|Assessment Details and Submission Guidelines|
|Course Name||Master of Professional Accounting|
|Unit Title||Business Analytics and Data Intelligence|
|Unit Learning Outcomes covered in this assessment|
|Submission Guidelines||· All work must be submitted on Moodle by the due date along with a completed|
Assignment Cover Sheet.
·For Melbourne students: use Melbourne Campus Submission link.
·For Sydney students: use Sydney Campus Submissions link.
· Reference sources must be listed appropriately at the end in a reference list using APA referencing style.
The assignment is designed to allow you to demonstrate effective business analytics skills using optimisation methods. You will need to use linear programming skills to conduct the analytics and obtain the solutions. This is individual assignment and each student will work independently.
Problem 1: Maxwell Manufacturing makes two models of felt tip marking pens. Requirements for each lot of pens are given below.
|Fliptop Model||Tiptop Model||Available|
The profit for either model is $1000 per lot.
|a.||What is the linear programming model for this problem (write objective function and constraints? (2 marks)|
|b.||Show the solution graphically. (1 mark)|
Problem 2: For this problem:
Solve the following linear program graphically and, (2 marks)
Show the feasible region and, (1 mark)
Show the optimal point. (1 mark)
|Max||5X + 7Y|
|s.t.||X ≤ 6|
|2X + 3Y ≤ 19|
|X + Y ≤ 8|
|X, Y ≥ 0|
Problem 3: Consider below the linear programming problem:
The value of the optimal solution is 27. Suppose that the right-hand side for consraint1 is increased from 10 to 11.
a. Use the graphical solution procedure to find the new optimal solution. (1 mark)
b. Use the solution to part (a) to determine the shadow price for constraint 1. (1 mark)
c. The sensitivity analysis for the linear program in this problem provides the following right-hand side range information:
|Constraint||Constraint R.H. side||Allowable increase||Allowable decrease|
What does the right-hand side range information for constraint 1 tell you about the shadow price for constraint 1? (1 mark)
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