=E*5.12. Reconsider the model given in Problem 5.2. While doing what-if analysis, you learn that the estimates
Question:
=E*5.12. Reconsider the model given in Problem 5.2. While doing what-if analysis, you learn that the estimates of the righthand sides of the two functional constraints are accurate only to within 50 percent. In other words, the ranges of likely values for these parameters are 5 to 15 for the first right-hand side and 6 to 18 for the second right-hand side.
a. After solving the original spreadsheet model, determine the shadow price for the first functional constraint by increasing its right-hand side by one and solving again.
b. Use the Solver Table to generate the optimal solution and total profit as the right-hand side of the first functional constraint is incremented by 1 from 5 to 15. Use this table to estimate the allowable range for this right-hand side, that is, the range over which the shadow price obtained in part a is valid.
c. Repeat part a for the second functional constraint.
d. Repeat part b for the second functional constraint where its right-hand side is incremented by 1 from 6 to 18.
e. Use the Solver’s sensitivity report to determine the shadow price for each functional constraint and the allowable range for the right-hand side of each of these constraints.
Step by Step Answer:
Introduction To Management Science A Modeling And Case Studies Approach With Spreadsheets
ISBN: 9780078096600
4th Edition
Authors: Frederick S. Hillier And Mark S. Hillier