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1. You may produce seven products by consuming three materials. The unit sales price and material consumption of each product are listed in Table 1. For each day, the supply of these three materials are limited. The supply limits are listed in Table 2. For each day, you need to determine the production quantity for each product. Product Price Material 1 Material 2 Material 3 1 100 3 10 2 120 5 10 10 3 135 5 3 4. 90 4 6 3 5 125 8 8 6 110 2 10 7 105 3 2 7

1. You may produce seven products by consuming three materials. The unit sales price and material consumption of each product are listed in Table 1. For each day, the supply of these three materials are limited. The supply limits are listed in Table 2. For each day, you need to determine the production quantity for each product. Product Price Material 1 Material 2 Material 3 1 100 3 10 2 120 5 10 10 3 135 5 3 4. 90 4 6 3 5 125 8 8 6 110 2 10 7 105 3 2 7

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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1. You may produce seven products by consuming three materials. The unit sales price and material consumption of each product are listed in Table 1. For each day, the supply of these three materials are limited. The supply limits are listed in Table 2. For each day, you need to determine the production quantity for each product. Product Price Material 1 Material 2 Material 3 1 100 3 10 2 120 5 10 10 3 135 3 9 90 4 6 125 8 2 8 110 2 10 7 105 3 2 7 Table 1: Product information for Problem 1
Transcribed Image Text:1. You may produce seven products by consuming three materials. The unit sales price and material consumption of each product are listed in Table 1. For each day, the supply of these three materials are limited. The supply limits are listed in Table 2. For each day, you need to determine the production quantity for each product. Product Price Material 1 Material 2 Material 3 1 100 3 10 2 120 5 10 10 3 135 3 9 90 4 6 125 8 2 8 110 2 10 7 105 3 2 7 Table 1: Product information for Problem 1
Material Supply limit 1 100 2 150 200 Table 2: Material information for Problem 1 Formulate a linear integer program that generates a feasible production plan to maximize the total profit (which is also the total revenue, as there is no cost in this problem). Then write a computer program (e.g., using MS Excel solver) to solve this instance and obtain an optimal plan. Do not set the production quantities to be integer; leave them fractional. After you find an optimal solution and its objective value, write down the integer part of the objective value as your solution (i.e., rounding down that value to the closest integer).
Transcribed Image Text:Material Supply limit 1 100 2 150 200 Table 2: Material information for Problem 1 Formulate a linear integer program that generates a feasible production plan to maximize the total profit (which is also the total revenue, as there is no cost in this problem). Then write a computer program (e.g., using MS Excel solver) to solve this instance and obtain an optimal plan. Do not set the production quantities to be integer; leave them fractional. After you find an optimal solution and its objective value, write down the integer part of the objective value as your solution (i.e., rounding down that value to the closest integer).
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