Please no hand written solutionwhat is the correct answer; a, b, c, or d? Mining scenarioA mining company owns two mines, each of which produces three grades (high, medium, and low) of ore.The company has a contract to supply a smelting company with at least 12 tons of high-grade ore, at least 8tons of medium-grade ore, and at least 24 tons of low-grade ore. Each hour of operation, mine I produces 6tons of high-grade ore, 2 tons of medium-grade ore, and 4 tons of low-grade ore. Each hour of operation,mine 2 produces 2 tons of high-grade ore, 2 tons of medium-grade ore, and 12 tons of low-grade ore. It costs$200 per hour to operate mine 1 and $160 per hour to operate mine 2. How many hours should each mine beoperated so as to meet the contractual obligations at the lowest total operating cost?U1 Microsoft Excel 16.0 Sensitivity Report2 Worksheet: [2.xlsx]solution3 Report Created: 10/26/2019 7:20:34 PM4S6 Variable Cells78910CellName$B$3 X1 Hours to operate Mine 1$C$3 X2 Hourse to operate Mine 21112 Constraints1314151617CellName$E$6 High-grade constraint LHS$E$7 Medium-grade constarint LHS$E$8 Low-grade constarint LHSFinal Reduced Objective AllowableValue Cost Coefficient Increase1312800Final Shadow Constraint AllowableValue Price R.H. Side Increase40200160107001282428040 93.3333333384AllowableDecrease1640AllowableDecrease421E+30 Use this sensitivity report to answer the questions below.What constraints are binding (at that optimal solution)?Low-gradeHigh-grade and Medium-gradeMedium-gradeHigh-grade and Low-grade

Based on the Given Sensitivity Report: Shadow Price of High-Grade Constraint = 10 Shadow Price of…

Answered: Use this sensitivity report to answer…

Use this sensitivity report to answer the questions below. What constraints are binding (at that optimal solution)? Low-grade High-grade and Medium-grade Medium-grade High-grade and Low-grade

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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Required information [The following information applies to the questions displayed below.] The Mac Davis Company specializes in the purchase, renovation, and resale of older homes. Mac employs several carpenters and painters to do the work for him. It is essential for him to have accurate cost estimates so he can determine total renovation costs before he purchases a piece of property. If estimated renovation costs plus the purchase price of a house are higher than the house's estimated resale value, it is not a worthwhile investment. Mac has been using the home's interior square feet for his exterior paint cost estimations. Recently he decided to include the number of external openings-the total number of doors and windows in a house-as a cost driver. Their cost is significant because they require time-consuming preparatory work and careful brushwork. The rest of the house usually is painted either by rollers or spray guns, which are relatively efficient ways to apply paint to a large…
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