F5: Graphing the optimal solution

mark057

Hi there,

Sorry to add yet another question about this infernal exam.

I've been graphing models to find the optimal solution but two aspects keep confusing me.

1) How do you know which set of data to put on the horizontal and vertical axis? For example I had one question
which related to the production of pool cues and snooker cues.

I classified the pool cues as value x and placed the data for them on the horizontal axis and the snooker cues as the y value and placed them on the vertical axis.

The solution did the exact opposite and I got my profit maximising calculation wrong as a result.

2) Is there anyone who can explain in simple terms how to use the iso-contribution line to find the point where profit is maximised on the graph. The book does not explain it very well.

Thanks

Mark

SandyHood

You can put your products either way around
Y variables should be dependent
X variables should be independent
In LP questions both are independent so either way around is fine
It should give you the same answer which ever way they are

I don't think I can do thje other question in this media
I tend to use a board and a ruler and talk through

1. Invent a number for the 40Q +70P to add up to e.g 2100
2. Identify the co-ordinates for the ends of the line
3. Put the line onto the graph
4. Hold your ruler along the line and move the ruler parallel to the line going out (away from the origin) until you leave the feasible region
5. or move the ruler parallel to the line going in (towards the origin) until you enter the feasible region

mark057

Thank you v much for that Sandy.

I think I can see what you mean about using the Iso-contribution line to determine the optimal point.

Really feeling down about this F5 exam. I sailed through F4 but not enjoying this one at all.

I think I'll be re-sitting it in June next year.

Mark

SandyHood

Mark
You seem determined to teach yourself
Are you sure that that is the best way for you?

I travel up and down the country for tutorials

Yours

Sandy

mark057

Hi Sandy,

Its not really a determination to teach myself at all.

I admit I'm largely self taught through AAT and so far in ACCA but I'm not too proud to admit I need help or
anything.

To be honest I just can't afford the courses so its either this way or nothing at the moment.

I'd love to be able to enroll on a BPP course and have all the help available. In fact I think I'd do really well in my
exams if I had that support but the sort of money you need in modern education, at this level, is out of my league.

I'm sure its the same for many students but what can I do?

Mark

SandyHood

I am not a BPP tutor.

mark057

Hi Sandy,

Where do you run your courses and when? I'm from Chester, North West.

Mark

SandyHood

I go wherever there is sufficient numbers to make a course viable.
Over the last 3 weekends I have been in Warwick, Leeds and London.

I don't do all the exam topics, but I do take F5 and F9 for ACCA.
In the preceding weeks I ran CIMA classes
- but even when I have a Saturday 9.30 to 3.30/4.00 somewhere running a CIMA or AAT class, I can often fit in a couple of hours (e.g. 5.30 to 7.30 for ACCA for two or three people)

Before the June ACCA and the May CIMA exams I sometimes have courses at Jury's Inn Manchester. Things have been quiet lately and I haven't been for a couple of years.

How far would you be prepared to travel?

mark057

Manchester or Liverpool would be ok or that sort of radius.

Sat my F5 paper today but think I've made a complete hash of it so will be re-sitting in June next year.
Just never really got to grips with it really.

Mark