A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $250 to profit, and a chair contributes $145. Marketing restrictions require that the number of chairs produced be at least four times the number of desks produced. There are 2,000 units of wood available.Use Solver to maximize the company's profit.Confirm graphically that the solution in part 1 maximizes the company's profit.Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1,000 to 3,000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2,000 units? AutoSaveModule 2 Problem Workbook (1) -O Search (Alt+Q)困ffOleksiy Minkin541 OMFileHomeInsertDrawPage LayoutFormulasDataReviewViewDeveloperHelpAcrobatPower PivotSolverTable8 ShareP CommentsΣx, Subscriptx' SuperscriptEInsert vCalibriv 11- A A"GeneralDX Delete vPasteBIU - EA=E E E E E -E - % 9 8 8Conditional Format asCellSort & Find &AnalyzeC00O v Filter v SelectFormat vFormatting - Table Styles vDataClipboardFontAlignmentNumberStylesCellsEditingAnalysisCustomizedA26feA.BEGHKLMPQ1 Manufacturing desks and chairs23 Inputs4DesksChairs5 Unit margins6 Wood usage per unit78 Decisions9DesksChairs10 Units produced1112 Constraint on wood13Wood usedWood available141516 Constraint on chairs17Chairs producedChairs required181920 Objective to maximize21 Profit22Р3-26p3-34Ready+ 100 %19:16О Введите здесь текст для поиска2 9°CA ENG16.12.2021尔

Decision variables- Let x be the no. of the desk to be produced and y be the no. of the chairs to be…

Answered: A furniture company manufactures desks…

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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A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $250 to profit, and a chair contributes $145. Marketing restrictions require that the number of chairs produced be at least four times the number of desks produced. There are 2,000 units of wood available.

Use Solver to maximize the company's profit.
Confirm graphically that the solution in part 1 maximizes the company's profit.
Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1,000 to 3,000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2,000 units?