Estimate a range for the optimal objective value for the following LPs:*(a) Minimize z = 5x₁ + 2x₂subject to(b) Maximize zsubject tox₁ + 5x₂ + 3x3X₁X₂ ≥ 32x₁ + 3x₂ = 5X1, X₂ ≥ 0x₁ + 2x₂ + x3 = 302x₁ - x₂= 40X1, X2, X3 ≥ 0

Objective Functions and Constraints: Based on the given details, the objective…

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Practical Management Science

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Estimate a range for the optimal objective value for the following LPs: (a) Minimize z = 5x₁ + 2x₂ subject to (b) Maximize z = x₁ + 5x₂ + 3x3 subject to x₁ - x₂ = 3 2x₁ + 3x₂ = 5 X1, X₂ = 0 x₁ + 2x₂ + x3 = 30 2x₁ - x₂ = 40 X1, X₂, X3 ≥ 0