Do not use chatgpt. Vollmer Manufacturing makes three components for sale to refrigeration companies. The components areprocessed on two machines: a shaper and a grinder. The times (in minutes) required on each machine are asfollows:Component12MachineShaper64Grinder45342The shaper is available for 120 hours, and the grinder is available for 110 hours. No more than 200 units ofcomponent 3 can be sold, but up to 1000 units of each of the other components can be sold. In fact, thecompany already has orders for 600 units of component 1 that must be satisfied. The profit contributions forcomponents 1, 2, and 3 are $8, $6, and $9, respectively.a. write the LP model to maximize profit and solve it to find the optimal number of components and totalprofit.b. what are the objective function coefficient ranges for the three components? interpret these ranges forcompany management.c. what are the right hand side ranges for the shaper constraint? interpret the shadow price for thisconstraint and the right hand side for this constraintd. if more grinder time could be made available, how much would it be worth?e. if more units of component 3 can be produced, how much would an additional unit add to profit?

Here's a detailed explanation for better understanding. a. Linear Programming (LP) Model Solution…

Answered: Vollmer Manufacturing makes three…

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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