Category: Uncategorized

Malabar Gold and diamond company ECONOMICS REPORT

NAME

AFFILIATION

Question 1

The name of the company is Malabar Gold and diamond and the branch which the students (in a group of 5) had visited has been in operation since the last couple of years located near ruwais mall near to their college. The company has 5 branches in UAE. It is famous for its jewelry making and watches made of precious items like Gold, Platinum and other gems. The company has been operational since the last 6 years and currently has an annual turnover of $3.5 billion (Heyne, Boettke, Prychitko, 2014).The company has also established 10 additional whole sale units apart from the offices, design centers and the factories. The target customers of the company is every range and it maintains a unique collection for every individual regardless of age. The majority of the ornaments available at their restaurants ranges from 18,000 to 22,000 making it relatively easy for the average customer to have access to it hence quadrupling the sales.

Question 2

The law of demand is a very common law that prevails in every industry. It simply states that the price of the product will fall if the quantity demanded decreases and vice versa. In the context of this company, the primary products of the company are gold and diamonds but it is an interesting fact that the price of the gold ornaments are less than the diamond ornaments at present (Heyne, Boettke, Prychitko, 2014). The recent fluctuations have caused the increase in the gold price hence the demand should have been decreased. However, in the case of this company this is not the case. It is evident from their financial structure that they have introduced two schemes by the name of Malabar monthly scheme and the wedding purchase scheme. The primary reason for the introduction of such schemes is that the company allows you to invest for a period ranging from 3 months to three years with three or thirty six installments respectively. These schemes have the embedded option available which allows you to lock in the gold rate which was at the initiation of the time of installments. In a country like India, where women are highly attracted to it and follows the traditional custom of wearing it at different occasions. Gold is also considered as a good investment as majority of the people do invest in gold or companies who are in the business of mining gold in order to earn superior returns than the market.

The above mentioned facts have allowed the demand of the gold to rise even if the prices are rising. This is a violation of the law of demand but it can be termed as capturing of the niche market which has allowed the expensive metals like gold and diamonds within the grasp of a common man who would have only thought to give gold to his daughter at the time of his marriage.

Question 3

On the contrary, scarcity is the primary economic problem which implies that there are unlimited wants existing in the human world and there are very few resources to satisfy it. In other terms, the concept of scarcity can be stated as there are limited resources for the satisfaction of unlimited human wants. In the context of the above mentioned definition, it is evident that to obtain something one has to give up or trade off something. The price of the good involved in this matter reflects the scarcity of this good (Mankiw, 2007).

When we discuss the company Malabar gold and diamond, it can be seen that the element of scarcity is prevailing in the society as the people intends to purchase more and more gold, they have to quit some of their wants or have to make a sacrifice to obtain the gold. The concept of scarcity is vital to survive in the real world because it results in the arousal of competition which subsequently results in people striving with each other in order to qualify for the criteria which will be used to determine who will be able to get the most. The system of pricing in the community is responsible for allocation of the resources (Mankiw, 2007). If the society tends to make economic improvements on the monetary terms basis then people will work hard to get monetary benefits. Gold and diamond ornaments is a want which will be satisfied as people will be more oriented towards savings that will help them to earn gold. The company pricing policy has resulted in such circumstances that the price gap has been greatly reduced hence the concept of scarcity of resources is easily being met. The branch has a lot of products hence the reason at why the client prefer to do business with the main branch.

References

https://www.malabargoldanddiamonds.com

Heyne, Paul; Boettke, Peter J.; Prychitko, David L. (2014). The Economic Way of Thinking (13th ed.). Pearson.  HYPERLINK “http://en.wikipedia.org/wiki/International_Standard_Book_Number” o “International Standard Book Number” ISBN  HYPERLINK “http://en.wikipedia.org/wiki/Special:BookSources/978-0-13-299129-2” o “Special:BookSources/978-0-13-299129-2” 978-0-13-299129-2.

