Assignment 1:
Directions:
1) Read the entire selection below
2) Answer the questions—see additional notes below….
Selection:
Bradley’s Food Stand
John Bradley is a senior at Tech, and he’s investigating different ways to finance his final year at school. He is considering leasing a temporary food facility outside the Tech stadium at home football games. Tech sells out every home game, and he knows, from attending the games himself, that everyone eats a lot of food. He has to pay $800 per game for the stand, and the food stands 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. He thinks slices of cheese pizza, hot dogs, and barbecue sandwiches are the most popular food items among fans and so these are the items he 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 John to prepare the food while he is selling it. He must prepare the food ahead of time and then store it in a warming oven. For $500 he 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. He plans to fill the oven with the three food items before the game and then again before half time.
John 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 him $4.40 and will include 8 slices. He estimates it will cost him $0.50 for each hot dog and $0.85 for each barbecue sandwich if he makes the barbecue himself the night before. He measured a hot dog and found it takes up about 16 square inches of space, whereas a barbecue sandwich takes up about 25 square inches. He plans to sell a slice of pizza for $1.40, a hot dog for $1.45, and a barbecue sandwich for $2.00. He has $1,120 in cash available to purchase and prepare the food items for the first home game; for the remaining five games he will purchase his ingredients with money he has made from the previous game.
John has talked to some students and vendors who have sold food at previous football games at Tech as well as at other universities. From this he has discovered that he can expect to sell at least as many slices of pizza as twice hot dogs and barbecue sandwiches combined. He also anticipates that he will probably sell at least twice as many hot dogs as barbecue sandwiches. He believes that he will sell everything he can stock and develop a customer base for the season if he follows these general guidelines for demand.
If John clears at least $1,200 in profit for each game after paying all his expenses, he believes it will be worth leasing the booth.
(1). Formulate and solve a linear programming model for John that will help you advise him if he should lease the food stand.
(2). If John was to borrow some more money from a friend before t ...
Assignment 1Directions1) Read the entire selection below2).docx
1. Assignment 1:
Directions:
1) Read the entire selection below
2) Answer the questions—see additional notes below….
Selection:
Bradley’s Food Stand
John Bradley is a senior at Tech, and he’s investigating
different ways to finance his final year at school. He is
considering leasing a temporary food facility outside the Tech
stadium at home football games. Tech sells out every home
game, and he knows, from attending the games himself, that
everyone eats a lot of food. He has to pay $800 per game for the
stand, and the food stands 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. He thinks slices of cheese pizza, hot dogs, and
barbecue sandwiches are the most popular food items among
fans and so these are the items he 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 John to
prepare the food while he is selling it. He must prepare the food
ahead of time and then store it in a warming oven. For $500 he
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. He plans
to fill the oven with the three food items before the game and
then again before half time.
John 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 him $4.40 and will include 8 slices. He estimates it will
cost him $0.50 for each hot dog and $0.85 for each barbecue
sandwich if he makes the barbecue himself the night before. He
measured a hot dog and found it takes up about 16 square inches
of space, whereas a barbecue sandwich takes up about 25 square
2. inches. He plans to sell a slice of pizza for $1.40, a hot dog for
$1.45, and a barbecue sandwich for $2.00. He has $1,120 in
cash available to purchase and prepare the food items for the
first home game; for the remaining five games he will purchase
his ingredients with money he has made from the previous
game.
John has talked to some students and vendors who have sold
food at previous football games at Tech as well as at other
universities. From this he has discovered that he can expect to
sell at least as many slices of pizza as twice hot dogs and
barbecue sandwiches combined. He also anticipates that he will
probably sell at least twice as many hot dogs as barbecue
sandwiches. He believes that he will sell everything he can
stock and develop a customer base for the season if he follows
these general guidelines for demand.
If John clears at least $1,200 in profit for each game after
paying all his expenses, he believes it will be worth leasing the
booth.
(1). Formulate and solve a linear programming model for John
that will help you advise him if he should lease the food stand.
