Instruction: This is a take-home exam. Solve the following questions and provide your answers in the spreadsheet “Answer sheet” tab. See Canvas for the due date and submission details.Mid-term Exam (Fall 2020)
Instruction: This is a take-home exam. Solve the following questions and provide your answers in the
spreadsheet “Answer sheet” tab. See Canvas for the due date and submission details.
Question 1: Match each of the left-hand-side terms with two of the right-hand-side descriptions (fill the
blank boxes in the “Answer sheet” tab with numbers representing the options on RHS)
LHS
Optimization model
Heuristic model
Simulation model
Statistical model
1
2
3
4
5
6
7
RHS
Not all problems can be solved by this model, and the solution time can be long
Useful for forecasting demand and other uncertain business parameters
Highly flexible model which can be regarded as the “last resort”
This can provide fast solution to many problems that are difficult to solve
This a prescritive model
This is a descriptive model
This is a predictive model
For questions 2-3 refer to the following scenario. Suzuki Electronics Manufacturing Co. produces three
different models of telecommunications interface cards for personal computers (models A, B, and C).
Each of these devices requires different amount of PC board, resistors, memory chips, and assembly labor
time. The following table shows the resource requirement of each model.
Resource requirements of each model
Model A Model B Model C
PC Board (sq in)
20
15
10
Resistors
25
20
20
Memory chips
10
10
5
Assembly Hours
1.00
0.50
1.50
In the next production period, the company has 50,000 square inches of PC board, 75,000 resistors,
30,000 memory chips, and 8,000 hours of assembly labor time available. The company makes a unit
profit of $200, $150, and $100 for models A, B, and C, respectively. The marketing department suggests
that the production of each model do not exceed the following figures: Model A = 200, Model B = 120
and Model C = 50. The company’s objective is to maximize its profit by finding the optimal number of
production. Let Model A production units = X1, Model B production units = X2, and Model C production
units = X3.
Question 2: Match each of the left-hand-side terms with one of the right-hand-side descriptions (fill the
blank boxes in the “Answer sheet” tab with numbers representing the options on RHS).
LHS
Objective function
Resource constraint for memory chips
Resource constraint for PC board
Non-negativity constraints
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
RHS
10X1 – 10X2 -5X3 >= 50,000
10X1 + 10X2 + 5X3
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