Mankiw, G (2007). Principles of Economics. South-Western Cengage Learning. p. 470.  HYPERLINK “http://en.wikipedia.org/wiki/International_Standard_Book_Number” o “International Standard Book Number” ISBN  HYPERLINK “http://en.wikipedia.org/wiki/Special:BookSources/978-0-324-22472-6” o “Special:BookSources/978-0-324-22472-6” 978-0-324-22472-6.

Brainstorming Informative Speech Topics

STUDENT’S NAME:

INSTITUTIONAL AFFILIATION:

COURSE:

PROFESSOR’S NAME:

SEPTEMBER 18, 2020

Brainstorming Informative Speech Topics

Private Prisons in the US

GENERAL PURPOSE: To inform about the continuous emergence of privatized prisons in the United States of America.

SPECIFIC PURPOSE: To inform my audience on the significance of the private prison system in the US criminal justice.

THESIS STATEMENT: The overcrowding witnessed in US public prisons due to increased incarcerations has necessitated alternative ways of housing inmates such as privatized prisons.

MAIN POINTS:

As of 2020, the United States prison system had approximately 2.4 million adults incarcerated, a population larger than some major American cities.

According to reports by the US Bureau of Justice Statistics, as of 2018 about 128,063 inmates were held in privately run prison facilities which is a 47% increase from 87,369 inmates in 2000.

Privatized prison system saves the US federal government 20% cost of housing an inmate as well as the burden of prison administration.

Domestic Violence in the US

GENERAL PURPOSE: To inform on the current prevalence of domestic violence in the United States amidst the economic downturn caused by the covid-19 pandemic.

SPECIFIC PURPOSE: To inform my audience about the main victims of domestic violence and how they can be saved.

THESIS STATEMENT: Domestic violence is a serious public health problem in the US which requires mass sensitization for its prevention.

MAIN POINTS:

Domestic violence comes in various forms of abuse such as physical, emotional, sexual, and economic, and the victims are majorly the perceived weaker groups such as children, women, and the elderly.

According to various studies conducted in the US, there are approximately 1500 deaths recorded annually that are directly related to domestic violence.

Children who witness or are victims of domestic or family violence are highly likely to engage in it in the future as a mean of conflict resolution in relationships.

Covid-19 Pandemic: What we have Learnt

GENERAL PURPOSE: To inform on what covid-19 pandemic has revealed about our global healthcare system.

SPECIFIC PURPOSE: To inform my audience about the useful economic and healthcare lessons that we have acquired from the covid-19 pandemic for future use in case of a similar flu outbreak.

THESIS STATEMENT: Covid-19 pandemic exposed the unpreparedness and poor healthcare policies that underline healthcare provisions in most developed economies.

MAIN POINTS:

Proper funding of medical research is a very important arsenal in disease prevention.

Healthcare is a universal and basic need that should be a priority for all governments.

There is need for the world economic system to be primarily predicated on technological production to prevent future economic downturn as currently witnessed.

Anti-Racism Movements: Black Lives Matter

GENERAL PURPOSE: To inform on the current anti-racism movements witnessed around the globe on the endemic racism against black people.

SPECIFIC PURPOSE: To inform my audience on what Black Lives Matter movement in the United States of America is all about and its goals.

THESIS STATEMENT: The endemic racial prejudice and state-sanctioned violence against blacks that continues to be witnessed in the US ethically obliges every patriotic American to join the Black Lives Matter movement in dismantling the injustices.

MAIN POINTS:

The Black Lives Matter (BLM) Global Network was officially established in 2013 after the acquittal of George Zimmerman who killed Trayvon Martin, a 17-year-old Black teenager, as he walked from his local store towards home (Ramaswamy, 2017).

The primary goal is to intervene in cases of state-sanctioned or vigilante violence against blacks, and to eradicate any form of white supremacy.

The public protests by BLM activists and supporters does not in any way imply that other lives do not matter save for blacks, rather it is against the racial prejudices that is more directed towards the black community.

