Use a Modern Software Tool to Perform Statistical Calculations Demands for the Coming Week Are 950 10-Inch Rolls, 725

question 3

Multiple Choice

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) using the standard Solver.
A company makes standard 130-inch-wide rolls of thin sheet metal and slits them into smaller rolls to meet customer orders for widths of 10, 14, and 25 inches. Suppose that the company has proposed the following cutting patterns: $\begin{array}{|c|c|c|c|c|c|}\hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } \\\hline 1 & \text { Cutting-Stock Problem } & & & & \\\hline 2 & & & & & \\\hline 3 & \text { Data } & & & & \\\hline 4 & \text { Pattern } & \text { 10-in rolls } & \text { 14 in. rolls } & \text { 25-in. rolls } & \text { Scrap } \\\hline 5 & 1 & 0 & 8 & 0 & 10 \\\hline 6 & 2 & 0 & 2 & 3 & 10 \\\hline 7 & 3 & 3 & 0 & 3 & 4 \\\hline 8 & 4 & 10 & 0 & 0 & 10 \\\hline 9 & 5 & 3 & 2 & 2 & 4 \\\hline 10 & 6 & 8 & 2 & 0 & 4 \\\hline\end{array}$ Demands for the coming week are 950 10-inch rolls, 725 14-inch roles, and 640 25-inch rolls. Develop a model using the Analytic Solver Platform that will determine how many 130-inch rolls to cut into each of the six patterns in order to meet demand and minimize scrap.
-What is the total scrap produced?

• A) 1,389
• B) 1,390
• C) 1,427
• D) 1,445

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Definitions:

Prices

The amount of money required to purchase a good or service, determined by factors like supply and demand, production costs, and competition.

Aggregate Demand

The total demand for all goods and services within an economy at various price levels, in a given time period.

Consumer Demand

The desire of individuals or households to purchase goods and services at certain prices.

Investment Goods

Goods that are purchased not for immediate consumption but for producing other goods or services in the future.