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A park service has two tracts of land: Tract1 =300 acres and Tract2 = 100acres They can allocate acres in Tract1 to any of 3 uses: spruce, hunting, Both They can allocate acres in Tract2 to any of 3 uses: spruce, camping, Both Each choice has a cost per acre and a profit per acre according to this table TABLE 55 Tract 1 Spruce 1 Hunting 1 Both 2 Spruce 2 Camping 2 Both Capital 3 3 4 1 30 10 Profit: Labor 0.1 0.2 0.2 0.05 5 1.01 Profit 0.2 0.4 0.5 0.06 0.09 1.1 The Capital figure is in units of $100/acre and the Profit is $1000/acre The Labor is in person-days / acre. Total available Labor is 200 person-days and the total available Capital is $150000 Set up and solve (using software) the most profitable allocation of acres. Number of acres in Tract1 allocated to hunting Hint: normally the most difficult thing is deciding on your decision variables. For this problem a good choice might be x1s = acres in Tract1 for Spruce, x1h = acres in Tract1 for hunting, and x1b = acres for combined usage. Do something similar for Tract2.

A park service has two tracts of land: Tract1 =300 acres and Tract2 = 100acres They can allocate acres in Tract1 to any of 3 uses: spruce, hunting, Both They can allocate acres in Tract2 to any of 3 uses: spruce, camping, Both Each choice has a cost per acre and a profit per acre according to this table TABLE 55 Tract 1 Spruce 1 Hunting 1 Both 2 Spruce 2 Camping 2 Both Capital 3 3 4 1 30 10 Profit: Labor 0.1 0.2 0.2 0.05 5 1.01 Profit 0.2 0.4 0.5 0.06 0.09 1.1 The Capital figure is in units of $100/acre and the Profit is $1000/acre The Labor is in person-days / acre. Total available Labor is 200 person-days and the total available Capital is $150000 Set up and solve (using software) the most profitable allocation of acres. Number of acres in Tract1 allocated to hunting Hint: normally the most difficult thing is deciding on your decision variables. For this problem a good choice might be x1s = acres in Tract1 for Spruce, x1h = acres in Tract1 for hunting, and x1b = acres for combined usage. Do something similar for Tract2.

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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A park service has two tracts of land: Tract1 =300 acres and Tract2 = 100acres They can allocate acres in Tract1 to any of 3 uses: spruce, hunting, Both They can allocate acres in Tract2 to any of 3 uses: spruce, camping, Both Each choice has a cost per acre and a profit per acre according to this table TABLE 55 Tract 1 Spruce 1 Hunting 1 Both 2 Spruce 2 Camping 2 Both Capital 3 3 4 Profit: 30 10 Labor 0.1 0.2 0.2 0.05 5 1.01 Profit 0.2 0.4 0.5 0.06 0.09 1.1 The Capital figure is in units of $100 / acre and the Profit is $1000/acre The Labor is in person-days/ acre. Total available Labor is 200 person-days and the total available Capital is $150000 Set up and solve (using software) the most profitable allocation of acres. Number of acres in Tract1 allocated to hunting Hint: normally the most difficult thing is deciding on your decision variables. For this problem a good choice might be x1s = acres in Tract1 for Spruce, x1h = acres in Tract1 for hunting, and x1b = acres for combined usage. Do something similar for Tract2.
Transcribed Image Text:A park service has two tracts of land: Tract1 =300 acres and Tract2 = 100acres They can allocate acres in Tract1 to any of 3 uses: spruce, hunting, Both They can allocate acres in Tract2 to any of 3 uses: spruce, camping, Both Each choice has a cost per acre and a profit per acre according to this table TABLE 55 Tract 1 Spruce 1 Hunting 1 Both 2 Spruce 2 Camping 2 Both Capital 3 3 4 Profit: 30 10 Labor 0.1 0.2 0.2 0.05 5 1.01 Profit 0.2 0.4 0.5 0.06 0.09 1.1 The Capital figure is in units of $100 / acre and the Profit is $1000/acre The Labor is in person-days/ acre. Total available Labor is 200 person-days and the total available Capital is $150000 Set up and solve (using software) the most profitable allocation of acres. Number of acres in Tract1 allocated to hunting Hint: normally the most difficult thing is deciding on your decision variables. For this problem a good choice might be x1s = acres in Tract1 for Spruce, x1h = acres in Tract1 for hunting, and x1b = acres for combined usage. Do something similar for Tract2.
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