a. Formulate and solve a linear programming model for Julia that will help you advise her if she should lease the booth.
b. If Julia can borrow some more money from a friend before the first game to purchase more ingredients, could she increase her profit? If so, how much should she borrow and how much additional profit would she make? What factor constrains her from borrowing even more money than this amount (indicated in your answer to the previous question)?
c. When Julia looked at the solution in (a), she realized that it would be physically difficult for her to prepare all the hot dogs and barbecue sandwiches indicated in this solution. She believes she can hire a friend of hers to help her for $100 per game. Based on the results in (a) and (b), is this something you think she could reasonably do and should do?
d. Julia seems to be basing her analysis on ?certain? assumptions that everything will go as she plans. What are some of the uncertain factors in the model that could go wrong and adversely affect Julia?s analysis? Given these uncertainties and the results in (a), (b), and (c), what do you recommend that Julia do?
Julia Robertson is a senior at Tech, and she?s investigating different ways to finance her final year at school. In her first three years at school she worked a part-time job at a local bar, but she wants more free time during the week in her senior year to interview for jobs after she graduates, to work on some senior projects, and to have some fun with her friends. She is considering leasing a food booth outside the stadium at the Tech home football games which Tech allows for selected students and student groups. Tech sells out every home game, and she knows from going to the games herself that everyone eats a lot of food. She has to pay $1000 per game for a booth and the booths are not very large. Vendors can sell only 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 barbecue sandwiches are the most popular food items among fans, so these are the items she would sell.
This question was answered on: Jul 11, 2017
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