Paul Bergey is in charge of loading cargo ships for International Cargo Company (ICC) at the port
Question:
Paul Bergey is in charge of loading cargo ships for International Cargo Company (ICC) at the port in Newport News, Virginia. Paul is preparing a loading plan for an ICC freighter destined for Ghana. An agricultural commodities dealer wants to transport the following products aboard this ship.
Paul can elect to load any and/or all of the available commodities. However, the ship has three cargo holds with the following capacity restrictions:
More than one type of commodity can be placed in the same cargo hold. However, because of balance considerations, the weight in the forward cargo hold must be within 10% of the weight in the rear cargo hold and the center cargo hold must be between 40% to 60% of the total weight on board.
a. Formulate an LP model for this problem.
b. Create a spreadsheet model for this problem and solve it using Solver.
c. What is the optimalsolution?
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
Step by Step Answer:
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics
ISBN: 1233
8th Edition
Authors: Cliff T. Ragsdale