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MAT 540 WEEK 7 ASSIGNMENT 3 CASE PROBLEM - JULIA’S FOOD BOOTH

Complete the “Julia’s Food Booth” case problem on page 109 of the text. Address each of the issues A- D according the instructions given.

(A) Formulate and solve an L.P. model for this case.

(B) Evaluate the prospect of borrowing money before the first game.

(C) Evaluate the prospect of paying a friend $100/game to assist.

(D) Analyze the impact of uncertainties on the model.

MAT 540 Week 7 Assignment 3 Case Problem - Julia’s Food Booth

Activity mode, MAT 540 Week 7 Assignment 3 Case Problem - Julia’s Food Booth, Home Work Tutorials, Home Work Solutions, Home Work Essay, Home Work Questions.ACC 565 Wk 7 Assignment 3, ACC403 week 2 assignment, ACC565 Week 10, ACCT 212 (Financial Accounting), ACCT 344 (Entire Course) - Devry, ACCT 344 Final Exam Latest 2014 - Devry, ACCT 346 (Managerial Accounting), ACCT 346 Midterm Exam Updated DeVry, ACCT 504, ACCT 504 Week 8, ACCT 553, ART 101 Week 8, Ashford BUS 401, ASHFORD BUS 640, Ashford HIS 204, ASHFORD MAT 222 Week 3, BA 215 (Business Statistics), BA 215 All Assignments Week 1 -8 - Grantham, BA 225, BA 260, BA 265 (Business Law II), BA 265 (Business Law II) FINAL EXAM, BA 340 All Course Assignments, BA 340 Human Resource, BA 370 (Employment Law), BA 405 Multinational Management, BA 470 Week 3 - 5 - 6 - 7, BA 470 Entrepreneurship, BA350 Principles Of Finance, BIS 155 Final Exam - DeVry, BIS 220 Final Exam, BSOP 429, BSOP 434 Entire Course - Devry, BUS 303 Week 2, BUS 303 Week 3, BUS 303 Week 5, BUS 311 Business Law, BUS 330 Week 1, BUS 330 Week 3, BUS 330 Week 5, BUS 401 Week 4 DQ 1, BUS 401 Week 4 DQ 2, BUS 402 WEEK 4, BUS…...

...Assignment #3: Case Problem “Julia’s Food Booth” La-Tia Jackson MAT 540 Dr. Albert Yin May 26, 2013 1. Formulate and solve an L.P. model for this case. There are three products or variables in this problem that we must consider for purchase. X1 = number of pizza slices Julia should purchase X2 = number of hotdogs Julia should purchase X3 = number of barbecue sandwiches Julia should purchase. Julia decided to have a food booth in order to make some money. Her goal is to maximize the profit that she can get from selling the hotdogs, pizza, and barbeque sandwiches that she plans on selling. The first thing to do is find the profit that Julia will make per Item. To find that per Item price, the cost of the item will be subtracted from the selling price. Pizza: Julia can buy a pizza that contains 8 slices for $6. That means each slice of pizza will cost her $0.75. She plans to sell each piece for 1.50. $1.50-$0.75= $0.75 profit Hot dog: $1.50 - $0.45 = $1.05 profit Barbecue Sandwiches: $2.25 - $0.90 = $1.35 profit The objective function can now be written since we have found the potential profit of each food item. The objective of this function is to maximize Z (profit). Z= $0.75x1 + $1.05x2 + $1.35X3 Budget is the one thing that has to be taken into consideration. Julia has $1,500 on hand to purchase and prepare food for the first home game. A constraint must be formed for the budget. Cost of each item and money available is what is known, so it is easy to form......