Brainstorming exercise is primarily important for the organization of one’s creative thoughts on a given topical issue. It gives freedom for the exploration of as many ideas as possible, and the final selection of the main ones that effectively supports the central idea. Additionally, it gives a clear roadmap for writing which quickens the whole process.

Student’s name

Lecturer’s name

Course

Date

Breach of Informal Norms

Informal norms are casual behaviors that society members conform to provide guidance and direct behavior, thus bringing order in society. Informal norms are an essential part of society because they allow members to understand each other and create predictable social relationships. Reactions to a breach of informal norms vary depending on the relationship between the two parties in play. The OpenStax textbook states, “First, consider the

elements of a relationship. One is attachment, or the bond that people form with each

other. (OpenStax chapter 4, section 1). For the breaching of informal norms experiment, I decided to take the lift while facing the opposite direction from everybody in the lift. Normally elevator etiquette dictates that people fill it starting from the back as they face the door. I choose the school resource center’s elevator on a Monday because it is usually full of students. People got into the lift and faced the door as they waited for it to move and reach their respective floors. Additionally, people in an elevator tend to maintain silence throughout unless they share s special connection like a friendship. I got into the lift last and faced people in the lift. To make it more interesting, I decided to take another step and plug my earphones and dance like it was commonplace for the activity. However, no music was playing on my phone the whole time. I identified two individuals in the lift and tried to maintain steady eye contact by persistently staring at them and watching their reactions.

The elevator consisted of a total of ten individuals of different genders. Two individuals expressed amusement in my actions. On the other hand, five people, particularly those close to me, expressed discomfort. According to the OpenStax textbook, “what is considered deviant is determined not so much by the behaviors themselves or the people who commit them, but by the reactions of others to these behaviors.” The lady right in front of me removed her phone from her purse started scrolling to distract herself from whatever I was doing and avoid eye contact. The man next to her covered his face with his hands in disbelief and looked down the whole time in the elevator. He avoided eye contact with me because it made him uncomfortable. In this experiment, I broke the informal norm that requires people to face the same direction and not interfere with personal space since it’s a small cubicle and is for a short while. The discomfort and amusement of people in the elevator made my actions feel awkward and out of place.

Shifting the social context and introducing this informal norm in a different physical setting. The breach of the informal norm in the elevator opened my mind and allowed me to realize how society, mainly human behavior, is guided and controlled by unspoken rules. The reactions from the people in the elevator made me feel a little embarrassed. However, I had to see it through and gather as much information as possible through their reactions. It helped me appreciate the presence of unspoken rules in society.

Governance:

Student Name:

Institution:

Governance

A two party system creates challenges to governance and policy for the public good. Every individual voter deserves a chance to vote for whatever view point they hold since the more democracy the more the fairness . A system with multiple parties rather than the republicans and democrats only allows for a wider variety of policy options since there is a greater pool of collective intelligence.

The growth and influence of the independent voter is constructive to governance especially due to their tendency of voting for issues and candidates with promising political ideologies rather than aligning themselves with political parties pledging loyalty regardless of the policies being advanced. However this growth would be detrimental in that, it may lead to emergence of many minority groups and hence affect the unity of the nation.

The growth and influence of the private corporations would create challenges to good governance due to the fact that the corporations could be used as vehicles to manipulate the public opinion (Kennett, 2008). This is made worse by the fact that they have same rights as individuals and have little disclosure of their financial activity. They would however be constructive in the case of full disclosure and transparency.

The reach influence of lobbyists is constructive in that it help to keep the government in check and they operate as the political watch dogs to check on the formulation and implementation of policies and also act as the voice of the minority groups (Kennett,2008)

The governance system and policy process is responsive to the American people since it has in place structures to collect and evaluate information that deals with the needs of the citizenry and operates under laws of democracy and the rule of law.

