{"id":5279,"date":"2019-12-26T21:07:23","date_gmt":"2019-12-26T10:07:23","guid":{"rendered":"https:\/\/casestudyhelp.com\/sample-questions\/?p=5279"},"modified":"2024-04-08T23:00:10","modified_gmt":"2024-04-08T13:00:10","slug":"quantitative-analysis-for-managerial-decisions-assignment-answers","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/quantitative-analysis-for-managerial-decisions-assignment-answers\/","title":{"rendered":"Quantitative Analysis for Managerial Decisions Assignment Answers"},"content":{"rendered":"
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Looking for\u00a0Quantitative Analysis for Managerial Decisions Assignment Question to Answers<\/strong><\/a> Solution? Get Management Case Study Assignment Services<\/strong><\/a>,\u00a0 Managerial\u00a0Accounting Assignment Help<\/strong><\/a> & Assignment Analysis Help<\/strong><\/a> from PhD\/MBA Experts at cost-effective rates? Acquire HD Quality research work with 100% Plagiarism free content.<\/p>\n<\/blockquote>\n

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Assignment Details:<\/strong><\/span><\/p>\n

Topic :: <\/strong>Quantitative Analysis For Managerial Decisions<\/p>\n

Document Type :: Assignment help (any type)<\/p>\n

Subject :: Management<\/p>\n

Deadline :*: As Per Required<\/p>\n

Number of Words :: As Per Required<\/p>\n

Citation\/Referencing Style :: Harvard style<\/p>\n

\u00a0Quantitative Analysis for Managerial Decisions<\/strong><\/h2>\n

Attempt all the questions!<\/strong><\/p>\n

1).\u00a0<\/strong> \u00a0Distinguish between quantitative and qualitative decision making process.<\/p>\n

2).\u00a0<\/strong>\u00a0\u00a0Why are models required?<\/p>\n

3).\u00a0<\/strong>\u00a0\u00a0Describe the basic types of models.<\/p>\n

4).\u00a0<\/strong>\u00a0\u00a0Is OR an art or science? Justify with supportive reasons.<\/p>\n

5).\u00a0<\/strong>\u00a0\u00a0When is quantitative analysis required in decision making?<\/p>\n

6).\u00a0<\/strong>\u00a0\u00a0Elaborate the application of Operations Research techniques in service giving enterprises.<\/p>\n

7).\u00a0<\/strong>\u00a0\u00a0Explain the management science approach to decision making.<\/p>\n

8).\u00a0<\/strong>\u00a0\u00a0Identify application areas of Operations Research in business.<\/p>\n

9).\u00a0<\/strong>\u00a0\u00a0What are the drawbacks of using quantitative analysis?<\/p>\n

10).\u00a0<\/strong>\u00a0\u00a0Briefly explain the criteria of model classification.<\/p>\n

11).\u00a0<\/strong>\u00a0\u00a0Give examples of allocation models.<\/p>\n

12).\u00a0<\/strong>\u00a0\u00a0Explain the milestones in the development of OR\/MS\/DS\/SS.<\/p>\n

\u00a0<\/em><\/strong><\/p>\n

Attempt all the following word problems and show all the necessary steps you follow to answer the required questions.<\/em><\/strong><\/p>\n

13).\u00a0<\/strong> \u00a0The Flair Furniture Company produces inexpensive tables and chairs. The production process for each is similar in that both require a certain number of hours of carpentry work and a certain number of labor hours in the painting and varnishing department. Each table takes 4 hours of carpentry and 2 hours in the painting and varnishing shop. Each chair requires 3 hours in carpentry and 1 hour in painting and varnishing. During the current production period, 240 hours of carpentry time are available and 100 hours in painting and varnishing time are available. Each table sold yields a profit of $70; each chair produced is sold for a $50 profit. Flair Furniture\u2019s problem is to determine the best possible combination of tables and chairs to manufacture in order to reach the maximum profit.<\/p>\n

Required:<\/strong><\/p>\n

A).<\/strong>\u00a0 Develop a Linear Programing Model.<\/p>\n

B).<\/strong>\u00a0 Change the LPP into standard form.<\/p>\n

C).<\/strong>\u00a0 Solve the LPP by using;<\/p>\n

    \n
  1. Graphical method<\/li>\n
  2. Simplex algorithm method<\/li>\n
  3. Identify the unused resources.<\/li>\n
  4. Test for post optimality.<\/li>\n
  5. Use an Excel solver to solve the LPP and compare your answer.<\/li>\n<\/ol>\n

