Can you show me the steps in excel: Resource Requirements: Metal Materials/unit Plastic Materials/unit Labor hours/unit Waffle Maker 3.1 lb. .5 lb. .7 Egg Cooker .15 lb. .7 lb. 1 Toaster 2.0 lb. .3 lb. .5
Can you show me the steps in excel:
Resource Requirements:
|
|
Metal Materials/unit |
Plastic Materials/unit |
Labor hours/unit |
|
Waffle Maker |
3.1 lb. |
.5 lb. |
.7 |
|
Egg Cooker |
.15 lb. |
.7 lb. |
1 |
|
Toaster |
2.0 lb. |
.3 lb. |
.5 |
Resources cost are $3 per pound of metal, $2.90 per pound of plastic and $10.00 per hour for labor.
Available resources are 200 pounds of metal, 250 pounds of plastic and 350 hours of labor.
Based on the market research, the company expects the maximum demand for waffle makers is 50 and for egg cookers is 75. The company has a contract to supply 25 toasters to a local department store.
Waffle makers will be sold for $24.99; Egg cookers will be sold for $19.99; and Toasters will sell for $14.99
The company wants to know the optimal products mix that will maximize profit
Part A: Write the Linear Programming formulation for this problem to help determine the best production mix of the three appliances that will maximize profit
Part B: Set up & run the problem in Excel Solver
Report the optimal solution and profit result
What is your goal (in other words, are you trying to maximize or minimize? And what?)?
What are your decision variables? State and define them
What is your objective
What are your constraints?
What is the optimal solution for your decision variables and objective function?
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