Reference

Kennett, P. (2008). Governance, globalization and public policy. Cheltenham, UK: Edward Elgar.

A Very Human Future

Student’s Name

Institutional Affiliation

Course Tittle

Professor’s Name

Date

PART 1: Technological Bursts of Possibility and Disruption

In this paper, I will focus on part one, which is named ‘Technological Bursts of Possibility and Disruption.’ Upon reading this chapter, I realize that as society gets into the fourth industrial revolution, one of the major questions arises whether we can harness the intense technological burst of likelihood to bring about a better world. It evaluates how the evolution of society, businesses, governments, cities, and nations are being surprisingly entwined by exponential high-tech disruption. It focuses on the exploration of how we can make technology serve humanity’s highest ambitions and needs.

This part one is a litany of what is taking place in advanced technologies, for instance, artificial intelligence, resulting in the transformation of industries, cloud computing, the Internet of Things (IoT), 5G networks, quantum computing, 3D/4D printing, and space exploration. It also results in the convergence of a variety of more than a few fields, including autonomous vehicles, machine learning, robotics, and drones. It has taken away numerous jobs, creating employment. This chapter is also a clarion call for individuals to be proactive, develop coping mechanisms, and benefit from their participation in the new industrial revolution. It presents snapshot situations of how complex and critical economic, social, geopolitical, and technological aspects might play out and interrelate over the subsequent 25 years. The chapter, Harnessing Technological Bursts of Possibility, emphasizes a number of the technologies that disrupt the universe, the innovative industries and career opportunities they will create, and the important roles of forethought and individuals centrical thinking in guaranteeing a viable future of the people and the firms.

On the other hand, the future evolution of artificial intelligence clarifies the basics of artificial intelligence. It highlights the types of applications we might have in the next 15-20 years and provides intuitions into seven likely phases through which it might develop. Artificial intelligence and machine learning technologies play a crucial role in modern-day success in reference to the class readings. Implementing and making artificial intelligence and machine learning changes to improve supply chain management is a relatively new concept that positively impacts. Web services offer technical assistance, exceedingly scalable and consistent infrastructure capacity, and help clients with their research, remote work and learning, and other solutions to address their needs. Part 1 proceeds by presenting examples of how robotics and connected devices particularly could impact the future. It also presents examples of how robotics and connected devices majorly could change a range of life experiences expectantly for the better. The pace of artificial intelligence advancement appears probably to continue, and one thing to be expected is to see consistent advances that blow our collective thoughts. Advancing from reasoning systems to AGI is not similar to the exponential advancement we have developed familiarized to in internet connection speeds, computer power, and memory storage. From this part, it is clear that over the next 15-20 years, the universe is likely to go through several important transformations as this “Fourth Industrial Revolution” enabled by smart machines touches every life, nation, and sector on the planet.

Q1. Brand resonance framework

Brand resonance looks at how well a consumer is able to relate to an element of a brand depicting individual perception of a brand including values. From the Benetton’s case, the positive aspects of the strategy used include invoking a sense of national pride among consumers, attaching the brand positioning to issues relating to the society, increasing brand recall through the use of memorable images and stirring social awareness, and getting the brand to occupy the minds of the target market without necessarily using an expensive marketing budget. Nonetheless, some negative issues emerged. The company had deviated from fashion advertising to raising social consciousness on different matters. Additionally, the new campaign had strong reactions which included boycott and consumers attaching the brand to a political movement. The criticism of the entire campaign led to a further decline in sales even though brand recall and recognition were higher.

Q2. Brands effectively increasing social awareness without creating controversy

In the last few years, brands have taken different stands on social issues such as human rights, working conditions, police brutality, slavery, and child labor. In these instances, social awareness on various matters were increased for the benefit of the society. From the Benetton’s case, the company takes a position and creates controversy. However, it is possible for a company to increase social awareness without creating controversy. For example, Benetton strategy on highlighting social issues could have involved the mention of the inequality issues in the American society without necessarily using provocative images of black and white people. Cuffing a black man and a white man together raised several questions and prompted a conversation regarding the fate of the black man in America. However, a black lady breastfeeding a white woman created controversy that could be avoided. By contrast, Nike’s stand in refusing to work with external agents who practice child labor is an example of how social awareness can be made effective without controversy.

