Optimizing Production and Profit with Operations Research
Explore optimization strategies for maximizing profit in smartphone and window manufacturing scenarios. Learn about Operations Research, descriptive analytics, and applications of prescriptive analytics in decision-making processes.
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Question Paper 05.02.2020
MSA smartphones, the Alpha 4 and the Beta 5. The firm employs five technicians, working 160 hours each per month, on its assembly line. Management insists that full employment (i.e., all 160 hours of time) be maintained for each worker during next month s operations. It requires 20 labor hours to assemble each Alpha 4 computer and 25 labor hours to assemble each Beta 5 model. MSA wants to see at least 10 Alpha 4s and at least 15 Beta 5s produced during the production period. Alpha 4s generate $1,200 profit per unit, and Beta 5s yield $1,800 each. Determine the most profitable number of each model of smartphone to produce during the coming month. (7 Marks) Computer Corporation manufactures two models of
The Whitt Window Company, a company with only three employees, makes two different kinds of hand-crafted windows: a wood-framed and an aluminum-framed window. The company earns $300 profit for each wood-framed window and $150 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. The company wishes to determine how many windows of each type to produce per day to maximize total profit. (7 Marks)
(2 marks each) Why Operations Research is called a scientific approach? What is descriptive analytics? Write applications of prescriptive analytics.
