personal and Professional Development' Assignment says the following
Do you expect the U.S. dollar to maintain its position as the dominant currency in the foreign-exchange market or will the euro or the Chinese yuan supplant it? Explain your answer. [3] What would be the impact on world trade and investment if there ..
Explain the differences between maximum capacity and effective capacity.
Motivational theory applications argue for recognizing individual differences.
What are some of the social and cultural effects of the technology? How did the technology impact employment and production?
One of the principles of path-goal theory is to make the end goal valuable to workers. What could Daniel do to improve follower motivation in this area?
what are the social and security issues for individuals and organizations relative to person and business use of social media.
Kevin contacts an overseas manufacturer to get an update on the delivery of an outstanding order. Which acitivty is Kevin a part of?
Members of any team must value the significance of communication, particularly when setting goals and when attempting to solve problems. One form of communication—feedback—is most helpful when it is given in a descriptive fashion or offers suggestion..
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