A typed 8-10 page paper is required. The subject options for the paper are as follows:

The use of Hearsay evidence in the Court Room (including the 6th Amendment confrontation clause and exceptions to the Hearsay rule)

The Exclusionary rule and its applications

The use of evidence to determine guilt or innocence (including the guilty plea system, Plea Bargaining, and Victims’ Rights Laws)

Witnesses and their testimony (constitutional of defendants regarding witnesses, credibility of the witness, direct and cross examination)

You can cite cases, any other type of publication, including: Journals, Books, Internet Articles, etc.

The paper must:

Be double-spaced

Include 1.25-inch margins

Use Times New Roman 12-point type

It should include:

A title pageAn introduction

Body of paragraphs with subheadings

Conclusion

A reference page with 10 to 15 cited works

Of the total works cited, half should be from academic journals or books published by an academic press. Works cited and the references should be in APA format. The subject of the paper must be any subject matter related to Criminal Justice. (You can cite cases, or any other type of publication.)One point may be deducted for each day that the paper is late, after the due date and before the cut-off date (at professor’s discretion).

Your paper will be graded based on the Communication Grading Rubric (shown below).

Turnitin:

Your paper is subject to review for text comparison by Turnitin, a plagiarism detection service. You are required to submit your paper through a direct Turnitin Assignment link provided in the Modules section of Canvas.

Papers must be legitimate and not previously submitted. Please be aware that submitted papers will reside in Turnitin’s database.

There is no need to create a Turnitin account. Just click on the link provided and you will be automatically directed into the assignment submission.

Review the detailed Turnitin Instructions (Links to an external site.) on how to submit your Policy Paper.

In support of Academic Integrity at Florida International University, Turnitin will be used to review the papers that you submit in this course.  Turnitin does not determine whether plagiarism has taken place or not.  Turnitin will also not be used as a punitive tool or measure.  The instructor of this class will use the reports that Turnitin generates as a basis for the thorough evaluation of the authenticity and originality of your work and the work of your classmates.

Majority Vs. Minority

Name

Institution

Year

The term majority rule is rooted in the democratic system of government and this has its merits and demerits. The notion of the majority as the right group has for centuries been upheld with the system showing its weaknesses in some cases. The majority over the minority is not always the right approach to equity in ruling as it makes the minority feel left out. For example, in a case where the opinions of the minority are not considered, the lesser group always feels left out and thus not part of the progress being made. For a balanced outlook and stability, it is always good to take in the opinions of all the people. John Stuart’s observation on the majority over minority as a bad system holds weight because it is not guaranteed that the majority will always be right. To ensure that all people feel included in the affairs of a country, the system needs to be established on an all-inclusive decision-making approach.

The political alignments of a country remain one of the obstacles to achieving a collective and all-inclusive approach to governance and decision making. One of the main issues with the majority over the minority system is that there is likelihood of monopoly that hinders effective decision making (Lee, 2015). For example, the majority will always feel powerful and thus the decision they make may be wrong and meant to undermine or counter the minority. This system that is more enshrined within the democratic governments has been questioned over its fairness and inclusivity because it gives no room for the minority (Scharpf, 2017). Sometimes the minority turns to be the right side but their decisions or opinions hardly reach the table and thus the wrong side ends up leading that is the cause of divisions and little progress. Everyone should feel entitled to give their opinion irrespective of their side so that mature, powerful, and non-partisan ideas can be raised for the good of all people.

References

Lee, F. E. (2015). How party polarization affects governance. Annual review of political science, 18, 261-282.

