Reference no: EM13478162

Assignment 12 <br/> <br/>1. Discuss use of Operation Research in development <br/> <br/> 2. Describe 2 methods how data required for a project that are not available can be estimated <br/> <br/> 3. Describe the use of LP in industrial production management <br/> <br/> <br/> <br/>Three types of cutting tools are produced in a factory using a lathe, a grinder and a polisher. The duration in hours required to produce one batch of tools on each of these machines are given in the table 1 along with costs, selling prices of each batch of tools and the minimum number of hours available on each machine per week. <br/> <br/>Table 1 <br/> <br/>Tool <br/> <br/>type <br/> <br/>Processing time (hrs.) per batch <br/> <br/>Cost <br/> <br/>(Rs.) per batch <br/> <br/>Selling prices (Rs.) per batch <br/> <br/>Lathe <br/> <br/>Grinder <br/> <br/>Polisher <br/> <br/>A <br/> <br/>7 <br/> <br/>2 <br/> <br/>5 <br/> <br/>100 <br/> <br/>145 <br/> <br/>B <br/> <br/>3 <br/> <br/>3 <br/> <br/>8 <br/> <br/>65 <br/> <br/>100 <br/> <br/>C <br/> <br/>4 <br/> <br/>4 <br/> <br/>2 <br/> <br/>80 <br/> <br/>120 <br/> <br/>per week <br/> <br/>50 <br/> <br/>46 <br/> <br/>80 <br/> <br/> <br/> <br/> <br/> <br/>(i) Determine the optimum production schedule and maximum profit per week. <br/> <br/>(ii) The factory wants to double the capacity of grinder at an additional cost of Rs. 50 per week. Should it go for it ? Substantiate your result.