2. Steel Clad Cookware (20 points) Steel Clad Cookware produces 5 different types of pans and skillets: Chef's Pans, Saut Pans, Deep Skillets, French Skillets, and Nonstick Skillets. Each of these products requires different amounts of inputs as given in the following Table. In addition to those inputs in the Table, other inputs are also required but we do not need to consider them since they are in plentiful supply. Hint: See Unit 3 Practice Problem #2 Table of input per unit of Deep French Nonstick product Chef's Pan Saut Pan Skillet Skillet Skillet pounds of Steel 2 1.5 1 0.8 0.5 hours of Manufacturing Time 2.8 2.4 1.8 1.2 1.6 hours of Polishing Time .8 .8 .4 .4 .6 hours of Packing time .075 .06 .05 .065 .1 The price and variable cost of each product is given below. Table of input per unit of Deep French Nonstick product Chef's Pan Saut Pan Skillet Skillet Skillet Selling Price Variable Cost $18.90 $13.60 $14.90 $12.90 $16.90 $13.90 $10.10 $9.60 $13.70 $10.10 Steel Clad is planning its production of these products for next year and for this period it has the following resources and capacity available: 8,000 pounds of Steel, 10,000 hours of Manufacturing time, 3,000 hours of Polishing time, and 500 hours of Packing time. The company wants to maximize profit and can sell unlimited amounts of each product. However, the Marketing Department wants to sell at least 500 units of each product and it wants to sell at least twice as many Saut Pans as Chef's Pans. (a) Formulate the problem as an algebraic linear optimization model. Be sure to define your variables. (Submit copy of Handwritten answer, 5 pts) (b) Construct an EXCEL model for this problem (Submit answer in an Excel file, 5 pts) (c) Using your EXCEL model and Solver, determine an optimal solution. (Submit copy of Handwritten answer, 5 pts) (d) Could Steel Clad make more money if it schedules packing workers to work overtime? Why/why not? Use the Sensitivity Report to explain. (Submit copy of Handwritten answer, 5 pts)