Scharpf, F. W. (2017). De‐constitutionalisation and majority rule: A democratic vision for Europe. European Law Journal, 23(5), 315-334.

MGMT 303 Organizational Behavior

Name

Institution Affiliation

Final Exam Questions

Question 3

Identify and discuss how prejudice and discrimination practices hurt an organization

Prejudice and discrimination in an organization adversely impacts the firm’s growth and success. The stress triggered by prejudice and discrimination as well as other forms of harassment in the workplace affects employees mentally and sometimes physically deteriorating their morale and motivation to work for the organization. Prejudice and discrimination facilitates a poor working culture where the workforce losses focus and demonstrates counterproductive conduct like reporting on work late or not completing their task on a timely basis. Consequently, the organization experiences lower productivity, and performance due to decreased employees’ motivation alongside high employee turnover.

Question 4

Identify and describe three theories of motivation

Expectancy Theory

Expectant theory postulates that a person tends to act or behave in a specific manner based on the anticipation that the action or behavior will be followed by an expected outcome as well as the attractiveness of the results to the individual.

Reinforcement Theory

Reinforcement theory states that individuals’ behavior is founded on the law of effect where individuals’ behaviors in an organization are based on the consequences.

Equity Theory

According to the equity theory, an individual’s motivation is directly linked to how the organization treats them compared to how it treats others to determine if they are treated in a corresponding manner.

Question 5

Identify and describe the three major benefits from re-defining work.

Redefining work can confer several benefits to an organization, including the following:

Creating Value. Redefining work can strengthen an organization’s competitive position by enhancing customer value and creating additional value for an organization’s internal customers, such as employees and sales revenues.

Skill Development. Redefining work enhances the capacity of employees to acquire skills faster, improve their performance levels and improves their motivation in utilizing these acquired skills.

Adapting to changes. Organizational changes such as mergers and acquisition provide an opportunity to redefine work to take advantage of the diversity of the group.

Question 7

Identify and discuss the important issues associated with trust and working work relationships.

Trusts and working relationships forms the foundation of all associations and interactions between the management and workforce when it comes to organizational performance. An organization with the capacity to establish a robust sense of trust and working relationship is capable of weathering through its challenges besides making its vision clearer. The relationship between and organization’s management and its employees is critical in the improved performance and success of any organization. Trust between an employer and employees fosters transparency, improved communication, enhanced organizational performance due to increased morale and motivation amongst the management and workforce. Moreover, trust and working relationships in an organization enable a firm to work more effectively as a team, rather than a single entity.

Question 8

Identify and describe five factors that make for a cohesive work group at an organization.

Listed below are some of the key factors affecting team cohesion in the workforce.

Passion and Attitude. Human beings usually associate more closely with other persons who share common interests or beliefs and employees are no different. Team cohesion depends on the ability to develop a common attitude towards the attainment of a common objective.

Previous group success. When team members successfully attain their objectives in one project, all members share in the victory, enhancing team cohesion.

Threats and Challenges. When team members are faced by a common threat, they put aside personal interests and unite in a bid to overcome a common obstacle, thus leading to a cohesive team.

MGNT 3150 Management Science

Homework Assignment 1

Topic Questions Value

Chapter 1 Question 1 5 points

Question 2 5 points

Chapter 2 Question 3 6 points

Question 4 9 points

Question 5 12.5 points

Chapter 3 Question 6 12.5 points

Chapter 4*

Question 7 or Question 8 (Choose one)* 12.5 points

Chapter 7 Question 9 12.5 points

Total Questions 75 points

* You need to answer only Question 7 or Question 8 for Chapter 4.

You MUST submit your file as a ONE .doc or .pdf file. Other formats (.jpeg, .png, etc.) will not be accepted.

Chapter 1: An Introduction to Management Science

Question 1 (5 points): Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Micro- soft Excel in statistical analysis. The projected fee for the seminar is $600 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $9600. Micromedia rents computers for its seminars at a cost of $120 per computer per day.

