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3. A company produces two products on two machines. A unit of product 1 requires 2 hours on machine 1 and 1 hour on machine 2. For product 2, a unit requires 1 hour on machine 1 and 3 hours on machine 2. The revenues per unit of products 1 and 2 are $5 and $6, respectively. The total daily processing time available for each machine is 8 hours. Letting x and y represent the daily number of units of products 1 and 2 respectively, (i)Construct the LP model to maximize profit. (ii) Obtain the optimum solution graphically by determining the number of units of each product to be produced in order to maximize the profit and at what value. (iii) If management decides to increase the daily capacity of machine 1 from

3. A company produces two products on two machines. A unit of product 1 requires 2 hours on machine 1 and 1 hour on machine 2. For product 2, a unit requires 1 hour on machine 1 and 3 hours on machine 2. The revenues per unit of products 1 and 2 are $5 and $6, respectively. The total daily processing time available for each machine is 8 hours. Letting x and y represent the daily number of units of products 1 and 2 respectively, (i)Construct the LP model to maximize profit. (ii) Obtain the optimum solution graphically by determining the number of units of each product to be produced in order to maximize the profit and at what value. (iii) If management decides to increase the daily capacity of machine 1 from

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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3. A company produces two products on two machines. A unit of product 1 requires 2 hours on machine 1 and 1 hour on machine 2. For product 2, a unit requires 1 hour on machine 1 and 3 hours on machine 2. The revenues per unit of products 1 and 2 are $5 and $6, respectively. The total daily processing time available for each machine is 8 hours. Letting x and y represent the daily number of units of products 1 and 2 respectively, (i)Construct the LP model to maximize profit. (ii) Obtain the optimum solution graphically by determining the number of units of each product to be produced in order to maximize the profit and at what value. (iii) If management decides to increase the daily capacity of machine 1 from 8 hours to 9 hours, locate the new optimum point. Compute the dual price and the feasibility range for machine 1. ..
Transcribed Image Text:3. A company produces two products on two machines. A unit of product 1 requires 2 hours on machine 1 and 1 hour on machine 2. For product 2, a unit requires 1 hour on machine 1 and 3 hours on machine 2. The revenues per unit of products 1 and 2 are $5 and $6, respectively. The total daily processing time available for each machine is 8 hours. Letting x and y represent the daily number of units of products 1 and 2 respectively, (i)Construct the LP model to maximize profit. (ii) Obtain the optimum solution graphically by determining the number of units of each product to be produced in order to maximize the profit and at what value. (iii) If management decides to increase the daily capacity of machine 1 from 8 hours to 9 hours, locate the new optimum point. Compute the dual price and the feasibility range for machine 1. ..
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