DSS and statistical models
Q1)
ABC chocolate manufacturing company needs to decide on how many chocolate bars should they produce each month to maximize the company profit. ABC consider two types of chocolate bar ‘dark’ and ‘salted caramel’. Dark chocolate bar required $20 of raw ingredients and take 2 day to make and salted caramel chocolate bar required $30 of raw ingredients and take 4 working days to make. The profit contribution of each dark chocolate bar is $2 and salted caramel chocolate bar is $5. The Manufacture has capacity of 100,000 working days per month and ingredients budget of $10,000 per month. Using linear programming modelling for ABC company problem, answer the following questions.
a) Identify decision, constraint and result variables, and objective function.
b) Represent the model in excel sheet, run the model and show the result. Provide a screenshot of your solution. [Hint: using excel solver].
Q2) Give the name and a brief discussion of any four major types of models used in DSS?
Q3)
Write the differences between Forward Chaining and Backward Chaining also list some suitable application areas for both?
ABC chocolate manufacturing company needs to decide on how many chocolate bars should they produce each month to maximize the company profit. ABC consider two types of chocolate bar ‘dark’ and ‘salted caramel’. Dark chocolate bar required $20 of raw ingredients and take 2 day to make and salted caramel chocolate bar required $30 of raw ingredients and take 4 working days to make. The profit contribution of each dark chocolate bar is $2 and salted caramel chocolate bar is $5. The Manufacture has capacity of 100,000 working days per month and ingredients budget of $10,000 per month. Using linear programming modelling for ABC company problem, answer the following questions.
a) Identify decision, constraint and result variables, and objective function.
b) Represent the model in excel sheet, run the model and show the result. Provide a screenshot of your solution. [Hint: using excel solver].
Q2) Give the name and a brief discussion of any four major types of models used in DSS?
Q3)
Write the differences between Forward Chaining and Backward Chaining also list some suitable application areas for both?
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