(2). If John was to borrow some more money from a friend
before the first game to purchase more ingredients, could he
increase his profit? If so, how much should he borrow and how
much additional profit would he make? What factor constrains
him from borrowing even more money than this amount
(indicated in your answer to the previous question)?
_____________________________________________________
________________________________
ADDITIONAL INSTRUCTIONS:
Your instructor will assign a linear programming project for this
assignment according to the following specifications.
It will be a problem with at least three (3) constraints and at
least two (2) decision variables. The problem will be bounded
and feasible. It will also have a single optimum solution (in
other words, it won’t have alternate optimal solutions). The
3. problem will also include a component that involves sensitivity
analysis and the use of the shadow price.
You will be turning in two (2) deliverables, a short writeup of
the project and the spreadsheet showing your work.
Writeup.
Your writeup should introduce your solution to the project by
describing the problem. Correctly identify what type of problem
this is. For example, you should note if the problem is a
maximization or minimization problem, as well as identify the
resources that constrain the solution. Identify each variable and
explain the criteria involved in setting up the model. This
should be encapsulated in one (1) or two (2) succinct
paragraphs.
After the introductory paragraph, write out the L.P. model for
the problem. Include the objective function and all constraints,
including any non-negativity constraints. Then, you should
present the optimal solution, based on your work in Excel.
Explain what the results mean.
Finally, write a paragraph addressing the part of the problem
pertaining to sensitivity analysis and shadow price.
Excel.
As previously noted, please set up your problem in Excel and
find the solution using Solver. Clearly label the cells in your
spreadsheet. You will turn in the entire spreadsheet, showing
the setup of the model, and the results.
Global Warming: Reducing Carbon Emissions
(5 points; 5 pages; Due: June 2
nd
)
4. Global warming – the increase in the Earth’s temperature as a
result of growing greenhouse
gas (GHG) emissions into atmosphere – is an anthropogenic
phenomenon that crosses national
borders and impacts all countries around the world. Solving this
global problem requires collective
and collaborative attempts of all nations. One of the first
agreements between nations to reduce
GHG emissions was Kyoto Protocol (read:
http://unfccc.int/kyoto_protocol/items/2830.php)
developed by the United Nations in 1997 and amended in 2012
(read this short review of Kyoto
Protocol:
http://www.theguardian.com/environment/2011/mar/11/kyoto-
protocol). Almost all
nations ratified the agreement except the United States. While
Canada ratified the Kyoto Protocol in
2002, it decided to withdraw from it in 2011 (review the
timeline of Kyoto Protocol related topics:
http://www.theguardian.com/environment/kyoto-protocol).
There has been a great debate about the
success of Kyoto Protocol as the two major GHG emitters were
not mandated to reduce their GHG
emissions. On one hand, the US did not ratified the treaty and
5. on the other hand, China and other
developing countries were exempt from mandated GHG
emission reduction under the Kyoto
Protocol. However, in 2014 with the growth of public pressure
and concerns, the US and China
signed a climate deal (read:
http://www.nytimes.com/2014/11/12/world/asia/china-us-xi-
obama-
apec.html?_r=2). Although there are encouraging signs
emerging from the US-China Climate Deal
(see the estimated impact of the US-China Climate Deal:
https://www.climateinteractive.org/analysis/breaking-analysis-
us-china-climate-deal-by-the-
numbers/), the critical question yet to be answered is: How
should global community solve global
problems in a globally connected world?
1. Describe political, economic, and cultural elements which
influence relations of countries
toward solving a global problem (Global Warming).
2. Analyze how the interconnectedness of the global economy
has positive and negative impacts in
the success of a solution (Kyoto Protocol) to a global problem
(Global Warming).
6. 3. Analyze the impact of global economy on political decision
making (joining Kyoto Protocol vs.
signing the US-China Climate Deal).