Develop a model for the total cost to put on the seminar. Let x represent the number of students who enroll in the seminar. (1 point)

9600 + (2*120x) = 9600+ 240x

Develop a model for the total profit if x students enroll in the seminar. (1 point)

600x – (9,600 + 240x)= 360x – 9600

Micromedia has forecasted an enrollment of 30 students for the seminar. How much profit will be earned if their forecast is accurate? (1.5 points)

360 (30) – 9,600 = $1,200

d.Compute the breakeven point. (1.5 points)

total revenue = total cost

9,600 + 240x= 600x

360x= 9,600

X= 26.66…(27)

Question 2 (5 points): Preliminary plans are under way for the construction of a new stadium for a major league baseball team. City officials have questioned the number and profitability of the luxury corporate boxes planned for the upper deck of the stadium. Corporations and selected individuals may buy the boxes for $300,000 each. The fixed construction cost for the upper- deck area is estimated to be $4,500,000, with a variable cost of $150,000 for each box constructed.

What is the breakeven point for the number of luxury boxes in the new stadium? (2.5 points)

Profit on each box = (300,000 – 150,000) = $150,0000

Breakeven point = $4,500,000 = 30 boxes

$150,000

Preliminary drawings for the stadium show that space is available for the construction of up to 50 luxury boxes. Promoters indicate that buyers are available and that all 50 could be sold if constructed. What is your recommendation concerning the construction of luxury boxes? (1.25 points) What profit is anticipated? (1.25 points)

Total revenue – Total expenses= Profit

= 50 boxes – 30 boxes (break- even point) = 20 boxes

= 20 X $150,000 = $3,000,000 in sales

The marginal profit is positive, so the construction should be continued.

Chapter 2: An Introduction to Linear Programming

Question 3 (6 points):: Reiser Sports Products wants to determine the number of All-Pro (A) and College (C) footballs to produce in order to maximize profit over the next four-week planning ho- rizon. Constraints affecting the production quantities are the production capacities in three departments: cutting and dyeing; sewing; and inspection and packaging. For the four-week planning period, 340 hours of cutting and dyeing time, 420 hours of sewing time, and 200 hours of inspection and packaging time are available. All-Pro football’s provide a profit of $5 per unit, and College footballs provide a profit of $4 per unit. The linear programming model with production times expressed in minutes is as follows:

A portion of the graphical solution to the Reiser problem is shown in Figure.

a.Shade the feasible region for this problem. (1 point)

b.Determine the coordinates of each extreme point and the corresponding profit. Which extreme point generates the highest profit? (1 point)

c.Draw the profit line corresponding to a profit of $4000. Move the profit line as far from the origin as you can in order to determine which extreme point will provide the optimal solution. Compare your answer with the approach you used in part (b). (2 points)

d.Which constraints are binding? Explain (2 points)

Question 4 (9 points): Solve the following linear programming problem using the graphical solution procedure:

Max 5A + 5B

s.t.

1A ≤ 100

1B ≤ 80

2A + 4B ≤ 400

A, B ≥0

Question 5 (12.5 points): Kelson Sporting Equipment, Inc., makes two different types of baseball gloves: a regular model and a catcher’s model. The firm has 900 hours of production time available in its cut- ting and sewing department, 300 hours available in its finishing department, and 100 hours available in its packaging and shipping department. The production time requirements and the profit contribution per glove are given in the following table:

Assuming that the company is interested in maximizing the total profit contribution, answer the following: a.What is the linear programming model for this problem? (2.5 points)

b.Find the optimal solution using the graphical solution procedure. How many gloves of

each model should Kelson manufacture? (5 points)

c. What is the total profit contribution Kelson can earn with the given production quantities? (2.5 points)

d.How many hours of production time will be scheduled in each department? (1.25 points)

e.What is the slack time in each department? 1.25 points)

Chapter 3 – Linear Programming: Sensitivity Analysis and Interpretation of Solution

