Homework Help is Here – Start Your Trial Now!
Business
Operations Management
Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey, and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint

Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey, and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint

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...
See similar textbooks
icon
Related questions
Question
Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey. and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint
Transcribed Image Text:Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey. and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint
c. Report the shadow price and the range of feasibility of each binding constraint. Note: If the answer to constraints is "Binding" enter the "Shadow price" and "Range of feasibility" to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint Shadow Price Saltwater taffy Home recipe taffy Range of Feasibility From d. What is the range of optimality for the objective function coefficients? Note: Round your answers to 2 decimal places. Range of Optimality for the Objective Function Coefficients From To To
Transcribed Image Text:c. Report the shadow price and the range of feasibility of each binding constraint. Note: If the answer to constraints is "Binding" enter the "Shadow price" and "Range of feasibility" to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint Shadow Price Saltwater taffy Home recipe taffy Range of Feasibility From d. What is the range of optimality for the objective function coefficients? Note: Round your answers to 2 decimal places. Range of Optimality for the Objective Function Coefficients From To To
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 5 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
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…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS