Formulate and solve the following linear program: You are trying to create a budget to optimize the use of a portion of your disposable income. You have a maximum of $1,500 per month to be allocated to food, shelter, and entertainment. The amount spent on food and shelter combined must not exceed $1,100. The amount spent on shelter alone must not exceed $800. Entertainment cannot exceed $400 per month. Each dollar spent on food has a satisfaction value of 2, each dollar spent on shelter has a satisfaction value of 3, and each dollar spent on entertainment has a satisfaction value of 5.
Formulate and solve the following linear program: You are trying to create a budget to optimize the use of a portion of your disposable income. You have a maximum of $1,500 per month to be allocated to food, shelter, and entertainment. The amount spent on food and shelter combined must not exceed $1,100. The amount spent on shelter alone must not exceed $800. Entertainment cannot exceed $400 per month. Each dollar spent on food has a satisfaction value of 2, each dollar spent on shelter has a satisfaction value of 3, and each dollar spent on entertainment has a satisfaction value of 5.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 34P
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Formulate and solve the following linear program:
You are trying to create a budget to optimize the use of a portion of your disposable income. You have a
maximum of $1,500 per month to be allocated to food, shelter, and entertainment. The amount spent on
food and shelter combined must not exceed $1,100. The amount spent on shelter alone must not exceed
$800. Entertainment cannot exceed $400 per month. Each dollar spent on food has a satisfaction value of
2, each dollar spent on shelter has a satisfaction value of 3, and each dollar spent on entertainment has a
satisfaction value of 5.
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