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...Assignment #3 Case Problem - Julia's Food Booth May 28, 2013 Strayer University Course: MAT 540 – Quantitative Methods A: Formulation of the LP Model Let: X1 = (Pizza), X2 = (hotdogs), X3 = (barbecue sandwiches) Constraints: Maximum fund available for the purchase = $1500 Constraint: 0.75X1 + 0.45X2+ 0.90(X3) ≤ 1500 Cost: Cost per pizza slice = $6 (get 8 slices) =6/8 = $0.75 Cost for a hotdog = $.45 Cost for a barbecue sandwich = $.90 Oven space: Space available = 3 x 4 x 16 = 192 sq. feet = 192 x 12 x 12 =27648 sq. inches The oven will be refilled before half time- 27648 x 2 = 55296 Space required for pizza = 14 x 14 = 196 sq. inches Space required for pizza slice = 196/ 8 = 24.50 sq. inches Space required for a hotdog =16 Space required for a barbecue sandwich = 25 Constraint: Constraint: 24.50 (X1) + 16 (X2) + 25 (X3) ≤ 55296 Julia can sell at least as many slices of pizza(X1) as hot dogs(x2) and barbecue sandwiches (X3) combined Constraint: X1 ≥ X2 + X3 = X1 - X2 - X3 ≥ 0 Julia can sell at least twice as many hot dogs as barbecue sandwiches When: X2/X3 ≥ 2 = X2 ≥2 X3 =X2 - 2 X3 ≥ 0 X1, X2, X3 >= 0 (Non negative constraint) Objective Function (Maximize Profit): Products: | Pizza (X1) | Hotdogs (X2) | Barbecue Sandwich(X3) | Sell | 1.5 | 1.5 | 2.25 | Cost | 0.75 | 0.45 | 0.9 | Profit | 0.75 | 1.05 | 1.35 | Profit = Sell - Cost Profit formula: Z = 0.75 X1 + 1.05 X2 + 1.35 X3 LP Model Maximize method: Z = 0.75 X1 +......

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...Assignment 3: Julia’s Food Booth Case Problem Marie O. Huddleston MAT 540 – Quantitative Methods December 4, 2013 Dr. Bashir M. Dweik A) Formulate and solve a L.P. model for Julia’s Food Booth. Variables: X1 = pizza slices X2 = hot dogs X3 = barbeque sandwiches. Maximize Z = ($0.75 X1) + ($1.05 X2) + ($1.35 X3) Subject to: ($0.75 X1) + ($0.45 X2) + ($.90 X3) <= $1,500 (24 X1) + (16 X2) + (25 X3) <= 55,296 inches squared oven space X1 >= X2 + X3 (X2/X3) >= 2.0 X1, X2, X3 >=0 Solution: X1 = 1250 pizza slices X2 = 1250 hot dogs X3 = 0 barbeque sandwiches Z = $2,250 Julia will generate revenues of $2,250 for her first game. the leasing of the booth will cost her $1,000/game, so she is left with $1,250. The cost of leasing the warming oven is 600 for 6 games, which comes to $100/game. She will make a profit of $1,150 for her first game. Also see Excel Spreadsheet file tabs 1 & 2 B) Evaluate the prospect of borrowing money before the first game. Yes, she would increase her profit if she borrowed more money. The shadow price, or dual value, is $1.50 for each additional dollar she earns. The upper limit given in the model is $1,658.88, which means she can only borrow $158.88 giving her an additional profit of $238.32. C) Evaluate the prospect of paying a friend $100/game to assist. Yes, I think Julia should hire her friend for $100 per game. In order for Julia to prepare the hot dogs......

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...The three products/variables in this problem that must be considered for purchase are: x1: Pizza Slices x2: Hot Dogs x3: Barbeque Sandwiches The objective is for Julia to maximize profits. Julia’s goal is to earn a profit of at least $1,000.00 after each game. Profit = Sell – Cost Profit Function: Z = 0.75(X1) + 1.05(X2) + 1.35(X3) Constraints and Cost: The maximum amount of funds available for purchase is $1500.00 Cost per pizza slice = $0.75 because Julia purchases each pizza for $6.00 and there are 8 slices per pizza. Cost per hot dog = $0.45 Cost per sandwich = $0.90 LPP Model: Maximize Profit: Z= $0.75x1 + $0.45x2 + $0.90x3 < $1,500 Subject to 24x1 + 16x2 + 25x3 < 55,296 oven space x1 > x2 + x3 (changed to –x1 + x2 + x3 < 0 for constraint) x2/x3 > 2 (changed to –x2 + 2x3 < 0 for constraint) x1, x2, x3 > 0 Solve the LPM: Pizza(X1) = 1,250; Hotdogs(X2) = 1,250 and Barbecue sandwiches(X3) = 0 Maximum value of Z = $2,250 It would be in Julia’s best interest to stock 1,250 slices of pizza, 1, 250 hot dogs and no barbecue sandwiches as it will yield the maximum profit of $2,250.00 (B) Evaluate the prospect of borrowing money before the first game. I do assert that Julia should borrow money from her friend to increase her profits. The shadow price is $1.50 for each additional dollar Julia earns. The upper limit in the model that is given is $1,658.88. This means that Julia can borrow $158.88 from her friend, which will help her......

