Land for each house costs $55,000 and lumber, supplies, and other materials run another $28,000 per house.The selling price of the house is $115,000.(15 points) Ponderosa Development Corporation (PDC) is a small real estate developer that builds only one style house. ![]() Is the model developed in part (a) a deterministic or a stochastic model? Explain. What are the optimal solution values of x and y?Į. Draw the flowchart of the input–output process for this model (see Figure 1.5).ĭ. Identify the controllable and uncontrollable inputs for this model.Ĭ. Show the mathematical model when both products are considered simultaneously.ī. ![]() Use y as the number of units of product 2 produced.Ī. Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of production time for each unit produced. Recall the production model from Section 1.3: For part (d), you may consider using the Linear Programming module of POM-QM.
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