Consider the following LP problem where x 1 , x 2 , and x 3 represent the

Question:

Consider the following LP problem

where x₁, x₂, and x₃ represent the decision variables. Solve the LP problem to answer the following questions.

a. What are the values of x₁, x₂, and x₃ at the optimal solution? What is the minimum value of z?

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

c. Report the values and ranges of feasibility of the shadow price of each binding constraint. Interpret the results.

d. What is the range of optimality for the three 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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Question Posted: Feb 16, 2023 08:25 AM

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Consider the following LP problem where x 1 , x 2 , and x 3 represent the

Question:

Minimize Subject to: Constraint 1: Constraint 2: Constraint 3: z = 7x₁ + 7x₂ + 6x3 7x₁ + 6x₂ + 4x32 50, 10x₁ + 13x₂ + 14x3 ≥ 150, X1, X2, X3 ≥ 0,

Step by Step Answer:

a Optimal solution x 1 0 x 2 3125 x 3 78125 and z 6875 b Both ...View the full answer

Business Analytics Communicating With Numbers

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