Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. A jewelry manufacturer wants to optimally producing four different bracelets with their quantities denoted by x, x2, X3 and x4. The production of

2. A jewelry manufacturer wants to optimally producing four different bracelets with their quantities denoted by x, x2, X3 and x4. The production of these bracelets require different amounts of gold, silver and time. A linear programming model has been formulated for determining the optimal quantities of the four different bracelets such that the total profit is maximized and the model is as follow: Max $900x, + $1250 x2 + 450x3 + $650x4 subject to 0.10x1 + 0.25x2 + 0.08x3 + 0.21x4 < 72 units (Gold) 3x1 + 3x2 + x3 + X4 < 1200 units (Silver) 3.6x1 + 4.8x2 + 2.5x3 + 3.5x4 < 2500 hours (Manufacturing Time) X1 + x2 < 500 (Limit on Total Quantity of Bracelets 1 & 2 Produced) X3 + x4 < 500 (Limit on Total Quantity of Bracelets 3 & 4 Produced) X1, X2, X3, X4 > 0 a. Determine the optimal solution to this linear programming model by Excel Solver. b. For each coefficient in the objective function, identify its range of change that the current optimal solution remains unchanged. c. For each of the first three constraints, identify the range of change of its right-hand-side value, in which the constraint's shadow price remains valid. d. One of the four bracelets is not produced in the optimal solution. How much would the objective coefficient of this bracelet be adjusted so that it is worthwhile to be produced?

Step by Step Solution

3.40 Rating (153 Votes )

There are 3 Steps involved in it

Step: 1

the solution of this problem is attached a Answer Create Excel model as follows Enter Solver Paramet... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Operations Management Creating Value Along the Supply Chain

Authors: Roberta S. Russell, Bernard W. Taylor

7th Edition

9781118139523, 0470525908, 1118139526, 978-0470525906

More Books

Students also viewed these Programming questions