05 Jun Theowner of a hardware store wants to design
Question
Question:
Theowner of a hardware store wants to design a decision support system to predicthow many and which type of nails she should sell and what information she needsto do so. The scenario is described below:
Considerthat you offer six types of nails and can make as many as you need of each.These are:
4-inch nails
3.5-inch nails
3-inch nails
2.5-inch nails
2-inch nails
1.5-inch nails
Thecost of making each type of nail depends on the size of the nail. The costs andselling prices are listed in the table below, along with the weights. The nailswill be sold in boxes of up to 30. There must be no more than 10, but no lessthan five, of each of three types of nails in each box. The nails in each boxshould weigh no more than 20 ounces. You’re looking for the combination withthe highest profit using a trial-and-error method. A spreadsheet would behelpful for completing this project. You’ll most likely find that you identifysome promising paths to follow right away and will concentrate on those toreach the best one.
| NAIL | WEIGHT (in ounces) | COST (in cents) | SELLING PRICE (cents) |
| 4-inch | 1.00 | 4.0 | 8 |
| 3.5-inch | 0.85 | 3.5 | 6 |
| 3-inch | 0.70 | 3.0 | 5 |
| 2.5-inch | 0.50 | 2.5 | 4 |
| 2-inch | 0.25 | 2.0 | 3 |
| 1.5-inch | 0.10 | 1.5 | 2 |
Justify at least three different considerations you looked at whileattempting to come up with the most profitable solution. What would go intosuch a system if you were the owner of the store and your business profits wereat stake? Your submission must be a minimum of two pages, double-spaced
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