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1. Formulate the linear programming problem. Define each variable properly. 2. Plot the constraints and identify the feasible region. 3. Solve for the optimal solution. How many of each ticket should be sold to maximize profits? How much is the maximum profit?

1. Formulate the linear programming problem. Define each variable properly. 2. Plot the constraints and identify the feasible region. 3. Solve for the optimal solution. How many of each ticket should be sold to maximize profits? How much is the maximum profit?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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An airline company offers standard and business class tickets. Each flight has to sell a minimum of 40 standard tickets and a minimum of 25 business class tickets. Each standard ticket has a profit of $ 250 for each while each business class ticket has a profit of $ 200. The plane has a capacity of at most 150 passengers. 1. Formulate the linear programming problem. Define each variable properly. 2. Plot the constraints and identify the feasible region. 3. Solve for the optimal solution. How many of each ticket should be sold to maximize profits? How much is the maximum profit?
Transcribed Image Text:An airline company offers standard and business class tickets. Each flight has to sell a minimum of 40 standard tickets and a minimum of 25 business class tickets. Each standard ticket has a profit of $ 250 for each while each business class ticket has a profit of $ 200. The plane has a capacity of at most 150 passengers. 1. Formulate the linear programming problem. Define each variable properly. 2. Plot the constraints and identify the feasible region. 3. Solve for the optimal solution. How many of each ticket should be sold to maximize profits? How much is the maximum profit?
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