Consider the following LP problem developed at Zafar Malik's Carbondale, Illinois,optical scanning firm:MaximizeZ= 1X₁ + 1x₂Subject to:2X₁ + 1X₂ ≤60(C₁)1X₁ + 2X₂ ≤60(C₂)X₁ X₂ 20On the graph on right, constraints C, and C₂ have been plotted.a) Using the point drawing tool, plot all the corner points for the feasible area.The optimum solution is:X₁ =(round your response to two decimal places).(round your response to two decimal places).X₂ =Optimal solution value Z =(round your response to two decimal places).b) If a technical breakthrough occurred that raised the profit per unit of X₁ to $3,due to this change, the optimal solutionAs a result of the technical breakthrough, the optimum solution is:X₁ =(round your response to two decimal places).X₂ =(round your response to two decimal places).Optimal solution value Z = (round your response to two decimal places).c) If the impact of technical breakthrough was incorrectly determined and insteadof X₁ profit coefficient increasing to $3 it only increases to $1.25. As a result ofthis correction, the optimal solution found originally

Given data is Objective function: Max Z=X1+X2 Subject to constraints: 1.) 2X1+1X2≤602.)…

Answered: Consider the following LP problem…

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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Alan Industries is expanding its product line to include three new products: A, B, and C. These are to be produced on the same production equipment, and the objective is to meet the demands for the three products using overtime where necessary. The demand forecast for the next four months, in hours required to make each product is: PRODUCT A B с APRIL 860 660 760 Objective value MAY 660 760 560 JUNE 860 960 760 Because the products deteriorate rapidly, there is a high loss in quality and, consequently, a high carrying cost when a product is made and carried in Inventory to meet future demand. Each hour's production carried into future months costs $3 per production hour for A, $4 for B, and $5 for C. APRIL 1,560 760 Production can take place either during regular working hours or during overtime. Regular time is paid at $4 when working on A, $5 for B, and $6 for C. The overtime premium is 50 percent of the regular time cost per hour. The number of production hours available for regular…
In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,000 radials each year. In the past 2 years, 220 and 250, respectively were sold in fall, 360 and 320 in winter, 145 and 175 in spring, and 300 and 230 in summer. With a major expansion planned, Kelle projects sales next year to increase to 1,200 radials. Based on next year's projected sales, the demand for each season is going to be (enter your responses as whole numbers): Season Demand Fall nothing
Q1 Find the best solution for the following model using simplex MAX Z = 10X1 + 8X2 SUB TO: 4X1 + 2X2 < 80 X1 + 2X2 < 50 X1 2 0,X2 2 0
Formulate an LP for this minimization problem
3) A brokerage firm has been tasked with investing $500,000 for a new client. The client has asked that the broker select promising stocks and bonds for investment, subject to the following guidelines: at least 20% in municipal bonds, at least 10% each in real estate and pharmaceutical stock, and at least 40% in a combination of energy and domestic automobile stocks with each accounting for at least 15%. The returns are as follows: Municipal = 5.3%, Domestic Automobile = 8.8%, Energy = 4.9%, Pharmaceuticals = 8.4% and Real Estate = 10.4%. a) Write a linear program complete with objective function and all constraints to Maximize the return. (5 points) b) What is the optimal solution? Give values for all variables rounded to the nearest cent.(2 points) c) How much annual income does the optimal solution generate? (2 points) d) Submit your excel workbook. (2 points)
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