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Problems Chapter 1

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3 views2 pages

Problems Chapter 1

Uploaded by

Zohaib Javed
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Download as pdf or txt
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Problem 1.

12
Sure! Here’s an even simpler version:

a. Define the Problem

Choose the best way to produce a new drill bit within budget and on time.

b. List Key Assumptions

1. The old machine can be modified.


2. Costs for modifications are fixed.
3. New machine has better capacity and safety.
4. Disposal costs exist for the old cooling system.
5. Budget is $100,000.

c. List Alternatives

1. Modify the old machine in-house ($40,000).


2. Hire McDonald Inc. to modify it ($60,000).
3. Buy a new machine from McDonald Inc. ($450,000).

d. Select a Criterion

Evaluate based on total cost and production capacity.

e. Introduce Risk

Consider the risk of the in-house modification failing.

f. Nonmonetary Considerations

Think about environmental impact and reliability of machines.

g. Post-Audit

After implementation, compare actual costs and performance to expectations and learn for future
decisions
Problem 1.13
a. Develop Formulations for Mary’s Problem

1. Career vs. Education Dilemma: Should Mary accept the job offer now or focus on
completing her degree first?
2. Short-Term Stability vs. Long-Term Goals: Is it better for Mary to gain immediate
financial security by working or to invest time in her education for future career
advancement?

b. Identify Feasible Solutions

1. For Career vs. Education Dilemma:


o Solution 1: Accept the job offer, but commit to a timeline (e.g., save money for
one year, then return to finish college).
o Solution 2: Decline the job offer and focus solely on completing her degree,
seeking part-time work or internships for income.
2. For Short-Term Stability vs. Long-Term Goals:
o Solution 1: Take a leave of absence from college to work, with a plan to return
after saving a specific amount.
o Solution 2: Explore online or flexible classes that allow her to work part-time
while finishing her degree

Problem 1.15
Activity 1: Define the Need

Need: Homeowners want to keep their homes safe from bad weather and save on energy bills.

Activity 2: Problem Statement

Problem: Homeowners aren’t sure if storm doors will solve their issues with drafts and high
energy costs.

Activity 3: Generate Alternatives

1. Install Storm Doors: Better protection and insulation.


2. Use Weather stripping: Cheap fix for drafts.
3. Install Screens: Keep bugs out while letting air in.
4. Do Maintenance: Fix current doors and windows.
5. Ask an Expert: Get professional advice on solutions.

This helps homeowners think through their options clearly.

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