- Solution Manual for Managerial Decision Modeling With Spreadsheets 3rd Edition by Balakrishnan
- Solution Manual for Managerial Decision Modeling with Spreadsheets 3rd Edition by Balakrishnan
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- Managerial Decision Modeling with Spreadsheets, 3rd Edition
Select Chapter, Table of Contents · Chapter 1: Introduction to Managerial Decision Modeling · Chapter 2: Linear Programming Models: Graphical and Chapter. Editorial Reviews. About the Author. N. Balakrishnan is a Professor in the Department of Managerial Decision Modeling with Spreadsheets 3rd Edition, site Edition. by. download Managerial Decision Modeling with Spreadsheets (3rd Edition) on site. com ✓ FREE SHIPPING on qualified orders.
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Managerial Decision Modeling with Spreadsheets 3rd Edition with spreadsheets 3rd edition pdf free managerial decision modeling 3rd. Managerial Decision Modeling with Spreadsheets, 3rd Edition. Nagraj Balakrishnan, Graduate School of Business, Rollins College. Barry Render, Graduate. Access Managerial Decision Modeling with Spreadsheets 3rd Edition solutions now. Our solutions are written by Chegg experts so you can be assured of the.
The monitors are ordered each week from an outside supplier. As an added feature, the retail store installs on each monitor a privacy filter that narrows the viewing angle so that only persons sitting directly in front of the monitor are able to see on-screen data.
Each 19" monitor consumes about 30 minutes of installation time, while each 17" monitor requires about 10 minutes of installation time. The retail store has approximately 40 hours of labor time available each week. The total combined demand for both monitors is at least 40 monitors each week.
How many units of each monitor should the retail store order each week to maximize its weekly profits and meet its weekly demand? Answer: 14 Copyright c Pearson Education, Inc.
Bodyworks, a nutrition health store, makes a powder supplement that combines creatine and protein from two ingredients X1 and X2.
Ingredient X1 provides 20 grams of protein and 5 grams of creatine per pound. Ingredient X2 provides 15 grams of protein and 3 grams of creatine per pound.
Bodyworks wants its supplement to contain at least 30 grams of protein and 10 grams of creatine per pound and be produced at the least cost. Determine what combination will maximize profits.
Answer: 15 Copyright c Pearson Education, Inc. The production process requires assembly and painting. Each bed requires 6 hours of assembly and 4 hours of painting. Each desk requires 4 hours of assembly and 8 hours of painting. There are 40 hours of assembly time and 45 hours of painting time available each week. As a result of a labor strike, the furniture store is limited to producing at most 8 beds each week.
Determine how many beds and desks should be produced each week to maximize weekly profits. Answer: 16 Copyright c Pearson Education, Inc.
Solution Manual for Managerial Decision Modeling With Spreadsheets 3rd Edition by Balakrishnan
The cones are prepackaged and sold to a supermarket daily. The ingredients used along with the minimum demand of each flavor are shown as follows: Ice Cream Flavor Chocolate Vanilla Chocolate-Vanilla Ingredient: Chocolate 4 oz. Vanilla 0 oz. Min daily demand: 20 scoops 15 scoops 10 scoops Each day, 40 pounds of chocolate and 38 pounds of vanilla are supplied to the ice cream shop from an outside vendor.
How many chocolate, vanilla, and chocolate-vanilla twist cones must prepackage daily to maximize daily profits? Answer: 17 Copyright c Pearson Education, Inc. For each product, the time required for these operations is shown below in minutes as is the profit per unit sold. How many of each product should the company make per year to maximize its yearly profit? Answer: 18 Copyright c Pearson Education, Inc. To ensure a healthy crop, a fertilizer and an insecticide must be applied at the beginning of the season before harvesting.
The farmer currently has pounds of the fertilizer and pounds of the insecticide at the beginning of the season. Each acre of wheat planted requires 10 pounds of the fertilizer and 12 pounds of the insecticide. Each acre of corn planted requires 13 pounds of the fertilizer and 11 pounds of the insecticide.
