Help me solve and prepare to write up the Case Study. Explain what type of problem it is and the approach to take writing it up
(A) Formulate and solve an L.P. model for this case.
(B)
Evaluate the prospect of borrowing money before the first game.
(C) Evaluate the prospect of paying a friend $100/game to assist.
(D) Analyze the impact of uncertainties on the model.
Identify the objective function correctly in write-up
Identify constraints correctly in write-up
Show specific L.P. model correctly translated to excel and correct answer is obtained
Correctly answer sensitivity analysis part of the problem
Correctly obtain shadow price part of the problem and input in excel
Walk me through step-by-step of how to put in excel, input data in QM to solve for shadow and correct answer.
Shannon Smith is a senior at Tech, and she’s investigating different ways to finance her final year at school. She is considering leasing a food booth outside the Tech stadium at home football games. Tech sells out every home game, and Shannon knows, from attending the games herself, that everyone eats a lot of food. She has to pay $1,250 per game for a booth, and the booths are not very large. Vendors can sell either food or drinks on Tech property, but not both. Only the Tech athletic department concession stands can sell both inside the stadium. She thinks slices of cheese pizza, hot dogs, and hamburgers are the most popular food items among fans and so these are the items she would sell.
Most food items are sold during the hour before the game starts and during half time; thus it will not be possible for Shannon to prepare the food while she is selling it. She must prepare the food ahead of time and then store it in a warming oven. For $900 she can lease a warming oven for the six-game home season. The oven has 16 shelves, and each shelf is 3 feet by 4 feet. She plans to fill the oven with the three food items before the game and then again before half time.
Shannon has negotiated with a local pizza delivery company to deliver 14-inch cheese pizzas twice each game 2 hours before the game and right after the opening kickoff. Each pizza will cost her $4 and will include 8 slices. She estimates it will cost her $0.35 for each hot dog and $0.75 for each hamburger if she makes the hamburger herself the night before. She measured a hot dog and found it takes up about 16 square inches of space, whereas a hamburger takes up about 25 square inches. She plans to sell a slice of pizza for $1.25, a hot dog for $1.50 apiece and a hamburger for $3.00. She has $1,000 in cash available to purchase and prepare the food items for the first home game; for the remaining five games she will purchase her ingredients with money she has made from the previous game.
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