management sci - linear programming, sensitivity analysis on excel (see pic for details) Each product contains a different amount of two basic raw materials. Raw material1 costs $0.50 per ounce, and raw material 2 costs $1.50 per ounce. There are 75,000ounces of raw material 1 and 100,000 ounces of raw material2 available.Requirements(oz/unit)RawMaterial 1SellingMaterial 2 Price($/unit15.00KnifeRaw4,6.25.5014.0019.501027.00a. If the objective is to maximize profit, specify the objective function and constraintsfor the problem. Assume that labor costs are negligible.b. Solve the problem with a computer package, using the simplex method.2835912/6ABCDE Test II. Linear Programming. Read first the given problem then answer each questioncorresponding to the solution to linear programming problems.The Butterfield Company makes a variety of hunting knives. Each knife is processed on fourmachines. Following are the processing times required; machine capacities(in hours) are1500 for machine 1, 1400 for machine 2, 1600 for machine 3, and 1500 for machine 4.Processing Time(hr)Machine 2KnifeMachine 1Machine 3Machine 40.050.150.200.150.100.100.050.100.100.150.05B0.050.050.100.200.100.100.10E.0.050.05Each product contains a different amount of two basic raw materials, Raw material1 costs $0.50 per ounce, and raw material 2 costs $1.50 per ounce. There are 75,000ounces of raw material 1 and 100,000 ounces of raw material2 available.Requirements(oz/unit)RawMaterial 1KnifeRawSellingMaterial 2 Price($/unit415.006.8.25.501.2.19.509.1027.00ABUD山

Find the Given details below: Given details: Knife Raw Material 1 Raw Material 2 Selling price…

Each product contains a different amount of two basic raw materials. Raw material 1 costs $0.50 per ounce, and raw material 2 costs $1.50 per ounce. There are 75,000 ounces of raw material 1 and 100,000 ounces of raw material2 available. Requirements(oz/unit) Raw Selling Material 2 Price($/unit Knife Raw Material 1 4 15.00 25.50 1. 14.00 19.50 10 27.00 a. If the objective is to maximize profit, specify the objective function and constraints for the problem. Assume that labor costs are negligible. b. Solve the problem with a computer package, using the simplex method. 28359 26 ABCDE

Each product contains a different amount of two basic raw materials. Raw material 1 costs $0.50 per ounce, and raw material 2 costs $1.50 per ounce. There are 75,000 ounces of raw material 1 and 100,000 ounces of raw material2 available. Requirements(oz/unit) Raw Selling Material 2 Price($/unit Knife Raw Material 1 4 15.00 25.50 1. 14.00 19.50 10 27.00 a. If the objective is to maximize profit, specify the objective function and constraints for the problem. Assume that labor costs are negligible. b. Solve the problem with a computer package, using the simplex method. 28359 26 ABCDE

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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