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:

Fiscal Policy

Government policies relating to taxation and spending to influence the economy.

Aggregate Demand

The total demand for all goods and services within a particular market or economy at a given overall price level and in a given time period.

Real GDP

Gross Domestic Product adjusted for inflation, which provides a more accurate representation of an economy's size and how it's growing over time.

Disposable Income

Money left after taxes and compulsory fees have been subtracted, which can be used for spending or saving according to personal preference.