A store store is looking to stock the following: necklaces, bracelets, rings, and earrings. The objective function measuring profit and constraints are given below. Constraint 1 measures display space in units, constraint 2 measures time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions. Setup an LP program in Tab "#1" and run additional reports (leave reports in your file) in order to answer the following questions. MAX 100X1+120X2+150X3+125X4 S.T. 1) X1+2X2+2X3+2X4<108 2) 3X1+5X2+X4<120 3) X1+X3<25 4) X2+X3+X4>50 a. How many necklaces should be stocked? b. Now many bracelets should be stocked? c. How many rings should be stocked? d. How many earrings should be stocked? e. How much space will be left unused? f. How much time will be used? g. By how much will the second marketing restriction be exceeded? h. What is the profit? i. To what value can the profit on necklaces drop before the solution would change? j. By how much can the profit on rings increase before the solution would change? k. By how much can the amount of space decrease before there is a change in the profit? l. You are offered the chance to obtain more space. The offer is for 15 units and the total price is 1500. What should you do?
A store store is looking to stock the following: necklaces, bracelets, rings, and earrings. The objective function measuring profit and constraints are given below. Constraint 1 measures display space in units, constraint 2 measures
time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions. Setup an LP program in Tab "#1" and run additional reports (leave reports in your file) in order to answer the following questions.
MAX 100X1+120X2+150X3+125X4
S.T.
1) X1+2X2+2X3+2X4<108
2) 3X1+5X2+X4<120
3) X1+X3<25
4) X2+X3+X4>50
a. How many necklaces should be stocked?
b. Now many bracelets should be stocked?
c. How many rings should be stocked?
d. How many earrings should be stocked?
e. How much space will be left unused?
f. How much time will be used?
g. By how much will the second marketing restriction be exceeded?
h. What is the profit?
i. To what value can the profit on necklaces drop before the solution would change?
j. By how much can the profit on rings increase before the solution would change?
k. By how much can the amount of space decrease before there is a change in the profit?
l. You are offered the chance to obtain more space. The offer is for 15 units and the total price is 1500. What should you do?
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