Questions by uyost - Page 33
Universal Claims Processors insurance claims for large national insurance companies. Most claim processing is done by a large pool of computer operators, some of whom are permanent, and some of whom are temporary. A permanent operator can process 16 claims per day, whereas a temporary operator can process 12 per day, and on average the company processes at least 450 claims each day. The company has 40 computer workstations. A permanent operator generates about 0.5 claims with errors each day, whereas a temporary operator averages about 1.4 defective claims per day. The company wants to limit claims with errors to 25 per day. A permanent operator is paid $64 per day, and a temporary operator is paid $42 per day. The company wants to determine the number of permanent and temporary operators to hire in order to minimize costs.1. Formulate a linear programming model for this problem. List the objective function (minimize or maximize) and all model constraints.2. Solve this model graphically. Identify the following: each constraint line, feasible solution area, x1, x2 and Z for each point, and clearly identify the optimal solution.
For White Rock Skimboarding ivey publishing case studyNEEDS:2 Evaluation of alternativesIt was August 2017, and White Rock Skimboarding (WRS) owner and Ivey Business School graduate Alex Dobbie was wrapping up another successful season of skimboarding and preparing to head to Toronto, Ontario, to begin working in the consulting industry. Dobbie was excited to begin this next stage in his career, but he continued to formulate plans, hoping to guarantee that the company he had founded would have many successful summers in its future.SKIMBOARDINGSimilar to surfing, skimboarding involved using a board, which could be made of a variety of materials, to glide across the waters surface. Skimboards differed slightly in design from surfboards, as they were more rounded in shape and did not have underside fins. Despite the smaller design of the boards, skimboarders could still perform impressive tricks such as spins, flips, and jumps.Skimboarding had begun in the 1920s in Laguna Beach, California, when lifeguards skimmed over the seashore on planks of wood. The sport grew in popularity throughout the 1960s and 1970s, when professional competitions began emerging. Skimboarding gained further media exposure in the 1980s and 1990s, including being on the cover of Sports Illustrated, the development of Skim Magazine, and early websites such as SkimOnline.Skimboarding was divided into two main categories: ocean skimboarding and flatland skimboarding. Flatland skimboarding was developed after ocean skimboarding had been well established. Rather than skimming on the open ocean, flatland skimboarding focused on skimming across pools of shallow water, often created by receding tides, such as those found in White Rock, British Columbia (BC). WRS primarily focused on flatland skimboarding; however, as the tides came in, ocean skimboarding could also occasionally be performed. Skimboardings popularity remained consistent within coastal communities. Competitions and championships were held around the world and were often sponsored by global and local skimboard manufacturers.