Reference no: EM131369879
Case Problem 1 PRODUCT MIX TJ’s, Inc., makes three nut mixes for sale to grocery chains located in the Southeast. The three mixes, referred to as the Regular Mix, the Deluxe Mix, and the Holiday Mix, are made by mixing different percentages of five types of nuts. In preparation for the fall season, TJ’s has just purchased the following shipments of nuts at the prices shown: Type of Nut Shipment Amount (pounds) Cost per Shipment ($) Almond 6000 7500 Brazil 7500 7125 Filbert 7500 6750 Pecan 6000 7200 Walnut 7500 7875 The Regular Mix consists of 15% almonds, 25% Brazil nuts, 25% filberts, 10% pecans, and 25% walnuts. The Deluxe Mix consists of 20% of each type of nut, and the Holiday Mix consists of 25% almonds, 15% Brazil nuts, 15% filberts, 25% pecans, and 20% walnuts. TJ’s accountant analyzed the cost of packaging materials, sales price per pound, and so forth, and determined that the profit contribution per pound is $1.65 for the Regular Mix, $2.00 for the Deluxe Mix, and $2.25 for the Holiday Mix. These figures do not include the cost of specific types of nuts in the different mixes because that cost can vary greatly in the commodity markets. Customer orders already received are summarized here: Type of Mix Orders (pounds) Regular 10,000 Deluxe 3,000 Holiday 5,000 Because demand is running high, it is expected that TJ’s will receive many more orders than can be satisfied. TJ’s is committed to using the available nuts to maximize profit over the fall season; nuts not used will be given to a local charity. Even if it is not profitable to do so, TJ’s president indicated that the orders already received must be satisfied.
ANSWER THE FOLLOWING
Sensitivity reports for linear programming are a a vital tool for proper interpretation and application. This week, we look into how this is done in more detail and how to apply to real-world situations.
Please respond to all of the following prompts:
Read through Case Problem 1, page 355.
a) In what type of circumstances would it be better to incorporate sensitivity analysis?
b) What purpose does Shadow Price serve in actual business cases? Find an example via internet searches.
|
Vice president of operations at a production
: Scenario: Imagine that you are the vice president of operations at a production or service organization. You have noticed that your organization's current operations strategy is not supporting the challenges that the organization is presently faci..
|
|
Rules of the innovate phase game
: What happens if the Executive workshop does not produce or agree on the “rules of the Innovate phase game”? That is, you have no constraints or guidance on the boundaries for the Innovate phase workshops. How should this be handled? Is it necessary t..
|
|
Drawbacks or risks of utilizing the services
: What are the benefits and drawbacks or risks of utilizing the services of market research firms? Are Tims concerns valid? Why or why not?
|
|
Enthusiastic and motivated
: What are some of the activities the BPM team could do to ensure the business are mentally (enthusiastic and motivated) ready for the implementation?
|
|
Incorporate sensitivity analysis
: Case Problem 1 PRODUCT MIX TJ’s, Inc., makes three nut mixes for sale to grocery chains located in the Southeast. The three mixes, referred to as the Regular Mix, the Deluxe Mix, and the Holiday Mix, are made by mixing different percentages of five t..
|
|
Find the cumulative distribution of returns
: Verify that P(x) is a probability distribution.- What is the probability that returns will be at least 12%?- Find the cumulative distribution of returns.
|
|
Estimate the speed of the river current
: A 0.30-m-diameter cork ball (SG = 0.21) is tied to an object on the bottom of a river as is shown in Fig. P9.78. Estimate the speed of the river current. Neglect the weight of the cable and the drag on it.
|
|
How would you respond to someone who presents this criticism
: Critics of qualitative research often posit that it is subjective due to the fact that the researcher collects the data. Therefore, the researcher's own prior experiences, prejudices, and attitudes may bias the data, and therefore, the results of ..
|
|
Discuss about the human trafficking victims trauma
: This assignment is focused on human trafficking victims trauma, and victim engagement. It is a 15 power point presentation with speaker notes.Trauma Impacts on victims/survivors (PTSD, brain, mind, psyche, body)Speaker notes of 75-100 words for eac..
|