A manufacturing firm produces two products. Each product must undergo an assembly process and a finishing process. It is then transferred to the warehouse, which has space for only a limited number of items. The firm has 80 hours available for assembly and 112 hours for finishing, and it can store a maximum of 10 units in the warehouse. Each unit of product 1 has a profit of $30 and requires 4 hours to assemble and 14 hours to finish. Each unit of product 2 has a profit of $70 and requires 10 hours to assemble and 8 hours to finish. The firm wants to determine the quantity of each product to produce in order to maximize profit. a. Formulate a linear programming model for this problem. b. Solve this model by using graphical analysis.
A manufacturing firm produces two products. Each product must undergo an assembly process and a finishing process. It is then transferred to the warehouse, which has space for only a limited number of items. The firm has 80 hours available for assembly and 112 hours for finishing, and it can store a maximum of 10 units in the warehouse. Each unit of product 1 has a profit of $30 and requires 4 hours to assemble and 14 hours to finish. Each unit of product 2 has a profit of $70 and requires 10 hours to assemble and 8 hours to finish. The firm wants to determine the quantity of each product to produce in order to maximize profit. a. Formulate a linear programming model for this problem. b. Solve this model by using graphical analysis.
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 manufacturing firm produces two products. Each product must undergo an assembly process and a finishing process. It is then transferred to the
warehouse, which has space for only a limited number of items. The firm has 80 hours available for assembly and 112 hours for finishing, and it
can store a maximum of 10 units in the warehouse. Each unit of product 1 has a profit of $30 and requires 4 hours to assemble and 14 hours to
finish. Each unit of product 2 has a profit of $70 and requires 10 hours to assemble and 8 hours to finish. The firm wants to determine the quantity
of each product to produce in order to maximize profit.
a. Formulate a linear programming model for this problem.
b. Solve this model by using graphical analysis.
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