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4.9-4. Consider the following problem. Z=x₁7x₂ + 3 x3, Maximize subject to 2x₁ + x₂-x3 ≤4 4x₁ - 3x₂ ≤2 - 3x₂ + 2x₂ + x3 ≤3 (resource 1) (resource 2) (resource 3) and x₁ ≥ 0, X₂ ≥ 0, x3 20. DI (a)Work through the simplex method step by step to solve the problem. (b) Identify the shadow prices for the three resources and describe their significance.

4.9-4. Consider the following problem. Z=x₁7x₂ + 3 x3, Maximize subject to 2x₁ + x₂-x3 ≤4 4x₁ - 3x₂ ≤2 - 3x₂ + 2x₂ + x3 ≤3 (resource 1) (resource 2) (resource 3) and x₁ ≥ 0, X₂ ≥ 0, x3 20. DI (a)Work through the simplex method step by step to solve the problem. (b) Identify the shadow prices for the three resources and describe their significance.

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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4.9-4. Consider the following problem. Z=x₁7x₂ + 3 x3, Maximize subject to 2x₁ + x₂-x3 ≤4 4x₁ - 3x₂ ≤2 -3x₂ + 2x₂ + x3 <3 (resource 1) (resource 2) (resource 3) and x₁ ≥ 0, x₂ ≥ 0, x3 20. DI (a)Work through the simplex method step by step to solve the problem. (b) Identify the shadow prices for the three resources and describe their significance.
Transcribed Image Text:4.9-4. Consider the following problem. Z=x₁7x₂ + 3 x3, Maximize subject to 2x₁ + x₂-x3 ≤4 4x₁ - 3x₂ ≤2 -3x₂ + 2x₂ + x3 <3 (resource 1) (resource 2) (resource 3) and x₁ ≥ 0, x₂ ≥ 0, x3 20. DI (a)Work through the simplex method step by step to solve the problem. (b) Identify the shadow prices for the three resources and describe their significance.
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