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...MAT 540 Week 8 Assignment Assignment 1: Assignment 1. Linear Programming Case Study Your instructor will assign a linear programming project for this assignment according to the following specifications. It will be a problem with at least three (3) constraints and at least two (2) decision variables. The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions). The problem will also include a component that involves sensitivity analysis and the use of the shadow price. You will be turning in two (2) deliverables, a short writeup of the project and the spreadsheet showing your work. Writeup. Your writeup should introduce your solution to the project by describing the problem. Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution. Identify each variable and explain the criteria involved in setting up the model. This should be encapsulated in one (1) or two (2) succinct paragraphs. After the introductory paragraph, write out the L.P. model for the problem. Include the objective function and all constraints, including any non-negativity constraints. Then, you should present the optimal solution, based on your work in Excel. Explain what the results mean. Finally, write a paragraph addressing the part of the problem pertaining to sensitivity......

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...MAT 540 WEEK 7 ASSIGNMENT 3 CASE PROBLEM – JULIA’S FOOD BOOTH http://www.coursehomework.com/product/mat-540-week-7-assignment-3-case-problem-julias-food-booth/ Contact us at: +1 315-750-4434 help@coursehomework.com MAT 540 WEEK 7 ASSIGNMENT 3 CASE PROBLEM - JULIA’S FOOD BOOTH Complete the “Julia’s Food Booth” case problem on page 109 of the text. Address each of the issues A- D according the instructions given. (A) Formulate and solve an L.P. model for this case. (B) Evaluate the prospect of borrowing money before the first game. (C) Evaluate the prospect of paying a friend $100/game to assist. (D) Analyze the impact of uncertainties on the model. Click Here to Buy this; http://www.coursehomework.com/product/mat-540-week-7-assignment-3-case-problem-julias-food-booth Course Home Work aims to provide quality study notes and tutorials to the students of MAT 540 Week 7 Assignment 3 Case Problem - Julia’s Food Booth in order to ace their studies. Course Home Work - Best Home Work Tutorials MAT 540 Week 7 Assignment 3 Case Problem - Julia’s Food Booth Course Home Work, MAT 540 Week 7 Assignment 3 Case Problem - Julia’s Food Booth, Home Work Tutorials, Home Work Solutions, Home Work Essay, Home Work Questions.ACC 565 Wk 7 Assignment 3, ACC403 week 2 assignment, ACC565 Week 10, ACCT 212 (Financial Accounting), ACCT 344 (Entire Course) - Devry, ACCT 344 Final Exam Latest 2014 - Devry, ACCT 346 (Managerial Accounting), ACCT 346 Midterm Exam Updated......

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...MAT 540 Week 7 Homework Chapter 3 http://homeworkfy.com/downloads/mat-540-week-7-homework-chapter-3/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) 1. Southern Sporting Good Company makes basketballs and footballs. Each product is produced from two resources rubber and leather. Each basketball produced results in a profit of $11 and each football earns $15 in profit. The resource requirements for each product and the total resources available are as follows: Product Resource Requirements per Unit Rubber (lb.) Leather (ft2) Basketball 2.8 3.7 Football 1.5 5.2 Total resources available 600 900 a. Find the optimal solution. b. What would be the effect on the optimal solution if the profit for the basketball changed from $11 to $12? c. What would be the effect on optimal solution if 400 additional pounds of rubber could be obtained? What would be the effect if 600 additional square feet of leather could be obtained? 2. A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product must be processed on two assembly lines, where the required production times are as follows: Product Resource Requirements per......

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...MAT 540 WEEK-10 ASSIGNMENT-4 CASE PROBLEM STATELINE SHIPPING AND TRANSPORT COMPANY To purchase this Click here: http://www.activitymode.com/product/mat-540-week-10-assignment-4-case-problem-stateline-shipping-and-transport-company/ Contact us at: SUPPORT@ACTIVITYMODE.COM MAT 540 WEEK-10 ASSIGNMENT-4 CASE PROBLEM STATELINE SHIPPING AND TRANSPORT COMPANY Read the “Stateline Shipping and Transport Company” Case Problem on pages 273-274 of the text. Analyze this case, as follows: 1. In Excel, or other suitable program, develop a model for shipping the waste directly from the 6 plants to the 3 waste disposal sites. 2. Solve the model you developed in #1 (above) and clearly describe the results. 3. In Excel, or other suitable program, Develop a transshipment model in which each of the plants and disposal sites can be used as intermediate points. 4. Solve the model you developed in #3 (above) and clearly describe the results. 5. Interpret the results and draw conclusions that address the question posed in the case problem. What are the limits of the study? Write at least one paragraph. Click Here to Buy this; http://www.coursehomework.com/product/mat-540-week-10-assignment-4-case-problem-stateline-shipping-and-transport-company Activity mode aims to provide quality study notes and tutorials to the students of MAT 540 Week-10 Assignment-4 Case Problem Stateline Shipping and Transport Company in order to ace their studies. MAT 540 Week-10 Assignment-4 Case Problem......

