c. The model will be solved through the help of the objective function applied, in which the decisions variables will be used in terms of controlling the operations and also avoiding the constraints to get the maximized productivity. d. One of the main constraints in the functional operations was limiting the machine’s productivity due to the depreciation. Another main constraint was time management. The constraint that was not problematic was the labor issue, i.e. they worked properly. e. The reduction in the profit means either the low pricing or the higher material or labor costs. The value of the objective function will change because of the productivity concerns. Because as the material cost has increased, so a limitation will be applied on the working of the machine and the lesser productivity will be the case. f. The value of additional value of additional minute of time per week for the devices numbered 1 to 4 will be respectively as follows: 600, 390, 330, and 204. The company must add more test device time on 4th and 3rd device as they have experienced to be consuming lesser time. g. The management of the company should make the corrective measures in terms of the cost reduction techniques and profit maximizing mechanisms. The officials must hire firstly the trained engineers who must know everything about the functions of the machines and how the constraints can be avoided. The company needs maximum productivity and for that it is imperative to train the engineers or flour managers so that they already know what types of constraints can be there and must avoid them to keep the productivity maximized. Also the management must also make sure that the decision variables are only those that can really be controlled and they should be working for the interest of the company for taking the profits to maximized level, and also keeping the costs to the minimum level as that will be the key for the maximum profits. The company must also make sure that the objective functions are properly executed as they will be the important indicators for the success of the maximum productivity. Task 2: a. Mathematical expression for the linear programming function can be written as: The constraints are as follows: These constraints actually mean that the productivity will be low if the resources are not applied efficiently, and the one reason might be the inefficiency of the labor. b. The optimal solution will require the client to follow a specific diet each day which will maximize the chances and objectives which he intends to achieve. The chocolate of 50 grams and sugar of 100 grams might be the best diet for him through which he can meet his aims. This will also incur him the minimum cost, as his problem is more intense but it’s the job of his doctor to suggest the prescriptions that can cost him less but offer him more. c. The creation of the objective function required the programming for which the matlab and java are best programs. The data can be included there along with some calculations and programming. d. Yes, the resources are fully utilized and the materials before being utilized were in stable form and that is why the product quality will also be fine. The only source that was not utilized properly was related to the labor. The management experience of lesser labor doing more work that cannot be handled by them might be the one problem that caused the lack of the productivity that was
Task 1: a. The contribution per margin for Northern Hi-Tec E. Ltd will be calculated as follows: Contribution per margin= Gross profit/ total revenue The actual calculations will predict how much contribution is each of the company’s products making in terms of the total profit gained by the company…
The histograms were rendered using the graphing function of Microsoft Excel (2003). Figure 1.1. Histogram for the First and Second Quarter Average Order Size Combined Figure 1.1. Relative Frequency Distribution for the First and Second Quarter Average Order Size Combined Order Size Intervals Frequency Relative Frequency 0-20 0 0.00 20-40 0 0.00 40-60 0 0.00 60-80 0 0.00 80-100 3 0.02 100-120 18 0.14 120-140 41 0.33 140-160 38 0.30 160-180 15 0.12 180-200 7 0.06 200-220 3 0.02 220-240 1 0.01 126 1 The histogram and the relative frequency distributions, separately for the first and second quarter are shown below: Figure 1.2.
Relevant tools from statistics and probability were applied to extract useful information from a vast data set, to identify trends and to take business decisions. Analysis of average order numbers and order size has provided the information that there is consistent increase in the number of daily orders and average daily order size over consequent quarters.
The industry consists of three profit centers based in Florida, Arizona and Pennsylvania whose operations are being examined separately. 3 Introduction 3 Methods 3 Results, Conclusions and Recommendations 4 Answer to Question 1 4 Answer to Question 2 8 Answer to Question 3 10 Answer to Question 4 13 Answer to Question 5 14 Answer to Question 6 15 Answer to Question 7 16 Answer to Question 8 17 General Discussion 18 References 19 Bibliography 19 Anderson, D.
The objective of this report is to analyze the available data for Handy Hydraulics and find suitable strategies. Various statistical techniques such as analysis of the frequency distributions, analysis of measures of central tendency (mean, median, mode) and dispersion (variance, standard deviation, interquartile ranges), and probability analysis.
The company has been making decisions over time based on gut feelings and has recently decided to employ a statistician and analyst to analyse the data the company has collected in the past year. They have decided to focus on things like average daily order size for the last two quarters, total number of orders per day for all four quarters and the operations at the most recently opened profit centre.
Linear programming model. Northern H-Tec E. Ltd is combining the peripherals a, b, c, d, e, f to give out g and h. The presumed objective function in terms of a, b, c, d, e, f, g, h will be given by Maximum profit (z)= 157a+ ?156b+? 251c+?168d+?291e+ ?274f where a represents the number of internal modem to be produced, b is the number of external modem to be produced, c is the number of circuit boards to be produced, d is the number CD drives to be produced, e is the number of Hard disk drive to be produced, and f is the number of memory board to be produced.
This information cannot be processed manually by human beings, and it must get assistance from the devices that will make work easier through quick, efficient, and reliable analysis and reporting. In this regard, companies have to rely on the IT knowledge to realize most of their objectives in the company (Madden, n.d.).
d relative frequency distributions are presented in two ways, first when data for the first and second quarters are considered together and second, when data for the first and second quarters are considered separately. The histograms were rendered using the graphing function of
Next calculation will involve determining of the mathematical relationship for describing the constraints given in the problem. One relationship that is general is the quantity of resource that is utilized should be less than or rather equal to the
7 pages (1750 words)Essay
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you another Essay on topic Data Analysis for a business making for FREE!