Please solve this Optimization problem 1) A company produces 3 different products: A, B and C. Each product has to go under3 processes consuming different amounts of time along the way. The time available foreach process is described in the table below.ProcessI|||||Total number Number of hours needed to produceeach productof hoursavailable120002400018000A543B255C464Assuming the selling profits for products A, B and C are 2, 3 and 4€ per unit. Determinehow many units of each product should be produced to maximize the profit.Was there any time left?

Linear programming is a mathematical technique that is also used in operations management…

Answered: Assuming the selling profits for…

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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Valencia Products makes automobile radar detectors and assembles two models: LaserStop and SpeedBuster. Both models use the same electronic components. After reviewing the components required and the profit for each model, the firm found the following linear optimization model for profit, where L is the number of LaserStop models produced and S is the number of SpeedBuster models produced. Implement the linear optimization model on a spreadsheet and use Solver to find an optimal solution. Interpret the optimal solution, identify the binding constraints, and verify the values of the slack variables. Maximize Profit = 123 L+ 139 S 18 L 11 S≤ 3000 5 L+9 S≤2500 L≥ 0 and S≥ 0 (Availability of component A) (Availability of component B) Implement the linear optimization model and find an optimal solution. Interpret the optimal solution. The optimal solution is to produce LaserStop models and possible profit, SpeedBuster models. This solution gives the which is $ (Type integers or decimals…

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Assuming the selling profits for products A, B and C are 2, 3 and 4€ per unit. Determine how many units of each product should be produced to maximize the profit. Was there any time left?