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...MAT 540 Complete Course MAT540 Complete Course Click Link for the Answer: http://workbank247.com/q/mat-540-complete-course-mat540-complete-course/22085 http://workbank247.com/q/mat-540-complete-course-mat540-complete-course/22085 MAT 540 Week 1 Discussion "Class Introductions" Please respond to the following: * Please introduce yourself, including your educational and career goals, as well as some personal information about yourself. In your introduction, please draw from your own experience (or use a search engine) to give an example of how probability is used in your chosen profession. If you get your information from an online or other resource, be sure to cite the source of the information. MAT 540 Week 1 Homework Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $65,000. The variable cost of recapping a tire is $7.5. The company charges$25 to recap a tire. a. For an annual volume of 15, 000 tire, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $25,000, and its variable cost per pound of fertilizer is $0.20. Evergreen sells the fertilizer for $0.45 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in problem 2 changes the price of its fertilizer from $0.45 per pound to $0.55 per pound,......

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...MAT 540 Week 7 Homework Chapter 3 http://homeworklance.com/downloads/mat540-week-7-homework-chapter-3/ . Southern Sporting Good Company makes basketballs and footballs. Each product is produced from two resources rubber and leather. Each basketball produced results in a profit of $11 and each football earns $15 in profit. The resource requirements for each product and the total resources available are as follows: Product Resource Requirements per Unit Rubber (lb.) Leather (ft2) Basketball 2.8 3.7 Football 1.5 5.2 Total resources available 600 900 a. Find the optimal solution. b. What would be the effect on the optimal solution if the profit for the basketball changed from $11 to $12? c. What would be the effect on optimal solution if 400 additional pounds of rubber could be obtained? What would be the effect if 600 additional square feet of leather could be obtained? 2. A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product must be processed on two assembly lines, where the required production times are as follows: Product Resource Requirements per Unit Line 1 Line 2 A 11 5 B ...

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...MAT 540 Week 7 Homework Chapter 3 http://homeworklance.com/downloads/mat540-week-7-homework-chapter-3/ . Southern Sporting Good Company makes basketballs and footballs. Each product is produced from two resources rubber and leather. Each basketball produced results in a profit of $11 and each football earns $15 in profit. The resource requirements for each product and the total resources available are as follows: Product Resource Requirements per Unit Rubber (lb.) Leather (ft2) Basketball 2.8 3.7 Football 1.5 5.2 Total resources available 600 900 a. Find the optimal solution. b. What would be the effect on the optimal solution if the profit for the basketball changed from $11 to $12? c. What would be the effect on optimal solution if 400 additional pounds of rubber could be obtained? What would be the effect if 600 additional square feet of leather could be obtained? 2. A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product must be processed on two assembly lines, where the required production times are as follows: Product Resource Requirements per Unit Line 1 Line 2 A 11 5 B ...

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...Case Problem” Julia’s Food Booth” Julia’s objective is to maximize total profit; the total profit is the summary of the individual profits gained from each pizza slice, hot dog, and barbeque sandwich. I am going to estimate the profit for each item as difference between total revenue and total cost of the item. Total revenue Total cost Profit Pizza slice $1.50 $6/8 slices = $0.75 $0.75 Hot dog $1.50 $0.45 $1.05 Barbeque sandwich $2.25 $0.90 $1.35 x1 - number of pizza slices x2 - number of hot dogs x3 - number of barbeque sandwiches The profit function: maximize Z = $0.75* x1 + $1.05 * x2 + $1.35 * x3 There Z = total profit per game. The oven size constraint is formulated as 16 shelves 3*4 feet each which will be filled twice for each game, so the maximum possible size of the stove is: (((12*3)*(12*4))*16)*2 = 55,296 square inches. Estimate for each item in regards to the space: Pizza slice (14*14)/8 = 24.5 square inches (keeping in mind that she will keep whole pizza warm) Hot dog ...

