Consider the following LP problem. where x 1 and x 2 represents the decision variables. Solve the

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Consider the following LP problem. 


where x1 and x2 represents the decision variables. Solve the LP problem to answer the following questions. 

a. What are the values of x1 and x2 at the optimal solution? What is the minimum value of z? 

b. Identify the binding and nonbinding constraints and report the surplus value, as applicable. 

c. Report the shadow price and the range of feasibility of each binding constraint(s). Interpret the results. 

d. What is the range of optimality for the two objective function coefficients? Interpret the results.

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Business Analytics Communicating With Numbers

ISBN: 9781260785005

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen

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