QUESTIONS need to be answer

1) If you rent 3 copiers what daily demand for copies will allow you to break even? Create an Excel Model and calculate the breakeven point. Interpret your findings

2) Discuss how a change in number of rented copiers affects profit. Create a one-way table and interpret the results for decision making.

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3)Discuss how a change in number of copiers rented and daily demands of 500, 1000, 1500, and 2000 copies per day jointly affect profit. Create a two-way table and interpret the results for decision making

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  • 4) Model this question as a linear programming problem. Define decision variables, create objective function, create constraints and write your model in a text box in the Excel worksheet 5) Transfer this model to Excel and operationalize it 6) Solve the model and find the optimum solution and interpret the results
  • Instructions:1. You need to submit one Excel File
    2. Each answer should be on a separate worksheet within the file. Please name worksheets
    as Answer1, Answer2, Answer3, etc.
    You are thinking of opening a small copy shop by renting copiers. It costs $5000 to rent a copier
    for a year, and it costs $0.03 per copy to operate the copier. Other fixed costs of running the
    store will amount to $400 per month. You plan to charge an average of $0.10 per copy, and the
    store will be open 365 days per year.
    1) If you rent 3 copiers what daily demand for copies will allow you to break even? Create an
    Excel Model and calculate the breakeven point. Interpret your findings
    2) Discuss how a change in number of rented copiers affects profit. Create a one-way table and
    interpret the results for decision making.
    3) Discuss how a change in number of copiers rented and daily demands of 500, 1000, 1500,
    and 2000 copies per day jointly affect profit. Create a two-way table and interpret the results
    for decision making

    The breakeven point occurs where your profit is equal to zero: Total Revenue = Total

    Profit = Total Revenue – Total Cost

    Total Cost = Variable cost + Fixed Cost

    Revenue = Quantity * Price
    You are on a diet and suppose there are three foods available, corn, milk, and bread. Since it is
    a diet, there are restrictions on the daily number of calories (at least 2000 and at most 2250)
    and the amount of Vitamin A (at least 5000 and at most 50,000). The table below lists, for each
    food, the cost per serving, the amount of Vitamin A per serving, and the number of calories per
    Cost per serving
    Vitamin A
    2% Milk
    Wheat Bread
    Suppose that the maximum number of servings from each food for each day is 10.
    What should be the servings of each food with a healthy diet at minimum cost?
    4) Model this question as a linear programming problem. Define decision variables, create
    objective function, create constraints and write your model in a text box in the Excel
    5) Transfer this model to Excel and operationalize it
    6) Solve the model and find the optimum solution and interpret the results
    An automotive company manufactures cars in three plants and then ships them to four regions
    of the country. The plants can supply the following amounts:
    Plant 1 = 450
    Plant 2 = 600
    Plant 3 = 200
    Each regions demands are given as:
    A = 450
    B= 200
    C= 300
    D= 300
    The unit costs of shipping a car from each plant to each region are listed in the table below. The
    company wants to find the lowest-cost shipping plan for meeting the demands of the four
    regions without exceeding the capacities of the plants.
    7) Formulate a linear programming model to minimize the cost of transportation by meeting
    each region’s demand. Define your decision variables, objective function, and constraints.
    Put your model into a textbox in your Excel sheet
    8) Transfer this model into Excel and operationalize it
    9) Find the optimum solution with Solver and interpret it in a textbox
    10) If for some reason, the company cannot carry any cars from Plant 1, how would you
    modify your model? Write your answer in a textbox. You do not need to solve it. Just tell
    me how you would modify your model.
    Plant 1
    Plant 2
    Plant 3
    Good luck!


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