If a linear programming problem's solution is not feasible: it is not fun O all constraints have not been met at least one constraint has not been net one or more decision variables has a negative value the objective function cannot be met
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- Don't solve. Please give- Decision Variable Constraint Objective functionFind decision variables, objective function, constraints and non-negativity constraints An auto company manufactures cars and trucks. Each vehicle must be processed in the paint shop and body assembly shop. If the paint shop were only painting trucks, 40 per day could be painted. If the paint shop were only painting cars, 60 per day could be painted. If the body shop were only producing cars, it could process 50 per day. If the body shop were only producing trucks, it could process 50 per day. Each truck contributes $300 to profit and each car contributes $200 to profit. In addition, the auto company can produce at most 30 trucks and 20 cars. The company wants to determine the daily production schedule that will maximize the company’s profit. Formulate the LP model for the problem.Select the components or elements in the formulation of the following model.: Linear optimization model Select one or more: constraints places supliers demands nature decisions strategy customers variants variables probability of states of nature decision-maker cost function payoffs non negativity constraints criterion states of nature criteria preferences criteria matrix players route evaluations capacities irational player
- Solve with explanation:Problem 16-15 (Algorithmic) Strassel Investors buys real estate, develops it, and resells it for a profit. A new property is available, and Bud Strassel, the president and owner of Strassel Investors, believes if he purchases and develops this property it can then be sold for $160,000. The current property owner has asked for bids and stated that the property will be sold for the highest bid in excess of $100,000. Two competitors will be submitting bids for the property. Strassel does not know what the competitors will bid, but he assumes for planning purposes that the amount bid by each competitor will be uniformly distributed between $100,000 and $150,000. Develop a worksheet that can be used to simulate the bids made by the two competitors. Strassel is considering a bid of $130,000 for the property. Using a simulation of 1000 trials, what is the estimate of the probability Strassel will be able to obtain the property using a bid of $130,000? Round your answer to 1 decimal place.…SIMPLEX METHOD A factory makes tennis rackets and cricket bats. A tennis racket takes 1.5 hours of machine time and 3 hours of craftsman’s time in its making while a cricket bat takes 3 hour of machine time and 1 hour of craftsman’s time. In a day, the factory has the availability of not more than 42 hours of machine time and 24 hours of craftsman’s time. If the profit on a racket and on a bat is Php 20.00 and Php 10.00 respectively, find the maximum profit of the factory when it works at full capacity.
- Discuss the five (5) steps of the Theory of Constraints and apply each to asimulation/assumption of a constraint impacting Jaguar.need the solveCalculating outcomes as equally likely would BEST describe: O a. Maximax criterion O b. Laplace criterion O c. Regret criterion Od. Maximin criterion Determining the average payoff for each alternative and choosing the one with the BEST payoff is the approach called: ea, maximax O b. minimax regret O c. laplace Od maximin 2