Exam 13: Linear Optimization

The ________ indicates how much the value of the objective function will change as the right-hand side of a constraint is increased by 1.

Use the following information to answer the following question(s), using the SUMPRODUCT function. Stone Age Surfboards is a small manufacturer of two types of popular high-tide surfboards, the Rockwell and the Limestone models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 15 skilled workers, each of whom works 5 hours per day.The finishing department has 5 workers, who also work a 5-hour shift.Each pair of Rockwell surfboards requires 3 labor hours in the fabrication department and 1.5 labor hours in finishing.The Limestone model requires 4.5 labor-hours in fabrication and 2 labor-hours in finishing.The company operates 6 days a week.It makes a per-unit profit of $60 on the Rockwell model and $75 on the Limestone model.Approximately 4.1 Rockwell models and 8.4 Limestone models are produced per day. -What is the total number of hours used for fabrication?

Use the following information to answer the question(s)below. Cerebro Manufacturing produces four types of structural support fittings-plugs, rails, rivets, and clips-which are machined on two CNC machining centers.The machining centers have a capacity of 250,000 minutes per year.The gross margin per unit and machining requirements are shown in the spreadsheet below. -What is the gross margin per minute of rivets manufactured?

When a model has a unique optimal solution, it means that ________.

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -If the unit profit on Graystone surfboards is increased by $10, what is the shadow price for the finishing hours used?

Use the following information to answer the question(s)below. Cerebro Manufacturing produces four types of structural support fittings-plugs, rails, rivets, and clips-which are machined on two CNC machining centers.The machining centers have a capacity of 250,000 minutes per year.The gross margin per unit and machining requirements are shown in the spreadsheet below. -What is the maximum production of clips based on the machine capacity?

Consider the spreadsheet for Stone Age Surfboards provided below.Use this data to answer the following question(s), using the Standard Solver. Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 8 skilled workers, each of whom works 9.25 hours per day.The finishing department has 5 workers, each of whom works a 6-hour shift per day.Each pair of Graystone surfboards requires 2.5 labor hours in the fabrication department and 2 labor hours in finishing.The Lava model requires 4.2 labor-hours in fabrication and 3.6 labor-hours in finishing.The company operates 6 days a week.It makes a per unit profit of $40 on the Graystone model and $60 on the Lava model. -What is the Allowable Decrease for Graystone surfboards produced?

Use the following information to answer the following question(s), using the SUMPRODUCT function. Stone Age Surfboards is a small manufacturer of two types of popular high-tide surfboards, the Rockwell and the Limestone models.The manufacturing process consists of two departments: fabrication and finishing.The fabrication department has 15 skilled workers, each of whom works 5 hours per day.The finishing department has 5 workers, who also work a 5-hour shift.Each pair of Rockwell surfboards requires 3 labor hours in the fabrication department and 1.5 labor hours in finishing.The Limestone model requires 4.5 labor-hours in fabrication and 2 labor-hours in finishing.The company operates 6 days a week.It makes a per-unit profit of $60 on the Rockwell model and $75 on the Limestone model.Approximately 4.1 Rockwell models and 8.4 Limestone models are produced per day. -What is the total profit generated?

Which of the following approaches provided by the Risk Solver Platform can automatically run multiple optimizations while varying model parameters within a predefined range?

Use the following information to answer the question(s)below. Cerebro Manufacturing produces four types of structural support fittings-plugs, rails, rivets, and clips-which are machined on two CNC machining centers.The machining centers have a capacity of 250,000 minutes per year.The gross margin per unit and machining requirements are shown in the spreadsheet below. -What is the total profit generated from the manufacture of only plugs?