    14).<\/strong>\u00a0 \u00a0The Holiday Meal Turkey Ranch is considering buying two different brands of turkey feed and blending them to provide a good, low-cost diet for its turkeys. Each feed contains, in varying proportions, some or all of the three nutritional ingredients essential for fattening turkeys. Each pound of brand 1 purchased, for example, contains 5 ounces of ingredient A, 4 ounces of ingredient B, and 0.5 ounce of ingredient C. Each pound of brand 2 contains 10 ounces of ingredient A, 3 ounces of ingredient B, but no ingredient C. The brand 1 feed costs the ranch 2 cents a pound, while the brand 2 feed costs 3 cents a pound. The minimum requirements of Ingredient A, B & C are 90, 48 &1.5 ounces. The owner of the ranch would like to use LP to determine the lowest-cost diet that meets the minimum monthly intake requirement for each nutritional ingredient.<\/p>\n

    Required:<\/strong><\/p>\n

      \n
    1. Formulate a LPP.<\/li>\n
    2. Change the LPP in to its standard form.<\/li>\n
    3. Solve the LPP by using;<\/li>\n<\/ol>\n
        \n
      • Graphical method<\/li>\n
      • Simplex algorithm method<\/li>\n
      • Check for its post optimality (Sensitivity analysis)<\/li>\n<\/ul>\n
          \n
        1. Use an Excel solver to solve the LPP and compare your answer.<\/li>\n<\/ol>\n

          15).<\/strong>\u00a0 \u00a0A Medical Supply Company produces catheters in packs at three productions facilities. The company ships the packs from the production facilities to four warehouses. The table shows the costs per pack to ship to the four warehouses.<\/p>\n\n\n\n\n\n\n\n
          \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 To<\/strong>From<\/strong><\/td>\nSeattle<\/td>\nNew York<\/td>\nPhoenix<\/td>\nMiami<\/td>\nSupply<\/strong><\/td>\n<\/tr>\n
          Juarez<\/td>\n19<\/td>\n3<\/td>\n7<\/td>\n21<\/td>\n100<\/strong><\/td>\n<\/tr>\n
          Seoul<\/td>\n15<\/td>\n21<\/td>\n18<\/td>\n6<\/td>\n300\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/td>\n<\/tr>\n
          Telaviv<\/td>\n11<\/td>\n14<\/td>\n15<\/td>\n22<\/td>\n200<\/strong><\/td>\n<\/tr>\n
          Demand<\/strong><\/td>\n150<\/strong><\/td>\n100<\/strong><\/td>\n200<\/strong><\/td>\n150<\/strong><\/td>\n600<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

           <\/p>\n

          Required:<\/strong><\/p>\n

            \n
          1. Form a general linear programming form (standard form).<\/li>\n
          2. Find the optimum solution by using; 1. NWM, 2. Least-cost method, 3. VAM and check its optimality by using;<\/li>\n<\/ol>\n

            a.\u00a0<\/strong> Stepping-stone method<\/p>\n

            b.\u00a0<\/strong> MODI for evaluation purpose.<\/p>\n

             <\/p>\n

            16).<\/strong>\u00a0 \u00a0A marketing manager in XYZ Company wants to assign 4 salespersons to 4 regions. The table below summarizes the expected monthly sales revenue (in 1000\u2019s of Br.) that can be generated by each sales person in each region.<\/p>\n\n\n\n\n\n\n\n\n
            <\/td>\nRegions<\/strong><\/td>\n<\/tr>\n
            Sales Person<\/strong><\/td>\nWest<\/strong><\/td>\nSouth<\/strong><\/td>\n\u00a0East<\/strong><\/td>\nNorth<\/strong><\/td>\n<\/tr>\n
            Alemu<\/td>\n50<\/td>\n40<\/td>\n35<\/td>\n42<\/td>\n<\/tr>\n
            Abdi<\/td>\n35<\/td>\n30<\/td>\n29<\/td>\n27<\/td>\n<\/tr>\n
            Chaltu<\/td>\n28<\/td>\n40<\/td>\n25<\/td>\n38<\/td>\n<\/tr>\n
            Ahmed<\/td>\n26<\/td>\n35<\/td>\n30<\/td>\n34<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

             <\/p>\n

            Required:<\/strong><\/p>\n

              \n
            1. Form the general linear programming\/ the standard form.<\/li>\n
            2. Find the assignment schedule that maximizes expected sales revenue.<\/li>\n
            3. What is the expected total revenue?<\/li>\n<\/ol>\n

               <\/p>\n

              Reference ID:\u00a0#getanswers19120031<\/span><\/strong><\/p>\n