# resource requirements for each product and the total resources Quantitative analysis, business and finance homework help

### STUCK with your assignment? When is it due? Hire our professional essay experts who are available online 24/7 for an essay paper written to a high standard at a reasonable price.

Order a Similar Paper Order a Different Paper

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 Unit Line 1 Line 2 A 11 5 B 6 9 Total Hours 65 40

a. Formulate a linear programming model to determine the optimal product mix that will maximize profit.

b. What are the sensitivity ranges for the objective function coefficients?

c.

Determine the shadow prices for additional hours of production time on

line 1 and line 2 and indicate whether the company would prefer

additional line 1 or line 2 hours.

3. Formulate and solve the model for the following problem:

Irwin

Textile Mills produces two types of cotton cloth denim and corduroy.

Corduroy is a heavier grade of cotton cloth and, as such, requires 8

pounds of raw cotton per yard, whereas denim requires 6 pounds of raw

cotton per yard. A yard of corduroy requires 4 hours of processing time;

a yard od denim requires 3.0 hours. Although the demand for denim is

practically unlimited, the maximum demand for corduroy is 510 yards per

month. The manufacturer has 6,500 pounds of cotton and 3,000 hours of

processing time available each month. The manufacturer makes a profit of

$2.5 per yards of denim and $3.25 per yard of corduroy. The

manufacturer wants to know how many yards of each type of cloth to

produce to maximize profit. Formulate the model and put it into standard

form. Solve it

a. How much extra cotton and processing time are left over at the optimal solution? Is the demand for corduroy met?

b.

If Irwin Mills can obtain additional cotton or processing time, but not

both, which should it select? How much? Explain your answer.

4.

The Bradley family owns 410 acres of farmland in North Carolina on which

they grow corn and tobacco. Each acre of corn costs $105 to plant,

cultivate, and harvest; each acre of tobacco costs $210. The Bradleys’

have a budget of $52,500 for next year. The government limits the number

of acres of tobacco that can be planted to 100. The profit from each

acre of corn is $300; the profit from each acre of tobacco is $520. The

Bradleys’ want to know how many acres of each crop to plant in order to

maximize their profit.

a. Formulate the linear programming model for the problem and solve.

b.

How many acres of farmland will not be cultivated at the optimal

solution? Do the Bradleys use the entire 100-acre tobacco allotment?

c.

The Bradleys’ have an opportunity to lease some extra land from a

neighbor. The neighbor is offering the land to them for $110 per acre.

Should the Bradleys’ lease the land at that price? What is the maximum

price the Bradleys’ should pay their neighbor for the land, and how much

land should they lease at that price?

d. The Bradleys’ are

considering taking out a loan to increase their budget. For each dollar

they borrow, how much additional profit would they make? If they

borrowed an additional $1,000, would the number of acres of corn and

tobacco they plant change?

### Everyone needs a little help with academic work from time to time. Hire the best essay writing professionals working for us today!

Get a 15% discount for your first order

Order a Similar Paper Order a Different Paper