Market Research Linear Programming

A market research firm has been retained to conduct focus group interviews for a real estate company. Plans are made to classify participants to age: over 45 or 45 and under and as to whether or not they have recently bought and/or sold a house (within the last two years). Specific guidelines have been developed: · At least 100 people must be selected · At least 75% of the participants must have bought or sold a house recently · Of those who have not bought or sold recently, at least 40% must be over 45 years of age · No more than 40% of participants should be 45 or under There are preliminary screenings with associated costs. The cost ... click for more

Ms. Olsen, a coffee processor, markets three blends of coffee.

Ms. Olsen, a coffee processor, markets three blends of coffee. They are Brand X, Minim and Taster's Reject. Ms. Olsen uses two types of coffee beans, Columbian and Mexican, in her coffee. The following chart lists the compositions of the blends. Blend Columbian Beans Mexican Beans Brand X 80% 20% Minim 50% 50% Taster’s Reject 30% 70% Ms. Olsen HAS purchased 20,000 pounds of Columbian beans at 90 cents per pound, and she has purchased 30,000 pounds of Mexican beans at 50 cents per pound. The beans have been delivered and are within the warehouse ready to use for coffee production. Unused Columbian beans can be sold at cost to another processor, but unused Mexican beans can be s... click for more

Goal Programming (Lindo) - First West Chemical

First West Chemical First West Chemical Company produces two chemical ingredients for pharmaceutical firms; formula X and formula Y. Production of each ingredient requires two processes. A unit of Formula X requires 4 hours in process 1 and 3 hours in process 2. A unit in formula Y requires 2 hours in process 1 and 5 hours in process 2. The normal operating production times for the two processes are as follows: process 1, 70 hours and process 2, 60 hours. The production process of formula X results in one unit of a by-product called XZ. Four (4) units of X produce 1 unit of XZ. The production process for formula Y yields 5 units of a by-product, YK for each unit ... click for more

Production Schedule / Blending / Mixture

Coffee Blends Ms. Olsen, a coffee processor, markets three blends of coffee. They are Brand X, Minim and Taster's Reject. Ms. Olsen uses two types of coffee beans, Columbian and Mexican, in her coffee. The following chart lists the compositions of the blends. Blend Columbian Beans Mexican Beans Brand X 80% 20% Minim 50% 50% Taster’s Reject 30% 70% Ms. Olsen HAS purchased 20,000 pounds of Columbian beans at 90 cents per pound, and she has purchased 30,000 pounds of Mexican beans at 50 cents per pound. The beans have been delivered and are within the warehouse r... click for more

What is the new economic order quantity for the product?

A large distributor of oil-well drilling equipment operated over the past two years with EOQ policies based on an annual holding cost rate of 22%. Under the EOQ policy, a particular product has been ordered with a Q* = 80. a recent evaluation of holding costs shows that because of an increase in the interest rate associated with bank loans, the annual holding cost rate should be 27%. What is the new economic order quantity for the product?