- Refer to the model listed next: Max: Z= 10*x1+6*x2+4*x3; Subject to: x1+x2+x3<=100; (technical) 10*x1+ 4*x2+5*x3 <= 600; (labor) 2*x1+2*x2+6*x3=300; (administration) x1,x2,x3>=0; where x1,x2 and x3 are the number of product 1,2 and 3 produced. (i) (ii) (iii) (iv) (v) 333 (vi) Identify the initial basis with your reason. Show one complete iteration as the solution moves to the next basis. Find the optimal basis. You may solve the problem for the optimal solution using the Lingo software but must validate the optimal basis. Estimate the optimal simplex multipliers. Solve the model using the Lingo software and report the dual prices for each constraint. Compare the optimal simplex multipliers with the shadow prices for different constraints and provide your comments.
- Refer to the model listed next: Max: Z= 10*x1+6*x2+4*x3; Subject to: x1+x2+x3<=100; (technical) 10*x1+ 4*x2+5*x3 <= 600; (labor) 2*x1+2*x2+6*x3=300; (administration) x1,x2,x3>=0; where x1,x2 and x3 are the number of product 1,2 and 3 produced. (i) (ii) (iii) (iv) (v) 333 (vi) Identify the initial basis with your reason. Show one complete iteration as the solution moves to the next basis. Find the optimal basis. You may solve the problem for the optimal solution using the Lingo software but must validate the optimal basis. Estimate the optimal simplex multipliers. Solve the model using the Lingo software and report the dual prices for each constraint. Compare the optimal simplex multipliers with the shadow prices for different constraints and provide your comments.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:- Refer to the model listed next:
Max: Z= 10*x1+6*x2+4*x3;
Subject to:
x1+x2+x3<=100; (technical)
10*x1+ 4*x2+5*x3 <= 600; (labor)
2*x1+2*x2+6*x3=300; (administration)
x1,x2,x3>=0; where x1,x2 and x3 are the number of product 1,2 and 3 produced.
(i)
(ii)
(iii)
(iv)
(v)
333
(vi)
Identify the initial basis with your reason.
Show one complete iteration as the solution moves to the next basis.
Find the optimal basis. You may solve the problem for the optimal solution using the Lingo
software but must validate the optimal basis.
Estimate the optimal simplex multipliers.
Solve the model using the Lingo software and report the dual prices for each constraint.
Compare the optimal simplex multipliers with the shadow prices for different constraints
and provide your comments.
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