A mining company owns two mines, each of which produces three grades (high, medium, and low) of ore.The company has a contract to supply a smelting company with at least 12 tons of high-grade ore, at least 8tons of medium-grade ore, and at least 24 tons of low-grade ore. Each hour of operation, mine 1 produces 6tons of high-grade ore, 2 tons of medium-grade ore, and 4 tons of low-grade ore. Each hour of operation,mine 2 produces 2 tons of high-grade ore, 2 tons of medium-grade ore, and 12 tons of low-grade ore. It costs$200 per hour to operate mine 1 and $160 per hour to operate mine 2. How many hours should each mine beoperated so as to meet the contractual obligations at the lowest total operating cost?UMicrosoft Excel 16.0 Sensitivity Report2 Worksheet: [2.xlsx]solution3 Report Created: 10/26/2019 7:20:34 PM456 Variable Cells789101112 Constraints13CellName$B$3 X1 Hours to operate Mine 1$C$3 X2 Hourse to operate Mine 2CellName$E$6 High-grade constraint LHS$E$7 Medium-grade constarint LHS14151617 $E$8 Low-grade constarint LHSFinal Reduced Objective Allowable AllowableValue Cost Coefficient IncreaseDecrease1312None of the above800Final Shadow Constraint AllowableValue PriceR.H. Side Increase401070200160012828040 93.3333333324408416AllowableDecrease421E+30Use this sensitivity report to answer the questions below.If the (minimum) requirements increased by 2 tons for each of high-grade, medium-grade, and low-gradeore: What minimum Cost could be realized? Would the optimal solution change?The sum of percentages ≥100%, the shadow prices are not operative. Not enough informationprovided. Thus, we should create a new model and rerun solver to answer this question.The sum of percentages ≤ 100%, the shadow prices are operative. The minimum cost would be $840.The optimal solution will not change.The sum of percentages ≤ 100%, the shadow prices are operative. The minimum cost would be $840.The optimal solution would change.

A mining company owns two mines, each of which produces three grades (high, medium, and low) of ore. The company has a contract to supply a smelting company with at least 12 tons of high-grade ore, at least 8 tons of medium-grade ore, and at least 24 tons of low-grade ore. Each hour of operation, mine 1 produces 6 tons of high-grade ore, 2 tons of medium-grade ore, and 4 tons of low-grade ore. Each hour of operation, mine 2 produces 2 tons of high-grade ore, 2 tons of medium-grade ore, and 12 tons of low-grade ore. It costs $200 per hour to operate mine 1 and $160 per hour to operate mine 2. How many hours should each mine be operated so as to meet the contractual obligations at the lowest total operating cost? D 1 Microsoft Excel 16.0 Sensitivity Report 2 Worksheet: [2.xlsx]solution 3 Report Created: 10/26/2019 7:20:34 PM 4 4567 6 Variable Cells 7 8 9 10 Cell Name $B$3 X1 Hours to operate Mine 1 $C$3 X2 Hourse to operate Mine 2 11 12 Constraints 13 14 Cell Name 15 $E$6 High-grade constraint LHS 16 17 $E$8 Low-grade constarint LHS $E$7 Medium-grade constarint LHS Final Reduced Objective Allowable Allowable Value Cost Coefficient Increase Decrease 280 40 93.33333333 1 3 0 0 None of the above 200 160 Final Shadow Constraint Allowable Value Price R.H. Side Increase 12 8 40 10 70 0 12 8 24 8 4 16 40 Allowable Decrease 2 1E+30 Use this sensitivity report to answer the questions below. If the (minimum) requirements increased by 2 tons for each of high-grade, medium-grade, and low-grade ore: What minimum Cost could be realized? Would the optimal solution change? The sum of percentages ≥100%, the shadow prices are not operative. Not enough information provided. Thus, we should create a new model and rerun solver to answer this question. The sum of percentages ≤ 100%, the shadow prices are operative. The minimum cost would be $840. The optimal solution will not change. The sum of percentages ≤ 100%, the shadow prices are operative. The minimum cost would be $840. The optimal solution would change.