Answer questions about the simplex method formaximization in your own words. Be prepared toanswer the following:• What is the purpose of a slack variable?• How to set up the initial tableau• How to the read the solution from a final tableau• Given a final tableau, state the solution

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Answered: Answer questions about the simplex…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A farmer in the magical land of Avalon is raising a unicorn to sell to a band of Jewel Riders. The market price for unicorn is $12 per pound, but is falling 10 cents per day. The rapidly growing unicorn is currently weighing 400 pounds and is expected to gain 5 pounds per day for the next two to three weeks. The costs to raise a typical unicorn are $5 per day plus $100 for a special unicorn harness and feedbag. What is the optimal time to sell the unicorn to the Jewel Riders? P(x)= -.5x2+15x+4700 P'(x)= -x+15 p"(x)= -1 < 0 SENSITIVITY ANALYSIS: (This is the part I am a bit uncertain about. The questions below.) Any help is much appreciated. 1. Preform a sensitivity analysis of the optimal time to sell versus the variable cost to raise a unicorn (harness still $100). 2. So if the actual variable cost was $4.00 per day instead of $5.00 (20% decrease), what would you estimate for the best time to sell based on your sensitivity results? 3. Finally, substitute $4.00 for the variable…
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I keep getting these last two parts of this problem wrong, could someone show me how to solve it, please? (also, I know the third option for multiple choice isn't correct)
Can you please help me?

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Answer questions about the simplex method for maximization in your own words. Be prepared to answer the following: • What is the purpose of a slack variable? • How to set up the initial tableau • How to the read the solution from a final tableau . Given a final tableau, state the solution