Answered: The aim of the objective function for…

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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Question

Each coffee table produced by Kevin Watson Designers nets the firm a profit of $9.
Each bookcase yields a $12 profit. Watson's firm is small and its resources limited. During any given production period (of 1week),8 gallons of varnish and 14 lengths of high-quality redwood are available. Each coffee table requires approximately 1gallon of varnish and 1 length of redwood. Each bookcase takes 1 gallon of varnish and 2 lengths of wood.

The aim of the objective function for Kevin should be to Maximize/Minimize the objective value?

Part 2

The optimum solution is:

Part 3

Number of coffee tables produced per week =

enter your response here

(round your response to two decimalplaces).

Part 4

Number of bookcases produced per week =

enter your response here

(round your response to two decimalplaces).

Part 5

Optimal solution value =

enter your response here

(round your response to two decimal places).

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