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...Assignment #3 Case Problem Julia's Food Booth A: Formulation of the LP Model X1(Pizza), X2(hotdogs), X3(barbecue sandwiches) Constraints: Cost: Maximum fund available for the purchase = $1500 Cost per pizza slice = $6 (get 8 slices) =6/8 = $0.75 Cost for a hotdog = $.45 Cost for a barbecue sandwich = $.90 Constraint: 0.75X1 + 0.45X2+ 0.90(X3) ≤ 1500 Oven space: Space available = 3 x 4 x 16 = 192 sq. feet = 192 x 12 x 12 =27648 sq. inches The oven will be refilled before half time- 27648 x 2 = 55296 Space required for pizza = 14 x 14 = 196 sq. inches Space required for pizza slice = 196/ 8 = 24.50 sq. inches Space required for a hotdog=16 Space required for a barbecue sandwich = 25 Constraint: 24.50 (X1) + 16 (X2) + 25 (X3) ≤ 55296 Constraint: Julia can sell at least as many slices of pizza(X1) as hot dogs(x2) and barbecue sandwiches (X3) combined Constraint: X1 ≥ X2 + X3 = X1 - X2 - X3 ≥ 0 Julia can sell at least twice as many hot dogs as barbecue sandwiches X2/X3 ≥ 2 = X2 ≥2 X3 =X2 - 2 X3 ≥ 0 X1, X2, X3 >= 0 (Non negativity constraint) Objective Function (Maximize Profit): Profit =Sell- Cost Profit function: Z = 0.75 X1 + 1.05 X2 + 1.35 X3 LPP Model: Maximize Z = 0.75 X1 + 1.05 X2 + 1.35 X3 Subject to 24.5 X1 + 16 X2 + 25 X3 ≤ 55296 0.75 X1 + 0.45 X2 + 0.90 X3 ≤ 1500 X1 - X2 - X3 ≥ 0 X2 - 2 X3 ≥ 0 X1≥ 0, X2≥ 0 and X3 ≥0 Solve the......

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... |Case 3 - Julia's Food Booth | | | | | | | | | | | | | | | | |Constraints: | | | |Available |Usage |Left over | | |Budget ($) |0.75 |0.45 |0.90 | 1,500 | 1,500.00 |0 | | |Oven space (sq. in.) |24 |16 |25 | 55,296 | 50,000.00 |5296 | | |Demand |1 |-1 |-1 |0 | - |0 | | |Demand |0 |1 |-2 |0 | 1,250.00 |-1250 | | | | | | | | | | | |Adjustable Cells | | | | | | | | | |Final |Reduced |Objective |Allowable |Allowable | | |Cell |Name ...

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...Assignment 3: Julia’s Food Booth Quantitative Methods - MAT Assignment #3: Julia’s Food Booth A. Formulate and solve an L.P. model for this case: X1 = pizza slices X2 = hot dogs X3 = B B Q sandwiches This model is set up for the first home game. Next, you would maximize Z = $0.75 x1 + 1.05 x2 + 1.35 x3 which is subject to the following: $0.75x1 + 0.45x2 + 0.90x3 = 2.0 so x1, x2, x3 >=0 X3 All of which is displayed in the graph below. (Note: The oven space needed for a slice of pizza is determined by dividing the total space required by the slice of pizza, 14 x 14 = 196 in^2 by 8 or 24 in^2 per slice. The total space available would be the dimensions of the shelf, 36 in. x 48 in. = 1,728 in^2, multiply that by 2, the times before kickoff and halftime, thus the oven will be filled 55,296in^2. Solution: X1 = 1,250 slices of pizza X2 = 1,250 hot dogs X3 = 0 bbq sandwiches Z = $2,250 | | | | | | | | | Food items: | | Pizza | Hot Dogs | Barbecue | | | | | Profit per item: | 0.75 | 1.05 | 1.35 | | | | | Constraints: | | | | Available | Usage | Left over | | Budget ($) | 0.75 | 0.45 | 0.90 | 1,500 | 1,500.00 | 0 | | Oven space (sq. in.) | 24 | 16 | 25 | 55,296 | 50,000.00 | 5296 | | Demand | 1 | -1 | -1 | 0 | - | 0 | | Demand | 0 | 1 | -2 | 0 | 1,250.00 | -1250 | | | | | | | | | | | Stock | | | | | ...

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