2. Problem A-7 (Algo)You are trying to create a budget to optimize the use of a portion of yourdisposable income. You have a maximum of $1,500 per month to beallocated to food, shelter, and entertainment. The amount spent on foodand shelter combined must not exceed $1,000. The amount spent onshelter alone must not exceed $70O. Entertainment cannot exceed $700per month. Each dollar spent on food has a satisfaction value of 7, eachdollar spent on shelter has a satisfaction value of 7, and each dollar spenton entertainment has a satisfaction value of 3.Assuming a linear relationship, use the Excel Solver to determine theoptimal allocation of your funds. (Leave no cells blank - be certain toenter "O" wherever required. Round your answers to the nearest wholenumber.)Decision for FDecision for SDecision for ETotal SatisfactionResourcesUsedTotal budget$ on food and shelter$ on shelter$ on entertainment

F= Dollars spent on Food S = Dollar spent on Shelter E = Dollar spent on Entertainment

Answered: Problem A-7 (Algo) You are trying to…

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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1iii- Please solve this question. Thanks
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Case Discussion Smithfield Custom Furniture (Part 2) As a result of its consultants' wonderful guidance in 1901, Smithfield Custom Furniture has continued to do extremely well financially. It is now 1987, and the company has been headed by the founder's grandson, Jonas Smithfield III. He has run the company for the past twenty years. The company now has 247 retail stores. 220 stores are spread throughout the 50 states, and 27 stores are located in England, France, and Germany. Each country has 9 stores. In total, the company employs 13,000 people. Approximately 40% are manufacturing, distribution, quality control, design, delivery, administrative, and back-office work. Approximately 60% of the employees are in retail stores. It has been Smithfield Custom Furniture's mission to target the wealthiest segments of the market. The company does all its manufacturing in the United States at six facilities, recently modernized with the latest equipment. They use the finest and most…
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