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Assignment 4 - Linear Programming

The document describes 4 questions for an assignment on linear programming. Question 1 involves formulating a linear model to maximize profits from producing two types of windows given constraints on employees' time and materials. Question 2 involves maximizing total profits from two new insurance product lines given constraints on departments' work hours. Question 3 provides a formulated linear model and asks to find the optimal solution graphically and algebraically. Question 4 describes investing in two entrepreneurial ventures to maximize estimated profits given constraints on time and money investments. It asks to formulate a linear model to find the best combination of investments.

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An Hai
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256 views

Assignment 4 - Linear Programming

The document describes 4 questions for an assignment on linear programming. Question 1 involves formulating a linear model to maximize profits from producing two types of windows given constraints on employees' time and materials. Question 2 involves maximizing total profits from two new insurance product lines given constraints on departments' work hours. Question 3 provides a formulated linear model and asks to find the optimal solution graphically and algebraically. Question 4 describes investing in two entrepreneurial ventures to maximize estimated profits given constraints on time and money investments. It asks to formulate a linear model to find the best combination of investments.

Uploaded by

An Hai
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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ASSIGNMENT #4 – LINEAR PROGRAMMING

Deadline: Wednesday, 04/04/2018 in class


Question 01:
The Whitt Window Company is a company with only three employees which makes two different kinds
of hand-crafted windows: a wood-framed and an aluminum-framed window. They earn $60 profit for
each wood-framed window and $30 profit for each aluminum-framed window. Doug makes the wood
frames, and can make 6 per day. Linda makes the aluminum frames, and can make 4 per day. Bob forms
and cuts the glass, and can make 48 square feet of glass per day. Each wood-framed window uses 6
square feet of glass and each aluminum-framed window uses 8 square feet of glass.

Formulate a linear programming model for this problem


Question 02:
The Primo Insurance Company is introducing two new product lines: special risk insurance and
mortgages. The expected profit is $5 per unit on special risk insurance and $2 per unit on mortgages.
Management wishes to establish sales quotas for the new product lines to maximize total expected profit.
The work requirements are as follows:

Work Hours per Unit


Special Mortgage Work Hours
Department Risk Available
Underwriting 3 2 2400
Administration 0 1 800
Claims 2 0 1200

a) Formulate a linear programming model for this problem


b) Use the graphical method to draw the feasible solution
c) Use the corner point method to find the optimal solution
Question 03:
Given the formulated linear programming as follow:
Maximize 𝑍 = 10𝑥1 + 20𝑥2
Subject to: (constraints)
−𝑥1 + 2𝑥2 ≤ 15
𝑥1 + 𝑥2 ≤ 12
5𝑥1 + 3𝑥2 ≤ 45
𝑥1 , 𝑥2 ≥ 0
a) Use the graphical method to draw the feasible solution
b) Use the corner point method to find the optimal solution
Question 04:
This is your lucky day. You have just won a $10,000 prize. You are setting aside $4,000 for taxes and
partying expenses, but you have decided to invest the other $6,000. Upon hearing this news, two different
friends have offered you an opportunity to become a partner in two different entrepreneurial ventures, one
planned by each friend. In both cases, this investment would involve expending some of your time next
summer as well as putting up cash. Becoming a full partner in the first friend’s venture would require an
investment of $5,000 and 400 hours, and your estimated profit (ignoring the value of your time) would be
$4,500. The corresponding figures for the second friend’s venture are $4,000 and 500 hours, with an
estimated profit to you of $4,500. However, both friends are flexible and would allow you to come in at
any fraction of a full partnership you would like. If you choose a fraction of a full partnership, all the
above figures given for a full partnership (money investment, time investment, and your profit) would be
multiplied by this same fraction.

Because you were looking for an interesting summer job anyway (maximum of 600 hours), you have
decided to participate in one or both friends’ventures in whichever combination would maximize your
total estimated profit. You now need to solve the problem of finding the best combination.

Formulate a linear programming model for this problem

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