As shown in the attachment I've done part a. Using this template please show me the complete steps to get the graph in part b (eg what cells do you highlight for the graph). A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $250 to profit, and a chair contributes $145. Marketing restrictions require that the number of chairs produced be at least four times the number of desks produced. There are 2000 units of wood available. a. Use Solver to maximize the company’s profit. b. Confirm graphically that the solution in part a maximizes the company’s profit. c. Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units?
As shown in the attachment I've done part a. Using this template please show me the complete steps to get the graph in part b (eg what cells do you highlight for the graph). A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $250 to profit, and a chair contributes $145. Marketing restrictions require that the number of chairs produced be at least four times the number of desks produced. There are 2000 units of wood available. a. Use Solver to maximize the company’s profit. b. Confirm graphically that the solution in part a maximizes the company’s profit. c. Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units?
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...
Related questions
Question
100%
As shown in the attachment I've done part a. Using this template please show me the complete steps to get the graph in part b (eg what cells do you highlight for the graph).
A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $250 to profit, and a chair contributes $145. Marketing restrictions require that the number of chairs produced be at least four times the number of desks produced. There are 2000 units of wood available.
a. Use Solver to maximize the company’s profit.
b. Confirm graphically that the solution in part a maximizes the company’s profit.
c. Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units?
Transcribed Image Text:SHEHR22682888
119
X✓ fx
A
1 Manufacturing desks and chairs
2
3 Inputs
4
5 Unit margins
6 Wood usage per unit
7
8 Decisions
9
10
Units produced
12 Constraint on wood
15
16 Constraint on chairs
19
20 Objective to maximize
21 Profit
22 # of desks produced is 125
23 #of chairs produced is 500
Maximum Profit is $103750
24
25
11
13
14
Paste
17
18
26
27
28
29
30
31
32
31
34
35
36
37
38
30
Ready
Calibri
B I U
6
Desks
$250
4
Desks
125
Wood used
2000
Chairs produced
$103,750
Answer Report 1
26
05
V
11
C
Chairs
$145
3
Chairs
500
Sensitivity Report 1
• Α' Α'
V
1.A
D
Wood available
2000
Chairs required
1
C
+
1
0
Answer Report 2
Sensitivity
alt S
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 10 images
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Is my formatting correct (see attached image)? I'm still having trouble with getting that graph. What are the steps involved with getting the graph (eg what do I have to highlight)?
Transcribed Image Text:aste
BIU
45
V
X ✓ fx
A
Manufacturing desks and chairs
Inputs
Unit margins
Wood usage per unit
Decisions
9
10 Units produced
11
12 Constraint on wood
13
= 14
15
16 Constraint on chairs
-0 17
18
C=19
20 Objective to
ximize
21 Profit
22 # of desks produced
C=0 23 # of chairs produced
+(0)=
24 Maximum profit
25
26
27 b.
4
5
6
7
8
!! S
od
0=0
-0-4-0 28
29
D
с
F5
7
30
31
32
33
34
35
36
ww
37
38
39
40
22
41
42
43
44.
45
46
47
48
AQ
Ready
고
F6
fx 0
B
Desks
$250
4
Desks
125
Wood used
2000
Chairs produced
-4
$103,750
125
500
$103,750
0X
F
F7
Chairs
$145
3
16
MAX Z
subject to
4D+3C
-4D+C
and D,C
4D+3C
A
Treat it as 4D+3C=2000
When D=0 then C=?
4(0)+3C
=
3C
C
=
When C=0 then D=?
4D+3(0)
4D
D
Chairs
500
RE
D
Answer Report 1
S
MacBook Pro
11
DE
X
1111
au
D
A.
E
Wood available
2000
Chairs required
1
0
250D+145C
0;
Pa
2000
0
2000
2000
2000
20003 =
2000
2000
20004 =
500
0
666.67
Sensitivity Report 1
A T
DII
F8
DD
F9
EEEEE
F
G
H
-4D+C
SA
Treat it as -4D+C =0
When D=0 then C=?
B
-4(0)+C
C
H
When C-0 then D=?
666.67 -4D+(0)
-4D
D
=
500
Answer Report 2
R
X
W
D
0-4
00
Ź
0
00
D
Sensitivity Report 2
R
=
00
0
0
Merge
J
P3-26
0
Solution
by Bartleby ExpertRecommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.