What is the optimal allocation for the crops that maximizes the farmer's profit? Answer: 19 Copyright c Pearson Education, Inc. The carpenter works a maximum of 40 hours per week and spends 5 hours to make a table and 2 hours to make a chair. Customer demand requires that he makes at least twice as many chairs as tables. Probabilistic also called stochastic models assume that some input data are not known with certainty.
Solution Manual for Managerial Decision Modeling with Spreadsheets 3rd Edition by Balakrishnan
That is, these models assume that the values of some important variables will not be known before decisions are made. Here again, students should be able to find several examples from the manufacturing and service sectors. For example, their own career based on their choice of a major for their undergraduate study can be modeled as a probabilistic model. Quantitative factors are typically identifiable and measurable, making their inclusion in the model relatively easy.
In contrast, qualitative factors measure such things as perceptions, feelings, and opinions. Although some qualitative factors do have scales of measures for example, we can classify opinions of the Presidents performance as good, fair, or poor , in general, they are difficult to quantify and measure. Unlike quantitative factor that have identifiable scales of measure for example, length may be measured in meters , many qualitative factors are not associated with any specific scale of measure.
Hence, it may be difficult to quantify these factors. Decision modeling is a step-by-step process that allows decision makers to investigate problems using quantitative techniques.
If You're a Student
The steps of the decision modeling process include defining the problem, developing a model, acquiring input data, developing a solution, testing the solution, analyzing the results, and implementing the results. In every case, the analysis begins with defining the problem. The problem could be too many stockouts, too many bad debts, or determining the products to produce that will result in the maximum profit for the organization.
After the problems have been defined, the next step is to develop one or more models. These models could be inventory control models, models that describe the debt situation in the organization, and so on.
Once the models have been developed, the next step is to acquire input data. In the inventory problem, for example, such factors as the annual demand, the ordering cost, and the carrying cost would be input data that are used by the model developed in the preceding step.
In determining the products to produce in order to maximize profits, the input data could be such things as the profitability for all the different products, the amount of time that is available at the various production departments that produce the products and the amount of time it takes for each product to be produced in each production department.
The next step is developing the solution. This requires manipulation of the model in order to determine the best solution. Next, the results are tested, analyzed, and implemented. In the inventory control problem, this might result in determining and implementing a policy to order a certain amount of inventory at specified intervals. For the problem of determining the best products to produce, this might mean testing, analyzing, and implementing a decision to produce a certain quantity of given products.
Solutions by Chapter
Sometimes we may discover during a later step of the decision modeling approach that we made a mistake in setting up an earlier step. For example, during the testing of the solution, we may notice that some of the input data are being measured incorrectly.
This means that the formulation and all subsequent steps have to be revised. For this reason, it is important to have an iterative process between the steps before the final solution is obtained.
Managerial Decision Modeling with Spreadsheets, 3rd Edition
Although the formal study of decision modeling and the refinement of the tools and techniques of the scientific method have occurred only in the recent past, quantitative approaches to decision making have been in existence since the beginning of time. In the early s, Frederick W. Taylor developed the principles of the scientific approach. During World War II, quantitative analysis was intensified and used by the military.
Because of the success of these techniques during World War II, interest continued after the war. The types of models mentioned in this chapter are physical, scale, schematic, and mathematical. The chapter provides examples of each type of model.In every case, the analysis begins with defining the problem.
These models could be inventory control models, models that describe the debt situation in the organization, and so on. Danny Britton.
This question involves the student using a little originality to develop his or her own LP constraints that fit the three conditions of 1 unbounded solution, 2 infeasibility, and 3 redundant constraints. Here again, students should be able to find several examples from the manufacturing and service sectors. This means that the formulation and all subsequent steps have to be revised.
We have solutions for your book! For many problems, a number of different sources are required to obtain data, and in some cases it is necessary to obtain the same data from different sources in order to check the accuracy and consistency of the input data.
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