Question 6 (12.5 points). Consider the following linear program:

Min8X + 12Y

s.t.1X + 3Y ≥ 9

2X + 2Y ≥10

6X + 2Y ≥18

X, Y ≥ 0

a.Use the MS Excel Solver to find the optimal solution with sensitivity analysis and provide the reports by copying or taking screenshot from excel. After providing report calculate the optimal solution. (5 points)

P.S: If you will miss to provide the MS Excel Solver, you will be graded for zero for this question.

b.Based on the computer solution (sensitivity analysis report) for the linear program in part (a):

Assume that the objective function coefficient for X changes from 8 to 6. Does the optimal solution change? (1.5 points)

c.Based on the computer solution (sensitivity analysis report) for the linear program in part (a):

Assume that the objective function coefficient for X remains 8, but the objective function coefficient for Y changes from 12 to 6. Does the optimal solution change? (1.5 points)

d. Based on the computer solution (sensitivity analysis report) for the linear program in part (a):

Determine the dual value for constraint 1. (1.5 points)

e. Based on the computer solution (sensitivity analysis report) for the linear program in part (a):

Suppose that the right-hand side for constraint 1 is increased from 9 to 10. Find the new optimal solution. What does the right-hand-side range information for constraint 1 tell you about the dual value for constraint 1? (1.5 points)

f. The dual value for constraint 2 is 3. Using this dual value and the right-hand-side range information in part (a), what conclusion can be drawn about the effect of changes to the right-hand side of constraint 2? (1.5 points)

Chapter 4 – Linear Programming Applications in Marketing, Finance and Operations Management

In this part you need to answer only Question 7 or Question 8. (12.5 points)

Question 7. The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year’s program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown.

To ensure a balanced use of advertising media, radio advertisements must not exceed 50% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized.

What is the linear programming model for this problem? (4 points)

If the promotional budget is limited to $18,200, how many commercial messages should be run on each medium to maximize total audience contact? What is the allocation of the budget among the three media, and what is the total audience reached? For solution, use Excel Solver and provide the screenshots of results from Excel. Use the MS Excel Solver to find the optimal solution with sensitivity analysis and provide the reports by copying or taking screenshot from excel. After providing report calculate the optimal solution. (6 points)

P.S: If you will miss to provide the MS Excel Solver, you will be graded for zero for this question.

By how much would audience contact increase if an extra $100 were allocated to the

promotional budget? (2.5 points)

LetT = number of television spot advertisements

R = number of radio advertisements

O = number of online advertisements

Question 8. The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability:

Develop a linear programming model of the Hartman Company problem. What is the linear programming model for this problem? (4 points)

Solve the model to determine the optimal production quantities of products 1 and 2. For solution, use Excel Solver and provide the screenshots of results from Excel. Use the MS Excel Solver to find the optimal solution with sensitivity analysis and provide the reports by copying or taking screenshot from excel. After providing report calculate the optimal solution. (6 points)

P.S: If you will miss to provide the MS Excel Solver, you will be graded for zero for this question.

c. In computing the profit contribution per unit, management doesn’t deduct labor costs because they are considered fixed for the upcoming planning period. However, suppose that overtime can be scheduled in some of the departments. Which departments would you recommend scheduling for overtime? How much would you be willing to pay per hour of overtime in each department? (2.5 points)

Letx1 = units of product 1 produced

x2 = units of product 2 produced

Chapter 7: Integer Linear Programming

Question 9 (12.5 points):Consider the following all-integer linear program:

Max 1×1 + 1×2

s.t.4×1 + 6×2 ≤22

1×1 +5×2 ≤15

2×1 + 1×2 ≤ 9

x1, x2 ≥ 0 and integer

a.Graph the constraints for this problem. Use dots to indicate all feasible integer solutions. (4 points)

b.Solve the LP Relaxation of this problem. (4 points)

c.Find the optimal integer solution. (4.5 points)