A firm offers three different prices on its products, depending upon the quantity purchased. Since available resources are limited, the firm would like to prepare an optimal production plan to maximize profits. Product 1 has the following profitability: $13 each for the firs- 65 units, $12 each for units 66-130, and $11 for each unit over 130. Product 2's profitability is $17 each for the first 40 units, $16 each f units 41-80, and $15 each for each unit over 80. The products each require 3 raw materials to produce (see table below for usages and available quantities). Product 1 usage (pounds per unit) 5 Available Quantity (pounds) 2,300 1,700 1,100 Product 2 usage (pounds per unit) Raw Material 7 7 15 15 Use separable programming to find the optimal production plan. (Leave no cells blank - be certain to enter "0" wherever required. Round the first two answers (units of Product 1 and 2) to the nearest whole number. Round the total profit answer to 2 decimal places and use unrounded unit quantities to compute it.)

A firm offers three different prices on its products, depending upon the quantity purchased. Since available resources are limited, the firm would like to prepare an optimal production plan to maximize profits. Product 1 has the following profitability: $13 each for the firs- 65 units, $12 each for units 66-130, and $11 for each unit over 130. Product 2's profitability is $17 each for the first 40 units, $16 each f units 41-80, and $15 each for each unit over 80. The products each require 3 raw materials to produce (see table below for usages and available quantities). Product 1 usage (pounds per unit) 5 Available Quantity (pounds) 2,300 1,700 1,100 Product 2 usage (pounds per unit) Raw Material 7 7 15 15 Use separable programming to find the optimal production plan. (Leave no cells blank - be certain to enter "0" wherever required. Round the first two answers (units of Product 1 and 2) to the nearest whole number. Round the total profit answer to 2 decimal places and use unrounded unit quantities to compute it.)

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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