See Attachment. This exercises are based on the Managing Enginnering and Technology textbook by Lucy Morse and Daniel Babcock. A am resubmitting the questions and included one more. Please let me know if you can finish it today by 2:00 p.m.,Thank you Rachel I really appreciate the help. I tried my best but could not solve these problems. Please help me on these three problems I truly appreciate it.,Thank you very much Rachel do you know who may be able to help me with the first four problems I wrote them down here and its also in the attachment: 1.For the upcoming planting season, Farmer McCoy has four options: A1: Plant corn A3: Plant soybean A2: Plant wheat A4: Use the land for grazing The payoffs associated with the different actions are influenced by the amount of rainfall, which could be one of four states: S1: Heavy rainfall S3: Light rainfall S2: Moderate rainfall S4: Drought season The payoff matrix (in $1,000) is estimated as S1 S2 S3 S4 A1 -30 80 30 -5 A2 40 60 35 0 A3 -60 100 25 -10 A4 10 15 20 15 Determine the best decision according to a) the maximin rule; b) the maximax rule; c) the Laplace rule (Equally likely) d) the Hurwicz rule with ? = 0.30; and e) the minimax regret rule. 2. Using Holt?s Trend Model with the following data sets, 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 Actual 125 139 146 156 178 185 204 209 225 239 255 264 a) Make forecast for 2006. (Use 6 data sets for initiation and 6 sets for testing, ?= 0.3, ?=0.6) b) Calculate the bias, MAD, MPE, and MAPE using the actual data during the testing phase. 3. ABC Corp. produces both interior and exterior paints from two raw materials, M1 and M2. The following table provides the basic data: Tons of raw material per ton of Maximum daily availability (tons) Exterior paint Interior paint Raw material, M1 6 4 36 Raw material, M2 2 3 18 Profit per ton ($1,000) 8 6 A market survey indicates that the daily demand for interior paint cannot exceed that of exterior paint by more than 2 tons. Also, the maximum daily demand of interior paint is 4 tons. ABC Corp. wants to determine the optimal product mix of interior and exterior paints that maximizes the total daily profit. a) Formulate the linear programming model for this problem. b) Solve this model using the graphical approach, EXCEL, or LINDO. c) What is the limiting raw material? What alternatives could you suggest? 4. Two products are manufactured in a machining center. The production times per unit of products X and Y are 9 and 12 minutes, respectively. The total regular machine time is 2500 minutes per day. Daily demand is 200 units for product X and 100 units for Y.,Rachel please work on the last three that you said you were able to do 7-9. I wrote the problems below: Do you know anyone who may be able to help with problems 1-4 on the attachment. Please let me know. 7. Excelsior Corporation reported the following status (in thousands of dollars) as of December 31, 2001: accounts payable of $150; accounts receivable of $250; cash of $150; inventory of $200; long-term debt of $260; net plant and equipment of$500; notes payable during 2001 of $250; and stockholders' equity of $440. (a) Prepare a balance sheet as of 12/31/2001, and (b) calculate as many financial ratios as you can with the information provided. 8 For 2001 a company reported (in millions of dollars) net sales of $10.0, cost of goods sold of $4.4, other (sales, G&A, and interest) expense of $1.2, and income taxes of $1.6. As of December 31, 2001, the company had $1.0 cash and securities, $1.4 accounts receivable, and $2.0 inventory; it owed $2.0 in current liabilities (including unpaid taxes) and $2.5 in long-term debt. Calculate as many financial ratios as you can with the information provided. 9 ABC Corporation produces 50,000 units of product X and 5,000 units of product Y at a direct materials cost of $3 per unit. Product X requires 3 minutes and product Y 30minutes direct labor per unit (at $20 per hour). Other costs (tooling, setup, and equipment depreciation and maintenance) for this period amount to $60,000. (a) If these "other costs" are allocated on the basis of direct labor hours, what is the apparent unit cost of each product? (b) Production of product X is highly automated to reduce direct labor cost; it is responsible for $55,000 of this "other cost," and product Y only $5,000. Using activity-based costing, what do the unit costs now become? (c) What difference might this make in ABC Corporation's actions?
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