Number of family residences to maximize rent income

Assignment Help Operation Management
Reference no: EM131682713

A realtor is developing a rental housing and retail area. The housing area consists of 3 types of housing: efficiency apartments, duplexes, and single-family homes. Maximum demand by potential renters is estimated to be 500 efficiency apartments, 300 duplexes and 250 single-family homes (and there is no need to build more houses than the demand), but the number of duplexes must equal at least 50% of the total number of efficiency apartments and single-family homes. For each efficiency, duplex and single-family apartment, there must be retail space of at least 10 ft^2, 15 ft^2 and 18 ft^2 respectively. However, land availability limits retail space to no more than 10,000 ft^2. The monthly rental income is estimated at $600, $750, and $1200 for efficiency, duplex and single family units respectively. The retail space rents for $100/ft^2. Formulate an LP that would find the amount of retail spare area and number of family residences to maximize rent income.

Reference no: EM131682713

Questions Cloud

Draw a customer benefit package : Draw a customer benefit package (CBP) for one of the following items. Explain how your CBP provides value to the customer.
Because of its excellent product and excellent location : Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and excellent location, demand has increased by 25% in the last year.
Manager understand the fundamentals of the law and ethics : Why is it important that a health information manager understand the fundamentals of the law and ethics?
Find the maximum profit of the company : Formulate a linear programming model for this problem and find the maximum profit of the company.
Number of family residences to maximize rent income : Formulate an LP that would find the amount of retail spare area and number of family residences to maximize rent income.
Discuss the unlawful and prohibited credit agreement : discuss the unlawful and prohibited credit agreement?
Ordering mickey mouse sweaters for disney on ice show : Ordering Mickey Mouse sweaters for "Disney on Ice" show.
Tons of articles floating around with speculations : There seems to be tons of articles floating around with speculations of what they plan to do with Whole Foods now.
Activities of nonprofit organizations and their leadership : Discuss various innovations affecting activities of nonprofit organizations and their leadership.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd