furniture company is producing two types of furnitureand wants to determine the profit maximizing output combination. Product A requires 8 board feet of wood and 2 lbs of wicker. Product B requires 6 board feet of wood and 6 lbs of wicker. There are 2000 board feet of wood available for product and 1000 lbs of wicker. Product A earns a profit margin of $30 a unit and Product B earns a profit margin of $40 a unit. Show all of your work and provide evidence that you can set up and solve a linear programming (LP) problem. Clearly identify your answer(s) and provide a brief discussion of the results. You may use the POM (preferred and easier) or another software to complete this problem. Submit your results from the software in an Excel file. Each of questions below can be answered by running the problem in POM or the MAC version of QM-POM and using the ranging window in POM or the sensitivity output in the MAC version. Formulate and solve the problem as a linear programming problem. Be sure to provide your results and problem setup
A furniture company is producing two types of furnitureand wants to determine the profit maximizing output combination. Product A requires 8 board feet of wood and 2 lbs of wicker. Product B requires 6 board feet of wood and 6 lbs of wicker. There are 2000 board feet of wood available for product and 1000 lbs of wicker. Product A earns a profit margin of $30 a unit and Product B earns a profit margin of $40 a unit.
Show all of your work and provide evidence that you can set up and solve a linear programming (LP) problem. Clearly identify your answer(s) and provide a brief discussion of the results. You may use the POM (preferred and easier) or another software to complete this problem. Submit your results from the software in an Excel file. Each of questions below can be answered by running the problem in POM or the MAC version of QM-POM and using the ranging window in POM or the sensitivity output in the MAC version.
Formulate and solve the problem as a linear programming problem. Be sure to provide your results and problem setup.
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