Implement the following Linear Programming (LP) problem in a spreadsheet. Use Solver to solve the problem and create a Sensitivity Report. Use this information to answer the following questions:**Objective Function:**\[\text{MAX: } 4X_1 + 3X_2\]**Constraints:**\[\begin{align*}2X_1 + 4X_2 & \leq 20 \\3X_1 + 5X_2 & \leq 15 \\X_1, X_2 & \geq 0 \\\end{align*}\]**Question:**(a) What range of values can the objective function coefficient for variable $X_1$ assume without changing the optimal solution? (If there is no limit on how much the coefficient can increase or decrease, enter ∞.)**Answer Template:**The objective function coefficient for variable $X_1$ can decrease by [______] or increase by [______] without changing the optimal solution.

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Answered: Implement the following LP problem in a…

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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Implement the following LP problem in a spreadsheet. Use Solver to solve the problem and create a Sensitivity Report. Use this information to answer the following questions: MAX: 4X₁ + 3X₂ Subject to: 2X₁ + 4X₂ ≤ 20 3X₁ +5X₂ ≤ 15 X₁, X₂ 20