4. What are the role of a world citizen and the responsibility
world citizens share for their common
global future.
http://unfccc.int/kyoto_protocol/items/2830.php
http://www.theguardian.com/environment/2011/mar/11/kyoto-
protocol
http://www.theguardian.com/environment/kyoto-protocol
http://www.nytimes.com/2014/11/12/world/asia/china-us-xi-
obama-apec.html?_r=2
http://www.nytimes.com/2014/11/12/world/asia/china-us-xi-
obama-apec.html?_r=2
https://www.climateinteractive.org/analysis/breaking-analysis-
us-china-climate-deal-by-the-numbers/
https://www.climateinteractive.org/analysis/breaking-analysis-
us-china-climate-deal-by-the-numbers/
Global Awareness Rubric
Global Awareness Learning Objective -- Students will develop
an awareness and understanding of the issues that
impact business operations in a global and/or multicultural
society.
7. College of Business and Public Administration
Eastern Washington University
Identification and Explanation of
Global Factors
Exceeds
Expectations (4)
Meets
Expectations (3)
Marginally Meets
Expectations (2)
Does Not Meet
Expectations (1)
Describing political, economic, and
cultural elements which influence
relations of states and societies
Student clearly
and completely
8. identifies a wide
range of
political,
economic, and
cultural elements
influencing
relations of the
states and
societies.
Student
identifies a range
of political,
economic, and
cultural elements
influencing
relations of the
states and
societies.
9. Student identifies
only one or two of
the political,
economic, and
cultural elements
influencing
relations of the
states and societies.
Student identifies
none of, or
inaccurately
identifies, the
political,
economic, and
cultural elements
influencing
relations of the
states and
10. societies.
Exploration of International/Multicultural Resources
Using books, references, maps, and/or
other written resources to learn
additional information about global
environment and issues.
Student uses a
wide variety of
resources (books,
references, maps,
articles etc.) to
obtain
information and
analysis.
Student uses a
number of
resources (books,
references, maps,
11. articles etc.) to
obtain
information and
analysis.
Student uses only
one or two of the
resources (books,
references, maps,
articles etc.) to
obtain information
and analysis.
Student uses no
resources (books,
references, maps,
articles etc.) to
obtain
information and
analysis.
12. Analysis of Global Environment
Analyzing the interconnectedness of
the global economy
Student
understands how
economies
impact each
other; he/she can
think critically
about political/
social/
environmental
issues raised by
economic
interdependence.
Student is aware
that economic
conditions of one
13. nation can
impact those of
other nations, but
he/she is not
aware of
political/social/
environmental
issues raised by
economic
interdependence.
Student is aware
that national
economies impact
one another, but
this knowledge is
general and sparse.
Student does not
understand that
14. economies of
nations impact
one another.
Analyzing the impact of global
economy on political decision making
Student
possesses
knowledge of
economic
considerations
that drive
specific national
policies and
decisions. He/she
can critically
evaluate the
gains and losses
15. that result from
these policies.
Student is aware
of some of the
economic
considerations
that drive
political
decisions.
However, this
knowledge is
somewhat
limited or tends
to cast issues in
black and white
terms.
Student is generally
aware that political
16. decisions are
shaped by
economic
considerations;
however, he/she
has little
knowledge of
specific
considerations and
national/
international
policies.
Student is
unaware of the
impact of
economic
considerations on
political decision
17. making. He/she
may be largely
unaware of
political events
and international
economic
conditions.
Application of Global Awareness
Understanding the role of a world
citizen and the responsibility world
citizens share for their common global
future.
Student identifies
a wide variety of
(1) roles we play
and (2) ways to
exercise
responsibilities
18. as global citizens
clearly and
precisely.
Student
identifies a
number of (1)
roles we play
and (2) ways to
exercise
responsibilities
as global citizens
clearly and
precisely.
Student identifies
only one or two of
the (1) roles we
play and (2) ways
to exercise
19. responsibilities as
global citizens.
Student identifies
no roles and no
ways to exercise
responsibilities as
global citizens.
Overall Evaluation
Instructions: After observing the exercise to be evaluated, place
an X in the appropriate space for relevant
criteria. If a criterion does not apply, leave the row blank.
Developed based on the following studies:
Metiri Group in cooperation with NCREL
http://www.chaffey.edu/slo/cm_slo_toolbox/Core%20Competen
cy%20-
%20Global%20Awareness/Sample%20Assessments%20&%20Ru